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The Central Bank of Nigeria (CBN) has issued a directive to prominent financial technology companies in the country, including OPay, Palmpay, Kuda Bank, and Moniepoint, instructing them to cease onboarding new customers until further notice. This move by the CBN has significant implications for the fintech industry in Nigeria and raises questions about the regulatory … Read more
Another supermarket in Abuja has been sealed off by the FCCPC as part of their efforts to combat unfair practices in the retail sector. This action is aimed at fostering fair competition and shielding consumers from price fixing schemes. Background on FCCPC’s Role in Consumer Protection In Nigeria, the FCCPC serves as a regulatory authority … Read more
The Economic and Financial Crimes Commission (EFCC) in Nigeria has been actively pursuing cases of financial fraud and abuse, with investigations ongoing and progressing steadily. The EFCC has made it clear that no one allegedly involved in fraud has been cleared, and the public is urged to disregard any claims suggesting otherwise. Public Support and … Read more
The Nigerian Electricity Regulatory Commission (NERC) implemented a tariff increase on April 3, 2024, affecting customers under the Band A classification who receive 20 hours of power supply daily. This move has been met with criticism from human rights lawyer Femi Falana, who accused the government of planning to extend the tariff increase beyond Band … Read more