Close Menu
fintechbits
  • News
  • AI
  • Acquisitions
  • Trends
  • Insights
  • Rumors
  • Startups
  • finjobsly

Subscribe to Updates

Get the latest news from Fintechbits.

Trending Now

AI Agents, Pay-by-Bank, and the Regulatory Reset Reshaping Fintech in 2026

February 27, 2026

Fintech Is Fixing Construction’s Biggest Cash Flow Problems

February 27, 2026

What Can US and European Fintechs Learn from India’s UPI and Brazil’s Pix?

February 27, 2026

Why Traditional Supply Chains Still Run on Paper, Trust, and Patience

February 27, 2026
Facebook X (Twitter) Instagram
Trending
  • AI Agents, Pay-by-Bank, and the Regulatory Reset Reshaping Fintech in 2026
  • Fintech Is Fixing Construction’s Biggest Cash Flow Problems
  • What Can US and European Fintechs Learn from India’s UPI and Brazil’s Pix?
  • Why Traditional Supply Chains Still Run on Paper, Trust, and Patience
  • How 400 Million Small Businesses Are Going Digital (And Why Half Still Haven’t Started)
  • Why AI Quoting Will Split the Trades Industry in Two
  • Insurtech Is Changing Trade Insurance. Most Tradies Haven’t Noticed Yet.
  • How Fintech Companies Balance AI Automation With Human Expertise in Regulated Finance
Facebook X (Twitter) Instagram Pinterest Vimeo
fintechbits
  • News

    Affirm rises as Wall Street adopts a positive outlook on certain fintech companies following recent fluctuations.

    February 18, 2026

    The emergence of licensing for banking services as a new trend in Fintech and its implications for the financial ecosystem

    February 11, 2026

    FinTech Magazine’s Latest Issue Highlights Klarna and Stripe Discussing the Future of Cryptocurrency

    February 10, 2026

    PB Fintech shares rise over 8% following significant news regarding its fundraising strategy.

    February 5, 2026

    CBN fintech investigation report suggests significant change in regulator’s position

    February 2, 2026
  • AI

    Why AI Quoting Will Split the Trades Industry in Two

    February 26, 2026

    How Fintech Companies Balance AI Automation With Human Expertise in Regulated Finance

    February 25, 2026

    How AI Took Over Global Finance (And Why It’s Just Getting Started)

    February 25, 2026

    Your Next Junior Hire Might Be a $50/Month Subscription

    February 24, 2026

    Growth of AI Implementation in B2B Commerce – Fintech Schweiz Digital Finance News

    February 23, 2026
  • Acquisitions

    What Makes a Fintech an Attractive Acquisition Target Versus One Headed for a Distressed Sale?

    February 20, 2026

    MrBeast’s Company Acquires Fintech App Targeting Gen Z

    February 10, 2026

    Capital One’s $5 billion purchase of fintech Brex may prove to be another brilliant move by billionaire Richard Fairbank.

    January 24, 2026

    Fintech Partnership Enhances UST’s Digital Banking Goals

    January 20, 2026

    CoinGecko is reportedly exploring a sale valued at $500 million.

    January 16, 2026
  • Trends

    AI Agents, Pay-by-Bank, and the Regulatory Reset Reshaping Fintech in 2026

    February 27, 2026

    Fintech Is Fixing Construction’s Biggest Cash Flow Problems

    February 27, 2026

    Why Traditional Supply Chains Still Run on Paper, Trust, and Patience

    February 27, 2026

    How 400 Million Small Businesses Are Going Digital (And Why Half Still Haven’t Started)

    February 26, 2026

    Why AI Quoting Will Split the Trades Industry in Two

    February 26, 2026
  • Insights

    Fintech Is Fixing Construction’s Biggest Cash Flow Problems

    February 27, 2026

    What Can US and European Fintechs Learn from India’s UPI and Brazil’s Pix?

    February 27, 2026

    Why Traditional Supply Chains Still Run on Paper, Trust, and Patience

    February 27, 2026

    How 400 Million Small Businesses Are Going Digital (And Why Half Still Haven’t Started)

    February 26, 2026

    How AI Took Over Global Finance (And Why It’s Just Getting Started)

    February 25, 2026
  • Rumors

    Elliott and Jana Take Recent Actions Alongside Other Speculations

    February 22, 2026

    Hank Payments (TSX) Rises to CAD 0.26 on February 18, 2026: Catalyst Analysis

    February 19, 2026

    Abivax CEO refers to Eli Lilly acquisition speculation as a diversion.

    February 8, 2026

    Big Tech’s AI Investment Competition; PB Fintech Halts QIP Initiative

    February 6, 2026

    SpaceX Considers Initial Public Offering, Spirit Airlines Owner Explores Private Equity, and Other Speculations

    January 25, 2026
  • Startups

    Reasons behind creators shifting away from ad revenue towards candy bars and fintech acquisitions

    February 21, 2026

    Six entrepreneurs set to launch in the Fintech 50 in 2026

    February 21, 2026

    Inflection Point Ventures Invests INR 4 Crore in Seed Round for Fintech Startup Roopya

    February 20, 2026

    Inflection Point Ventures Heads INR 4 Crore Seed Funding for Fintech Startup Roopya

    February 20, 2026

    Jeff Bezos’ AI startup Prometheus establishes an office in Zurich – Fintech Schweiz Digital Finance News

    February 20, 2026
  • finjobsly
fintechbits
Home » Nigeria denounces threats to withdraw WhatsApp and refutes rumors of increased customs tariffs
Market Rumors

Nigeria denounces threats to withdraw WhatsApp and refutes rumors of increased customs tariffs

4 Mins Read
Facebook Twitter Pinterest Telegram LinkedIn Tumblr Email Reddit
786962 3772.jpg
Share
Facebook Twitter LinkedIn Pinterest Email Copy Link

Nigerian policymakers put out fires this week, responding to threats to take down WhatsApp and denying any approval of mobile rate increases in the West African country.

On the first point, the Federal Competition and Consumer Protection Commission (FCCPC) has criticized instant messaging service WhatsApp’s claims that it may leave Nigeria after its parent company, Meta, was convicted last month. last fined $220 million for alleged data breaches.

“WhatsApp’s claim that it may be forced to leave Nigeria due to the FCCPC’s recent order appears to be a strategic move aimed at influencing public opinion and potentially pressuring the FCCPC to reconsider its decision,” the FCCPC said via its verified account on X.

Last month, the FCCPC fined Meta $220 million – the parent company of WhatsApp, Facebook and Instagram – for alleged abuse of Nigerian users’ data.

Last week, a WhatsApp spokesperson told TechCabal it would be impossible to provide WhatsApp in Nigeria or globally without Meta’s infrastructure and claimed that the government order contained numerous inaccuracies and misrepresented the functioning of WhatsApp.

This has led to speculation that WhatsApp could withdraw from the Nigerian market because of the fine, which has consequences on the country’s economy and population.

The FCCPC said that before imposing the penalty, it conducted an investigation from May 2021 to December 2023 during which it investigated Meta Platforms and WhatsApp (jointly called Meta Parties) for allegedly violating the law Federal Competition and Consumer Protection Act (FCCPA) and Nigerian law. Data Protection Regulation (NDPR).

“The Commission found that Meta Parties committed multiple and repeated violations of the FCCPA and the NDPR. These violations included denying Nigerians the right to control their personal data, transferring and sharing Nigerian users’ data without authorization , discriminating against Nigerian users compared to users in other jurisdictions and abusing their dominant market position by imposing unfair privacy policies,” the regulator claimed.

WhatsApp and Facebook logos

The FCCPC said WhatsApp’s claims that it could be forced to leave Nigeria appeared to be a strategic move aimed at influencing public opinion. (Source: Freepik)

Therefore, its final order requires Meta Parties to comply with Nigerian law, stop exploiting Nigerian consumers, modify their practices to meet Nigerian standards and respect consumers’ rights.

“To deter future violations and ensure accountability for alleged violations, the FCCPC also imposed a fine of $220 million,” the regulator explained.

He said his actions were based on legitimate concerns about consumer protection and data privacy and believes the order is a positive step towards a more equitable digital market in Nigeria.

“Similar measures are being taken in other jurisdictions without forcing companies to exit the market. Nigeria’s case will be no different,” the FCCPA concluded.

NCC bluffs on price increases

The Nigerian Communications Commission (NCC) has denied rumors that it has approved higher telecommunications tariffs, advising the Nigerian public to ignore any such reports.

“The NCC has not approved any new telecom tariff plans or increases as reported online. The public is advised to disregard this,” the NCC said in a post on X.

The Commission, however, said it had issued a directive calling on Nigerian operators to simplify their current tariff plans in a transparent and fair manner for consumers.

NCC Executive Vice President Dr Aminu Maida also refuted allegations of increase on his verified X account, terming reports of tariff hikes as “fake news”.

The Commission’s position follows the efforts of telecommunications operators who seek to adjust their prices to restore the country’s profitability.

Ralph Mupita, CEO and Chairman of pan-African telecommunications operator MTN Group, has hinted at possible tariff increases in Nigeria as part of the telecom operator’s end-of-year results in March 2024.

He said the group was working to restore Nigeria’s profitability. This could include working with regulators to introduce tariff increases and restructuring tower contracts to reduce network spending.

The NCC statement comes at a time when young Nigerians are protesting against poor governance, rising cost of living and corruption.

— Matshepo Sehloho, associate editor, Connect Africa

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Elliott and Jana Take Recent Actions Alongside Other Speculations

February 22, 2026

Hank Payments (TSX) Rises to CAD 0.26 on February 18, 2026: Catalyst Analysis

February 19, 2026

Abivax CEO refers to Eli Lilly acquisition speculation as a diversion.

February 8, 2026
Leave A Reply Cancel Reply

Latest news

AI Agents, Pay-by-Bank, and the Regulatory Reset Reshaping Fintech in 2026

February 27, 2026

Fintech Is Fixing Construction’s Biggest Cash Flow Problems

February 27, 2026

What Can US and European Fintechs Learn from India’s UPI and Brazil’s Pix?

February 27, 2026
News
  • AI in Finance (2,156)
  • Breaking News (192)
  • Corporate Acquisitions (81)
  • Industry Trends (252)
  • Jobs Market News (337)
  • Market Insights (263)
  • Market Rumors (306)
  • Regulatory Updates (208)
  • Startup News (1,340)
  • Technology Innovations (211)
  • uncategorized (5)
  • X Feed (1)
About US
About US

FintechBits is a blog delivering the latest news and insights in fintech, finance, and technology. We cover breaking news, market trends, innovations, and expert opinions to keep you informed about the future of finance

Facebook X (Twitter) Instagram Pinterest Reddit TikTok
News
  • AI in Finance (2,156)
  • Breaking News (192)
  • Corporate Acquisitions (81)
  • Industry Trends (252)
  • Jobs Market News (337)
  • Market Insights (263)
  • Market Rumors (306)
  • Regulatory Updates (208)
  • Startup News (1,340)
  • Technology Innovations (211)
  • uncategorized (5)
  • X Feed (1)
Happening Now

November 28, 2024

“ Intentionally collaborative ”: how the Rotman school of U of T leads Innovation Fintech

February 6, 2025

‘1957 Ventures’ to Drive FinTech Innovation in Saudi Arabia

September 10, 2024
  • About FintechBits
  • Advertise With us
  • Contact us
  • Disclaimer
  • Privacy Policy
  • Terms and services
  • BUY OUR EBOOK GUIDE
© 2026 Designed by Fintechbits

Type above and press Enter to search. Press Esc to cancel.