Business
BREAKING : FCCPC Wins $220million Case Against Meta (Facebook & WhatsApp)
While expressing delight at the landmark judgement, FCCPC Executive Vice Chairman/CEO, Mr. Tunji Bello, thanked the Commission’s legal team for their exceptional diligence and forensic skills in assembling evidence and marshalling their argument.
Friday, April 25, 2025:
The Competition and Consumer Protection Tribunal today delivered its judgment in the appeal filed by Meta Platforms Incorporated (Facebook) and WhatsApp LLC against the Federal Competition and Consumer Protection Commission (FCCPC), affirming the Commission’s authority and actions in nearly all the contested issues.
The Tribunal specifically determined that the Commission complied with prevailing laws, discharged its mandate, and exercised its powers within the confines of the 1999 Constitution (as amended).
It ruled that the multiple actions by WhatsApp and Meta, for which the Commission made findings of violations, were correctly identified, and that the Commission did not err in making those findings.
In addition to upholding the major aspects of the FCCPC’s Final Order, the Tribunal awarded the sum of $220 million against Meta Platforms Incorporated and WhatsApp LLC as an administrative penalty, and further awarded $35,000 to the FCCPC as cost of investigation.
The tribunal’s three-member panel was led by Honorable Thomas Okosun.
WhatsApp and Meta’s legal team was led by Professor Gbolahan Elias (SAN) while the FCCPC’s legal team was led by Mr. Babatunde Irukera.
Both teams had made their final arguments on behalf of their respective clients on January 28, 2025.
The FCCPC had on July on July 19, 2024, issued a Final Order imposing a $220 million administrative penalty after concluding that the companies engaged in discriminatory and exploitative practices against Nigerian consumers.
The investigation started in 2020.
The case arose from a 38-month joint investigation initiated by the FCCPC and the Nigeria Data Protection Commission (NDPC) into the conduct, privacy practices, and consumer data policies of Meta Platforms and WhatsApp.
Dissatisfied with the Order last year, Meta and WhatsApp appealed to the Tribunal, challenging both the legal basis and the findings of the Commission.While ruling on Meta’s appeal, the Tribunal also validated the Commission’s investigative procedures and processes.
The Tribunal resolved Issues 1 to 7 largely in favour of the FCCPC, dismissing the appellants’ objections to the Commission’s findings, orders, and legal competence.
The FCCPC had on July on July 19, 2024, issued a Final Order imposing a $220 million administrative penalty after concluding that the companies engaged in discriminatory and exploitative practices against Nigerian consumers.
One of the central issues (Issue 3) which alleged a breach of fair hearing, was decided in favour of the Commission, with the Tribunal affirming that the FCCPC fully discharged its quasi-judicial responsibilities by affording the appellants ample opportunity to respond.
The Tribunal found no violation of constitutional due process.On Issue 4, which questioned the Commission’s powers in matters of data protection and privacy, the Tribunal held that the FCCPC acted within its statutory mandate, reaffirming its authority under Section 104 of the FCCPA to regulate competition and consumer protection even in regulated industries.On Issue 5, which challenged the Commission’s findings regarding Meta’s privacy policies, the tribunal also resolved in the FCCPC’s favour.
The Tribunal found no error in the Commission’s conclusions and held that the privacy policy in question did, in fact, offend Nigerian law.While Issue 7 was largely resolved in favour of the Commission, the Tribunal set aside Order 7 of the Commission’s Final Order, stating that it lacked sufficient legal basis.
While expressing delight at the landmark judgement, FCCPC Executive Vice Chairman/CEO, Mr. Tunji Bello, thanked the Commission’s legal team for their exceptional diligence and forensic skills in assembling evidence and marshalling their argument.
He restated FCCPC’s unwavering commitment to not only championing the rights of Nigerian consumers but also ensuring fair business practices in the country in accordance with FCCPA (2018) and consistent with the Renewed Hope Agenda of President Bola Ahmed Tinubu.
Business
Diesel Costs Bite: LAMATA Accelerates Shift To CNG, Electric Buses
The move comes as diesel prices have more than doubled, rising from about N950 per litre at the beginning of the year to between N1,950 and N2,100 per litre, depending on the source.
Lagos is accelerating its transition away from diesel-powered public transport as the Lagos Metropolitan Area Transport Authority (LAMATA) begins phasing out diesel buses from its regulated fleet, amid a surge in diesel prices that has pushed operating costs sharply higher.
LAMATA is targeting clean-energy propulsion for 52 per cent of its Bus Rapid Transit (BRT) fleet by 2050, with compressed natural gas (CNG) and electric vehicles (EVs) taking the place of conventional diesel buses under a policy that took effect at the beginning of 2026.
The Managing Director and Chief Executive Officer of LAMATA, Mrs. Abimbola Akinajo, disclosed this weekend, during the handover of 20 additional high-capacity CNG buses under the Presidential Initiative on CNG and EVs.
The latest delivery brings LAMATA’s CNG fleet to about 170 buses, following the deployment of approximately 150 CNG buses before the new vehicles were received.
The authority also operates high-capacity and medium-capacity electric buses.
Akinajo said some of the new CNG buses would be deployed on the busy Ikorodu–Tafawa Balewa Square corridor, where passenger demand remains high.
“We will only work with CNG or EV buses, and this has been the policy since the beginning of the year,” she said.
The move comes as diesel prices have more than doubled, rising from about N950 per litre at the beginning of the year to between N1,950 and N2,100 per litre, depending on the source.
For LAMATA, the shift is therefore not only an environmental policy but also a cost-management strategy aimed at shielding commuters and transport operators from the impact of rising fuel expenses.
Akinajo said regulated public transport fares had not been increased, partly because the lower operating costs of CNG and electric buses were helping to contain the pressure on operators.
“Regulated public transport fares have not increased, and these buses have helped us achieve that,” she said.
Diesel phase-outUnder the new policy, existing diesel-powered buses in the regulated system will be progressively replaced with CNG and electric alternatives.
Akinajo said the long-term direction was for the regulated system to ultimately operate an entirely electric fleet, while the broader clean-energy target provides a pathway towards reducing emissions from Lagos’ transportation sector.
Transportation remains a major source of emissions in the megacity, making the switch to cleaner buses a key component of Lagos State’s long-term ambition of achieving net-zero emissions by 2050.
Business
Naira Rates To Dollar, Pound ,Euro… Friday, October 2
BLACK MARKET RATES
₦1375DOLLAR (USD)
₦1845 POUND (GBP)
EURO (EUR) ₦1550
₦1000 CANADIAN DOLLAR (CAD)
₦70 SOUTH AFRICAN RAND (ZAR)
₦370 UAE DIRHAM
₦190 CHINESE YUAN (CNY)
₦100 GHANA CEDI (GHS)
₦2350 CFA F.(XOF)
₦2250 CFA F.(XAF)
₦850 AUSTRALIAN DOLLAR (AUSSIE)
Official CBN Exchange Rates
DOLLAR (USD)₦1329.16
POUND (GBP)₦1766.59
EURO (EUR) ₦1510.06
SWISS FRANC (CHF) ₦1593.91
JAPANESE YEN (JPN)₦8.47
CFA FRANC (XOF) ₦2.30
WEST AFRICAN UNIT OF ACCOUNT (WAUA) ₦1807.23
CHINESE YUAN (CNY) ₦198.25
SAUDI RIYAL (SAR) ₦353.97
SOUTH AFRICAN RAND (ZAR) ₦81.18
Business
Obasanjo: “Aliko Embarrass Me”
He got all his workers together in that refinery and said, without telling me, and there, said…
Former President of Nigeria, Olusegun Obasanjo, has described Aliko Dangote as his “boss”, crediting the businessman’s industrial achievements to the policies and encouragement provided by his administration.
Obasanjo said this while speaking at the groundbreaking ceremony of the Dangote East Africa Refinery in Lamu, Kenya, where he recalled his recent visit to the Dangote refinery and the businessman’s acknowledgement of the role he played in his transition from cement importation to production.
He said, “About two months ago, three months ago, I visited the refinery which you visited last week. And I just couldn’t stop being surprised what Aliko did. But then Aliko embarrassed me.”
According to Obasanjo, Dangote had gathered his workers during the visit and publicly attributed part of his success in cement production and the eventual development of his refinery to the policies and encouragement of the former president.
He said, “He got all his workers together in that refinery and said, without telling me, and there, said, all of you working here, all of you, the man you have to thank is this man, that’s me. I didn’t have anything to do with his refinery or what it is.
He said, without this man, I would not have been in cement production.“And it is the cement production that provided the encouragement, the inspiration for the refinery. So, thank you. They all shouted and thanked me.”
Obasanjo said Dangote had expanded the opportunities created by his administration beyond Nigeria, particularly through cement production across Africa, and was now replicating the model in the petroleum refining sector.
“May God continue to expand your coast. And you are my boss. You will continue to be my boss.”
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