Tag: FINE

Nigerian data privacy: Meta avoids court fight, settles $32.8m fine

Aminu Imam
FG Meta

The Federal Government and Meta Platforms Inc., the parent company of Facebook and Instagram, have agreed to settle out of court over a $32.8 million fine imposed on the tech giant for alleged breaches of Nigerians’ data privacy. The development was disclosed on Friday by lawyers representing both parties before Judge James Omotosho, of the Federal High Court, Abuja. Recall that in February, the Nigeria Data Protection Commission (NDPC) fined Meta for allegedly violating Nigeria Data Protection Act. The Commission said the sanction followed a petition accusing the company of,…

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CBN to fine Commercial banks not paying out new Naira notes 1 million naira per money box daily

Abdul-Azeez Ahmed Kadir
Nigerian New Naira Notes

Central Bank of Nigeria (CBN), on Friday, said that any commercial bank that failed to pay the new naira notes to customers would be fined N1 million per money box on daily basis. CBN Governor, Godwin Emefiele, made this known at a sensitisation organised for market women operating at Ayegbaju International Market, Osogbo, on the new naira notes, eNaira and other related matters. Emefiele, represented by a CBN Deputy Director, Adeleke Adelokun, said that the apex bank had printed enough naira notes, but observed that commercial banks were not collecting…

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Turkey fines Google $25m for online advertising abuse

Abdul-Azeez Ahmed Kadir

Turkeys competition authority fined Google 196.7 million lira (25.54 million dollars) for abusing its dominant position in the online search market. Google intensively uses tactics on its search engine to block rivals in the online advertising business, an investigation by Turkish competition authority found, a report said. The competition investigation included Googles Turkey branch as well as Google International, Google Ireland Limited and Alphabet Inc. In February, Turkey slapped 98.3 million lira (12.7 million dollars) fine on Google over similar anti-trust charges. 

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