Business

Sterling Bank redefines African fashion excellence at 10th Africa Fashion Week Nigeria

Published

Saturday, 26 April 2025, 11:36 am

Sterling Bank redefines African – Sterling Bank redefines African…

Sterling Bank redefines African – As the headline sponsor…

As the headline sponsor of the monumental 10th Africa Fashion Week Nigeria (AFWN), Sterling Bank, the One Customer Bank, reinforced its dominance as a driving force behind Nigeria’s creative revolution, boldly empowering artistic visionaries and entrepreneurial trailblazers to redefine global fashion narratives.

Chidimma Okoli, Head of Brand Marketing, articulated the bank’s strategic vision: “Our objective is clear – we are equipping Nigerian designers with the skills, networks, and opportunities necessary to compete on the global stage. This is a deliberate, systematic approach to building national creative capacity.”

“Our support transcends traditional banking,” emphasised Abiola Adelana, Head of Tourism, Creative Arts, and Business at Sterling Bank. “We recognise the transformative power of our creative industries and are dedicated to providing meaningful platforms for emerging talents.“

A prime example of this commitment was the recognition of Lambert Fashion’s CEO, Ogboghodo Adesuwa Ella. With eight years of industry experience and a successful progression to the main fashion show, Ella received an all-expenses-paid opportunity at the Kunle Afolayan Production Film Village.

This award represents more than a prize – it is a push in individual creative potential.

“We leverage this platform to enhance capacity-building efforts, teaching participants how to better brand their products so they can compete on a global scale.”

Okoli further emphasised that all Nigerian vendors at the exhibition have been integrated into the ‘Made By Nigerian Initiative’, which will facilitate ongoing collaboration until the next event.

“We participate in AFWN to offer emerging designers invaluable opportunities to refine their branding and positioning strategies for international competitiveness,” she added.

“Sterling Bank will always support initiatives that help build capacity and positively impact the communities they serve.”

Sterling Bank isn’t just supporting creativity—it’s driving Nigerian innovation, resilience, and global leadership in the competitive world of fashion and the arts.

This initiative extends far beyond the fashion industry.

It represents a profound belief in Nigerian talent and a strategic commitment to providing creators with the tools, resources, and platforms to shine on the world stage.

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Business

Nigerian govt wins legal battle as tribunal upholds $220m fine against Meta

Published

2 hours ago

April 26, 2025

John

The Competition and Consumer Protection Tribunal has upheld a $220 million fine levied by Nigeria’s Federal Competition and Consumer Protection Commission (FCCPC) against Meta Platforms Inc., the parent company of Facebook and WhatsApp, marking a significant victory for consumer rights enforcement in the country.

In a ruling delivered by a three-member panel led by Thomas Okosun, the Tribunal dismissed Meta’s appeal, affirming that the FCCPC acted within its statutory and constitutional powers in sanctioning the tech giant for engaging in discriminatory and exploitative practices.

The case stems from a 38-month investigation jointly conducted by the FCCPC and the Nigeria Data Protection Commission (NDPC), which began in 2020.

The probe focused on Meta and WhatsApp’s consumer data policies, privacy practices, and overall conduct in Nigeria’s digital space.

“The Tribunal determined that the Commission complied with prevailing laws, discharged its mandate, and exercised its powers within the confines of the 1999 Constitution,” said Ondaje Ijagwu, FCCPC’s Director for Corporate Affairs.

READ ALSO: Is Nigeria’s $220m fine on Meta enough to end data privacy violations?

The Tribunal resolved seven key issues in the appeal, siding with the FCCPC on nearly all fronts. One pivotal matter — the claim that Meta was denied a fair hearing — was rejected, with the Tribunal concluding that the Commission afforded the companies ample opportunity to defend themselves.

“The FCCPC fully discharged its quasi-judicial responsibilities,” the Tribunal ruled, also affirming the Commission’s authority to oversee data protection and privacy under Section 104 of the Federal Competition and Consumer Protection Act (FCCPA).

Regarding the contentious issue of Meta’s privacy policy, the Tribunal upheld the Commission’s finding that the policy contravened Nigerian law.

However, the Tribunal did set aside one aspect of the FCCPC’s final order — Order 7 — citing insufficient legal foundation.

READ ALSO: Mark Zuckerberg’s Meta just got some bad news

Alongside upholding the $220 million penalty, the Tribunal also awarded the Commission $35,000 in investigation costs.

FCCPC Executive Vice Chairman and CEO, Mr. Tunji Bello, welcomed the ruling, praising the Commission’s legal team for its “exceptional diligence and forensic skills.”

He reaffirmed the FCCPC’s dedication to protecting consumer rights and fostering fair market practices, stating, “This judgment is a victory for all Nigerian consumers and a clear message that no company is above the law.”