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FCCPC flags rising circulation of substandard goods

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The Federal Competition and Consumer Protection Commission (FCCPC) has expressed concern over the increasing prevalence of unsafe and substandard products in Nigerian markets, warning that this trend is eroding consumer trust and undermining the country’s economic integrity.

The Executive Vice Chairman and Chief Executive Officer of the FCCPC, Tunji Bello, raised the alarm on Wednesday in Abuja during the commemoration of World Consumer Rights Day 2026 and the 9th National Consumers Contest Awards.

Speaking on the theme, “Safe Products, Confident Consumers,” Bello said the rising uncertainty around product safety is already affecting market behaviour and consumer confidence.

“We are gathered at a time when product safety has become central to market integrity, consumer confidence, and public welfare. The theme for this year’s celebration, Safe Products, Confident Consumers, captures a simple but important truth: where safety is uncertain, confidence declines.

“And where confidence declines, markets become weaker, less efficient, and less trustworthy. Across several sectors, the Commission continues to encounter products that do not meet basic safety and quality standards. These include improperly labelled goods, products that fall short of essential safety requirements, and, in some cases, conduct that raises concerns about misrepresentation,” he said.

Bello, who was represented by FCCPC’s Director of Surveillance and Investigation, Bola Adeyinka, disclosed that the Commission continues to find a wide range of products failing to meet basic safety and quality standards across multiple sectors.

He noted that these include improperly labelled goods, unsafe products, and instances of misrepresentation by manufacturers and distributors, attributing the problem to weak internal controls, poor compliance culture, and, in some cases, deliberate disregard for regulatory obligations.

Linking product safety directly to economic stability and investor confidence, Bello explained that unsafe markets discourage participation, distort competition, and reduce overall economic efficiency.

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“Some of these failures arise from weak internal controls. Others reflect gaps in compliance culture. In certain instances, there are indications of deliberate disregard for legal and regulatory obligations.

“The effect is immediate and serious. Consumers are exposed to avoidable risks, trust in the market is weakened, and law-abiding businesses are placed at a disadvantage. Product safety, therefore, cannot be treated as a secondary matter. It is a core obligation, with clear public interest consequences.

“This approach aligns with the Federal Government’s ongoing economic reform programme, which focuses on strengthening market integrity, improving consumer confidence and promoting a rules-based business environment,” Bello stated.

He emphasised that consumer protection is not just a regulatory responsibility but a vital pillar for sustainable economic growth. “When markets are safe, reliable, and transparent, they support sustainable growth and give investors greater confidence to participate,” he added.

Bello warned that the Commission would enforce compliance rigorously, stressing that product safety is a legal obligation under the Federal Competition and Consumer Protection Act 2018.

He added that any product posing risks must be addressed immediately. “Consumers are entitled to goods that are safe, durable, and fit for purpose. Businesses are under a duty to ensure that the products they place on the market consistently meet these standards.”

“Where a product presents a risk, the law requires prompt corrective action, including withdrawal, recall, and proper notice to consumers. These are not optional expectations. They are statutory duties,” he said.

The FCCPC has expanded market surveillance and strengthened product testing in key sectors. “Where conduct raises concerns about consumer safety, such matters are investigated. Where breaches are established, appropriate enforcement action is taken in line with our mandate,” Bello added.

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To tackle systemic issues, the Commission is deepening collaboration with other regulators, including the Standards Organisation of Nigeria and the National Agency for Food and Drug Administration and Control.

He explained that these partnerships focus on information sharing, coordinated enforcement, and joint interventions to close regulatory gaps. “Consumer protection is most effective when institutions work in concert. Effective outcomes depend on alignment in standards, consistency in enforcement, and clarity in institutional responsibilities.

“We are pleased to be joined today by the Competition and Consumer Protection Tribunal, the Standards Organisation of Nigeria, the National Agency for Food and Drug Administration and Control, and the Manufacturers Association of Nigeria. Each plays an important role in ensuring that products meet acceptable standards before and after they enter the market. Effective outcomes depend on alignment in standards, consistency in enforcement, and clarity in institutional responsibilities,” Bello said.

Addressing concerns over rising prices, Bello clarified that the FCCPC does not regulate prices but remains committed to tackling unfair practices. “The commission does not control prices. However, fair pricing is an essential part of a well-functioning market. We will continue to act where conduct undermines fairness, transparency, or safety, or otherwise harms consumers in breach of the law.”

He urged manufacturers, importers, and service providers to integrate product safety at every stage of operations.

“Product safety must be built into every stage of your operations, from sourcing and production to distribution and retail. It cannot be treated as an afterthought or as a matter to be addressed only after harm has occurred. Where defects or safety risks are identified, timely corrective action is required. Delay increases exposure, deepens consumer harm, and erodes trust.

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“Failure to act responsibly will attract regulatory response. Compliance is not a favour to the regulator. It is a basic condition for participating in the market. To Nigerian consumers, remain informed, vigilant, and engaged. Ask questions. Examine products before purchase. Pay attention to labelling, quality, and safety information. Report concerns where they arise,” he said.

He also called on consumers to play a more active role in safeguarding the market. “To Nigerian consumers, remain informed, vigilant, and engaged. Ask questions. Examine products before purchase. Pay attention to labelling, quality and safety information,” Bello said.

“Consumer protection is stronger when consumers are informed and active participants in the market.”

Highlighting the role of education, Bello commended participants in the National Consumers Contest, describing them as future advocates of responsible consumption. “Consumer protection is not only about enforcement. It is also about education, awareness, critical thinking, and responsible engagement,” he said.

Nigeria has long struggled with the influx of substandard and counterfeit goods, particularly in food, pharmaceuticals, electronics, and household items. Regulators have repeatedly pointed to porous borders, weak enforcement, and low compliance as key contributors to the problem.

The FCCPC’s renewed efforts signal a tougher regulatory stance, especially as the government seeks to strengthen market institutions under its broader economic reform agenda.

For both consumers and businesses, the commission’s message is clear: restoring trust in Nigeria’s markets requires stricter compliance, stronger enforcement, and more active participation from all stakeholders.

“Safe and reliable markets depend on responsible business conduct, effective regulation, and informed consumer participation. That standard must be upheld consistently,” Bello concluded.

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Whatsapp to begin charging businesses per message from October 1

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Meta, the parent company of WhatsApp, will begin charging businesses for certain messages sent through the WhatsApp Business Platform from October 1, 2026.

This was disclosed in a WhatsApp Business Platform pricing update in July 2026.

The new charges will be applied to companies using the official WhatsApp Business Platform, formerly known as the WhatsApp Business API, to manage customer conversations at scale.

Banks, fintechs, e-commerce companies, telecoms operators, logistics firms and large retailers that rely on the platform for customer service and transactional communication are among those that could be affected.

However, the development will not affect ordinary WhatsApp users or most small businesses using the standard WhatsApp Business app on their phones.

Under the current system, when a customer sends a message to a business, a 24-hour customer service window opens. During that period, businesses can respond with free-form service messages and certain utility messages without paying Meta.

However, from October 1, Meta will begin charging businesses on a per-message basis for service messages sent during the customer service window.

Meta, in its developer documentation, said, “Effective October 1, 2026, Meta will charge on a per-message basis for all service messages, consistent with how Meta charges for template messages. These messages have not been charged since November 1, 2024.”

The company added, “Effective October 1, 2026, Meta will charge on a per-message basis for utility messages sent in response to users (within an open 24-hour customer service window). These messages have not been charged since July 1, 2025.”

Utility messages include communications such as payment confirmations, order updates and delivery notifications.

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Meta also warned businesses and Solution Providers about the need to add a payment method ahead of the new charges.

It said, “For any Solution Provider or directly-integrated businesses that does not have a payment method on file by September 30, 2026, Meta will stop delivering service messages as of when they become charged on October 1, 2026.”

For Nigerian businesses, a chargeable utility or service message is expected to cost about $0.0101 per message, equivalent to roughly ₦14 based on an exchange rate of about ₦1,340 to the dollar.

Marketing messages are considerably more expensive, at about $0.062 per message, or approximately ₦84 at the same exchange rate.

The charges are Meta’s fees and do not necessarily represent the total amount a business will pay. Companies using Business Solution Providers or third-party platforms to access the WhatsApp Business Platform may incur additional provider charges.

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FG reaffirms partnership with Taraba to unlock economic potential

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The Federal Government has reaffirmed its commitment to working with the Taraba State Government to unlock the state’s vast potential in agriculture, energy, tourism, infrastructure and mineral resources.

The Minister of Information and National Orientation, Mohammed Idris, stated this on Thursday in Jalingo at the Gala night to mark the Taraba State’s 35th anniversary and the official unveiling of the Taraba Regional Development Master Plan.

He described the newly unveiled Taraba Regional Development Master Plan as an important blueprint for sustainable growth.

Idris, who conveyed the greetings of President Bola Tinubu and the Federal Executive Council to the government and people of Taraba State, said the state’s 35th anniversary offered an opportunity not only to celebrate its progress since creation in 1991, but also to define a clear pathway for its future.

He commended Governor Agbu Kefas of Taraba for adopting a long-term development framework, saying the success of the Master Plan would ultimately depend on sustained implementation and its impact on the lives of citizens.

“The success of this Master Plan will not be measured by the ceremony at which it is unveiled, but by the roads built, businesses created, jobs generated, communities connected and lives improved,” the minister said.

Idris described Taraba as one of Nigeria’s most promising economic frontiers, with enormous opportunities in agriculture and agro-processing, livestock, hydropower, tourism, manufacturing and mineral development.

He praised the Kefas Administration for its investments in education, healthcare, infrastructure, security and economic development, particularly its policy of free and compulsory primary and secondary education.

He said the evidence was in the provision of more than N1.8 billion in 2026 to cover NECO, BECE and NABTEB examination registration for public-school students.

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The minister also highlighted the approximately 268 million dollars financing agreements signed between Taraba State and the ECOWAS Bank for Investment and Development for an integrated industrial park, 10,000 hectares of irrigated rice production and processing, and a 50-megawatt solar power plant in Jalingo.

He said the investments represented the kind of initiatives required to convert the state’s natural advantages into production, value addition, employment and sustainable economic growth.

Idris said Tinubu’s administration was complementing the state’s development drive through major federal infrastructure projects.

“These include the Gembu–Mbamnga–Yang (Lip) Road, the Bali–Serti–Gashaka–Gembu Road, interventions on the Jalingo–Mutum Biyu–Tella–Wukari corridor, as well as further work on the Mayo Selbe–Gembu, Mutum Biyu–Garba Chede and Jalingo–Numan roads.

“These are more than roads. They are investments in connectivity, trade, tourism, agriculture, security and the movement of people and goods,” he said.

The minister also reaffirmed the federal government’s commitment to harnessing Taraba’s agricultural, energy and mineral potential, including the strategic Mambilla Hydroelectric Power Project.

On security, Idris said the federal government was advancing reforms toward the establishment of State Police to bring policing closer to communities while ensuring professionalism, accountability and safeguards against abuse.

He said such a framework could be particularly beneficial to Taraba because of its vast terrain and dispersed border communities, where local knowledge, intelligence gathering and rapid response were critical to effective policing.

The minister also cited the establishment of the Nigerian Army’s 10 Division, headquartered in Jalingo, with operational responsibility for Taraba and Adamawa States, as evidence of the federal government’s commitment to strengthening security in the region.

“Security and development must go together. People cannot invest, farmers cannot move their produce, tourists cannot visit and businesses cannot grow where communities feel unsafe,” Idris said.

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He said the federal government’s economic reforms were designed to create a stronger fiscal foundation for development, noting that the removal of petrol subsidy had mobilised N15.8 trillion in additional resources for the Federation between June 2023 and December 2025.

According to him, approximately N5.4 trillion accrued to the federal government while about N10.4 trillion went to states and local governments, providing additional resources for infrastructure, education, healthcare, security and human capital development.

Idris said the federal government remained opposed to a return to the previous subsidy regime, stressing that the priority was to consolidate the gains of reform, protect vulnerable Nigerians and ensure that additional public resources translated into tangible improvements in citizens’ lives.

He emphasised that development must ultimately be people-centred, creating opportunities for young people, expanding women’s economic participation, supporting farmers and small businesses, and connecting communities to markets and public services.

The minister also pledged stronger collaboration between the Federal Ministry of Information and National Orientation and the Taraba State Ministry of Information and Re-Orientation to ensure citizens understand and embrace the objectives of the Master Plan.

“The vision contained in this Master Plan must go beyond government offices. It must reach the farmer, the entrepreneur, the student, the trader and communities across Taraba.

“This is because a plan for Taraba must ultimately be a plan owned by the people of Taraba,” he said.

Idris congratulated Kefas, the government, and the people of Taraba State on the state’s 35th anniversary, describing the occasion as both a celebration of Taraba’s history and a renewed commitment to its future.

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“35 years of history. A new blueprint for the future. And a renewed commitment to building the Taraba we want and the Nigeria we deserve,” the minister said.

In his remarks, Kefas also called for continuity in governance, acknowledging the contributions of former military administrators and elected governors to Taraba State’s development.

He said his administration was committed to building on previous achievements, correcting what needed to be corrected, completing worthy projects and opening new frontiers for future generations.

He stressed that the development of Taraba must remain bigger than any government, political party, ethnic group or individual, urging former leaders to continue contributing their experience and institutional knowledge to the peace, unity and prosperity of the state.

“Government must be a continuum. Development must be cumulative. Taraba is bigger than any government, any administration, any political party, any ethnic group, or any individual,” Kefas said.

He added that the ultimate credit for development belongs to the people of Taraba State.

Present at the event were the former Governor of Taraba State, Rev. Jolly Nyame; Secretary to the Government of Taraba State, Chief G.T. Kataps; Director-General of the Nigerian Television Authority, Salihu Dembos; and  Director-General of the Federal Radio Corporation of Nigeria, Dr Mohammed Bulama.

Others were the Managing Director of the Nigerian Ports Authority, Dr Abubakar Dantsoho; as well as other distinguished government officials, traditional leaders, members of the diplomatic and business communities, and other dignitaries.

NAN

Source: punchng.com

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CBN cuts T-bill rate amid N3.63tn demand

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Investors are increasingly positioning for longer-term returns in Nigeria’s fixed-income market, with the latest treasury bills auction showing an overwhelming preference for the one-year government security.

At the Central Bank of Nigeria’s (CBN) primary market auction on Wednesday, investors submitted N3.63tn for the 364-day T-bill, representing 95.9 per cent of the N3.79tn total bids received across the three maturities.

The demand came despite the CBN lowering the stop rate on the one-year instrument by 44 basis points to 17.15 per cent, from 17.59 per cent at the previous auction.

The auction results point to a significant shift in investor appetite towards longer-dated government securities, even as demand for shorter-tenor instruments remained subdued.

The CBN had offered N700bn across the three maturities, comprising N100bn each for the 91-day and 182-day bills and N500bn for the 364-day bill.

However, total subscriptions reached approximately N3.79tn, more than five times the amount offered.

The PUNCH that the 364-day instrument was the clear outlier at the auction, receiving bids equivalent to 7.26 times the amount offered.

The CBN ultimately allotted N638.19bn, exceeding the N500bn offer by N138.19bn. Despite the additional allotment, only about 17.6 per cent of total bids submitted for the instrument were accepted.

Investors quoted yields between 16.00 per cent and 19.05 per cent, but the CBN settled at 17.15 per cent, suggesting that the level of demand allowed the regulator to reject more expensive bids.

The development is significant because the CBN achieved a lower borrowing rate even after receiving exceptionally strong demand for the security.

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The contrast was stark at the shorter end of the curve. The 91-day bill attracted N103.32bn in subscriptions against N100bn offered. The CBN allotted N89.10bn at an unchanged stop rate of 16.30 per cent.

The 182-day bill performed even more weakly, attracting only N52.93bn against N100bn on offer. The CBN allotted N35.59bn, while the stop rate remained at 16.50 per cent.

Secondary-market yields for the three instruments stood above their respective auction stop rates, at 17.45 per cent for the 91-day bill, 17.05 per cent for the 182-day bill and 17.24 per cent for the 364-day bill.

According to a financial sector analyst, Jimbe Asalor, the concentration of bids in the one-year instrument suggests investors may be placing greater value on locking in relatively attractive yields over a longer period rather than repeatedly rolling over shorter-term securities.

He noted that the latest auction also demonstrates “the CBN’s ability to borrow more cheaply when demand is concentrated around a particular maturity.”

He added that by accepting N638.19bn on the 364-day bill at 17.15 per cent, the CBN borrowed above its initial offer while simultaneously cutting the rate by 44 basis points.

“The nine-basis-point difference between the auction stop rate and the 17.24 per cent secondary-market yield also indicates that the one-year segment is now trading relatively close to market expectations.”

A Lagos-based consultant economist, Chukwunonso Iheoma, said if the preference for longer-dated treasury bills persists, the development could provide further support for a gradual decline in government borrowing costs while strengthening expectations of eventual interest-rate cuts.

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Source: punchng.com

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