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
Sanwo-Olu Woos Global Investors, Pitches Lagos as Africa’s Business Gateway
Lagos State Governor, Babajide Sanwo-Olu, has called for stronger international investment partnerships as he pitched Lagos as a strategic gateway for global investment into Africa.
Sanwo-Olu made the call while speaking at the Global Africa Business Initiative’s Unstoppable Africa 2026 in New York, where global business leaders, investors, policymakers and heads of government gathered to discuss ways of strengthening African businesses and expanding the continent’s economies.
The 2026 edition of the event was held on September 20 and 21 at the New York Marriott Marquis, on the sidelines of the opening of the 81st United Nations General Assembly.
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The governor highlighted Lagos’ large population, expanding market, infrastructure needs, entrepreneurial ecosystem and strategic position as key factors that create opportunities for investors seeking to participate in Africa’s economic growth.
Sanwo-Olu stressed that Lagos’ growing global relevance should translate into tangible benefits for residents through investments in infrastructure, transportation, healthcare, enterprise development and other sectors.
He said the state remained open to international capital, strategic partnerships and private-sector participation, with the goal of building partnerships capable of delivering measurable economic value across Lagos.
According to the governor, Lagos is pursuing a development agenda that combines long-term economic growth with efforts to address the everyday needs of its residents while creating an environment where businesses can establish, expand and compete.
A key feature of the governor’s presentation was the promotion of Invest Lagos, the flagship investment promotion initiative of the Lagos State Ministry of Commerce, Cooperatives, Trade and Investment.
The engagement followed the successful Invest Lagos 3.0 summit held in Lagos in June under the theme, “Lagos: The Business Gateway to Africa.”
The summit brought together global investors, policymakers, development institutions and business leaders to explore opportunities in infrastructure, manufacturing, technology, trade, finance and the creative economy.
Sanwo-Olu’s participation at Unstoppable Africa 2026 further provided an international platform for Lagos to showcase its investment opportunities and seek partnerships aimed at attracting global capital to the state.
Business
NGX Market Cap Falls to ₦163.65trn As All-Share Index Drops
The Nigerian equities market closed Friday’s trading session on a negative note, with the All-Share Index declining by 0.38 per cent to close at 252,113.41 points.
According to the Nigerian Exchange Group’s Daily Market Snapshot for Friday, September 25, 2026, equity market capitalisation stood at ₦163.65 trillion, representing a 0.01 per cent decline.
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The fixed-income market capitalisation also fell by 0.01 per cent to ₦58.74 trillion, while the market capitalisation of Exchange-Traded Products (ETPs) declined by 2.15 per cent to ₦57.77 billion.
Meanwhile, the top five gainers were led by a stock that rose 10 per cent to close at ₦17.60, followed by CMFC, which gained 9.76 per cent to ₦3.26. Briscoe rose 9.74 per cent to ₦10.70, ABC Transport gained 9.68 per cent to ₦5.10, while Royal Exchange increased by 9.09 per cent to ₦1.08.
The figures were contained in the NGX Daily Market Snapshot released at the close of trading on Friday.
Business
NCDMB Woos Chinese Manufacturers
More than 100 Chinese original equipment manufacturers are being wooed for investment, technology and manufacturing capacity to aid growth in Nigeria’s oil and gas industry.
The Nigerian Content Development and Monitoring Board (NCDMB) made the disclosure through its Director, Project Certification and Authorisation Division and Senior Technical Adviser to the Executive Secretary, Austin Uzoka.
This was detailed in a statement issued by the Board which stated that Uzoka was representing the Executive Secretary, Felix Ogbe, at the 15th China Shale Oil and Gas Summit in Chengdu, China, where he made the disclosure.
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According to Ogbe, the board was seeking to move the relationship between Nigerian oil and gas operators and Chinese manufacturers beyond the conventional buyer-seller model to investment, manufacturing, technology transfer and integration into global supply chains.
He said the Nigerian Oil and Gas Content Development Act (NOGCDA) guaranteed patronage for oil and gas equipment manufacturing facilities established in Nigeria, adding that such investments could also provide access to opportunities across the Gulf of Guinea.
“We are looking beyond the traditional buyer-seller relationship. What can we build together? We want Chinese companies to see Nigeria not simply as a market for their products, but as a strategic investment destination, a platform for manufacturing and technology development, and a gateway to opportunities across the wider African market,” he said.
He highlighted the Nigerian Oil and Gas Park Scheme (NOGPS) as a platform for Chinese original equipment manufacturers to establish manufacturing, assembly and service operations in Nigeria.
He said the scheme would provide opportunities for technology transfer, technical arrangements and the integration of Nigerian businesses into the supply chains of Chinese companies.
The ES also identified China’s capabilities in manufacturing, engineering, technology and energy infrastructure as areas that could support Nigeria’s industrial development.
“China has developed tremendous capabilities in manufacturing, engineering, technology and energy infrastructure. We want to explore how those capabilities can be connected with the opportunities that exist in Nigeria, for mutual benefits,” he added.
Nigeria’s local content policy had evolved from increasing Nigerian participation in oil and gas projects to a broader industrial development agenda focused on manufacturing, technology ownership and global competitiveness, he pointed out.
“Nigeria’s local content journey has evolved significantly since the local content law was enacted in 2010. What began primarily as an effort to increase Nigerian participation in the oil and gas industry has developed into a broader industrial development agenda focused on building capabilities, deepening manufacturing, promoting technology ownership and positioning Nigerian businesses to compete within regional and global markets,” he observed.
The engagement formed part of Nigeria’s participation in the 15th China Shale Oil and Gas Summit, held from September 20 to 23 at the Chengdu Century City International Conference Centre.
The summit, themed ‘Empowering Efficient and Green Development via Intelligent Technologies, Innovating to Lead the Shale Oil and Gas Revolution’, provided a platform for Nigerian oil and gas stakeholders to showcase investment opportunities in manufacturing, technology and oil and gas services.
According to the NCDMB, several Chinese OEMs expressed interest in exploring business relationships with Nigerian companies and participating in the country’s growing oil and gas manufacturing ecosystem.
In her closing remarks, the General Manager, Midstream, PCAD, Ms Lekoma Phimia, urged stakeholders to build on the connections established at the session to develop commercially viable and sustainable business relationships.
The NCDMB also used the exhibition to provide prospective investors and industry players with information on Nigeria’s oil and gas sector, local content opportunities and avenues for establishing operations in the country.
The board said the Chengdu engagement was part of efforts to expand Nigeria’s international industrial connections and advance the objectives of the Nigerian Oil and Gas Industry Content Development Act (NOGICDA).
It added that its focus was to move the local content agenda from participation to capability, manufacturing, and ultimately technology ownership and regional competitiveness.






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