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BREAKING : FCCPC Imposes $220m Fine On Meta, Whatsapp And Facebook’s Parent Company

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BREAKING: FCCPC Imposes $220m Fine On Meta, Whatsapp And Facebook’s Parent Company—-The Federal Competition and Consumer Protection Commission (FCCPC) has imposed a fine of $220 million on Meta, parent company of WhatsApp, Facebook, and Instagram, for multiple data privacy violations.

According to a statement on Friday signed by Adamu Abdullahi, FCCPC’s acting chief executive officer, the penalty is in accordance with the FCCPA 2018, and the Federal Competition and Consumer Protection (administrative penalties) Regulations 2020 (APR).

The statement, obtained by Thecloudngr in Abuja, details the investigation that began in May 2021, adding that the FCCPC issued an Order and Notice to Show Cause (ONSC) to WhatsApp LLC and Meta Platforms, Inc. after finding probable cause of violations.

According to the statement, the Meta Parties were asked to justify why the Commission should not finalize and enforce its orders based on findings from the FCCPA and NDPR, which was the guiding regulation before the Nigeria Data Protection Act (NDPA) 2023 came into effect.

Over a 38-month period, the FCCPC, in collaboration with the Nigeria Data Protection Commission (NDPC), conducted a thorough investigation into Meta’s data practices.

Despite Meta’s partial compliance with information requests and ongoing discussions with investigators, the investigation concluded that Meta engaged in numerous and continuous violations.

These included unauthorized appropriation of personal data, discriminatory practices against Nigerian consumers, and abuse of market dominance through exploitative privacy policies.

The Final Order issued by the Commission mandates Meta to take specific actions to comply with national laws, cease exploitative practices, and stop future violations.

It also imposes a $220 million fine, emphasizing the FCCPC’s commitment to protecting Nigerian consumers’ privacy and ensuring fair market practices.

“The Final order also imposes a monetary penalty of Two Hundred and Twenty Million U.S. Dollars only ($220,000,000.00) (at prevailing exchange rate where applicable) which penalty is in accordance with the FCCPA 2018, and the Federal Competition and Consumer Protection (Administrative Penalties) Regulations 2020 (APR).

“The Commission remains committed to its respective mandates to protect the privacy of Nigerians under the Constitution and all data protection laws and regulations, as well as to ensure that consumer rights are respected, and the markets operate in a fair and transparent manner.

“The Commission appreciates the collaboration by the NDPC, this collaboration and joint investigation demonstrates the mutual desire to ensure compliance with the law, and that malfeasance lead to appropriate accountability,” it said.

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BREAKING: Vinícius Rescues Brazil as Morocco Hold Selecao to Thrilling World Cup Opener

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BREAKING: Vinícius Rescues Brazil as Morocco Hold Selecao to Thrilling World Cup Opener—-Morocco stunned the five-time champions with an early breakthrough before Vinícius Júnior’s moment of brilliance earned Brazil a hard-fought 1-1 draw in Group C.

Brazil were forced to settle for a point in their opening match of the 2026 FIFA World Cup after a spirited Morocco side held the South American giants to a 1-1 draw in a captivating Group C encounter at MetLife Stadium.

The Atlas Lions struck first in the 21st minute when Ismael Saibari latched onto a perfectly weighted pass from Brahim Díaz before calmly lifting the ball over goalkeeper Alisson Becker to give Morocco a deserved lead. The African side’s intensity and organization troubled Brazil throughout the opening stages.

Brazil responded through their star man Vinícius Júnior, who produced a moment of individual brilliance in the 32nd minute. The Real Madrid winger drove into the box and unleashed a powerful finish beyond Yassine Bounou to restore parity and ignite the Brazilian supporters.

Despite enjoying more possession after the break, Brazil struggled to break down a disciplined Moroccan defence. Morocco, meanwhile, continued to threaten on the counterattack and arguably created the clearer opportunities in the closing stages.

The result leaves Group C finely poised, with both teams earning a valuable point in what was billed as one of the most anticipated fixtures of the opening round. While Brazil avoided an early setback thanks to Vinícius’ heroics, Morocco once again demonstrated why they remain one of the most dangerous sides on the international stage.

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Alpha Morgan Bank Delivers Historic N1.9 billion PBT in First 10 Months of Operations

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Alpha Morgan Bank Delivers Historic N1.9 billion PBT in First 10 Months of Operations

 

Alpha Morgan Bank has announced a landmark financial performance, recording Profit Before Tax of N1.9 billion in just 10 months of operations, a result that stands as a major milestone in Nigeria’s banking industry and reinforces the Bank’s emergence as one of the country’s most remarkable new-generation financial institutions.

With this performance, Alpha Morgan Bank did not only break-even within an exceptionally short period, but also delivered what is believed to be a record-setting early-profit performance in the Nigerian banking sector, underlining the strength of its strategy, the discipline of its execution and the confidence the market has placed in its business model.

The Bank’s strong debut performance was supported by robust growth across key financial and operating indicators. Highlights of the 10-month financial statement include customer deposit of over ₦103BN, gross earning of ₦13.1 billion, net interest margin of 67%, non-performing loan ratio of 0%.

The performance was driven largely by strong synergy in customer acquisition and branch expansion, a deliberate focus on growth in demand deposits, creation of quality risk assets and balance sheet efficiency. These achievements were further supported by robust operational processes powered by sound technology and systems, management depth and expertise, experience and strategic oversight provided by the Bank’s Board.

Speaking on the performance, the Managing Director, Ade Buraimo, described the result as a significant validation of the Bank’s vision, business model and execution capacity.

“This is more than a financial milestone; it is a strong statement of what is possible when vision, discipline, sound execution, and market opportunity come together. From inception, Alpha Morgan Bank was built to be a commercial bank that is solution-driven and committed to delivering value at scale. To record a PBT of N1.9 billion in our first 10 months of operations is both historic and deeply encouraging. It reflects the dedication of our people, the trust of our customers and the solid foundation we have laid for long-term growth.”

 

 

 

About Alpha Morgan Bank

Alpha Morgan Bank is a customer-centric, innovative, and solutions-driven commercial bank, with a clear commitment to delivering “Satisfying Banking.”

Alpha Morgan Bank commenced operations in March 2025 with the rare distinction of regulatory approval for 14 branches across the country. This early footprint, combined with disciplined market execution, has enabled the Bank to build momentum across key business segments in record time.

Alpha Morgan Bank focuses on:

  • Human-Centred Technology: Digital tools designed for intuitive, everyday relevance and not vanity metrics.
  • Transparent Operations: From pricing to service promises, every process is clear, accountable, and customer friendly.
  • Customer-Centric Innovation: Continuously developing solutions and services driven by customer insights to deliver meaningful value and enhance satisfaction.

More than a financial institution, Alpha Morgan Bank positions itself as a partner in progress. Its vision is to drive possibilities, enable dreams, and reemphasize what it means to experience Satisfying Banking in Nigeria.

More about Alpha Morgan Bank on www.alphamorganbank.com

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