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CPC @ World Consumer Rights Day, Discourages ‘Junk’ Food Consumption

The Consumer Protection Council (CPC), identified Safety, Choice, Information and Basic needs, as critical in addressing Consumer Right related issues.
This is part of message from CPC on 2015 World Consumer Rights Day with emphasis on ‘Healthy Foods’.
The Council said it has become expedient to draw the attention of consumers to the health risks involved in consuming unhealthy foods which are low in fibre, vitamins, high on fats, salt, sugar and tropical oils and are generally of little or no nutritional value.
In most cases, they lack the necessary vitamins obtainable from fruits and vegetables.
Speaking on the 2015 WCRD, Tam Tamunokonbia, head, Lagos office of the Consumer Protection Council (CPC), observed that, unfortunately, these junks or unhealthy foods when taken regularly, cause diet related diseases such as obesity, cancer, diabetes, cardiovascular diseases, all leading to premature deaths.
Tamunokonbia said that the Consumer Protection Council has therefore chosen to sensitize consumers on consumption of healthy foods in Schools, Churches, Mosques and other public places with a view to educating Nigerians on their salt and sugar intake.
He said, “As you all know, a consumer is anyone who buys or uses any product or service. Since there is none that does not buy or use products and services, we all are consumers. It is the consumers’ rights to buy and use healthy foods that we intend to focus on this year”.
The CPC, Lagos Boss added that the tradition of setting aside March 15 every year to celebrate the consumer can be traced to that date in 1962 when John F. Kennedy, then President of America addressed the Parliament on the Consumer Bill of Rights.
This is what he said: “If a consumer is offered inferior products, if prices are exorbitant, if drugs are unsafe or worthless, if the consumer is unable to choose on an informed basis, then his dollar is wasted, his health and safety may be threatened, and national interest suffers.”
“By that Speech”, Tamunokonbia added, “The President identified four Consumer Rights including Safety, Choice, Information and Basic needs.
The United Nations adopted these rights, added four others and issued a guideline on the eight consumer rights.
These 8 Rights are (1) The Right to Satisfaction of Basic needs (2) The Right to Safety (3) The Right to Choice (4) The Right to Information (5) The Right to Consumer Education (6) The Right to Representation (7) The Right to Redress and (8) The Right to Healthy Environment.
The United Nations Guidelines were further adopted by Nigeria, which led to the enactment of the CPC Act, No. 66 of 1992.
That law established the CPC with the mandate to among other things, seek speedy redress for consumers complaints, remove from the market, substandard products, undertake sensitization campaigns and consumer education etc.
The umbrella body of Consumer Federations and Organizations, Consumer International has now adopted 15th March every year as the World Consumer Rights Day.
The idea is to promote the 8 Consumer Rights, protest market abuses and social injustice meted out against the consumer, and placing a demand on business operators that Consumer Rights should be respected.
Tamunokonbia explained that the Council has therefore chosen to sensitize consumers on consumption of healthy foods in Schools, Churches, Mosques and other public places with a view to educating Nigerians on their salt and sugar intake.
“We intend to enlighten Nigerians on the dangers of consuming unhealthy foods.
“The Lagos Office of the CPC was at two Churches, St. Leo’s Catholic Church, Ikeja, and the Foursquare Gospel Church, OPIC Estate, Lagos, to sensitize the members on Sunday 15th March, 2015. Members of both Churches were astonished at the eye opening revelations by the Council. This is expected to continue throughout the year.
“As a follow-up to the “Walk for Health” already undertaken by the Council in Abuja, the Lagos Office and other Zonal Offices participated in the “Walk for Health programme” from Ilupeju to Oshodi to Ikeja through Maryland, Ikorodu and back to the Council’s Office at 18 Ilupeju Bye-Pass”.
Meanwhile sensitization talks have been carried out at the Lagos Progressive Senior and Junior Secondary Schools, Surulere while more Schools such as Community Senior and Junior High Schools, Surulere, Ilupeju Senior Secondary School, Oshodi, Ilupeju Junior Secondary School, Oshodi, Sunnyside Schools, Ilupeu, Penman College, Ilupeju and a few others are scheduled to take place shortly.
The Council also urged the media to join hands with it to spread the message through their various platforms, electronic and print, as a means of further propagating consumer education.
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NIA Questions Legality of Reps’ Financial Probe

The Nigerian Insurers Association has urged the House Committee on Capital Market and Institutions to respect the constitutional separation of powers as it carries out a probe on over 20 insurance firms.
In a statement on Tuesday night, the Director General/Chief Executive Officer of NIA, Mrs Bola Odukale, said the decision of NIA and the affected firms to approach the court was to seek clarity on the constitutional limits of the House Committee’s probe.
It would be recalled that the House of Representatives on Monday is investigating no fewer than 25 insurance companies operating in the country for various financial infractions spanning financial reporting, claims settlement, premium remittance, and issuance of policies.
The Chairman, House Sub-Committee on Capital Market and Institutions, Kwamoti Laori, during a meeting with the management of the insurance companies at the National Assembly Complex in Abuja, said the meeting was convened following the receipt of a petition on infractions by the insurance companies.
In the statement, Odukale said, “The Association wishes to state unequivocally that all actions taken by the NIA and the affected member companies in response to the Committee’s invitations and pronouncements were based entirely on legal advice by its Solicitors. It was on the firm instruction of legal counsel that recourse was made to the courts.
“The objective of approaching the Court is to seek judicial guidance on the legality, propriety, and constitutional limits of the Committee’s intervention in order to safeguard institutional integrity, uphold regulatory independence, and ensure that legislative oversight remains within the bounds of law.
“The Court action seeks to determine whether the current posture of the Committee reflects an exercise of legislative judgment, which, by constitutional design, is the exclusive province of statutory regulators, such as the National Insurance Commission, Securities and Exchange Commission, Nigerian Exchange, Financial Reporting Council, Nigeria Data Protection Commission, and the National Information Technology Development Agency.
“This raises serious questions about legislative overreach and an erosion of the doctrine of separation of powers, a cornerstone of Nigeria’s constitutional democracy.”
Odukale maintained that the NIA was committed to lawful and constructive engagement with all arms of government, provided that such engagement respects the autonomy of statutory regulators and the boundaries established by the Constitution.
“The NIA will continue to provide its full support to all member companies while upholding the principles of legal compliance and sector-wide integrity,” Odukale concluded.
17 of the companies that went to court were represented by their lawyer, Mr Abimbola Kayode, at the meeting with the committee.
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Horn of Africa Leaders Seek Enhanced Digital Integration for Increased Regional Growth

Finance ministers and development partners from the Horn of Africa have called for enhanced digital integration to boost trade, drive economic growth and promote regional stability during the 25th Ministerial Meeting of the Horn of Africa Initiative (HoAI).
Held in Nairobi, on July 14, the meeting was co-chaired by the African Development Bank’s Vice President for Regional Development, Integration and Business Delivery, Nnenna Nwabufo and Somalia’s Minister of Finance, Bihi Iman Egeh. Discussions underscored the critical role of digital integration in reducing trade barriers, boosting government service delivery and creating employment — particularly for the region’s youth.
“Digital technologies are shaping today’s economy and tomorrow’s industries. By embedding these technologies into our programs, we can not only improve inclusion but also leapfrog outdated development models,” said Nwabufo.
She called for digital integration a “central enabler” in each of the Horn of Africa Initiative’s pillars – trade, infrastructure, resilience, and human capital,
Learning through experience
Drawing from global and regional success stories, speakers highlighted the transformative potential of technology-led development. The ministers pointed to the Philippines as a strong example, where ICT has generated millions of jobs in business process outsourcing. Similarly, Kenya’s fintech innovation—especially the success of M-PESA—was cited as a model for scaling digital financial services across the region.
Participants urged governments to proactively foster digital ecosystems by capitalizing on the demographic dividend, identifying infrastructure upgrades, tighter regulatory reforms, and digital skills trainings as priorities to enable broader participation in the digital economy.
Minister Egeh reiterated the need for more coordinated regional efforts to create the enabling environment required for accelerated digital integration and expansion. He referenced the HoAI Digital Policy Matrix, adopted in 2023 which provides a blueprint on how to address key obstacles to achieving effective digital integration across the region.
Barack Makokha, Kenya’s Cabinet Secretary for National Treasury, underscored the importance of regionally-aligned public private partnerships and advocated for blended financing to reduce investment risk and expand digital access in underserved areas.
World Bank Vice President for Eastern and Southern Africa, Ndiame Diop, called for a comprehensive multi-pronged approach, combining cross-border coordination, large-scale financing, robust policy support, and digital infrastructure investments. He pointed out that such measures could transform digital integration into, “a powerful engine of economic transformation” for the Horn of Africa—ensuring no one is left behind in the digital era.
The meeting concluded with a shared recognition that sustained political will and the determination to implement a multifaceted approach are essential to unlocking the region’s economic potential and driving long-term growth.
The event also welcomed observers from the East African Community, Agence française de développement, and Shelter Afrique, reflecting strong regional and international backing for the HoAI in the development community.
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CSCS Inaugurates Custodian Portal to Enhance Digital Access, Operational Efficiency

Central Securities Clearing System Plc (CSCS), Nigeria’s capital market infrastructure provider, has launched its Custodian Portal, a user-centric digital solution designed to optimise custodian operations through intuitive, secure and efficient features.
Haruna Jalo-Waziri, Chief Executive Officer (CEO), CSCS, announced this in a statement on Monday.
The CSCS is a Public Limited Company with a diversified shareholder base, which serves as the Central Securities Depository for the Nigerian Capital Market.
It serves as the Central Depository for Equities, Commercial Papers, Corporate Bonds, Sub-National Bonds, certain Sovereign Bonds like the FGN Sukuk and the FGN Savings Bond, Equity-traded Funds, Real Estate Investment Trusts, Mutual funds and Commodities.
Jalo-Waziri said that the custodian portal offered a streamlined experience for market participants with powerful tools that facilitate comprehensive portfolio and trade management, document tracking, share transfer operations, client symbol search, and real-time access to vital data.
He explained that the portal, designed to operate through a flexible subscription-based model, empowered users to manage their records effortlessly and securely through convenient payment channels such as GTPay and Paystack.
According to him, “Digital transformation remains at the core of our strategy to enhance the efficiency, transparency and accessibility of Nigeria’s capital market services.
“The custodian portal is a significant leap in that direction, offering custodians a centralised platform to manage critical processes in real-time.
“We are excited about the value this innovation brings to our stakeholders, and we will continue to evolve the platform in line with users’ needs and industry trends.”
The CEO also explained that the portal was designed with user experience in mind with feature tools like portfolio viewing and downloads in PDF or Excel format.
He further said that it also featured tracking of stock movements across date ranges, inbox messaging and request tracking, as well as robust user management capabilities including role assignment and status tracking.
Similarly, the Divisional Head, Business Technology and Digital Innovation, CSCS Plc, Tobe Nnadozie, said that the portal aligned with CSCS’s drive to automate the market.
“In addition to the normal features, the platform is a part of an omnichannel platform for custodians, and includes API services.
“It also connects to the market-wide workflow, which CSCS has built to ensure secured communication and approvals across all major stakeholders in the market.
“The platform is well secured with best-of-breed cybersecurity solutions and our SOC,” he said.
The Custodian Portal reinforces CSCS’s commitment to leveraging technology to streamline back-office functions and support a more agile, data-driven capital market ecosystem.
All custodians in the Nigerian capital market have now been successfully on-boarded on the Custodian Portal, marking a significant milestone in CSCS’s ongoing drive to enhance collaboration, standardise operational processes, and promote digital adoption across the market.
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