Telecom
World Consumer Rights Day: QNET Reiterates Commitment to Consumer Rights Protection & Advocacy
QNET, a renowned global entity in the lifestyle and wellness direct-selling sector, has reaffirmed its commitment to protection of consumer rights.
Mr. Biram Fall, QNET’s Regional General Manager (RGM)
Biram Fall, QNET’s Regional Manager for Sub-Saharan Africa, who was represented by Nana Quartey, QNET’s Senior Regional Legal Counsel for Sub Sahara Africa, reiterated this commitment while speaking at a consumer rights conference and exhibition held on Friday, at Eko Hotels and Suites, Victoria Island, Lagos.
The Conference organised by Lagos State Consumer Protection Agency (LASCOPA) in collaboration with QNET was in commemoration of this year’s world Consumer Rights Day and was Themed: “Fair And Responsible AI for Consumers.”
Speaking at the event, Mr.Fall reassured its customers of the company’s commitment in ensuring that their rights are protected as well as building and promoting culture of transparency.
According to him, “At QNET, we are deeply committed to protecting the rights of our customers and promoting a culture of transparency, integrity, and trust.
“Through initiatives such as educational campaigns and awareness programs, we strive to empower consumers with the information they need to navigate the marketplace confidently.
“We also recently launched two campaigns, the social awareness campaign and the Say No Campaign. These campaigns perfectly reflect QNET’s commitment to transparency, integrity, and consumer empowerment.
In order to ensure that their consumers rights are protected, Mr. Fall stated that they recently introduced and implemented a robust grievance redressal mechanism to help address customer concerns promptly and effectively.
“In response to the prevalence of fraud cases misusing our brand name, a comprehensive fraud-proofing strategy has been implemented to ensure our integrity.
“These include proactive steps, such as the Electronic Know Your Customer (eKYC) initiative wherein every promoter of our products must verify their identity in our system with a government issued ID.
“We also publish warnings and notices on our corporate website and blog to enhance security and disseminate crucial information.
“In addition to these, we have launched a dedicated Complaint Mechanism (via email and WhatsApp) that provides avenues for our customers and promoters to engage with us on matters that affect their rights.
“These collective efforts underscore our dedication to creating a secure business environment for our customers and at the same time, collaborate with the authorities in holding fraudsters accountable,” he added.
Speaking earlier, Gov. Babajide Sanwo-Olu, of Lagos State assured stakeholders that his administration would continue to create an enabling environment that promotes fair competition, protects consumer rights, and supports the development of small and medium-sized enterprises.
The governor said mutual understanding between consumers and producers underscored the symbiotic and interdependent relationship that existed between the two entities within any economy.
He, therefore, urged consumers and producers to foster an enduring partnership, rather than relationships that could impede sustainable growth and development in the economic value chain.
According to him, the call is necessary because it reflects a broader acknowledgment of the interconnectedness of economic actors and the need for harmonious interactions to address challenges, innovate, and adapt to changing market dynamics.
“Consumers and producers are not adversaries but rather partners in a complex economic ecosystem.
“While consumers rely on producers to supply goods and services, producers, in turn, depend on consumer demand to drive their businesses forward,” he said.
Mr Afolabi Solebo, General Manager LASCOPA, in his welcome address, said that developers and companies must prioritize ethical considerations in ensuring that AI benefits the society as a whole.
Solebo noted that responsible AI involved transparency and accountability,
According to him, consumers deserve to know how their data is being used and have the right to understand the decisions made by AI systems.
Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) have ordered Deposit Money Banks and Mobile Network Operators to settle the long-standing N250bn USSD debt dispute before January 2, 2025.
The CBN and NCC also directed banks to pay the pre-Application Programming Interfaces (API) debt before July 2, 2025.
They also ordered that post-API debts be settled before December 31, 2024.
The directive was issued in a joint cirular titled, “2nd Joint Circular of the Central Bank of Nigeria and the Nigerian Communications Commission on the Resolution of the USSD Debt Issue Between Deposit Money Banks and Mobile Network Operators.”
The circular dated December 20, 2024, was signed by Oladimeji Taiwo, acting director of the Payments System Management Department, CBN, and Chizua Whyte, head of Legal and Regulatory Services, NCC.
The regulators said, “In view of the foregoing, the CBN and the NCC hereby direct DMBs and MNOs as follows: 1. That 60 per cent of all pre-API invoices must be paid as full and final settlement.
“Payment plans (lump sum or installments) must be agreed upon between a concerned DMB and MNO by January 2, 2025. Installments must be based on equal monthly payments, with full payment due by July 2, 2025.
“DMBs must pay 85 per cent of all outstanding invoices issued after the implementation of APIs (i.e., February 2022) by December 31, 2024.
“Similarly, 85 per cent of future invoices must be liquidated within one month of service.”
According to the regulators, the transition to end-user billing will be activated only for DMBs and MNOs that comply with the payment conditions cobtained in the circular.
CBN and the NCC said they would provide further guidance on public enlightenment initiatives related to the transition.
The regulators also directed MNOs to implement the “10-seconds rule” for USSD invoicing.
This implies that any session lasting less than ten seconds will not be billable.
The regulators added, “Failure to comply with the terms outlined in this directive will attract necessary sanctions, ensuring that both DMBs and MNOs uphold their obligations.”
Nigerian Communications Commission (NCC) has unveiled a draft regulatory framework aimed at addressing fraud, spam, and other challenges in the Application-to-Person messaging sector.
The telecom regulator made this announcement in a statement.
The proposed framework, which was introduced during a virtual Stakeholders’ Forum, is said to be a key step towards enhancing the sector’s integrity and ensuring a fair, transparent environment for all parties involved.
The draft framework, presented by Aminu Maida, executive vice chairman, NCC, who was represented by Chizua Whyte, NCC’s acting head of legal and regulatory services, seeks to regulate the A2P messaging space.
The A2P messaging, used for notifications such as bank alerts, promotional campaigns, and government updates, has become a vital communication tool in Nigeria.
However, the sector faces significant challenges, including consumer protection concerns, fraud, and data privacy issues, as well as an unequal distribution of value within the ecosystem.
“The international A2P messaging space in Nigeria faces gaps that have led to issues such as fraud, spam, and data privacy concerns. These challenges threaten the sustainable growth of this communication tool,” the NCC said.
The proposed framework aims to address these challenges by protecting consumers, promoting fair competition, and holding service providers accountable.
“This forum marks a pivotal step towards addressing these challenges. We are here to engage with all stakeholders—operators, aggregators, businesses, service providers, and consumers—to refine the framework and ensure it meets the needs of the entire ecosystem.”
The NCC stressed the importance of inclusivity and collaboration in creating an effective regulatory environment.
Airtel Africa, a provider of telecommunications and mobile money services, has announced the commencement of a second share buyback programme that will return up to $100m to shareholders.
The share buyback reflects the Board’s confidence in the Company’s continued growth potential, the strength of its balance sheet, and the consistent cash accretion at the holding company level.
Furthermore, the buyback remains in line with the Company’s existing capital allocation policy.
According to the company, the programme will be executed in accordance with applicable securities laws and regulations.
The share buy-back programme is expected to be phased over two tranches, with the first tranche commencing today and anticipated to end on or before 24 April 2025.
The first tranche will amount to a maximum of $50m.
The Company has entered into an agreement with Barclays Capital Securities Limited (Barclays) to conduct the first tranche of the buy-back and carry out on-market purchases of its ordinary shares with the Company subsequently purchasing its ordinary shares from Barclays.
Under this agreement, Barclays will act as riskless principal and will make decisions independently of the Company.
The sole purpose of the buy-back programme is to reduce the capital of the Company.
It noted that as such, all shares purchased under the buy-back programme will be cancelled.
In a statement signed by Simon O’Hara, group company secretary, the company noted that the share repurchase process will adhere to pre-set parameters agreed upon with Barclays Capital Securities Limited (Barclays), the executing partner for the first tranche of the buyback programme.
This partnership ensures that purchases are conducted transparently and in compliance with all regulatory requirements.
The buyback will be executed under the authority granted by shareholders during the Annual General Meeting held on July 3, 2024, which permits the repurchase of up to 374,141,187 ordinary shares.
Following the completion of a prior buyback programme, the remaining authority allows for the acquisition of up to 328,842,995 shares.
Additionally, Airtel Africa confirmed its commitment to adhering to the Financial Conduct Authority’s UK Listing Rules 9.6 and the provisions of the Market Abuse Regulation (EU) No. 596/2014, as incorporated into UK domestic law.
The company also clarified that share purchases may occur during closed periods, consistent with these regulations and the agreed parameters.
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