News
Open Letter to President Ahmed Bola Tinubu on Consumerism and the Economy
By Akonte Ekine, Founder BrandXchange and Convener Consumers Value Awards
Your Excellency,
I hope this letter finds you well. I am writing in line with the right of the consumer to be part of conversations in the country and as such please permit me to quote you on the subject of your interest as expressed in your new year greetings to us on 1st January 2024.
Akonte Ekine, Founder BrandXchange and Convener Consumers Value Awards
“I am well aware that for some time now the conversations and debates have centred on the rising cost of living, high inflation which is now above 28% and the unacceptable high under-employment rate.
From the boardrooms at Broad Street in Lagos to the main-streets of Kano and Nembe Creeks in Bayelsa, I hear the groans of Nigerians who work hard every day to provide for themselves and their families.
I am not oblivious to the expressed and sometimes unexpressed frustrations of my fellow citizens. I know for a fact that some of our compatriots are even asking if this is how our administration wants to renew their hope’’.
Your excellency, I commend you for observing our situations across the country.
In line with your observation, I will like to express my deep concern regarding the recent disengagement of Mr. Babatunde Irukera, Executive Vice Chairman and Chief Executive Officer of Federal Competition and Consumer Protection Commission. Mr. Irukera. He has been instrumental in championing consumer rights in Nigeria since his appointment in 2019.
Having attended the 2023 Edition of the Consumer International Congress in Nairobi, it became evident that consumerism plays a crucial role in shaping economies and societies. We consumers, amidst the challenges of a high cost of living, deserve better recognition and protection of our rights.
Mr. Irukera’s tenure has seen significant strides in safeguarding consumers from unfair trade practices and ensuring fair competition. I pray that his removal will not jeopardize the progress made and I am also consoled by the statement made by your Special Adviser on Media and Publicity, Ajuri Ngelale, that “the decision was in conformity with plans to restructure and reposition critical agencies of the Federal Government towards protecting the rights of Nigerian consumers and providing a strong basis for enhanced contributions to the nation’s economy by key growth-enabling institutions”.
As you consider the new and next head of the Federal Competition and Consumer Protection Commission, I humbly request that your search light should be on someone with the following:
Expertise in Consumer Protection: The selected individual should have a strong background and expertise in consumer protection, competition law, and related fields.
Proven Track Record: A candidate with a proven track record of advocating for consumer rights and implementing effective consumer protection measures. Experience in similar roles or organizations is a valuable asset.
Ethical Leadership: The appointed individual should demonstrate high ethical standards and a commitment to upholding consumer rights. This includes a willingness to take a stand against unfair business practices and protect consumers from exploitation.
Strategic Vision: A visionary leader with a strategic mindset can contribute to the long-term success of consumer protection initiatives. The ability to develop and implement policies that address current and future challenges in the market is crucial.
Collaborative Skills: Consumer protection involves collaboration with various stakeholders, including government agencies, businesses, and non-governmental organizations. The appointed head should possess strong interpersonal and collaboration skills to navigate these relationships effectively.
Communication Skills: Effective communication is key in raising awareness about consumer rights and building trust with the public. The head should be able to communicate complex issues in a clear and understandable manner to the diverse Consumers in the country.
Adaptability: Given the dynamic nature of markets and consumer needs, the appointed individual should be adaptable and open to innovation. This includes the ability to respond to emerging challenges and technological advancements that may impact consumer protection as highlighted in Nairobi.
Transparency and Accountability: Transparency and accountability are crucial in ensuring public trust. The appointed head should be committed to transparent decision-making processes and be accountable for the outcomes of consumer protection initiatives.
It is my sincere hope that based on your observation and interest to restructure and reposition the commission you will make a good decision in your choice and therefore align with global standards and reinforces your commitment to promoting a fair and competitive market.
Thank you for your attention, I trust that you will act in our best interest
Sincerely,
Akonte Ekine
Independent National Electoral Commission (INEC) has raised alarm about a fake and unauthorized website falsely claiming to be an “INEC Ad-hoc Staff Recruitment Portal 2026.”
The Commission raised the alarm in a statement published on its website late Tuesday.
It identified the fake recruitment website as okripeti.org/Inec-ADhoc-Sta…
The Commission affirmed that the website is fake and not affiliated with the it in any way.
“Members of the public are advised that any information, statistics, or application forms on this website are false, misleading, and intended to deceive unsuspecting applicants.”
It also advised anyone who has already registered on the fake portal to discontinue immediately and reapply only through the official INEC links provided above.
“INEC remains committed to transparency, credibility, and the protection of the public from fraudulent activities,” the Commission said.
The Commission also said it conducts Ad-hoc Staff recruitment ONLY through its official platform known as INECPRES.
It listed the only authentic links for the 2026 FCT Area Council Election Ad-hoc Staff recruitment as: •🌐 Web & iOS: pres.inecnigeria.org •📱 Android (Mobile App): presmobile.inecnigeria.org
It added that any other website or link outside the above is not authorized by INEC.
It thereforfore advised prospective applicants to verify all recruitment information using INEC’s official websites, not to click or register on suspicious or unofficial links
not to submit personal details (BVN, passwords, OTPs, or bank details) on non-INEC platforms and to always check that the URL ends with inecnigeria.org
Dr. Zacch Adedeji, Chairman of the Nigeria Revenue Service (NRS), has allayed fears that the new tax reform framework could be weaponised by the Federal Government to target political opponents or individuals based on affiliation.
Dr. Zacch Adedeji
Adedeji, responding to concerns over potential selective enforcement or politically motivated tax scrutiny, insisted the reforms prioritise national interest, transparency, due process, and institutional accountability.
Addressing speculations on suppressing opposition voices ahead of elections, he said: “I think the question you will ask is that we need to commend the courage of Mr. President, that despite the fact that there is an election coming, he is courageous enough to continue on this path of statesmanship and not of politicians.”
The NRS boss explained that it would have been politically expedient to shelve the reforms during an election cycle, but President Bola Tinubu opted to strengthen the country’s fiscal foundation and economic governance.
He outlined that the agenda targets structural tax system weaknesses, enhances fairness, and fosters a simplified, predictable compliance environment to boost voluntary participation over coercion.
Adedeji attributed public scepticism to Nigeria’s history of perceived institutional misuse, but stressed the new framework minimises administrative discretion through rule-based processes, automation, accountability, and governance safeguards insulated from political influence.
According to him, the reforms emphasise taxpayer trust, linking taxes to visible public service improvements while expanding growth opportunities and sustainable public finances.
He reaffirmed the focus on economic stability, credible institutions, phased implementation, investment support, vulnerable group protection, and freedom from partisan interference.
An Ikeja Special Offences and Domestic Violence Court on Monday sentenced Olawale Faleti, a former Lagos State Education director, to two years and five months’ imprisonment for stealing ₦48.9 million from Access Bank Plc.
Justice Rahman Oshodi convicted Faleti, 64, on five counts of stealing after finding him guilty of charges filed by the Economic and Financial Crimes Commission (EFCC).
In his judgment, Oshodi said the offence was deliberate and sustained, noting that Faleti carried out repeated withdrawals despite knowing he had no authorisation to access the funds.
The judge added that the convict failed to show genuine remorse or fully accept responsibility for his actions.
“Financial institutions are the lifeblood of our economy and public confidence in them must be preserved,” Oshodi said, adding that “Those who attempt to defraud or steal from banks must understand that severe consequences will follow.”
While acknowledging Faleti as a first-time offender, the court said a custodial sentence was unavoidable.
The judge applied a 20 per cent reduction from the three-year maximum sentence, citing minimal restitution efforts as a mitigating factor.
Faleti was sentenced to two years and five months’ imprisonment on each of the five counts, with the sentences ordered to run concurrently.
The court directed that the sentence take effect from January 5, 2026, and ordered that Faleti’s biometric details and name be entered into the Lagos State Judiciary offenders’ registry.
After deducting ₦3 million already restituted, the court ordered Faleti to pay an outstanding ₦45.9 million to Access Bank Plc, directing the bank to notify the court upon full recovery of the funds.
Earlier, Mr Ahmed Dambuwa, EFCC counsel, told the court that Faleti dishonestly converted ₦48.9 million belonging to the bank by exploiting unauthorised access to an Access Bank credit card.
He said the card permitted withdrawals of not less than ₦43,000 per transaction, but a system glitch enabled Faleti to withdraw about ₦48 million during the COVID-19 pandemic in 2020.
One of the charges stated that between July 2 and July 10, 2020, Faleti converted ₦12.6 million for personal use, while another alleged that between May 22 and July 1, 2020, he converted ₦6.9 million, all property of Access Bank Plc.
The offences were said to contravene Section 287(1)(a) of the Criminal Law of Lagos State, 2015.
NAHCO Signs New Ground Handling Deals
Firm Identifies Global Scam Activity Linked to the Release of Avatar 3
Showmax Unlocks Easier Payments for Nigerian Subscribers via Baxi
Mandatory Biometric Verification for Starlink Users in Nigeria Begins
Ecobank Offsets Repayment of $300m Eurobond Notes
Banks quietly move to enforce new ₦50 transfer levy from Jan. 1
FIRS says NIN, CAC Numbers to Serve as Tax IDs from 2026
Financial Sector Faced AI, Blockchain and Organised Crime Threats in 2025 – Report
PalmPay Launches N400 Million World Travel Carnival, Rewarding Users with Free Global Trips
Minister Claims Bandits Exploit Poor Network, Bounce Calls Off Multiple Towers
News1 day agoCourt Sends Faleti, Ex-Lagos Director to Jail for Stealing ₦48.9m from Access Bank
E-Financial1 day agoRemita Powers over ₦100 Trillion in Payments as Nigeria’s Digital Economy Expands
News2 days ago974 Nigerians Face Imminent Deportation from Canada Amid Enforcement Surge
General News2 days agoHouse of Reps Releases Certified Copies of Tax Reform Acts amid Gazette Discrepancy Claims
E-Financial1 day agoWhy 2026 Must Be the Year Nigeria’s Economy Works for All
E-Financial1 day agoFlutterwave Acquires Nigeria’s Mono in $25m-$40m All-Stock Deal
General News1 day agoNigeria Targets Satellite-to-Mobile Services in Draft Spectrum Roadmap
E-Financial1 day ago2026: SEC to Review Rules to Incentivise SME Listings