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Nigeria - CPC News - 2012 Succes Stories
- Introduction of the Products and Services Listing and Monitoring Programme (Pro Serve) Database which is a CPC/African Roundtable Business & Trade Partnership Programme for the Consumer Products and Services Database. The programme is designed to protect consumers and ensure they are well informed about the various products and services available to them in the market place. In addition, the database is a veritable tool for the Council's surveillance activities in the market place.
- Three new regulations designed to curtail consumer abuses in the market place: 1) Unfair Commercial Regulation; 2) Consumer Complaints Redress Regulations; and 3) Price Marking Regulations.
- New Competition Law Regime - The CPC has been the driving force behind a new competition policy and law in Nigeria, in collaboration with the Bureau of Public Enterprises, and the Federal Ministry of Trade and Investment. These collective efforts have resulted in a Bill for the establishment of the Federal Competition and Consumer Protection Commission.
- Creation of an E-Dispute Arbitration Panel - The CPC partnered to develop an E-Dispute Arbitration Framework, which is expected to be adopted by the Governing Board of the Central Bank of Nigeria for immediate implementation. The Framework is a one stop dispute redress recolution option for e-payment transactions in Nigeria.
- 'No Wahala' Fast Consumer Loans/'Wonder Bank' Project - The CPC, in collaboration with the Central Bank, put together a Joint Task Force to crack down on financial institutions and other entities that target consumers for fast loans that take advantage of consumers.
- Mobile and Online Scams - CPC collaborates with the Economic and Financial Commission (EFCC) to address online and mobile fraud through a Transactions Clearing Platform (TCP). TCP is an online platform, which can be accessed at www.efccnigeria.org. TCP is structured to provide free basic, first tier, due diligence for any third party receiving a business proposal from Nigeria. TCP can do the following on behalf of any third party: i) confirm the identity of the Nigerian counterpart; ii) confirm if the Nigerian contracting party can deliver on the business or promise made; iii) confirm if the Nigerian contracting party has a track record in the business/proposal made. In less than 2 years, the TCP has prevented financial scams of over 2 billion US Dollars and attended to over 10,000 inquiries from all over the world.
- Consumer Education/Advocacy Initiatives - 'LEARNING FOR LIFE' Program - CPC in partnership with the Nigerian Education Research & Development Council (NERDC) introduced consumer education into primary and junior secondary school curriculum in Nigeria. About 600 schools across the nation now have consumer clubs as part of their extra-curricular activites.