The European Union has imposed a record €550 million (£467 million) fine on Chinese online retail giant AliExpress for failing to prevent the sale of illegal, counterfeit and unsafe products on its platform. The penalty, announced by the European Commission, is the largest ever issued under the EU’s Digital Services Act (DSA), underscoring the bloc’s tougher stance on online marketplace accountability. AliExpress, owned by Alibaba Group, has rejected the decision, describing the fine as “disproportionate” and confirming it will appeal. The sanction follows a two-year investigation which concluded that AliExpress failed to adequately assess and manage the risks posed by…
Author: Elvis Eromosele
The United States has sharply escalated its trade dispute with Canada after President Donald Trump imposed a 50% tariff on a broad range of Canadian imports, prompting Prime Minister Mark Carney to pledge intensified negotiations to avert further economic fallout. The new tariffs, announced on Monday, will take effect in 30 days and target a wide range of consumer and industrial goods, including wine, hockey sticks and cement. However, key Canadian exports such as energy products, potash, critical minerals and fish have been exempted. The White House said the move was in response to what Trump described as Canada’s “unequal…
Authorities in the United States and several South American countries have shut down or blocked nearly 3,000 websites accused of illegally streaming FIFA World Cup matches in one of the biggest anti-piracy operations linked to a global sporting event. The coordinated enforcement effort, led by the U.S. Department of Justice (DOJ), targeted websites accused of violating intellectual property rights by providing unauthorised access to World Cup broadcasts. The crackdown was carried out under two international investigations, Operation Offsides and Operation Red Card. According to the DOJ, more than 1,000 domains were seized or blocked in the United States, while Colombia…
President Bola Tinubu has approved the appointment of 26 individuals to the boards and management of 10 federal agencies and commissions, naming former Ekiti State Governor Ayodele Fayose as Chairman of the Rural Electrification Agency (REA). The appointments, announced in a statement issued by the President’s Special Adviser on Information and Strategy, Bayo Onanuga, take immediate effect. As chairman of the REA Board, Fayose will work alongside Alhaji Ahmadu Abubakar and Engineer Ilyasu Ibrahim Makinta, who were appointed as non-executive directors. The board also includes the agency’s Director-General, Abba Abubakar Aliyu, and three previously appointed executive directors. The Rural Electrification…
The Federal Competition and Consumer Protection Commission (FCCPC) has resumed enforcement of the Digital, Electronic, Online or Non-Traditional Consumer Lending Regulations, 2025 (DEON Regulations) after a Federal High Court in Lagos dismissed a suit challenging its authority to regulate Nigeria’s digital lending sector. In a statement issued in Abuja, Ondaje Ijagwu, FCCPC Director of Corporate Affairs, said the commission’s regulatory powers were affirmed following a judgment delivered by Justice A. L. Allagoa in a case filed by the Wireless Application Service Providers Association of Nigeria Ltd/Gte (WASPAN). According to the commission, the court dismissed WASPAN’s originating summons in its entirety…
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says 143 companies have advanced to the commercial bidding stage of the 2025 Licensing Round, submitting a total of 200 bids for 50 oil and gas blocks across the country. The commission disclosed this in a statement signed by its Head of Media and Corporate Communications, Eniola Akinkuotu, announcing that the successful firms will participate in the Commercial Bid Conference scheduled for July 21, 2026, in Abuja. According to the NUPRC, only companies that successfully completed the rigorous prequalification process will participate in the next phase of the licensing exercise. The commission said…
Skyway Aviation Handling Company (SAHCO) Plc has strengthened its commitment to passenger safety and accessibility with the acquisition of EVAC+CHAIR emergency evacuation chairs, becoming the first aviation ground handling company in Nigeria to deploy the specialised mobility equipment. The investment is aimed at improving emergency response capabilities while ensuring safer, more dignified and efficient assistance for passengers with reduced mobility. According to SAHCO, the EVAC+CHAIR is a globally recognised stairway evacuation device designed to safely transport passengers with mobility challenges during emergencies or when navigating staircases. The chair uses an advanced gravity and friction control system that allows trained personnel…
The National Pension Commission (PenCom) will, within the next three months, introduce a Minimum Pension Guarantee (MPG) and a health insurance scheme for low-income retirees, marking a significant expansion of Nigeria’s retirement protection framework. Omolola Oloworaran, PenCom’s Director-General announced the initiative in Abuja while presenting the commission’s scorecard under President Bola Tinubu’s Renewed Hope Agenda. She said the reforms are designed to strengthen retirement security by ensuring that pensioners not only receive regular income but also have access to affordable healthcare. According to Oloworaran, the Minimum Pension Guarantee will establish an income floor for retirees under the Contributory Pension Scheme…
Nigeria’s ambition to build a thriving digital economy and achieve a $1 trillion economy is facing a serious threat as vandalism, road construction and accidental fibre optic cable damage continue to cripple telecommunications infrastructure across the country. New data from the Nigerian Communications Commission (NCC) shows that 155,397 fibre-cut incidents were recorded between April and May 2026, the highest level of network disruption since the liberalisation of Nigeria’s telecommunications sector. The figures, contained in the NCC’s Quality of Experience (QoE) report, represent a staggering 2,428 per cent increase compared with the first quarter of 2026, highlighting growing pressure on telecom…
The Nigeria Revenue Service (NRS) has directed all large taxpayers to fully adopt the National E-Invoicing and Electronic Fiscal System (EFS) by July 31, 2026, warning that companies that fail to comply risk regulatory sanctions. The directive was announced in a statement issued on Sunday by Dare Adekanmbi, the Special Adviser on Media to the NRS Chairman, following an earlier public notice signed by NRS Chairman Zacch Adedeji. According to the agency, the deadline marks the end of the transition period for large taxpayers and signals the commencement of full enforcement of the electronic invoicing regime. Adekanmbi said the NRS…