Business
FCCPC Urges Nigerians to Report Harassing Loan Apps and Businesses

The Federal Competition and Consumer Protection Commission (FCCPC) is advising Nigerians to report any loan apps or businesses that engage in harassing behavior over unpaid loans.
According to the FCCPC, no consumer should live in fear of harassment or intimidation.
Ekwutosblog gathered that Consumers can file complaints with the FCCPC through their website or contact their customer service hotline.
The FCCPC is responsible for protecting consumer rights and promoting fair competition in Nigeria.
FCCPC has taken steps to regulate digital money lenders and enforce consumer protection laws, including fining Meta and WhatsApp $220 million for violating the Federal Competition and Consumer Protection Act (FCCPA) and the Nigeria Data Protection Regulation (NDPR)
To file a complaint, follow these steps
Visit the FCCPC website and fill out the complaint form. Provide detailed information about the harassment, including dates, times, and communication records. Submit supporting documents, such as screenshots or messages. FCCPC Website: https://fccpc.gov.ng/ Customer Service Hotline: 0805 600 2020, 0805 600 3030
Email: mailto:contact@fccpc.gov.ng
Business
NUPENG: ‘Call Dangote to order’ – Falana tells Nigerian Govt

Human rights lawyer, Femi Falana, SAN, has called on the Federal Government to intervene and address the allegation that the owner of Dangote Refinery, Aliko Dangote is planning to force newly hired drivers to sign contracts that restrain them from joining established unions within the oil and gas sector.
Business
Naira records highest single-day appreciation against dollar ahead of public holiday

The Naira recorded its highest single-day gain against the dollar at the official foreign exchange market on Thursday ahead of Friday’s public holiday to mark Eid-ul-Mawlid, the birth of the Holy Prophet Muhammad.
Exchange data from the Central Bank of Nigeria showed that it appreciated significantly to N1,514.87 on Thursday, up from N 1,521.46 traded on Wednesday.
This means that the Naira strengthened by N6.59 against the dollar on a day-to-day basis to end the official trading week.
Ekwutosblog reports that Thursday’s gain is the highest uptrend of the country’s in the last three days this week.
Meanwhile at the black market, the Naira dropped to N1,539 per dollar, down from N1,533 traded the previous day.
Accordingly, analysis of both foreign exchange markets indicated that the most populous country in Africa’s currency recorded mixed sentiments in the week under review.
This comes as Nigeria’s external debt continued to rise to hit N41.49 billion on Wednesday, up from $41.46 recorded the previous day, according to the apex bank.
Business
Ponzi scheme: Umuahia investors beg EFCC to recover trapped funds from arrested businessman

Many subscribers in Abia State, who invested huge money in a “50% Return on Investment”, ROI, in Garvice Logistics Limited, Umuahia, have appealed to the Economic and Financial Crimes Commission, EFCC, to help them in recovering their money.
The investors, while thanking the EFCC for arresting the promoter of the investment company, said their major concern was for the EFCC to recover their trapped money from the arrested Chief Executive Officer of the company, Mr Ahamba Tochukwu.
EFCC had on Wednesday, announced the arrest of Mr Ahamba for allegedly defrauding several investors in his logistics investment schemes to the tune of N2,000,000,000 (Two billion Naira only).
Tochukwu, through Garvice Logistics Limited, allegedly rolled out investment opportunities in haulage, courier and e-commerce services and offered his subscribers a fifty percent jump in their investment, an offer that attracted many investors, particularly the youths and students.
He was alleged to have raked-in over N2 billion from about 400 investors in the last quarter of 2024 but allegedly disappeared with the investors’ funds, until his arrest by the EFCC.
Reacting to the development, some Abia residents, who claimed that their huge capital and the advertised interests were not paid to them, begged the EFCC to go beyond the arrest of the company Chief Executive Officer but to recover their money from him.
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