General News
FG Slashes Business Registration Cost for SMEs by 60%

Federal government has reduced the costs of registering Small and Medium Scale Enterprises (SMEs) with the Corporate Affairs Commission by 60 per cent.
Olusegun Aganga, minister of Industry, Trade and Investment, stated this while speaking at the 8th annual Micro, Small and Medium Enterprises finance conference.
The conference with theme ‘MSME financing in Nigeria: Past, present and future’ was conceptualised to look at the MSME finance sub-sector from a holistic perspective.
Aganga said the directive for the reduction of the business registration costs was given by President Goodluck Jonathan, adding that the development underscored the importance of the sector to poverty reduction, job creation and inclusive growth.
He said since SMEs account for about 80 per cent of businesses registered with the CAC as well as about 50 per cent of the country’s Gross Domestic Product, there was need to remove all factors that would impede their development to nation building.
He said, “The administration of Mr President has made it a matter of importance to support MSME in certain key areas-access to affordable finance which we are doing here today, access to markets, formalization of businesses, skill acquisition, provision of infrastructure to reduce the cost of businesses for SMEs.
“Already, the president has approved a reduction in the cost of setting up SMEs by 60 per cent and the idea is to reduce the cost of doing business.
“So today if you are going to CAC to set up a company, then know that the costs have been reduced by 60 per cent already.”
He said the N220bn facility whose disbursement was flagged off at the event by Jonathan would help not only to empower SMEs, but address the access to financing needs of the sector in an efficient and sustainable manner.
Jonathan while speaking at the event commended the CBN for providing the fund for the development of the sector at an interest rate of nine per cent.
He added that the decision of the apex bank to set aside 60 per cent of the fund for women was in line with his administration’s commitment to women empowerment.
The president said MSMEs have been recognized globally as the engine of growth in any development-oriented economy.
He added that due to their inherent labour intensive production processes, they also provide a veritable platform for job creation.
He said, “All over the developed world, the contribution of MSME to GDP is on the average of about 47 per cent, this shows clearly how important the MSME are to us.
“With about 17.3 million SMEs in Nigeria, there is need for more concrete and concerted efforts to expand the activities of MSMEs in our country.”
He said the focus of this year’s conference which is geared towards enhancing access to finance was appropriate noting that a vibrant MSME sub sector was indispensable to achieving sustainable transformation in the Nigerian economy.
Jonathan said as Africa’s largest economy with excellent prospects of becoming one of the 20 largest economy in the world in the nearest future, it is imperative that the challenges confronting MSMEs are addressed “frontally at this time.”
The President said his administration had already instituted a number of reforms to improve the business environment and build strong institutions that would fast track the growth and progress of MSMEs.
He said, “Given that the structural transformation of the economy remains our core priority, we are investing heavily in critical infrastructure to promote job creation and inclusive growth.
“We are aware that inadequate infrastructure increase the cost of production by estimated 30 per cent making Nigerian goods under-competitive and we need to improve on that.
“The federal government believes that stable power supply is the bedrock of our industrial development. It will not only reduce the cost of manufacturing and services significantly, it will also engender investments and create jobs.”
He also said as part of measures to enhance the contribution of MSMEs to economic growth, the Federal Government will establish a wholesale development finance institution, which would provide long term funds of up to 15 years for industrial development.
He added that existing DFIs would be restructured for better performance and improved access to finance by the MSMEs.
He said the enormity of the task ahead requires immediate and dedicated action adding that this underscores the need to effectively disburse the N220bn MSME fund.
In his keynote address delivered at the event, Mr Godwin Emefiele, CBN governor, said the MSME financial gap, which is estimated at N9.6tr was one of the major reason why the apex bank intervened in the sector.
He said in view of the fact that cost and access to credit had continued to be an inhibiting factor to the survival and growth of many MSMEs in the country, the apex bank would be working with relevant stakeholders to establish a Secured Transaction and National Collateral Registry to facilitate the registration and acceptability of movable property as loan collateral.
He added that the bank would also encourage venture capital companies to fund MSMEs, as well as set up a National Credit Scoring System to improve access to information on borrowers to positively influence credit decisions,
“We would also enhance the operations of Credit Reference Bureaus. We believe that these efforts would improve the information available to potential lenders on persons seeking loans and therefore, help to isolate bad borrowers from credible ones,” he said.
He said going forward, the CBN’s focus would remain on sectors that can create jobs on a mass scale as well as reduce the country’s import bill and conserve the country’s foreign exchange.
For example, he said the bank would maintain a keen interest in supporting the creation of an enabling environment to trigger private sector investment to curb the growing trend of medical tourism, which has depleted the nation’s foreign reserves.
In the power sector, he said 36 power projects have received N115.73bn from the Power and Aviation Intervention Fund noting the apex bank would also carefully consider funding viable gas to power projects.
He said, “In fact, we are currently collaborating with the Ministries of Power and Petroleum Resources, the Nigerian Electricity Regulatory Commission and all relevant stakeholders to find innovative ways of dealing with the legacy gas to power debt.
“This is to ensure that the international oil companies and other producers of gas can significantly increase the production and supply of gas to power plants across the country.”
At the event, Union Bank of Nigeria Plc with a total loan exposure of N4.17bn for 14,752 projects was decorated by the president as the best performing bank in the Agricultural Credit Guarantee Scheme.
Similarly, Sterling Bank Plc, with a total exposure of N6.16m in nine projects won the best performing bank in Commercial Agriculture Credit Scheme.
Based on the guidelines of the MSME fund, each state of the federation would be able to access the sum of N2bn which would be administered to beneficiaries at an interest rate of nine per cent.
Already, the apex bank had signed Memorandum of Understanding with governors from Delta, Akwa Ibom, Osun, Oyo, Bayelsa, Gombe, Zamfara, Enugu, Ondo and Benue state to access the fund.
Also, two per cent of the fund would be made available for economically active physically challenged entrepreneurs.
General News
NITDA DG Reaffirms Nigeria–U.S. Partnership on Data Privacy, AI and Cybersecurity

Kashifu Inuwa Abdullahi, Director General of the National Information Technology Development Agency (NITDA), has reaffirmed Nigeria’s commitment to strengthening collaboration with the United States in building a secure, trusted, and resilient digital ecosystem, with a particular focus on data privacy, artificial intelligence, cybersecurity, and capacity building.

NITDA
He stated this while delivering an address at the Nigeria Data Privacy Capacity Building Workshop organised by the United States Department of State, in collaboration with the Nigerian Mission and relevant stakeholders in the digital ecosystem.
Expressing his excitement at the engagement, Inuwa described the workshop as a strong revalidation of the long-standing partnership between Nigeria and the United States in advancing the country’s technical and digital systems.
According to him, the collaboration is not a new initiative but part of a growing and deliberate effort by both countries to jointly address emerging digital challenges and opportunities.
Inuwa recalled that in April 2024, Nigeria and the United States, through the U.S.–Nigeria Binational Commission, agreed to work together on key areas including data privacy, artificial intelligence, cybersecurity, capacity building, and other aspects of digital development.
He further noted that the same year witnessed the successful hosting of an Artificial Intelligence Conference, co-hosted by the Nigerian Government and the U.S. Mission in Nigeria, as well as Nigeria’s participation in engagements with U.S. cybersecurity companies to explore partnerships aimed at strengthening Nigeria’s technical ecosystem.
He explained that NITDA’s emphasis on data privacy, AI, cybersecurity, and policy is anchored on one central objective: building trust in the digital ecosystem, adding that trust is a critical enabler of digital transformation, as its absence slows down innovation and increases costs, while its presence accelerates progress and reduces barriers to growth.
The NITDA Boss stressed that building a prosperous digital economy requires deliberate efforts to safeguard data privacy, strengthen security frameworks, and deploy AI responsibly.
He noted that artificial intelligence relies on data, data demands privacy, and privacy can only be guaranteed through strong security, making it impossible to address these issues in isolation.
Inuwa described the workshop as the beginning of broader engagements and deeper collaboration in other strategic areas, particularly as Nigeria continues to position itself as a key player in the global digital economy.
He disclosed that following the participation of the U.S. Mission in Nigeria’s National Cybersecurity Conference last year, plans are underway to expand the conference into an international cybersecurity platform this year.
According to him, the international conference will provide an opportunity for U.S. cybersecurity companies to showcase their technologies, explore partnerships with Nigerian firms developing local cyber solutions, and jointly strengthen Nigeria’s cybersecurity ecosystem.
Inuwa also reassured partners and stakeholders of NITDA’s commitment to building the right policies and enabling environment for innovation to thrive.
He noted that Nigeria, alongside Africa, represents the next frontier of the digital economy, driven by a young, digital-native population and a large, expanding market.
He said that while many public and private sector organisations in Nigeria rely on U.S. technologies to build their digital systems, the country also possesses significant local talent capable of developing homegrown solutions to address national and regional challenges.
He added that NITDA remains committed to working with international partners to build local capacity and promote Nigeria’s digital self-determination.
According to the DG, digital technology is no longer optional, as it represents the future of economic growth and development, and no nation can afford to be left behind.
He emphasised that the only way to fully harness the opportunities of the ongoing AI revolution is by safeguarding privacy, establishing sound policies, and laying a strong digital foundation capable of supporting rapid technological advancement.
He appreciated the U.S. Department of State and the U.S. Mission in Nigeria for their continued partnership and support, expressing optimism that the collaboration will be further strengthened to explore new areas of cooperation, particularly in cybersecurity and artificial intelligence, for the mutual benefit of both countries.
General News
Falana Wins $25,000 Damages from Meta over Fake Illness Video

Lagos High Court at TBS has awarded $25,000 in damages in favour of Mr. Femi Falana (SAN) in his $5 million lawsuit against Meta Platforms Inc., the US-based technology company owned by Mark Zuckerberg, over the alleged invasion of his privacy.

Early in 2025, a video was published on Facebook claiming that Falana was suffering from a terminal illness, which prompted the suit
Delivering judgment on Tuesday, January 13, Justice Olalekan Oresanya held that a global technology company such as Meta, which hosts pages for commercial benefit, owes a duty of care to persons affected by content disseminated on its platform.
Falana, through his lawyer, Mr. Olumide Babalola, accused Meta of publishing motion images and voice captions titled “AfriCare Health Centre” on its platform, suggesting that he suffered from a disease known as prostatitis.
He argued that the publication constituted an invasion of his privacy as guaranteed under Section 37 of the Constitution of the Federal Republic of Nigeria, 1999 (as amended).
Falana said the false video about his health status had tarnished his image and reputation built over the years.
He also contended that the publication, which he described as false, offensive and disturbing, painted him in a false light and caused him mental and emotional distress.
In its judgment, the court rejected the argument that digital platforms can rely solely on “hosting” or “intermediary” defences where the platform monetises content and the harm arising from misinformation is reasonably foreseeable.
Falana’s lawyer said the decision reinforces a standard of platform accountability under Nigerian law, aligning with emerging global jurisprudence.
The court further held that “the fact that the applicant is a public figure does not rob him of his right to privacy.” It found that the publication of false medical information intruded into the claimant’s private life, regardless of his public standing.
Babalola said the finding settles an important misconception in Nigerian legal practice and affirms that health data enjoys heightened protection, even for public figures.
The court also held that Meta determines the means and purposes of processing content, monetises pages, and controls distribution algorithms, thereby acting as a joint data controller with page owners.
Consequently, Meta was held vicariously liable for the offensive video.
Babalola said: “This is a major development under the NDPA and weakens the ‘mere platform’ defence traditionally relied upon by Big Tech.”
The court further ruled that Meta breached Section 24 of the NDPA by processing personal data that was inaccurate, harmful, lacked a lawful basis and was unfair to the learned Senior Advocate. The false health information was held to amount to unlawful processing per se.
It emphasised that where the risk of inaccuracy is foreseeable, particularly in relation to sensitive personal data, a platform owes a heightened duty to ensure accuracy and integrity.
The court held that Meta failed to deploy adequate safeguards to prevent or mitigate the harm.
As a global technology company with vast resources, Meta was expected to implement effective content-review mechanisms, rapid takedown processes and safeguards proportionate to the risks posed by misinformation. Its failure to do so, the court held, amounted to regulatory non-compliance.
General News
Paradigm Initiative Condemns the Internet Shutdown and Media Restrictions in Uganda Ahead of the 2026 General Election

Paradigm Initiative (PIN) strongly condemns the internet shutdown implemented in Uganda ahead of Thursday’s general election, as well as the restrictions placed on media coverage of protests and demonstrations. These actions constitute serious violations of digital rights, media freedom, and democratic principles at a critical moment in the country’s electoral process.

Internet Shutdown
Evidence indicates that internet access across Uganda has been disrupted, affecting social media platforms, messaging services, and online news outlets.
This development comes despite earlier public assurances by the Uganda Communications Commission that the government did not intend to shut down the internet during the elections.
The shutdown represents a troubling reversal of that commitment and raises serious concerns about transparency, accountability, and respect for fundamental rights.
Uganda has a well-documented history of internet shutdowns during elections, including during the 2016 and 2021 general elections. In 2021, a near-total internet blackout lasted several days, severely undermining freedom of expression, access to information, election observation, media reporting, and economic activity.
Repeating these measures despite widespread national, regional, and international condemnation demonstrates a continued pattern of using digital restrictions as a tool of election management.
Paradigm Initiative further condemns directives preventing media houses from covering protests or demonstrations during this period. Such restrictions violate media freedom and the public’s right to receive information, and undermine the role of the press as a democratic watchdog. Suppressing coverage of protests fuels misinformation, heightens tension, and erodes public trust in the electoral process.
Article 29 of the Constitution of the Republic of Uganda guarantees the rights to freedom of expression, freedom of the press and other media, and access to information. Uganda is also a State Party to the International Covenant on Civil and Political Rights (ICCPR) and the African Charter on Human and Peoples’ Rights, which protect these rights under Articles 19 and 9, respectively.
Any restriction on these rights must meet the strict tests of legality, necessity, proportionality, and legitimate aim. Blanket internet shutdowns and platform restrictions fail these tests and are incompatible with Uganda’s constitutional and international obligations.
At the international level, the United Nations Special Rapporteur on the promotion and protection of the right to freedom of opinion and expression, together with other UN Special Procedures mandate holders, has consistently affirmed that internet shutdowns are inherently disproportionate and can never be justified under international human rights law, including during elections, protests, or periods of political tension.
The African Commission on Human and Peoples’ Rights has recently issued a specific call urging the Government of Uganda to keep the internet on and to respect freedom of expression and media freedom during the current electoral period.
This call builds on established African human rights standards, including Resolution 580 on Internet Shutdowns and Elections in Africa and Principle 38 of the Declaration of Principles on Freedom of Expression and Access to Information in Africa, which prohibits States from interfering with access to digital technologies.
Internet Service Providers and technology companies operating in Uganda also bear responsibility under the UN Guiding Principles on Business and Human Rights to respect human rights, ensure transparency, and avoid complicity in unlawful or disproportionate restrictions on connectivity.
Paradigm Initiative calls for:
The immediate restoration of full internet access across Uganda and an end to all forms of digital disruption during and after the electoral period.
The withdrawal of all directives restricting media coverage of protests, demonstrations, or political developments during elections.
Accountability from Internet Service Providers, including the publication of transparency reports to users detailing government orders affecting internet access.
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