Business

FCCPC insists on Air Peace investigation over violations

Published

2 years ago

December 5, 2024

569 Views

The Federal Competition and Consumer Protection Commission has insisted that it is investigating Air Peace for allegedly exploiting customers.

FCCPC disclosed this in a statement by its spokesperson, Ondaje Ijagwu, on Thursday.

The Commission was clarifying reports making the round that it is not investigating Air Peace.

However, the FCCPC told Nigerians to disregard the claim as it does not emanate from the Commission.

“The Federal Competition and Consumer Protection Commission (FCCPC) categorically refutes a story entitled “FG not investigating Air Peace—FCCPC” making the rounds on some media platforms, particularly online, which has been falsely attributed to the Commission.

The referenced story, which seems syndicated and sponsored, did not emanate from the FCCPC, and we advise the public to disregard it in its entirety.

The FCCPC stands firmly by its official release dated December 1, 2024, which announced enquiries into widespread consumer complaints in the banking, telecommunications, and aviation sectors.

As stated, Air Peace is one of the entities being engaged to address allegations of exploitative ticket pricing, including significant price hikes for advance bookings on specific domestic routes.

These enquiries, being conducted under the Federal Competition and Consumer Protection Act (FCCPA) 2018, are focused on addressing poor service delivery, exploitative practices, and potential consumer rights violations.

The enquiries are structured engagements aimed at ensuring compliance with regulatory standards, improving transparency, and protecting consumer interests.

“The FCCPC reaffirms that the enquiry into Air Peace commenced as scheduled on December 3, 2024, and remains ongoing.

The Commission is reviewing information and responses being provided by Air Peace and other entities under inquiry.

Appropriate determinations will be made, and necessary actions taken to address any identified violations.

“We urge the public to rely solely on verified communications from the FCCPC,” the Commission stated.

Business

Meta set to charge WhatsApp Business messages from October 1

For example, a Nigerian fintech company sending 500,000 chargeable utility messages could incur about $5,050 in fees from Meta alone, excluding charges that may come from third-party providers or software platforms used to manage the messaging service.

Published

4 hours ago

August 28, 2026

OCHEFA

13 Views

Businesses using Meta’s WhatsApp Business Platform will begin paying for certain messages sent to customers from October 1, 2026, under a new pricing structure announced by the company.

The change applies to organisations that use the WhatsApp Business Platform, formerly known as the WhatsApp Business API, to manage customer communication on a large scale.

Regular WhatsApp users and small businesses using the standard WhatsApp Business app are not the main targets of the new charges.

Under the revised system, the amount businesses pay will depend on the type of message being sent.

Utility messages, including payment alerts, order confirmations and other service-related updates, will cost about $0.0101 per message, while marketing messages will attract a higher fee of approximately $0.062 each.

Although the individual charges appear relatively small, companies that send large volumes of messages could see their communication expenses rise significantly.

Business

Dangote Refinery Suspends Petrol Sales To Lagos Depots

Dangote Refinery is prioritising markets where imported products are either unavailable or less dominant, rather than adding more supply to Lagos, which receives substantial volumes of imported petrol.

Published

11 hours ago

August 28, 2026

OCHEFA

16 Views

Dangote Petroleum Refinery has suspended coastal sales of Premium Motor Spirit (PMS) to depot owners and importers in Lagos.

People familiar with the refinery’s operations said that the move is deliberate, aimed at redirecting locally refined petrol to areas where imported supply is scarce.

The suspension is ongoing. A source said: “The suspension of coastal sales to Lagos is still ongoing. It is aimed at redirecting products to locations where imported products are unavailable. Lagos has quite some imported petrol.”

The strategy is intended to ensure locally refined petrol reaches areas where it is most needed.

The decision comes amid concerns at the refinery over the volume of imported petrol entering Nigeria.

According to data available to the refinery, imported PMS accounted for about 43 per cent of total petrol supplied into Nigeria in July

Business

Naira Exchange Rates Friday, August 28

Today, the Naira Black Market exchange rate for 1 Great British Pound (GBP) is 1900 Naira. This means that you can get 1900 Naira for every 1 Pound that you exchange.

How much is 100 pounds in naira today?
At the current black market rate of 1900 per pound, 100 British Pounds = 190,000 Naira.