News
SERAP Wants Privacy Details of Election Data from INEC

Socio-Economic Rights and Accountability Project (SERAP) has urged Mr. Mahmood Yakubu, chairman, Independent National Electoral Commission (INEC), to publish the details of safeguards and mechanisms put in place to protect the privacy and security of election information and data in the custody of the organisation, including in its servers, databases and other electronic formats.

SERAP made the call in a Freedom of Information (FoI) request dated March 26, 2022.
In the document signed by Mr Kolawole Oluwadare, SERAP deputy director, SERAP urged him to “clarify whether any third-party is involved in the collection, control, and use of election information and data, the legal rules and processes guiding the choice of any such third party”.
SERAP also urged him to “clarify the other location or locations where election information is stored apart from Abuja, and the details of any third-party who has access to such a database, the safeguards and contingency plans put in place by INEC to address any threats to the privacy and security of election information”.
“Ensuring adequate safeguards and mechanisms to protect the privacy and security of election information and data would improve the ability of INEC to effectively discharge its constitutional and statutory duties”.
SERAP said: “This would also help to remove risks of attack and unlawful interference by any unauthorised person with election information and data”.
According to SERAP, “Widely publishing the details of safeguards and mechanisms of election data and information would also contribute to improving the sanctity and integrity of the electoral process, and public trust and confidence in the process”.
The letter, read in part: “Putting in place adequate technological security measures to prevent unauthorized access to election information and data would improve the credibility of the electoral process and the enjoyment of people’s right to participate in their own government.
“As an institution, which collects, controls and uses election-related information and data in the discharge of its constitutional and statutory duties, INEC has a legal responsibility to ensure adequate protection of such information and data from threats and vulnerabilities to attack or interference.
“Any interference by unauthorised third party in election information and data may be used for corrupt, political and other unlawful purposes, and would expose election systems to fraud and meddling, as well undermine the right to participation and the country’s democratic system.
“The right of people to participate in their government is a fundamental feature of any democratic society, and any infringement of privacy and security of election information and data would strike at the heart of representative government.
“We would be grateful if the recommended measures are taken within 7 days of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall consider appropriate legal actions to compel INEC to comply with our request in the public interest.
“SERAP notes that voter registration systems and voting systems are the most vulnerable and susceptible to manipulation by corrupt politicians and other actors.
“As the experiences in other countries have shown, election information is often susceptible to unlawful interference by corrupt politicians and other actors, which can be damaging to the integrity of the electoral process and democratic practices.
“The experiences of other countries demonstrate the need for INEC to take effective and transparent measures to ensure and protect the privacy and security of election information and data, which would protect the integrity of the country’s democracy.
“Any privacy or security weakness in any component of any of the election systems can be easily exploited to cast doubt on the integrity of the electoral process.
“Our requests are brought in the public interest, and in keeping with the requirements of the Nigerian Constitution 1999 [as amended], the Electoral Act, the Freedom of Information Act, and the country’s international obligations including under the African Charter on Human and Peoples’ Rights, and the African Charter on Democracy, Elections, and Governance.
“SERAP notes that Section 9(2)(a) of the Electoral Act 2022 provides that INEC ‘shall keep the Register of Voters in its National Headquarters and other locations as the Commission may determine.’ The provision also states that INEC ‘shall keep the Register of Voters in electronic format in its central database.’
“Section 153 of the Act defines ‘electronic format’ to include ‘the electronic version of the Register of Voters or National Electronic Register of Election Results, as the case may be, created, recorded, transmitted or stored in digital form or in other intangible forms by electronic, magnetic or optical means or by any other means.”
The organisation said: “Section 37 of the Nigerian Constitution, article 17 of the International Covenant on Civil and Political Rights, and article 5 of the African Charter on Human and Peoples’ Rights protect against arbitrary or unlawful interference with one’s privacy.
“Interference with the privacy of election information and data would clearly undermine the security of any such information and data. Similarly, Article 9 (1) of the African Charter provides that, ‘Every individual shall have the right to receive information.
“Article 2(10) of the African Charter on Democracy, Elections, and Governance requires states parties including Nigeria to ‘promote the establishment of the necessary conditions to foster citizen participation, transparency, access to information, and accountability in the management of public affairs.’”
News
NGX Unveils Net-Zero Plan for Greener Capital Market

Nigerian Exchange Limited (NGX) has launched the NGX Net-Zero Programme to guide listed companies toward clear carbon reduction pathways and enhanced climate disclosures aligned with global investor standards.

NGX
The high-level launch engaged chief executives of quoted firms alongside development partners including German Investment Corporation KfW, DEG, and African Foresight Group (AFG), NGX’s implementation partner. Issuers and investors discussed financing decarbonisation, sustainability practices, and attracting climate-aligned capital.
NGX Group Chairman Dr Umaru Kwairanga described the initiative as concrete climate action, commending partners for two years of groundwork. “Today marks leadership and decisive action. Climate change has become a core business imperative, with capital markets mobilising capital and setting standards,” Kwairanga said.
He positioned NGX Net-Zero to support emissions measurement, disclosure, capacity building, and sustainable finance access, urging CEOs to embrace it strategically rather than as compliance. Kwairanga reaffirmed NGX’s goal to make Nigeria’s capital market Africa’s green finance hub.
Group CEO Temi Popoola called climate action a business imperative, noting sustainability-embedded firms attract capital, manage risks, and stay competitive. DEG Management Board Member Monika Beck highlighted partnerships scaling impactful, commercially viable climate solutions.
The event closed with a ceremonial gong marking the programme launch and send-off for outgoing DEG Regional Director Bernd Telemann.
News
Nigeria Off EU High-Risk Money Laundering List in Major Financial Win

Nigerian Financial Intelligence Unit (NFIU) has hailed Nigeria’s removal from the European Union’s list of high-risk third countries for Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) as a landmark achievement endorsing the nation’s reform efforts.

Nigerian Financial Intelligence Unit (NFIU)
NFIU CEO Hafsat Abubakar Bakari said the delisting, contained in European Commission Delegated Regulation (EU) C (2025) 8460 adopted December 4, 2025 and effective January 29, 2026, affirms sustained AML/CFT and Counter Proliferation Financing (CPF) reforms.
The move follows Nigeria’s exit from the FATF Jurisdictions under Increased Monitoring after addressing strategic deficiencies, alongside Burkina Faso, Mali, Mozambique, South Africa and Tanzania.
Bakari noted the European Commission recognised Nigeria’s strengthened AML/CFT effectiveness, closed technical gaps, and fulfilled FATF Action Plan commitments leading to grey list removal in June and October 2025.
The delisting eliminates enhanced due diligence requirements for EU financial transactions, easing compliance, boosting cross-border flows, and enhancing Nigeria’s appeal for European trade, investment and partnerships.
The NFIU attributed success to President Bola Ahmed Tinubu’s political will and collaboration among National Assembly, law enforcement, regulators, judiciary, private sector and development partners.
The agency reaffirmed commitment to ongoing FATF, GIABA, EU engagement and domestic framework resilience to maintain international confidence in Nigeria’s financial system.
News
FG Directs Banks, Fintechs to Remit VAT on Service Fees

The Federal Government has directed all banks and fintechs to collect and remit 7.5 per cent value-added tax on certain electronic banking services, effective Monday, January 19, 2026, according to an email notice issued by payment platforms.

The VAT will apply to electronic banking charges, including mobile money transfers, USSD transaction fees, and card issuance fees, according to an email notice on Wednesday shared with customers by Moniepoint.
For example, if a bank charges N100 to make a transfer, the 7.5 per cent VAT will be applied to that service fee, not the money being sent.
“From Monday, January 19, 2026, we are required to collect a 7.5 per cent VAT, to be remitted to the Nigerian Revenue Service (formerly known as the Federal Inland Revenue Service).
“VAT will apply to certain banking services that include electronic banking charges such as mobile banking fees (transfers), USSD transaction fees, and card issuance fees,” the email read.
Other operators are expected to issue similar notices to their customers in the coming days. Services that will remain exempt include interest earned on deposits and savings, meaning customers will not pay tax on the returns from their accounts.
The NRS, formerly known as the Federal Inland Revenue Service, has set the deadline to ensure that all commercial banks, microfinance banks, and electronic money operators comply with the collection and remittance requirement.
Moniepoint stressed that this is not a price increase but a statutory obligation. “Moniepoint is required to collect and remit VAT to the Nigerian Revenue Service,” the company said in a statement.
The move is part of the government’s broader efforts to standardise VAT collection on digital financial services and expand revenue generation amid Nigeria’s growing digital economy. VAT on banking transactions is not entirely new; the NRS is now enforcing uniform collection rules across all platforms, ensuring compliance across the sector.
Customers have been assured that the new tax will be clearly itemised, with the VAT shown separately on transaction statements and reports.
In December, several commercial banks informed customers that the N50 stamp duty would be deducted on electronic transfers of N10,000 and above, following the commencement of provisions of the new Tax Act.
The charge, previously known as the EMTL, has now been formally reclassified as stamp duty and will be applied as a one-off fee on qualifying electronic transfers.
E-Financial3 days agoAngst as FG Demands 7.5 Percent VAT on Mobile Bank Transfers, USSD
News3 days agoMoniepoint Launches Second Cohort of DreamDevs Initiative to Double Down on Africa’s Tech Talent Pipeline
E-Financial3 days agoNGX lists 3.156bn UBA shares, boosting capital to N513Bn
E-Financial3 days agoThe Missing Pieces in Nigeria’s Banking Recapitalisation
Telecom3 days agoGlo Unveils Immersive Gaming Experience, Travel Saga
E-Business3 days agoHalf of Global Companies Build SOCs to Enhance Cybersecurity, with a Focus on Human Expertise
E-Financial2 days agoPaystack Expands Beyond Payments into Banking
General News3 days agoNITDA DG Reaffirms Nigeria–U.S. Partnership on Data Privacy, AI and Cybersecurity


















