Close Menu
fintechbits
  • News
  • AI
  • Acquisitions
  • Trends
  • Opportunities
  • Insights
  • Rumors
  • Regulatory
  • Startups
  • Innovations

Subscribe to Updates

Get the latest news from Fintechbits.

Trending Now

Fintech has returned and is now being amplified for AI.

May 10, 2025

Essential Press Release Platforms for Game Startups and Fintech, Featuring Easyprwire.co as the Cost-Effective and Efficient Choice for New Businesses

May 10, 2025

British fintech startup Juice secures 29.4 million euros to offer new financing solutions for UK SMEs.

May 10, 2025

British fintech startup Ravio raises 10.6 million euros to update compensation data for the global workforce.

May 10, 2025
Facebook X (Twitter) Instagram
Trending
  • Fintech has returned and is now being amplified for AI.
  • Essential Press Release Platforms for Game Startups and Fintech, Featuring Easyprwire.co as the Cost-Effective and Efficient Choice for New Businesses
  • British fintech startup Juice secures 29.4 million euros to offer new financing solutions for UK SMEs.
  • British fintech startup Ravio raises 10.6 million euros to update compensation data for the global workforce.
  • GE Healthcare receives FDA approval for AI-driven imaging technology.
  • Track the accounting of calculation sheets using AI
  • Fintech company PAYU appoints digital veteran Shailesh Paul as CEO of WIBMO.
  • The biggest advantage of AI in finance lies not in innovative models, but in accessing and utilizing existing data.
Facebook X (Twitter) Instagram Pinterest Vimeo
fintechbits
  • News

    Airtel Money’s Public Launch Scheduled for 2026

    May 8, 2025

    MTN reports a decline in portfolio but notable increases in income

    May 3, 2025

    The Zero Fintech Group Achieves Historic Annual Results for 2024

    April 18, 2025

    Zero Fintech Group Limited (Stock Exchange Code: 0093.HK) Releases Annual Results for 2024 | National Trade News

    April 18, 2025

    We have entered a period of extreme Fintech enthusiasm, according to Mark Goldberg.

    April 17, 2025
  • AI

    GE Healthcare receives FDA approval for AI-driven imaging technology.

    May 10, 2025

    Track the accounting of calculation sheets using AI

    May 10, 2025

    The biggest advantage of AI in finance lies not in innovative models, but in accessing and utilizing existing data.

    May 9, 2025

    The implementation of AI in financial services has enhanced productivity by 30%

    May 9, 2025

    Following the AI bar exam, the California bar confronts a more serious financial crisis.

    May 9, 2025
  • Acquisitions

    The HPS of Morocco plans to acquire a Fintech company by 2027, referred to as CEO – TradingView News.

    May 3, 2025

    The Challenges of Implementing Central Bank Digital Currencies (CBDCs)

    April 14, 2025

    Apex Fintech considering the purchase of Bakkt

    April 13, 2025

    The Future of Digital Wallets: Trends to Watch

    April 12, 2025

    What Is Blockchain and How Is It Used in Finance?

    April 11, 2025
  • Trends

    Latin America’s Fintech Sector Poised to Reach 49.58 Billion USD

    May 1, 2025

    Analysis of Industry Market Size in the 2025 Fintech Market Report

    April 28, 2025

    Analysis of Trends and Key Drivers in India’s Blockchain Fintech Sector

    April 23, 2025

    2025 Market Trends and Premium Services Overview

    April 18, 2025

    The Trade War’s Ripple Effect: Navigating Fintech’s New Reality in Global Market Turbulence

    April 16, 2025
  • Opportunities

    Governor Kelly reveals collaboration with FISERV to establish a fintech strategic hub.

    April 23, 2025

    Governor Kelly reveals Fiserv’s plans to establish a strategic fintech center in Kansas, generating 2,000 jobs.

    April 23, 2025

    FISERV establishes 2,000 positions with the launch of a new Fintech Innovation Center in Kansas.

    April 22, 2025

    Fintech Companies Recruiting in 2025 Following a Turbulent Year

    March 18, 2025

    NI students encouraged to investigate careers in financial technology

    February 25, 2025
  • Insights

    Access Corp’s Fintech Division, Hydrogen, Reports a Tenfold Overvoltage Issue

    April 17, 2025

    The Trade War’s Ripple Effect: Navigating Fintech’s New Reality in Global Market Turbulence

    April 16, 2025

    Zero Fintech Group Limited (Stock Exchange Code: 0093.HK) reveals its annual results for 2024.

    April 16, 2025

    Optimize AI expenses in customer experience without overspending.

    April 16, 2025

    Decentralised Finance(DeFi): Risk and Opportunities for Banks and Financial Institutions

    April 14, 2025
  • Rumors

    Nubank refutes speculation about a fence during the surge in misinformation.

    May 7, 2025

    John Deaton recognizes the potential of banking.

    May 4, 2025

    How a malfunctioning phone game has increased and then decreased market value by 4 billion dollars.

    April 30, 2025

    Speculation has caused volatile stock markets, and this isn’t the first occurrence.

    April 12, 2025

    Microstrategy Faces Significant Challenges as Bitcoin Price Poses a 10% Liquidation Risk

    April 11, 2025
  • Regulatory

    Fintech Groww Targets 800 Million Dollar Initial Public Offering

    April 26, 2025

    Wolters Kluwer Receives the Prix Fintech Breakthrough Award 2025 for its Onesumx Solution

    April 22, 2025

    Partner in Fintech Founders launches a new Self-Regulatory Organization

    April 19, 2025

    Razorpay founders highlight the need for transparent and consistent regulations to support Fintech growth in India.

    April 17, 2025

    India establishes a senior panel to address regulatory challenges in fintech.

    April 4, 2025
  • Startups

    Fintech has returned and is now being amplified for AI.

    May 10, 2025

    Essential Press Release Platforms for Game Startups and Fintech, Featuring Easyprwire.co as the Cost-Effective and Efficient Choice for New Businesses

    May 10, 2025

    British fintech startup Juice secures 29.4 million euros to offer new financing solutions for UK SMEs.

    May 10, 2025

    British fintech startup Ravio raises 10.6 million euros to update compensation data for the global workforce.

    May 10, 2025

    Fintech company PAYU appoints digital veteran Shailesh Paul as CEO of WIBMO.

    May 10, 2025
  • Innovations

    Key Innovations Transforming Careers in Fintech

    May 6, 2025

    Fintech entrepreneur Jose Daniel Duarte Camacho discusses how digital innovations can be harnessed for sustainable growth in a fast-evolving digital economy, where businesses encounter ongoing challenges and opportunities driven by new technologies.

    May 1, 2025

    Black Dragon Capital announces collaboration aimed at developing innovative Fintech solutions for educational institutions.

    April 27, 2025

    Credible unveils the introduction of credible.ai

    April 23, 2025

    Credible introduces credible.ai

    April 22, 2025
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

Nubank refutes speculation about a fence during the surge in misinformation.

May 7, 2025

John Deaton recognizes the potential of banking.

May 4, 2025

How a malfunctioning phone game has increased and then decreased market value by 4 billion dollars.

April 30, 2025
Leave A Reply Cancel Reply

Latest news

Fintech has returned and is now being amplified for AI.

May 10, 2025

Essential Press Release Platforms for Game Startups and Fintech, Featuring Easyprwire.co as the Cost-Effective and Efficient Choice for New Businesses

May 10, 2025

British fintech startup Juice secures 29.4 million euros to offer new financing solutions for UK SMEs.

May 10, 2025
News
  • AI in Finance (1,150)
  • Breaking News (134)
  • Corporate Acquisitions (45)
  • Corporate Acquistions (17)
  • Industry Trends (167)
  • Jobs Market News (284)
  • Market Insights (162)
  • Market Rumors (226)
  • Regulatory Updates (141)
  • Startup News (761)
  • Technology Innovations (143)
  • X Feed (1)
About US
About US

FintechBits is an 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 (1,150)
  • Breaking News (134)
  • Corporate Acquisitions (45)
  • Corporate Acquistions (17)
  • Industry Trends (167)
  • Jobs Market News (284)
  • Market Insights (162)
  • Market Rumors (226)
  • Regulatory Updates (141)
  • Startup News (761)
  • Technology Innovations (143)
  • 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
© 2025 Designed by Fintechbits

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