News
eTranzact Aims at Becoming Global Leader in Payment Industry

Mr. Wole Abegunde, the chairman, eTranzact International Plc, haas said the company is poised and committed to becoming a regional leader in the medium term and in the long term, a global leader in the electronic and mobile payment industry.

Abegunde, who was represented by Mr. Afolabi Oladele at the 19th Annual General Meeting (AGM) of the company in Lagos promised shareholders that the company would continue to deliver secure, cost-effective, and innovative electronic and mobile payment services that are compliant with globally recognized standards.
He said 2022 was a significant year in the history of the company’s financial performance as the company was able to achieve an unprecedented profit after tax of N1.17 billion which represents 157.81per cent increase over the prior year.
According to him, “The focus and expansion of the company’s core switching services) has been pivotal in the improvement of the company’s performance.
“The landmark achievement is down to the management’s drive for excellence and demonstration of the commitment of the management and the board to ensure maximum returns on the investment of shareholders. The Company will not relent on the performance and will seek more business opportunities to boost subsequent financial results.”
On strategic positioning, he said “As a company, we fully understand the benefits of strategic alliances and the potential business opportunities these can create. We have fostered new relationships, enhanced and deepened existing ones and explored newer opportunities within our ongoing associations with existing Partners. We are positive that our alliances will lead to improved performances in the years ahead.”
Speaking also, the Managing Director eTranzact, Olaniyi Toluwalope said 2022 was one of milestones and major strides in further establishing eTranzact as the Superfintech of Choice.
He explained further that, “It is a privilege and honour to be the anchor and at the forefront of driving the Company towards the achievement of the corporate objectives) and the overall vision.
“eTranzact International continued on the path of the impressive streak of profitability, excellence and quality service delivery, which were the highlights and hallmarks of 2021.
“The Board, Management and Staff took a firm commitment to surpass the performance and achievement of 2022 and the message and goal were clear across all ranks within the Company. All efforts were geared towards building on the gains of 2021and the entire Company was in sync and i am proud to say we delivered on our common goal as a Company, for 2022.
“The journey was filled with lots of challenges and setbacks but at the end of the year, the efforts and commitment were worth it and it is with utmost satisfaction and sense of fulfillment to be a part of the success story of 2022.
“The total volume and value of transactions processed have continued to increase tremendously year on year, in line with the development and expansion of the payments/electronic payments industry in Nigeria.
The volume of electronic transactions peaked at the highest in five years in 2022, with a total value of N387 trillion. The huge growth is premised on the shift of more consumers towards the use of electronic banking channels for financial transactions.
“Positive regulatory policies, predominantly youth population, and influx of talent and expertise have further contributed significantly to the growth of the payments industry in Nigeria. The preference for digital payments in Nigeria aligns with global payment trends as access to affordable mobile devices made more consumers to key into and opt for the digital payments capabilities.”
He said the expansion of the payments industry is expected to continue at a fast pace with the emergence of mobile network providers channeling their vast networks and spread to deliver financial services.
“The meteoric rise in agency banking network is also proving to be a key enabler of the growth in the industry.
“eTranzact International as one of the foremost payment service providers in the payments industry in Nigeria, processed over N50 trillion in value of total transactions processed in 2022. The value increased significantly in comparison to the N39 trillion processed in 2021. The company is well positioned and has enhanced the capacity to further process more transactions going forward.
“eTranzact further increased the coverage of the switching services by bringing onboard key commercial banks, other financial institutions and Fintechs through Switchlt which has been well acclaimed by the various partners and gaining momentum as a major switching channel/product. eTranzact has further enhanced the direct debit mandate capability to expand the range of services/solutions available to partners and merchants.
“eTranzact made significant investments in 2022 towards the development of the card switching and card processing capabilities. The company has been able to obtain to the necessary certifications from the major card issuers and the card business is set to commence and be a key revenue driver,” he added.
News
US Begins Partial Visa Ban on Nigerians January 1

The United States will begin a partial suspension of visa issuance to Nigerians from January 1, 2026, following a new presidential proclamation aimed at strengthening border and national security.

The US Mission in Nigeria announced on Monday that the restriction will take effect at 12:01 a.m. Eastern Standard Time in accordance with Presidential Proclamation 10998, titled ‘Restricting and Limiting the Entry of Foreign Nationals to Protect the Security of the United States.’
According to the mission, Nigeria is one of 19 countries affected by the measure.
Others listed are Angola, Antigua and Barbuda, Benin, Burundi, Cote d’Ivoire, Cuba, Dominica, Gabon, The Gambia, Malawi, Mauritania, Senegal, Tanzania, Togo, Tonga, Venezuela, Zambia and Zimbabwe.
The proclamation provides for a partial suspension of visa issuance covering nonimmigrant B-1/B-2 visitor visas, as well as F, M and J student and exchange visitor visas.
It also applies to immigrant visas, though with limited exceptions.
The statement read in part, “Effective January 1, 2026, at 12:01 a.m. EST, in line with Presidential Proclamation 10998 on “Restricting and Limiting the Entry of Foreign Nationals to Protect the Security of the United States,” the Department of State is partially suspending visa issuance to nationals of 19 countries – Angola, Antigua and Barbuda, Benin, Burundi, Cote D’Ivoire, Cuba, Dominica, Gabon, The Gambia, Malawi, Mauritania, Nigeria, Senegal, Tanzania, Togo, Tonga, Venezuela, Zambia, and Zimbabwe – for nonimmigrant B-1/B-2 visitor visas and F, M, J student and exchange visitor visas, and all immigrant visas with limited exceptions.”
US officials clarified that the policy does not apply to all travellers. Exemptions include immigrant visas for ethnic and religious minorities facing persecution in Iran, dual nationals applying with passports from countries not affected by the suspension, and Special Immigrant Visas for eligible US government employees.
Other exempted categories include lawful permanent residents of the United States and participants in certain major international sporting events.
The US government emphasised that the proclamation applies only to foreign nationals who are outside the United States on the effective date and who do not hold a valid US visa as of January 1, 2026.
“Foreign nationals, even those outside the United States, who hold valid visas as of the effective date are not subject to Presidential Proclamation 10998. No visas issued before January 1, 2026, at 12:01 a.m. EST, have been or will be revoked pursuant to the Proclamation,” the statement added.
Visa applicants from affected countries may continue to submit applications and attend interviews. However, the US Mission noted that such applicants “may be ineligible for visa issuance or admission to the US” under the new rules.
The announcement comes amid a series of recent US policy decisions that have raised concerns among Nigerians seeking to travel, study or migrate to the country.
In October, the United States added Nigeria back to its list of countries accused of violating religious freedom, citing persistent insecurity and attacks on Christian communities. This was followed by Nigeria’s inclusion on a revised US travel ban list that imposed partial entry restrictions on Nigerians.
The US has also tightened immigration and visa policies affecting Nigerians. Earlier this year, the validity of most non-immigrant visas issued to Nigerians was reduced to single-entry visas with a three-month duration.
News
DPLAN Threatens NDPC with Legal Action for Setting aside $32.8m Meta Fine


The pre-action notice was signed by Emmanuel Okpara, Esq., Litigation and Compliance Director, and Mus’ab Awwal Mu’az, Esq., secretary of the Association’s Steering Committee.
The dispute stemmed from a consent judgment delivered on November 3, 2025, by Justice J.K. Omotosho of the Federal High Court, Abuja, in Suit No: FHC/ABJ/CC/355/2025 between Meta Platforms, Inc. and the NDPC.
Following investigations conducted under the Nigeria Data Protection Act (NDPA), 2023, the NDPC had issued a Final Order against Meta Platforms, Inc., finding “widespread violations of the data protection and privacy rights of approximately 61 million Nigerians,” and imposing a remedial fine of USD 32,800,000.
The pre-action notice was signed by Emmanuel Okpara, Esq., Litigation and Compliance Director, and Mus’ab Awwal Mu’az, Esq., Secretary of the Association’s Steering Committee.
The dispute stemmed from a consent judgment delivered on November 3, 2025, by Justice J.K. Omotosho of the Federal High Court, Abuja, in Suit No: FHC/ABJ/CC/355/2025 between Meta Platforms, Inc. and the NDPC.
Following investigations conducted under the Nigeria Data Protection Act (NDPA), 2023, the NDPC had issued a Final Order against Meta Platforms, Inc., finding “widespread violations of the data protection and privacy rights of approximately 61 million Nigerians,” and imposing a remedial fine of USD 32,800,000.
The NDPC investigation stemmed from a petition filed at the commission on August 14, 2023, against Meta Platforms Inc. by the convener of Personal Data Protection Awareness Initiative, Ozoemena Nwogbo, regarding violation of the Nigeria Data Protection Act.
After its investigation, NDPC found Meta Platforms Inc. wanting and, on February 18, 2025, issued nine Final Orders against Meta Platforms Inc.
NDPC’s Order
The NDPC’s order nine reads, “Meta shall pay the naira equivalent of 32,800,000 USD (Thirty-two million, eight-hundred thousand United States Dollars) as a remedial fee. The naira equivalent shall be at the rate determined by the Central Bank of Nigeria.
“The details of the account for payment of the remedial fee are as follows: Account Name: Nigeria Data Protection Commission Fund Account. Account Number: 0020331265048 (300131267). Use RTGS for payment.”
The NDPC added, “Note that Meta has a right to seek a judicial review of this decision. The Commission will closely monitor Meta’s remediation process and its impact on data subjects for upwards of six months.”
However, the Final Order was subsequently set aside through Terms of Settlement, which were adopted by the court as a consent judgment on November 3, 2025, following a suit marked FHC/ABJ/CS/355/2025, filed by Meta Platforms Inc. against the NDPC.
Part of the Terms of Settlement entered between NDPC and Meta Platforms Inc. reads, “The applicant (Meta Platforms Inc.) and the respondent (NDPC) have come to a mutual settlement agreement that resolves the dispute underlying the applicant’s originating Summons.
“Pursuant to this agreement: (I) the applicant has agreed to provide specific remedial consideration to the respondent in support of protecting the rights of data subjects in Nigeria; and (II) the respondent has inter alia agreed to set aside and waive any rights to enforce or take steps to enforce the Final Orders against the applicant.”
The settlement terms specifically read, “In the light of the foregoing: The applicant wholly and completely terminates, abandons, withdraws, and discontinues the Originating Summons as well as any and all claims against the respondent connected to or arising from the matters or the subject matter thereof, except as the parties have otherwise agreed.
“The respondent: (I) sets aside the Final Orders against Meta; and (II) save and except as the parties have otherwise agreed, fully and firmly releases and discharges Meta from any and all claims, demands, actions, causes of action, contracts, obligations, suits, debts, costs, liabilities, which the respondent ever had, may now have, or May hereafter claim to have against Meta in respect of the matters.”
Association Alleges Illegality In Settlement
But the Data Privacy Lawyers Association contended that the consent judgment was entered into unlawfully, arguing that it was done without lawful statutory authority, in violation of the Nigeria Data Protection Act, 2023, and in derogation of the constitutional right to privacy guaranteed under Section 37 of the Constitution of the Federal Republic of Nigeria, 1999 (as amended).
The Association further said the action was taken “to the grave prejudice of millions of affected Nigerians and the public interest, as well as the Federal Government of Nigeria.”
In the notice, the Association warned that unless the issues raised are urgently addressed within the statutory notice period, it would approach the Federal High Court to seek multiple reliefs.
These include an order setting aside, vacating, and nullifying the consent judgment on grounds of fraud, collusion, material non-disclosure, lack of statutory authority, and violation of the NDPA, 2023.
It is also seeking a declaration that the consent judgment is “null, void, unconstitutional, and of no legal effect,” as well as a declaration that the NDPC lacks statutory authority to waive, compro
Other reliefs sought include an order restoring and reviving the Final Order against Meta Platforms, including the $32.8 million fine, and an order restraining any further reliance on or enforcement of the consent judgment.
The Association also asked the court for other orders the Court may deem fit in the interest of justice, public accountability, and the protection of constitutional rights.
In the interest of transparency and accountability, the Association urged the NDPC to provide a written explanation of the legal basis for entering into the Terms of Settlement, clarify the statutory authority relied upon to waive the remedial fine and set aside the Final Order, and take steps to remedy the issues raised.
The letter, the Association said, constitutes the requisite pre-action notice under applicable law.
It warned that unless the concerns are satisfactorily addressed within 30 days of receipt of the notice, it will proceed to institute legal proceedings without further recourse.
mise, or extinguish liabilities, sanctions, or remedial fines arising from established violations of the Act.
News
Glo Extends Christmas Greetings, Urges Unity and Care for Others

As Christians in Nigeria and around the world mark the birth of Jesus Christ, Globacom has extended warm Christmas greetings, describing the season as one of goodwill and togetherness.

Reflecting on the significance of Christmas in a message released on Tuesday, the technology company said the period offers an opportunity for renewal, calling on Christians to uphold the values embodied by Jesus Christ, including love, humility and compassion for humanity.
Globacom noted that the circumstances of Christ’s birth continue to offer timeless guidance for society. “The noble yet humble birth of Jesus teaches virtues such as obedience to God, humility, love for mankind and a strong commitment to the common good. We encourage Christians to consciously practise these virtues as true followers of Christ,” the company stated.
Against the backdrop of today’s social and economic challenges, the company emphasized the shared responsibility of people of goodwill to care for others and to give generously, pointing to Christ’s acts of compassion, including his feeding of multitudes as recorded in the Bible.
Beyond the celebrations, Globacom urged Nigerians to sustain the true spirit of Christmas by consistently demonstrating love, promoting peace and fostering harmony—values that defined Christ’s life and teachings.
The company also wished its customers and Nigerians at large a joyful Christmas, while reaffirming its commitment to delivering reliable, high-quality services throughout the festive period and beyond, urging customers to take advantage of its wide range of innovative products and services to stay connected and share the joy of the season with loved ones.
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