Federal Competition & Consumer Protection Commission (FCCPC) has barred Peachville Platinum Facility Management (PPF

M) Limited from forcing its services on members of the Peachville Estate Residents Association (PERA), Abuja.

The agency ordered PPFM to “cease and desist from enforcing any clause that compels residents or allottees to subscribe to PPFM’s services as a condition for property ownership or occupancy”.

FCCPC further directed the company to “desist from any acts of coercion or service disconnection arising from residents’ refusal to engage PPFM’s services.”

It ordered PPFM to “immediately provide PERA and all affected residents with a clear statement of all service charges levied from August 2024 to date, with an explanation of the basis and justification for each.”

The company is also directed to “acknowledge PERA as the representative body of the Peachville Estate community for all matters of collective interest, consistent with Nigerian law,” and to “take necessary steps to amend its service engagement model to comply with the provisions of the FCCPA, 2018.”

The company and its executive director and/or affiliates “shall comply with this order within seven business days of receiving this notice,” FCCPC ordered.

“Take Notice that if the Executive Director, Peachvillc Platinum Limited of Plot 844 Jabi — Airport Road, Dakibiyu District, Abuja and/or affiliates fail to comply with this Notice, the Commission shall have recourse to Section 150 (4) of the Federal Competition and Consumer Protection Act, 2018,” the agency added.

A copy of the FCCPC Compliance Notice, addressed to the PPFM Executive Director, was obtained yesterday.

It was signed by  Chizenum Nsitem, head of Legal Services, and dated August 12, 2025.

FCCPC acted on a consumer complaint from PERA against PPFM regarding allegations of “coercive and anticompetitive imposition of PPFM as a mandatory facility manager, unjustified service charges, and failure to deliver satisfactory services, including power, water, security, and internet access”.

The agency stated that the complaint was received on August 8, 2024, following which it engaged both parties in mediation and correspondence between August 2024 and February 2025.

FCCPC said: “PPFM gave assurances to address the deficiencies identified by residents but failed to fully resolve the substantive issues, especially those concerning forced service tie-ins, accountability, and residents’ freedom of choice.

“Between March and May 2025, the Commission received repeated complaints from PERA detailing PPFM’s continued enforcement of a service regime alleged to violate competition law principles and consumer rights.

“Despite further inquiries and an official request issued in April 2025 for clarifications on service charges and PERA’s legal status, PPFM failed to provide any justification for the price increases, denied PERA’s authority and reportedly resorted to coercive tactics, including disconnection threats, against dissenting residents.

“The Commission considers this conduct a direct violation of Section 59 of the FCCPA 2018, which prohibits restrictive and anti-competitive agreements.

“The requirement that residents must accept PPFM’s services as a precondition for property acquisition constitutes a ‘tying arrangement,’ which is specifically disallowed under the Act.

“Furthermore, the Commission found that the continued imposition of nonnegotiable service terms, opaque billing, and lack of performance monitoring amounted to unfair, unreasonable, and unjust contract terms, contrary to Sections 127-129 of the FCCPA 2018.

“PPFM’s attempt to deny PERA’s legal standing was also found to be unsubstantiated.

“The Commission notes that PERA is duly registered with the Corporate Affairs Commission, and in line with the Supreme Court’s decision in Famakinwa v. Oloja Estate Residents Association [20161 LPELR-41066 (SC), a residents’ association may lawfully represent all residents in a community, regardless of individual membership.

“By the provisions of Section 155 of the FCCPA 2018, ‘except where otherwise provided for in this Act, any person who contravenes any consumer right commits an offence and in the case of a natural person, liable on conviction to imprisonment for a term not exceeding five years, or to payment of fine not exceeding N10,000,000.00 or to both the fine and imprisonment; in the case of a body corporate, is liable on conviction to a fine of not less than N100,000,000.00 or 10 per cent of its turnover in the preceding business year, whichever is higher; and in the case of a body corporate, each director of the body corporate is liable on conviction to imprisonment for a term not exceeding five years, or to payment of fine not exceeding N10,000,000.00 or to both the fine and imprisonment.”

Flutterwave has struck a game-changing partnership with iPaylinks, East Asia’s respected payment platform, to break down barriers in Africa–Asia trade.

Olugbenga Agboola, founder and CEO of Flutterwave, has celebrated the collaboration as a major step towards delivering fast, secure, and seamless payments that make cross-border business as simple as buying locally.

He stressed that the fast-expanding Africa-Asia trade corridor presents vast opportunities but also long-standing challenges ranging from complex local bank integrations and currency risks to slow settlements that strain exporters’ cash flow.

Agboola emphasised that iPaylinks, which provides tailored global payment solutions for Asian enterprises, chose Flutterwave to overcome these hurdles and simplify trade.

“With Flutterwave’s Virtual Accounts, iPaylinks’ customers can now collect payments from African buyers in local currency just like a domestic transaction, and get settlement quickly, with no hidden fees.

Payments are more than just transactions, they’re connections. Together with iPaylinks, we’re removing the barriers that have slowed trade between Africa and Asia,” he said.

Flutterwave’s single API integration allows iPaylinks to avoid the complexity of setting up multiple bank accounts across Africa, while ensuring regulatory compliance and security.

Through Virtual Accounts, Asian exporters receive payments in local African currencies, which are then seamlessly converted and settled in their preferred major currencies such as the US dollar.

The partnership promises faster settlement cycles, within one to two days, ensuring exporters maintain healthy cash flow while importers enjoy a frictionless, trusted local payment experience. iPaylinks clients can also count on transparent pricing and competitive FX rates.

For African importers, the process feels familiar as it makes a standard local bank transfer to their Asian suppliers’ assigned virtual account. For exporters, it eliminates treasury risks and accelerates trade confidence.

“This collaboration is a game-changer for B2B trade across continents. We are committed to powering the businesses that power economies, because when trade flows, growth follows,” said Agboola.

The Flutterwave CEO underlined that as one of Africa’s regulated fintech companies with operations across multiple countries, the unicorn continues to position itself as the go-to partner for global enterprises, marketplaces, and payment companies seeking to unlock opportunities in Africa’s $4 trillion trade economy.

United Bank for Africa (UBA) Plc has secured a N5 billion loan facility from the Bank of Industry (BOI) to strengthen Nigeria’s micro, small and medium enterprises (MSMEs), with a special focus on women-owned businesses and key growth sectors.

 Oliver Alawuba, GMD, UBA

The fund, drawn from the Federal Government’s MSME Fund, is designed to boost economic activity by providing affordable financing to entrepreneurs in Green Energy, Education, Healthcare and Women-Led Enterprises.

Oliver Alawuba, group managing director/chief executive officer, UBA, said the bank remains committed to removing the financial hurdles that stifle small businesses. He noted that MSMEs form the backbone of any developing economy and must be supported to thrive.

“At UBA, we recognise the pivotal role MSMEs play in driving economic development. By offering loans at a competitive 9% interest rate with a three-year tenor, we are creating opportunities for businesses to scale. Our message to entrepreneurs is clear: don’t let this opportunity pass you by,” Alawuba stated.

Under the scheme, entrepreneurs can access up to N5 million each, with a three-month moratorium on principal repayment to allow businesses stabilise before repayment begins.

Shamsideen Fashola, group head of Retail and Digital Banking,  UBA,  described the initiative as a strategic intervention to drive financial inclusion and long-term development.

“This programme is targeted at sectors that are central to Nigeria’s sustainable growth. By providing affordable funding to these businesses, we expect to see expansion, job creation and stronger contributions to the economy,” Fashola said.

Also speaking, Alero Ladipo, group head of Marketing and Corporate Communications, UBA,  stressed the importance of the initiative for women entrepreneurs in particular.

“What sets this scheme apart is its accessibility and business-friendly terms. We urge eligible businesses, especially women-owned enterprises, to take advantage of this window by visiting any UBA branch or applying online,” she said.

UBA, one of Africa’s largest financial institutions, operates in 20 African countries and major global financial centres including the UK, USA, France and the UAE.

The bank serves over 45 million customers worldwide and employs more than 25,000 people across its network.