Advancly, a credit-tech company, is proud to announce its partnership with Bolt Nigeria, to provide drivers on Bolt with access to credit. This strategic collaboration aims to support drivers’ financial needs, enabling them to receive up-front earnings and boost their productivity.

Through this partnership, drivers who earn consistently on Bolt will have seamless access to Advancly’s credit solutions via an integration with Bolt.

This integration streamlines the borrowing process for Bolt Drivers, offering a hassle-free experience and access to low-interest, short-term loans to cover pressing expenses such as fuelling and maintaining their cars, ultimately empowering them to enhance their services and grow their income.

“We are thrilled to embark on this journey with Bolt Nigeria and bring our innovative credit solutions to their extensive network of drivers,” said Lolia Kienka, Country Manager, Nigeria for Advancly.

“The gig economy is playing a vital role in shaping the future of business for independent workers and this partnership reaffirms our commitment to enable entrepreneurs grow on their own terms by providing them with access to credit.”

“We recognize the vital role that financial stability plays in the lives of our drivers,” added Yahaya Mohammed, Country Manager at Bolt Nigeria. “In addition to our platform, we are excited to offer them additional resources that will help them manage their finances, provide exceptional services to riders and ultimately grow their businesses with Bolt.”

Launching first in Lagos and Abuja in beta, this strategic collaboration marks a significant milestone in providing healthy financial options to people who work within the gig economy, underscoring both companies’ dedication to empowering people to take control of their finances, on their terms.

Federal High Court sitting in Lagos has held that a Central Bank of Nigeria (CBN) regulation, which requires financial institutions to demand and collect the social media handles of their customers, as part of the standard Know-Your-Customer procedure, is not a breach of the right to privacy.

Justice Nnamdi Dimgba struck out a suit filed by a Lagos-based lawyer, Chris Eke, seeking a declaration that the regulation as contained in Section 6(a)(iv) of the Central Bank of Nigeria (Customer Due Diligence) Regulations, 2023, is undemocratic, unconstitutional, null and void, to the extent of its inconsistency with Section 37 of the 1999 Constitution of the Federal Republic of Nigeria (as amended).

The applicant had also asked the court, to grant an order of perpetual injunction, restraining CBN from enforcing the regulation which requires financial institutions, to request customers’ social media handles as part of normal bank customer due diligence requirements.

The CBN in its response to the suit, filed a notice of preliminary objection, challenging the competence of the suit. The apex bank also disagreed that the said regulation constitutes any interference with the private life of the applicant, as claimed.

In his judgment, Justice Dimgba held that the notice of preliminary objection had merit, and he subsequently struck out the suit.

The judge said in his view, the provision of a social media handle is the same as the provision of email address, phone numbers and other means by which a potential customer of a bank can be contacted and or due diligence, to determine if the person is a fit and proper person for the bank to do business with, and as such, the regulation does not amount to an infringement on the right to privacy.

According to Justice Dimgba, the essence of having a social media account was for one to be publicly visible communication-wise, and it would be highly unreasonable to hold the CBN in breach of privacy for it.

The judge held that “First, the Applicant claims that the requirements on the CBN Regulations for financial institutions to request and collect the social media handle of its customers as part of KYC infringes on his right to privacy.”

“This claim is very ambitious and amounts to a very far throw. The said Regulations are directed to and apply to financial institutions. It does not apply to private individuals such as the Applicant.

“Even if, as appears to be argued, that the Regulations itself would inevitably affect the Applicant, this claim is speculative for the simple reason that in nowhere in the affidavit in support was it stated that the Applicant operates an account with a financial institution and that the said institution had demanded his social media handle. So the suggestion that he would be affected by this Regulation, albeit negatively, is very speculative and at large.

“Secondly, there is also no deposition to the effect that any financial institution had begun to implement this Regulation and that its implementation had begun to create disruptions and inconvenience against the general population, in which case one could infer that the suit should be legitimated as a public interest litigation.

“Thirdly, assuming even that the banks had begun to implement these regulations, the applicant assuming he maintained any bank accounts or sought to open one, but is being hindered or irritated by the requirement of the Regulation to avail his social media handle as part of KYC, the Applicant still had a choice, which is to refuse to do business with any bank insisting on the information as part of its social media handle, but to seek other alternatives.

“Fourthly, and for all it is worth, I do not see how asking a banking or potential banking customer to provide his social media handle can ever amount to a breach of privacy.

“Granted that Section 37 of the Constitution of the Federal Republic of Nigeria 1999 (as amended) provides inter alia: “The privacy of citizens, their homes, correspondence, telephone conversations and telegraphic communications is hereby guaranteed and protected.

“My view is that the provision of a social media handle is of the same genre as the provision of email address, phone numbers and other means by which a potential customer of a bank can be contacted.

“Thus, it is clear from the face of the Regulations as set out above that email addresses, phone numbers and social media handles are all provided for under clause 6iv just to show that the aim was not to pry on anyone but rather to provide alternative ways by which a customer of the bank can be contacted, and or due diligence conducted on the person to determine if the person is a fit and proper person to extend banking services to.

“I do not see how this infringes on the right to privacy. I should even say that the essence of having a social media account was for one to be publicly visible communication-wise. It, therefore, appears quite ironic, though wryly, that one can suggest that asking for information about a social media handle with which the individual exposes and immerses himself or herself in the public, can amount to a violation of privacy rights, which rights itself is all about isolation of one from public glare.

“It is also to my knowledge that even in filling some business applications, personal information of this sort, is sometimes requested, and parties generally oblige. If it does not constitute a breach of privacy, why should it now?

“A social media handle is left at large for the world to see, being in the public space, everyone enjoys the liberty to have access to it whether or not consent was obtained. It would be highly unreasonable to hold the Respondent in breach of privacy for what other persons have access to.

“The apprehension of the Applicant of his social interactions being monitored is manifestly speculative in itself and rather incredulous to believe that the financial institutions have the luxury of time to concern itself with such frivolities.

“On the whole, if I did not sustain the NPO, I would have dismissed the suit for the reasons stated. But the NPO having been sustained, the suit is therefore hereby struck out.

“I make no order as to costs”.

The President of the Federal Republic of Nigeria, His Excellency Bola Ahmed Tinubu has commissioned the Seplat Energy ANOH Gas Processing Plant, marking a significant milestone in Nigeria’s energy landscape. The commissioning ceremony, which was held May 15, 2024, in Ohaji, Imo State, brought together key stakeholders in the industry.

Right-Left: Effiong Okon, MD ANOH Gas Processing Company; Roger Brown, CEO Seplat Energy Plc; Mele Kyari, GCEO NNPCL; Chinyere Ekomaru, Deputy Governor of Imo State; Udo Udoma, Board Chairman, Seplat Energy Plc and others during the Presidential Commissioning of the ANOH Gas processing Company in Owerri, on Thursday 15th May 2024.

Built by the ANOH Gas Processing Plant Company (AGPC), the ANOH plant is a joint venture owned equally by Seplat Energy and the Nigerian Gas Infrastructure Company (NGIC), a wholly owned subsidiary of Nigerian National Petroleum Corporation (NNPC). The Plant attained mechanical completion in December 2023 without a single recordable Lost Time Incident (LTI) across 12 million man-hours. With a Phase One processing capacity of 300 million standard cubic feet per day, The ANOH Gas Processing Plant Company is expected to deliver dry gas, condensate, and LPG to domestic and international markets.

Speaking at the commissioning occasion, The President of the Federal Republic of Nigeria, Bola Ahmed Tinubu, commended Seplat Energy and its partners for their dedication to advancing Nigeria’s energy agenda. He stated, “Today is a great day of achievement demonstrating teamwork, commitment, and dedication to duty. I congratulate you for all you have done for the country and for fulfilling this in only 11 months. This event is highly significant and demonstrates the administration’s determination to accelerate the development of critical gas infrastructure geared at demonstrably enhancing the supply of energy to boost industrial growth and create employment opportunities and further prosperity for the nation.

“The project also fully aligns with the Decade of Gas initiative and our quest to create value from the nation’s abundant gas asset while eliminating gas flaring and celebrating industrialization. I wish to assure the Nigerian people that indeed this project represents only the beginning as the Federal government is stepping up its coordination of other landmark projects and initiatives that will ensure the earliest possible realization of gas fuel for prosperity in abundance”.

In his remarks Mr. Udoma Udo Udoma, Board Chairman, of Seplat Energy, emphasized the strategic importance of the ANOH project, adding that “The ANOH gas project strongly aligns with Seplat Energy’s mission of leading Nigeria’s energy transition with accessible, affordable, and reliable energy that drives social and economic prosperity. As a testament of our pledge to Nigeria, in partnership with the NNPC Ltd, we have delivered this project that will support the current administration’s drive for industrialization and growth of the economy through low-cost reliable power.

“To put this into context, if all of the gas from this plant went into the power sector, it would produce enough electricity to transform the lives of over 5 million people. Given that Nigeria’s population is growing at a rate of over 5 million per annum, we need one of these plants a year every year just to meet the demand of our new arrivals. We all have work to do. We appreciate the unwavering support of our partner NNPCL, the cordial relationship with our host communities, Imo state government and the support of all stakeholders that are too many to mention.”

Commenting on the commissioning of the ANOH project Mr. Roger Brown, CEO, of Seplat Energy, stated that, “Seplat Energy is pleased with the progressive reforms by His Excellency President Bola Ahmed Tinubu and his administration. In March 2024, the President signed executive orders to enhance investments in greenfield gas development and midstream capital projects. Also, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) recently improved gas prices under the DSO, to trigger further investments to the domestic gas sector – our ANOH gas plant will benefit from these reforms and incentives. “No doubt, the ANOH’s gas will further reduce Nigeria’s carbon intensity and increase energy supplied to the Nigerian domestic market.”

The commissioning ceremony was well-attended by members of the Board, Management and Staff of Seplat Energy, government officials, institutional partners, traditional rulers as well as indigenes, and industry players, amongst other stakeholders.

Speaking on the collaborative efforts between Seplat Energy and the Nigerian Gas Infrastructure Company (NGIC) in bringing the ANOH Plant to fruition, Mr. Mele Kyari, the Group CEO of NNPC Ltd stated that, “The ANOH Gas Processing Plant being commissioned by NNPCL and our partner is in line with Nigeria’s decade 0f gas agenda and particularly consistent with the administration’s efforts to boost gas supply in the domestic market”.

Also speaking at the commissioning, Imo State Governor, Hope Uzodinma ably represented by the Deputy Governor, Mrs. Chinyere Ekomaru, congratulated Seplat Energy on the record time completion of the project and expressed his delight at the opportunities that lie ahead of the State on account of the successful completion of the ANOH plant, just as Rt. Hon. Ekperikpe Ekpo, the Minister of State Petroleum Resources (Gas) remarked that, “With a capacity of 600 million standard cubic feet per day, the ANOH Gas Processing Plant is a shining example of advancement. This plant will greatly advance the availability of domestic gas which will boost power generation and hasten industrialization.”

The ANOH Gas Processing Plant, located at Ohaji, in Imo State, is set to become one of Nigeria’s most strategic gas projects. It is poised to pave the way for increased gas production in Nigeria, accelerating the nation’s transition from small-scale diesel generators to cleaner, less expensive fuels such as natural gas for power generation. In February 2021, AGPC, successfully raised $260 million in debt to fund completion of the ANOH project. The project is now fully funded following the completion of equity investments of $210 million by each partner ($420 million combined).

Seplat Energy is committed to maximizing the potential of the ANOH Gas Processing Plant and delivering value to all stakeholders. As the plant begins operations, Seplat Energy looks forward to harnessing its full potential and contributing to Nigeria’s energy transition journey.