By Ronaldson Diete-Spiff, Esq
Twitter recently filed a lawsuit against Elon Musk for refusing to pay $44 billion to acquire the dominant social media platform. The suit is before Delaware’s Court of Chancery, wherein the social media platform accuses Musk of acting dishonestly when negotiating with Twitter and causing a protracted, pricey, and high-stakes conflict.
By Doyinsola .T. Omomowo Esq
The Central Bank of Nigeria (CBN) on July 5, 2022, launched draft on Digital Financial Services Awareness Guidelines which seek amongst others to enhance transparency and proper disclosure of Digital Financial Services (DFS) among financial institutions and payment service providers, set Digital Financial Literacy (DFL) standards for Digital Financial Services Providers (DFSP), align product development, promotion, and consumer awareness to DFS amongst DFSP.
By: Nneka Oduada Eze (Esq)
The Chief Judge of Rivers State Judiciary, Justice Simeon Amadi has approved the establishment of an Alternative Dispute Resolution Unit in the state judiciary. He disclosed this while meeting with a delegation from Babes Bolyai University, Romanian and the University of Port Harcourt on Friday, 8th April, 2022. Also, he announced the approval for the registration of Multi-Door Court House across the local government areas of the state.
By: Nneka Oduada Eze (Esq)
The Federal Competition and Consumer Protection Commission (hereinafter referred to as “the FCCPC”) has disclosed that Digital Money Lenders who are willing to continue operations in Nigeria must agree to certain conditions as laid down by the FCCPC.
The Executive Vice Chairman and Chief Executive Officer of the FCCPC, Babatunde Irukera, disclosed that some of the money lenders under investigation, or whose bank accounts have been frozen amongst others have agreed to cease and desist from messaging people on contact lists or third parties borrowers/defaulters.
By Emmanuel Adefeso Esq.
The Central Bank of Nigeria (CBN) has warned Nigerians to avoid dealing with illegal and unlicensed financial operators who lure and defraud members of the public.
The Apex Bank in its statement said the increase in the activities of Illegal Financial Operators (IFOs) is becoming worrisome and portends a grave risk to public confidence and the stability of the Nigerian Financial System. The statement contained as follows: “The Financial Services Regulation Coordination Committee (FSRCC) wishes to draw the attention of the general public to the worrisome increase in the
