News
Consumers Cry, Urge Regulators to Act
World Consumers’ Right Day has come and gone but the recently held consumer forum in Lagos offered an opportunity to discuss various issues which every consumer is daily confronted with while doing business with the banks in the country.
Speaker after speaker, who took turn to comment on how banks have been ripping innocent customers off their hard earned money, expressed their frustration and disapproval of the situation.
At the forum which was the fourth edition in a series being held by the Brand Journalists Association of Nigeria (BJAN), president of the association, Goddie Ofose, while giving his welcome remark, noted that the choice of the theme, “Banking in Nigeria: Developments Customers’ Challenges,” was relevant, apt and timely in view of the numerous complaints emanating from consumers both in the country and abroad.
Ofose noted that the essence of the forum was to draw the attention of stakeholders to the plight of consumers, stressing that there was need to address the problems. While calling the Central Bank of Nigeria to act, he emphasised the need for the regulatory body to act in the interest of consumers.
On his part, the guest speaker on the occasion, who also doubles as managing director of a leading public relations firm, Tokunbo Modupe, while taking the gathering down memory lane on what constituted a major impediment to modern banking in Nigeria, said the fact that the system was largely dominated by foreigners at inception led to difficulties encountered by Nigerians in securing loans, stressing that the situation forced many consumers to own stake in the banks. He said that even though the indigenously owned banks could not survive due to mismanagement, lack of regulation, Modupe, noted that the problem associated with loss of confidence on the part of consumers with banks emanated from that failure.
While commending the effort of some Nigerians who came to rescue the situation at that time, Modupe stated that the introduction of regulation as espoused by CBN contributed significantly to stabilize the system.
Speaking further on the challenges which the banking system had to confront with, Modupe explained that the decision by government at both state and federal levels to own and run banks impeded growth as activities in the system fell short of professionalism as obtained elsewhere.
According to him, many of the banks are subject to a lot of political considerations which led to erosion of confidence. Modupe who admitted that the reform which took place in the banking system helped a great deal in stabilizing the economy particularly when the economy was in distress, however, pointed out that bank customers were made to bear the brunt with many of them expressing dissatisfaction with the banking industry. According to him, it was a period when all sort of charges were introduced by the Central Bank of Nigeria, a development many consumers consider as violation of their right.
Modupe, who bemoaned the excessive charges that include management fees, processing fees, interest charges, commission on turnover, card maintenance fees, account maintenance fees, deposit, withdrawal and transfer telephone alert fees, and ATM fees being slammed on Nigerians, said the CBN needs to step in and provide proper explanation on some of the charges to prevent a reversal of fortune for the banking industry
Modupe was of the opinion that if the excessive charges were not addressed, it might in the long run hamper the gains recorded in various reforms embarked upon by banks
Speaking on the issue of price fixing cartel in the banking industry, which she called the Bankers, Committee, Sola Salako, president, Consumer Advocacy Forum of Nigeria, stated that the absence of competition law had allowed so many issues affecting the consumer to fester..
“It is because Nigeria does not have a competition law. We are on the verge of pushing for one after passing four assemblies. If we have a competition law, it would not allow the banking committee to exist. There are many banks who can give services to you at cheaper rates but they are not allowed to pass that cheaper rate to their consumers because CBN already put a benchmark on what they should charge for that thing”.
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.
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.
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.
Woherem Proposes Pragmatic Roadmap to End Terrorism and Banditry in Nigeria
AfDB Group Mobilises Global Private Capital to Close Africa’s Financing Gap
FIRS says NIN, CAC Numbers to Serve as Tax IDs from 2026
Oyedele Dismisses Claims Bank Accounts Without TIN Will Be Frozen
Fidelity Bank Bolsters Ikoyi Fire Station with Hoses, Pumps for Safer Communities
Nigeria Records Highest Weekly Cyberattacks in Africa — Report
Cyber Tsunami Hits Nigeria as Breaches Surge 1,047%, esentry Q3 Report Reveals
Minister Claims Bandits Exploit Poor Network, Bounce Calls Off Multiple Towers
GenAI Adoption Among African workers Outpace Global Peers
Jumia’s Data Shows Nigerians Turning to Digital Retail to Navigate Inflation Pressures
News2 days agoUS Okays $2.1Bn for Christian Healthcare in Nigeria
General News3 days agoThe Mood Market to Light Up Lagos with a Rooftop Gifting, Food & Lifestyle Fair this Christmas
News2 days agoSERAP Asks Tinubu to Release CTC of Tax Bill
Broadcasting2 days agoTim Akano Recounts 20-Year Growth, Media Support at NITRA End-of-Year Meet
E-Financial2 days agoSterling Bank, Water.org, Sterling One Foundation Partner on WASH Loan for Millions
General News2 days agoLeo Stan Ekeh: A “Rare Avis”, an Unconquerable Entrepreneur
General News2 days agoFCCPC Forces Ikeja Electric Into Compliance, Unseals Headquarters After Rights Breach
- News1 day ago
US Begins Partial Visa Ban on Nigerians January 1