Brands/Products
FCCPC Begs Tribunal to Dismiss Coca-Cola’s Appeal of N186.7m Fine
By Adedapo Adesanya
The Federal Competition and Consumer Protection Commission (FCCPC) has urged the Competition and Consumer Protection Tribunal to dismiss Coca-Cola Nigeria Limited’s (CCNL) amended appeal against the N186,666,666.67 penalty imposed for its labelling and marketing practices.
According to a statement shared by the consumer protection agency, the FCCPC had previously imposed a N186 million penalty on CCNL.
This is after formally accusing Coca-Cola Nigeria Ltd and its sister company of misleading trade descriptions and employing unfair marketing tactics in their products, Original Taste and Less Sugar.
However, CCNL appealed the commission’s decision, describing the penalty as “outrageous” and alleging that the FCCPC lacked jurisdiction to impose and enforce such orders.
The company argued that the FCCPC had assumed judicial powers that should be exercised by the tribunal.
In a statement on its official X (formerly Twitter) handle, the FCCPC alleged that Coca-Cola Nigeria Ltd and NBC deceived the public by describing the variant Coca-Cola Original Taste, Less Sugar as identical to Coca-Cola Original Taste in terms of formulation.
“Furthermore, Coca-Cola and NBC, after regulatory intervention, failed to take appropriate steps to address their misleading behaviour. This demonstrates that the companies intentionally misrepresented Coca-Cola Original Taste, Less Sugar as Coca-Cola Original Taste as part of a deliberate business strategy,” the commission added.
Coca-Cola, through its counsel, Mr Gbolahan Elias SAN, approached the tribunal, citing 15 legal grounds against the FCCPC’s decision.
CCNL also claimed that the FCCPC acted as complainant, investigator, prosecutor, and judge, thereby violating the company’s constitutionally guaranteed right to a fair hearing.
In its formal reply to CCNL’s amended appeal dated October 22, 2024, FCCPC lawyer Abimbola Ojenike raised 13 opposing grounds against the brand’s request to quash the penalty and accusations.
The FCCPC argued that Coca-Cola’s claims of procedural unfairness and bias are baseless. It emphasized that the company was provided with extensive opportunities for a fair hearing, including participation in investigations, written submissions, and multiple consultative meetings.
It claimed that Coca-Cola allegedly admitted to regulatory violations and pledged remedial actions but failed to differentiate its Coca-Cola Original from Coca-Cola Less Sugar.
The FCCPC also maintained that it has the statutory authority to issue and enforce orders, and nothing in Section 6 of the 1999 Constitution invalidates the administrative penalties or directives issued under the FCCPA.
The commission asserted its authority to investigate consumer and competition issues related to misleading branding and labelling practices under several sections of the FCCPA, 2018.
FCCPC stated that its findings on Coca-Cola’s products are valid, legally justifiable, and supported by evidence in its final investigative report and maintained that its findings are factual and verifiable, based on due process.
The FCCPC also denied making any conclusive findings on CCNL’s abuse of market dominance.
By Modupe Gbadeyanka
To make finding the right service provider or reaching the right customer seamless, popular local information portal, Connect Nigeria, has introduced a Quote Request platform.
Connect Nigeria described the new system as “a digital solution designed to make connecting with service providers faster, easier, and more reliable.”
It said the Quote Request was built for consumers who need services quickly and want trusted options without the stress of searching endlessly; and service providers and businesses looking for real, high-intent customers without spending heavily on marketing.
“Whether you need a caterer for an event, a plumber for your home, or a designer for your brand, the platform is designed to connect you with the right people,” Connect Nigeria added.
“By connecting demand directly with supply, the platform creates a more structured and dependable marketplace,” it further stated.
At its core, the Quote Request simplifies the entire process of finding and offering services.
To use the service, users have to submit a request describing the service or product needed, which is then sent to verified vendors on the platform. Interested providers respond within 1–2 days, and users compare offers and choose what works best for their needs and budget.
“Instead of searching for vendors, the vendors come to you, with relevant, tailored responses,” Connect Nigeria explained.
The company expects this new platform to eliminate the stress of endless online searches, delayed or vague responses, and uncertainty about service quality.
As for businesses, it solves poor visibility, inconsistent customer flow, and lost opportunities due to slow response times.
Connect Nigeria Quote Request mobile app is now available on the Google Play Store and Apple App Store.
By Aduragbemi Omiyale
An institutional investor, First Ally Capital, has strengthened a leading Nigerian financial technology company, Mathesis Analytics, to scale its proprietary credit decisioning infrastructure.
It made this possible by injecting fresh capital into the firm, which specialises in AI-powered credit decisioning infrastructure, an action that will directly support the growth and scaling of Mathesis’ core mission of providing the intelligence and infrastructure needed to bridge the credit gap for millions of unscored or underscored individuals across Nigeria.
With this investment, Mathesis will enable financial institutions to confidently assess and extend credit to borrowers who lack a formal credit history by leveraging an expanded pool of alternative behavioural and transactional data.
To date, Mathesis’ systems have supported more than 8 million loans for over 2 million unique borrowers in Nigeria, and the company is actively deploying its infrastructure to establish a growing pan-African footprint.
With the investment from First Ally Capital, Mathesis is well positioned to transform how the credit ecosystem operates, driving financial inclusion in partnership with lenders across the continent.
A significant barrier to credit access in Nigeria, which prides itself on being Africa’s largest economy, is data fragmentation. Borrowers frequently build positive financial behaviours across multiple digital platforms by repaying microfinance loans, saving through fintech wallets, or servicing Buy Now, Pay Later (BNPL) facilities.
However, under traditional credit infrastructure, these achievements remain invisible to new lenders.
Mathesis addresses this challenge through the concept of Personal Equity—the quantified expression of an individual’s financial behaviour aggregated across every institution with which they have transacted.
By translating these disparate signals into a precise, portable measure of creditworthiness, Mathesis creates a comprehensive credit identity that reflects the full breadth of a person’s financial life.
“True financial inclusion cannot be achieved in a vacuum; it requires structural collaboration in which lenders and fintech companies work as partners within the ecosystem.
“This investment from First Ally Capital validates our approach to reshaping credit infrastructure. By quantifying Personal Equity, we empower lenders to safely look beyond the constraints of formal credit histories and recognise a borrower’s true creditworthiness. This capital enables us to accelerate our pan-African expansion while maintaining the robust, institutional-grade infrastructure our partners rely on,” the chief executive of Mathesis Analytics, Winston Osuchukwu, stated.
On his part, the chief executive of First Ally Capital, Mr Ebenezer Olufowose, said, “At First Ally Capital, we pride ourselves on being a one-stop destination for financial solutions, offering a diverse portfolio of services ranging from investment banking and asset management to trusteeship, inclusive banking, and real estate.
“Our investment in Mathesis Analytics reflects our strong belief in the company’s vision and our commitment to supporting forward-thinking enterprises that deliver excellence.”
By Aduragbemi Omiyale
The chief executive of Canal+ Africa, Mr David Mignot, has disclosed that MultiChoice is now fully integrated into the media group.
Mr Mignot disclosed this via a statement issued on Thursday, noting that this development marks a new phase in the evolution of one of Africa’s leading pay television operators.
He noted that the integration positions MultiChoice within a global media organisation with an extensive international footprint.
“MultiChoice is now a full subsidiary of a truly international media group operating in 70 countries. The group was founded in France, is listed in London and Johannesburg, and has a strong African presence with operations in more than 45 countries,” Mr Mignot said.
The statement underscores the scale of the combined business, highlighting Canal+’s global reach alongside its significant investments across Africa.
The completion of the transaction is expected to strengthen MultiChoice’s position in the African media and entertainment market by giving it access to the broader resources, expertise and international capabilities of the Canal+ Group, while reinforcing the group’s commitment to the continent.
MultiChoice operates across sub-Saharan Africa through platforms including DStv and GOtv, serving millions of subscribers with entertainment, sports and news content.
