Business
SERAP Threatens Zuckerberg, Meta With Lawsuit Over Privacy Rights Breaches, $220m Fine
The Socio-Economic Rights and Accountability Project (SERAP) has urged Mark Zuckerberg, Chairman and Chief Executive Officer, Meta Platforms Incorporated (Facebook) to “immediately pay the $220 million fine imposed on Meta by the Federal Competition and Consumer Protection Commission (FCCPC), and upheld by the Competition and Consumer Protection Tribunal.”
In a statement, the SERAP admonished Zuckerberg and Meta “to provide (in addition to the fine) justice and effective remedies, including adequate compensation and guarantees of non-repetition for the victims of the grave violations of Nigerian consumer, data protection and privacy laws and international human rights standards.”
The SERAP also urged Zuckerberg and Meta to “immediately pay the $35,000 awarded by the Tribunal to the FCCPC as cost of investigation.”
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The SERAP urged Zuckerberg and Meta to “immediately halt the violations found by the Tribunal and prevent their re-occurrence, as well as ensure the accountability of any person(s) responsible for the violations.”
Recall that last Friday the Competition and Consumer Protection Tribunal upheld the $220 million fine against Meta by Nigeria’s FCCPC for the grave violations of consumer, data protection and privacy laws.
The SERAP’s position was detailed in a letter dated 26 April 2025 and signed by its deputy director Kolawole Oluwadare.
It stated, “As Chairman and CEO, you ought to ensure enhanced transparency, human rights due diligence, accountability and remediation by Meta to ensure that Nigerians’ human rights are not threatened or violated.”
The SERAP said, “The Tribunal’s judgment confirms that the operations of Meta (Facebook) in Nigeria have violated Nigerians’ human rights and continued to have a chilling effect on the enjoyment of human rights on Meta platforms.”
The open letter, read in part: “SERAP is concerned that the human rights violations found by the Tribunal may be ongoing, and have a high risk of recurrence if not adequately and effectively redressed.”
“SERAP urges you and Meta not to unnecessarily prolong the harms suffered by the victims by resisting the temptation to pursue any appeal against the Tribunal’s judgment under the provisions of section 55 the FCCP Act.”
“The Tribunal’s judgment also shows clear and strong evidence that the operations of Meta in Nigeria are inconsistent and incompatible with international human rights standards including the UN Guiding Principles on Business and Human Rights.”
“We would be grateful if these measures are taken within 7 days of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall take all appropriate legal actions at the national, regional or international levels to compel you and Meta to comply with our requests in the public interest.”
“Our requests are brought in the public interest, and in keeping with the requirements of the Nigerian Constitution 1999 [as amended], Federal Competition and Consumer Protection Act, the UN Guiding Principles on Business and Human Rights and other applicable international human standards binding on Meta.”
“SERAP is concerned that Meta has not only grossly violated the provisions of the FCCP Act as confirmed by the Tribunal but also international human rights standards including the UN Guiding Principle on Business and Human Rights.”
“SERAP notes that your companies have a responsibility to respect human rights as set forth by the UN Guiding Principle on Business and Human Rights.”
“This responsibility requires that Meta avoid causing or contributing to adverse human rights impacts through its own activities, and adequately and effectively redress such impacts when they occur.”
“Meta should seek to prevent or mitigate adverse human rights impacts that are directly linked to its operations, products or services.”
“Your companies also have the responsibility to contribute to and facilitate the exercise of the rights to privacy and to ensure data security and privacy, and ensure that the use of data is in compliance with international human rights law.”
“Section 152 of the Federal Competition and Consumer Protection (FCCP) Act provides that where – (a) the consumer’s right has been violated, or (b) a wrong has been committed, the consumer shall in addition to the redress which the Commission may impose have a right of civil action for compensation or restitution.’”
“Under section 154 of the FCCP Act, victims of the grave violations by Meta are entitled to adequate compensation for the harm suffered.”
“Section 54 of the FCCP Act provides that ‘An order, ruling, award or judgment of the Tribunal shall be- (a) binding on the parties [including Meta] before the Tribunal; and (b) registered with the Federal High Court for the purpose of enforcement only.’”
“According to our information, the Competition and Consumer Protection Tribunal on Friday, April 25, 2025 upheld the $220 million fine against Meta Platforms for the grave violations of Nigerian consumer, data protection and privacy laws and international human rights standards.”
“The Tribunal’s judgment followed the administrative penalty imposed on Meta on July 19, 2024 by the FCCPC after concluding that the companies engaged in discriminatory and exploitative practices against Nigerians.”
“The Tribunal’s judgment followed a 38-month joint investigation initiated by the FCCPC and the Nigeria Data Protection Commission (NDPC) into the conduct, privacy practices, and consumer data policies of Meta Platforms and WhatsApp.”
Consequently, the SERAP urged Mr. Zuckerberg and Meta to:
- Publicly commit to immediately obeying the Tribunal’s judgment and paying the $220 million fine against Meta for the grave violations of Nigerian consumer, data protection and privacy laws and international human rights standards.
- Publicly commit to immediately identifying the victims and providing them justice and effective remedies, including adequate compensation and guarantees of non-repetition for the grave violations they have suffered.
- Publicly commit to immediately paying the $35,000 awarded by the Tribunal to the FCCPC as cost of investigation.
- Promptly provide information as to what human rights due diligence steps, as set out in the United Nations Guiding Principles on Business and Human Rights, if any, have been undertaken by your companies to identify, mitigate, and remedy the impact of the violations found by the Tribunal on Nigerians’ enjoyment of their human rights, including the right to privacy.
- Promptly provide information as to how Meta is applying the UN Guiding Principles on Business and Human Rights and other applicable international human rights standards to all stages of its operations in Nigeria, following the Tribunal’s judgment.
- Promptly provide information as to the steps your companies have taken, or are considering, in publishing transparency reports regarding the violations found by the Tribunal, and putting international human rights standards at the centre of your business model.
Business
Gas Infrastructure Fund Sets Terms for Indigenous Access to Funding
Midstream and Downstream Gas Infrastructure Fund (MDGIF) has said that indigenous companies seeking to partner with it and access its equity must show secured gas supply and a confirmed buyer, because no gas project is bankable without both.
The Fund was established under the Petroleum Industry Act (PIA), and designed as the “master key” for unlocking gas processing, infrastructure and bankability.
Deputy Director at MDGIF in the Nigerian Midstream Downstream Petroleum Regulatory Authority (NMDPRA), Engr Elvis Duruji made this known at the OTL Africa Downstream Energy Week in Lagos. He spoke at a session on: “Scaling Energy Options: Unlocking Gas and Renewables through Processing and Infrastructure.”
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Expatiating further, Duruji said the two conditions decide whether the fund takes an equity stake in a project, since they determine its returns and viability, insisting that the security of the gas feedstock is very important. He further noted that project operators must locate their sites at a gas processing plant or close to a CNG mother station.
The Fund, he added, has used N671 billion to catalyse N1.6 trillion from private Nigerians.
“The Fund has partnered on 31 projects covering 205 infrastructure assets at different stages of execution. Of these, 127 are at different levels of project management, and 10 have been commissioned.
Duruji cited Topline Limited’s mini-LNG plant in Delta State as a success story. “For three years, a Nigerian company, Topline, was looking for a credit facility from InfraCredit, and no one was able to loan them money because they are Nigerian,” he said. “They came to the fund and we partnered with them.”
He said Topline is now the first indigenous mini-LNG operator in Nigeria, with commissioning due before December.
He also cited a programme to convert 20 university campuses to CNG through daughter stations.
“Three CNG stations are operational and 14 more are to be commissioned before December. Duruji added that the fund is working with fuel-station partners, including Ibile Oil and Gas Corporation, which is delivering 15 CNG stations across Lagos.
“These are our success stories,” he said.
He said, for CNG projects, proximity to the gas processing plant “is very important. You must have security of gas supply. We also ensure that you have a gas supply agreement with producers. What is the volume and price that the producer is willing to give to our would-be equity partner? This always affects their credit returns and internal rate of return. This is what will determine the project viability, and this is key,” he said.
Duruji also noted that offtake is equally critical adding that. “We need to know the offtakers and the regasification facility. The same thing for CNG, you need to get a compressor,” he said.
According to him, the MDGIF intervenes in gas projects where commercial lenders will not, because “most Nigerian companies are in trading and operating marginally at the downstream level because the sector is highly capital intensive,” adding that no Nigerian bank would give single-digit loans for exploration and production.
“Nigerian Banks lends at as much as 30 per cent interest, whereas, foreign firms coming into Nigeria to explore, by contrast, have access to cheap loans in single digits from their home country financial institutions,” he said.
The MDGIF, he further explained, intervenes “by pricing the risk, coming up with mitigation and catalytic equity, which we now use to bring that barrier to a level to allow Nigerians who are interested to come into the midstream to partner through the equity finance that we will provide without interest.”
“We bring in the catalytic equity, which is about 49 percent, because we want to allow you to be the operator. We will stay with the private investor and walk them through all that,” he added.
He said MDGIF brings “minority equity, due diligence and risk governance” and uses these as catalytic capital “to make the projects bankable, to make them balanced capital structure that will attract private confidence.”
He identified processing plants, transport, storage and last-mile distribution as the main gaps. Non-associated gas, he said, is “very expertise and capital intensive,” and pipeline networks are needed to move gas from the reserve to the last mile.
“The more gas infrastructure we roll out, the more we are helping the energy system where renewables cannot,” he said.
Duruji identified three mandates of the MDGIF: to increase domestic gas consumption, to aggregate flared gas and bring it into the domestic market, and to mobilise private investors who lack the funds to play in the midstream.
“The MDGIF has three mandates: increase domestic gas consumption, aggregate flared gas and bring it into the domestic market, that is key,” he said. “The other mandate is to mobilise private investors that do not have the funds to be able to play in the midstream, bring their funds.”
He added: “We also have the mandate to reduce gas flare in Nigeria exploration and production sites.”
Business
UN Engages NCDMB to Deepen Female Access to $40m Oil, Gas Fund
Easing access to the dedicated $40 million Women in Oil and Gas Fund is the focus of ongoing strategic conversation between the United Nations Entity for Gender Equality and the Empowerment of Women (UN Women), and the Nigerian Content Development and Monitoring Board (NCDMB).
Biztellers reports that the two bodies are keen to collaborate to ensure that more women-owned businesses and professionals benefit from industry’s opportunities and consequently play a stronger role across the sector’s value chain.
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Recall that in April 2021, the NCDMB established a $20 million fund dedicated to supporting women-owned and women-led businesses in the oil and gas sector, which the Nigerian Export-Import Bank (NEXIM) complemented by matching the fund with an additional $20 million.
However, despite this significant commitment and favorable loan terms, the uptake of the scheme has remained below expectations to date.
The discussions were advanced last week when the UN Women’s Country Representative to Nigeria and the Economic Community of West African States (ECOWAS), Ms. Beatrice Eyong, led a delegation to the NCDMB’s Abuja liaison office.
The team was received by the Board’s General Manager of Corporate Communications, Dr. Obinna Ezeobi, on behalf of the Executive Secretary, Engr. Felix Omatsola Ogbe.
The meeting explored proposed capacity-building initiatives for NCDMB personnel, aimed at mainstreaming gender perspectives into the Board’s project planning, budgeting, and execution frameworks.
Other key areas of discussion included vendor development schemes to better position women-led oil and gas businesses for industry opportunities, strategies to raise awareness of available financing options, and potential affirmative procurement measures designed to expand the participation of women-owned companies across the oil and gas value chain.
The UN official commended NCDMB for its ongoing gender inclusion efforts, noting that the Board is already implementing several measures consistent with its mandate.
She proposed conducting a study to identify the reasons women face challenges in accessing the financing facility, including potential barriers related to documentation, business registration, tax compliance, and limited awareness.
She further highlighted key initiatives currently being undertaken by the UN Office, such as programmes on women’s economic empowerment, leadership development, and the elimination of gender-based violence, among others.
Ezeobi welcomed the proposals and affirmed the Board’s readiness to partner with UN Women. He highlighted several innovative initiatives already implemented by the Board to create opportunities for women to participate, grow, and lead in Nigeria’s oil and gas industry.
These include the establishment of a dedicated funding scheme with NEXIM Bank that enables women-owned or women-led firms to access financing at a highly competitive 5 per cent interest rate, as well as the creation of a Diversity Sectoral Working Group within the Nigerian Content Consultative Forum (NCCF), designed to mainstream women’s issues into local content policy and decision-making processes.
The Board also supports associations of women who work across the Energy Industry value chain, where they network, build confidence and links to progress their careers or businesses.
Ezeobi noted that NCDMB has also invested significantly in capacity-building programs for women entrepreneurs and business leaders, covering critical areas such as business sustainability, corporate governance, and strategic management.
The Board has further supported women’s participation in technical occupations while encouraging young girls to pursue careers in science, technology, engineering, and mathematics (STEM).
He acknowledged that women remain underrepresented in the oil and gas industry, citing limited access to technical education, finance, and commercial opportunities, as well as entrenched perceptions of the sector as predominantly male.
Ezeobi reiterated NCDMB’s willingness to collaborate with UN Women to address these challenges and recommended strategies to accelerate the Board’s support for UN Women’s programmes, thereby advancing gender inclusion across the industry.
Business
Afreximbank Charts Côte d’Ivoire’s Rise as a Regional Growth Leader in WA
The African Export-Import Bank (Afreximbank) has released its Côte d’Ivoire Country Brief, providing an in-depth examination of the West African nation’s macroeconomic outlook, regional and international trade dynamics, financial sector development and debt sustainability profile.
The brief highlights Côte d’Ivoire as one of Africa’s fastest-growing economies. Home to 33.5 million people and with a nominal GDP forecast at USD116.9 billion in 2027, the country has sustained average real GDP growth of around 6.5% per year between 2021 and 2024, accelerating to an estimated 6.6% in 2025. Growth is forecast to moderate to 5.8% in 2026 before rebounding to 6.2% in 2027, supported by rising crude production, continued infrastructure investment and resilient domestic demand.
The brief also points to a notably improved near-term macroeconomic environment. Inflation fell sharply to just 0.1% in 2025, supported by easing commodity price pressures and government measures to stabilise fuel and food prices, with the CFA franc’s euro peg providing a durable exchange rate anchor. The fiscal deficit narrowed to 3% of GDP in 2025, meeting the West African Economic and Monetary Union (UEMOA) ceiling, backed by stronger revenue collection and ongoing reforms to tax administration and VAT digitalisation.
On trade, this edition charts a significant expansion. Total trade surged from USD26 billion in 2018 to USD57 billion in 2025, anchored by Côte d’Ivoire’s status as the world’s largest cocoa producer, commanding around 40% of global supply, alongside growing exports of cashew nuts, rubber, gold and hydrocarbons.
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The February 2026 Calao South gas condensate discovery and rising output from the Baleine field signaled a broadening export base over the medium term. Strategically positioned on the Gulf of Guinea, with the ports of Abidjan and San Pedro acting as principal gateways into Francophone West Africa, Côte d’Ivoire is deeply embedded in regional trade networks, with African markets accounting for around 22% of its goods trade in 2025.
The brief further notes Côte d’Ivoire’s financial sector strength. The country holds the largest banking sector in UEMOA, accounting for more than a third of regional banking assets. Regulatory reforms, including the adoption of Basel II and Basel III standards, have strengthened supervision and resilience, while the launch of the Central Bank of West African States’ (BCEAO) interoperable instant payment platform in September 2025 is broadening access to digital financial services across the economy.
As this edition notes, Côte d’Ivoire “has moved from a period of rapid debt accumulation and elevated debt service pressure towards a more stable debt profile, supported by fiscal consolidation, active debt management and continued multilateral engagement.” This is a trajectory that positions the country to fully capitalise on the ambitious targets of its 2026-2030 National Development Plan.
Afreximbank’s Group Chief Economist & Managing Director Research commented: “Côte d’Ivoire is consolidating its position as a leading West African growth and trade hub. Its expanding energy sector, world-class agricultural base, regional port infrastructure and increasingly sophisticated financial system offer a strong foundation to attract investment, scale value addition and deepen trade links across Africa.”






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