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E-Business

Court Adjourns Hearing of BVN Suit to March 1

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The Federal Government on Tuesday requested for an adjournment over suit challenging its forfeiture order it secured from a Federal High Court in Abuja, to take over of monies not linked to Bank Verification Number (BVN).

The case was instituted by Access Bank and 19 other banks on behalf of the depositors affected by the interim forfeiture order by the Federal High Court, Abuja.

The lead counsel to the Federal Government,  Ade Okeaya-Inneh (SAN), leading two other Senior Advocate of Nigeria told the court that he and his team just took over the case file and needed time to study it.

Counsel to Access Bank and others, led by Paul Usoro (SAN) did not raise any objection to the respondents request for adjournment and the trial Judge, Justice Nnamdi Dimgba adjourned the matter till March 1, 2018, for hearing.

It would be recalled that Justice Dimgba on October 17, 2017, granted all the nine reliefs sought by Abubakar Malami (SAN) , Attorney General of the Federation (AGF) and Minister of Justice, including an interim forfeiture of all monies not linked to BVN, to the Federal Government.

Justice Dimgba who gave the order following a motion exparte brought before him by the Federal Government also ordered banks to disclose any investment made with funds from accounts without BVN in any product,  interest incurred and other relevant information related to the transaction made on the accounts.

The court ordered all the 19 Deposit Money Banks (DMBs) operating in the country to release to federal government names of accounts not yet connected to BVN; account numbers; their outstanding balances; domiciling locations; and domiciliary accounts without BVN and where they are domiciled.

Nigeria deposit money banks that were listed as respondents in the ex-parte suit are Access Bank, Citi Bank, Diamond Bank, Ecobank, Fidelity Bank, First Bank and First City Monument Bank.

Others are: Guarantee Trust Bank, Heritage Bank, Keystone Bank, Skye Bank, Stanbic IBTC Bank, Standard Chartered Bank, Sterling Bank, Union Bank, United Bank for Africa, Unity Bank, Wema Bank and Zenith Bank.

The banks were also directed to publish all bank accounts not linked to BVN in national newspapers with a 14-day notice for individuals with interest in such accounts to come forward and justify why their funds should not be forfeited to the Nigerian government.

Justice Dimgba also ordered the CBN, which was joined as 20th respondent alongside the 19 DMBs, to appoint an official who will examine all the details submitted to the apex bank for compliance.

The government argued the matter under Section 3 of the Money Laundering Act, 2011, which provides that, banks must, “Ensure that documents, data or information collected under the customer due diligence process is kept up-to-date and relevant by undertaking reviews of existing records, particularly for higher risk categories of customers or business relationships.”

The BVN is a unique identification number that can be verified and used to transact business across all the banking platforms in Nigeria.

The Central Bank of Nigeria (CBN) imposed the policy to capture customers’ data for financial transactions and check fraud in the banking system.

Registration for BVNs commenced on February 14, 2014, across the country and the apex bank has disclosed that over 20.8 million customers enrolled 40 million bank accounts before the October 31, 2015, final deadline for customers residing within the country.

The CBN extended the deadline for Nigerians in the diaspora to December 2016 to sign up for the BVN system.

But hundreds of thousands, home and abroad are still believed to be left behind.


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E-Business

NCC Vows to Tackle Online Infringement, Block Illegal Music Websites

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Nigerian Copyright Commission (NCC) has pledged to enforce its legal obligations to combat online intellectual property infringement and urged commercial music users to obtain proper licences from rights holders or their representatives.

NCC Vows to Tackle Online Infringement, Block Illegal Music Websites

The Commission stated that this ensures creators are fairly compensated, supporting the music industry’s sustainable growth.

In a statement commemorating the 2025 World Intellectual Property Day, themed “IP and Music: Feel the Best of IP,” the NCC announced plans to enforce the Copyright Act 2022, which allows for the takedown of infringing materials and blocking of websites hosting illegal content.

Signed by Mrs Ijeoma Egbunike, director of Public Affairs, the statement outlined an aggressive anti-piracy campaign in collaboration with the private sector, targeting the online environment.

Egbunike affirmed the NCC’s commitment to establishing enforceable standards for transparency, digital audits, and real-time royalty reporting to protect creators’ rights. She stated, “The NCC will continue to champion policies that support the growth of the music industry, improve the livelihoods of Nigerian musicians, and foster a culture of creativity and respect for intellectual property.”

Despite the global success of Afrobeats and other Nigerian genres, the NCC noted that many musicians face low royalty returns due to rampant digital piracy.

To address this, the Commission revised its Collective Management Regulations to enhance transparency and accountability among Collective Management Organisations (CMOs).

The NCC emphasised that proper licensing is a legal obligation and vital for Nigeria’s creative economy, stating, “Music must feel the beat of intellectual property for the full potential of creativity to be realised.”

The Commission highlighted that creators’ livelihoods depend on fair royalty compensation.

Recent enforcement measures include the NCC’s designation by the Attorney-General of the Federation as an authority under the Proceeds of Crime (Recovery and Management) Act 2022.

This, combined with the Copyright Act 2022, empowers the NCC to order takedowns and block illegal music distribution websites.


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FG Warns Nigerians Against Growing Threat of Cyber Slavery in West Africa

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The Federal Government, has warned Nigerians against the growing threat of cyber slavery within the West African sub-region.

The Ministry of Foreign Affairs, in a statement issued in Abuja by Kimiebi Imomotimi Ebienfa, acting spokesperson, noted with grave concern the alarming rise of cyber slavery across parts of West Africa, targeting Nigerian citizens, particularly vulnerable youths.

The government said many young Nigerians, including underage teenagers, were lured out of the country under the false promise of lucrative employment opportunities abroad, particularly in crypto-related operations.

According to the government, “In reality, these individuals are trafficked into sophisticated scam operations and enslaved to work in criminal “call centres” — often referred to as “419 cyber-scam factories.” There, they are forced under coercive and inhumane conditions to send thousands of fraudulent emails, text messages, and calls aimed at defrauding victims worldwide.”

The government also noted with dismay, a recent incident where the Economic and Organised Crimes Office (EOCO) in Accra, Ghana, rescued and detained a group of Nigerians forced to engage in cybercrime activities under inhumane conditions.

“This incident highlights the severe exploitation and abuse associated with cybercrime operations. It also underscores the need for enhanced efforts to combat such multibillion-dollar criminal networks and mitigate the susceptibility of victims.

“The Ministry strongly warns all Nigerians, especially the youths and parents, to exercise the utmost caution when presented with job offers, particularly those promising easy money, overseas travel, or remote work involving cryptocurrencies.

“Nigerians are therefore advised to verify all employment offers through official channels and report suspicious cases to relevant authorities for necessary investigation and action to curtail the activities of the perpetrators.

“The Ministry wishes to assure the general public that, as a precautionary measure to address this unfortunate situation, the Federal Government is working closely with regional partners, law enforcement agencies, and international organizations to tackle this heinous crime, rescue victims, and bring perpetrators to justice.

“The Ministry remains committed to protecting Nigerian citizens at home and abroad and will continue to raise awareness about emerging threats to the welfare and dignity of our people,” the statement read.


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ALX Nigeria Launches 2025 Ventures Incubator, Premieres Pan-African “Do Hard Things” Finale

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L-r: ALX Ventures Country Entrepreneurship Development Manager, Joshua War Ebinabo; ALX Learning Associate, Ridwan Adepegba; ALX Country General Manager, Ruby Igwe; ALX Country Recruitment and Activation Specialist, Oluwatoni Ajewole; and ALX Learning Community Experience Specialist, Oluwapelumi Thomas at the Exclusive Mixer Party organised by ALX Nigeria in Lagos, recently.
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ALX Nigeria is once again proving that when African talent meets the right opportunity, magic happens. In a celebration of innovation, grit, and ambition, ALX officially launched its 2025 Ventures Incubator Cohort, an elite group of startup founders handpicked from across the country, while simultaneously premiering the grand finale of the pan-African “Do Hard Things Challenge” at its Lagos hub.

From tech founders solving community challenges to creatives turning ideas into global solutions, ALX is backing the bold and building the infrastructure to help them scale. The ALX Ventures Incubator is the next big leap for graduates of the Founder Academy, providing them with hands-on mentorship, investor access, and the resources to grow sustainable businesses that shape the future of the continent.

“The launch of the ALX Ventures Incubator is proof of our unwavering commitment to building the infrastructure for African innovation to thrive,” said Ruby Igwe, Country General Manager at ALX Nigeria. “We witnessed incredible potential at our Founder Academy, and this next step ensures that these promising startups receive the support they need to grow into high-impact ventures. It’s about translating potential into lasting impact.”

These new ventures are powered by the same spirit that drove the Do Hard Things Challenge—a bold initiative that saw ALX travel to eight African cities in search of the continent’s most inspiring entrepreneurs. The final stop? Mauritius, where top finalists pitched in a high-stakes finale, now screened live for the Lagos tech and media community.

The challenge took ALX across Lagos, Nairobi, Johannesburg, Kigali, Accra, Cairo, Casablanca, and Addis Ababa, shining a spotlight on resilience, creativity, and unstoppable drive.

“The ‘Do Hard Things Challenge’ embodies the spirit we cultivate at ALX: resilience, ambition, and the courage to tackle complex problems,” said Joshua Ebinabo, ALX Ventures Country Entrepreneurship Development Manager.

“Showcasing the finale from Mauritius here in Lagos connects our local innovators to the broader African story. It inspires our learners, reassures parents about the future of tech, and shows business leaders the investment-ready talent right here in our ecosystem.”

The event brought together founders, business leaders, creators, and media influencers—all gathered to witness what happens when African talent is seen, celebrated, and supported. The energy was electric, the vision was bold, and the mission was clear: empower Africa’s brightest minds to build global solutions from right here on the continent.

Whether you’re a startup founder looking to scale or a dreamer looking for your big break, ALX continues to be the launchpad for Africa’s digital and entrepreneurial revolution.

Learn more about ALX’s tech and business programmes at alxafrica.ng, and follow the movement on YouTube, TikTok, LinkedIn, and Instagram via @alxnigeria.


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