Individuals
Businesses
Company
Intelligence
News
African Capital Markets
EnglishEnglish
share on twittershare on linkedinshare on facebookshare to whatsapp
share on mail
share on instagram

Nigerian regulator slaps Meta with $220m fine over data abuse claims

Daba Finance/Nigerian regulator slaps Meta with $220m fine
BREAKING NEWSJuly 23, 2024 at 12:02 PM UTC

TLDR

  • FCCPC fines Meta, parent company of Facebook, WhatsApp, and Instagram, $220 million for misusing Nigerian users' data.
  • Three-year investigation by FCCPC and NDPC from May 2021 to December 2023 alleged violations of FCCPC Act 2018 and Nigeria Data Protection Regulation 2019.
  • Meta plans to appeal the decision, denies allegations, cooperated with authorities during investigation.

The Federal Competition and Consumer Protection Commission (FCCPC) has fined Meta, the parent company of Facebook, WhatsApp, and Instagram, a substantial $220 million (over ₦300 billion), accusing the company of misusing Nigerian users' data.

This follows a three-year investigation conducted by the FCCPC and the Nigeria Data Protection Commission (NDPC) from May 2021 to December 2023. The commissions allege that Meta violated multiple laws, including the FCCPC Act 2018 and the Nigeria Data Protection Regulation 2019 (NDPR).

Meta has expressed its disagreement with the allegations and the fine and plans to appeal the decision. Throughout the investigation, the company reportedly cooperated with authorities, and the FCCPC acknowledged that Meta engaged with investigators as recently as April 2024.

Key Takeaways

This is not the first instance of Meta being fined or accused of sharing users' data. In May 2024, court documents revealed that Meta had given Netflix access to Facebook users' direct messages, enabling Netflix to tailor its ads more effectively using the data. On a positive note, content creators in Nigeria can now earn money from ad revenue on Meta platforms, including Instagram and Facebook, providing new monetization opportunities.

Big Tech
Meta
Nigeria
FCCPC
NDPR
Social Media
Technology
Privacy
Data Protection
Regulation

Think someone else should see this?

share on twittershare on linkedinshare on facebookshare to whatsapp
share on mail
share on instagram
Stay informed with our newsletters read by 25,000+ professionals worldwide
Newsletter companiesNewsletter companiesNewsletter companiesNewsletter companiesNewsletter companiesNewsletter companies

Next Frontier

Stay up to date on major news and events in African markets. Delivered weekly.

Pulse54

UDeep-dives into what’s old and new in Africa’s investment landscape. Delivered twice monthly.

Events

Sign up to stay informed about our regular webinars, product launches, and exhibitions.

+25k investors have already subscribed

To invest in this opportunity and other opportunities across Africa

Download the daba finance app on your mobile through
appstore iconappstore icon
Phone Image

Take action.

Download app

Start investing in Africa’s best opportunities, including stocks, bonds, startups, venture funds, and more.

Partner with us

Unlock exciting business opportunities and growth potential.

Join Daba

Become a part of our vibrant community and enjoy exclusive benefits.

Contact us

Reach out to us for inquiries, support, or collaboration.
For Investor
StrategiesPortfolio ManagementAfrican Capital MarketsNews
Daba Pro Intelligence
For Capital Seekers
For StartupsFor Fund ManagersFor Private CompaniesFor Lenders
For Partners
Commercial BanksBroker DealersAsset ManagersInvestment BanksInvestment Advisors and ConsultantsLenders and Microfinance
Company
About UsMarket UpdatesEventsBlog and PodcastNewsletterCase StudiesAffiliate ProgramInvesting GlossaryOfficial ContactsTrust, Compliance and SecurityFrequently Asked Questions

Terms & ConditionsPrivacy Policy
EnglishEnglish

Owned by Daba Markets Inc. By using this site, you accept our Terms and Conditions and Privacy Policy. © 2024 All rights reserved. 2025 All rights reserved