Temu, the global e-commerce platform expanding in Nigeria, has officially addressed an inquiry from the Nigeria Data Protection Commission (NDPC) over alleged data privacy violations, confirming its commitment to compliance with the Nigeria Data Protection Act (NDPA) 2023.

Temu

The company’s response follows NDPC’s investigation into Temu’s data processing practices.

In a statement to Nigeria CommunicationsWeek, Temu stressed its dedication to local and international data protection standards, noting ongoing communication with the regulator. “At Temu, protecting user privacy and data security is a top priority. We are committed to complying with applicable laws and regulations in our data practices,” the statement read.

Temu further affirmed: “We can confirm that Temu has received the inquiry and is engaging with the Commission. We will continue to engage in open and constructive dialogue with the NDPC to address any questions or concerns.”

Under Dr. Vincent Olatunji’s leadership, NDPC has ramped up scrutiny of foreign digital platforms to safeguard Nigerian citizens’ personal data—from contact details to financial information—ensuring transparent and secure handling. For e-commerce giants like Temu, managing vast consumer data volumes demands strict regulatory alignment to sustain operations and trust in Africa’s biggest economy.

Industry observers view Temu’s proactive stance as a savvy bid to ease tensions, mirroring Nigeria’s firm handling of platforms like X (formerly Twitter) and fintechs. This engagement underscores NDPC’s rising clout, compelling investors and foreign entrants to prioritise data compliance costs.

Nigeria CommunicationsWeek sees Temu’s approach as a model for global retailers eyeing Nigeria’s booming digital retail sector through 2026.

Engr. Gbenga Adebayo, chairman of the Association of Licensed Telecom Operators of Nigeria (ALTON), has said Nigeria possesses adequate telecom infrastructure to support real-time electronic transmission of election results.

Telcos

Speaking on concerns raised about the country’s readiness, Adebayo insisted that any assessment of telecom coverage not issued by the Nigerian Communications Commission (NCC) should be treated with caution.

“On what survey or data is the Senate basing its claim of inadequate telecom infrastructure?” he asked. “Currently, more than 70 percent of the country is covered by 3G and 4G networks. 5G coverage stands at about 11 percent, while the remaining areas are served by 2G.”

He added that even 2G networks are capable of supporting electronic transmission of results.

“I don’t know the source of the Senate’s information, but imposing a blanket ban on electronic transmission based on incomplete or inaccurate claims about infrastructure and investment is not justified,” he said.

Adebayo acknowledged that security challenges in about two states have made it risky for telecom operators to maintain facilities in certain locations.

However, he stressed that such issues could be addressed collectively by relevant stakeholders rather than concluding that the entire country is unprepared for electronic transmission.

His position aligns with that of the Independent National Electoral Commission (INEC), which in 2022 dismissed similar concerns.

INEC had explained that in areas with temporary network challenges, results uploaded to its iREV portal would automatically transmit once the devices entered locations with network coverage.

By Lukman Otunuga, Senior Market Analyst, FXTM

In a welcome development for Nigeria’s economy, inflation unexpectedly slowed in January, with prices rising 15.1% year-on-year.

Lukman Otunuga

This represented a slight decline from 15.2% in December and was well below the 19.5% medium estimate. Lower food prices have helped offset inflationary pressures, paving the way for the CBN to cut rates in February after leaving benchmark rates at 27% in November.

In addition, the argument for lower rates has also been reinforced by Naira’s 8% appreciation against the dollar year-to-date.

So, the question is not if but how much the CBN will slash interest rates next week.

Outside of Nigeria, it’s a quiet start to another potentially busy week for markets.

The dollar is rangebound, gold is lower, bitcoin lacks direction, while oil benchmarks await a fundamental spark.

Nevertheless, things could spice up thanks to top-tier data and geopolitical developments.

On Tuesday, the US-Iran talks in Geneva may shape the near-term outlook for oil, which has gained over 10% year-to-date amid geopolitical risk.

Throughout the week, key data from Europe, the United Kingdom, Japan, and Australia may inject fresh life into global FX markets.

In the crypto space, Bitcoin is down over 20% year-to-date with prices currently hovering around the $70,000 level. Prices remain under pressure on the daily charts with $60,000 marked as a liquidation level, according to reports from Bloomberg.

This week’s main event may be the Fed minutes, US PCE, and the delayed US Q4 GDP report. The December PCE report will offer fresh insights into consumption while the GDP should provide insight into the health of the largest economy in the world.

Last Friday, the soft US CPI report supported the case for lower rates with traders pricing a 50% chance of a three Fed interest rate cuts in 2026.

Should the Fed’s preferred inflation gauge and latest GDP reinforce these dovish bets, this may deal another blow to the dollar while lending support to gold and US equities.

Speaking of gold, prices ended last week above the psychological $5000 level but has kicked off Monday on a timid note. With markets in China closed this week, liquidity is likely to be thinner with geopolitics and US data driving prices. Should $5000 prove reliable support, gold may rally back toward $5100. However, weakness below $5000 could see a decline back toward $4880 and $4850.