Brands/Products
FCCPC Investigates Three Steel Firms Over Substandard Products, Unfair Practices
By Adedapo Adesanya
The Federal Competition and Consumer Protection Commission (FCCPC) has visited three steel manufacturing firms to investigate the alleged production of substandard iron rods and alleged involvement in other trade anti-competition practices.
The affected companies are African Foundries Limited (AFL), Ogijo, Lagos; the Monarch Steel Mill Limited, Sagamu, Ogun, and the Kam Steel Integrated Company, Sagamu, Ogun State.
The Acting Executive Vice Chairman of FCCPC, Mr Adamu Abdullahi, who led the operation, told journalists on Friday at the premises of AFL, that the agency’s visit to the three companies was informed by intelligence that they might be involved in unfair and anti-competitive practices.
The visit was a joint operation of FCCPC and the Independent Corrupt Practices and Other Related Offences Commission (ICPC), the National Information Technology Development Agency (NITDA), and the Nigeria Police Force (NPF).
Mr Abdullahi said the team was there to take samples of their products and examine their records to determine what they do.
“There have been reports of false, misleading, deceptive as well as unfair market practices. Some manufacturers would produce 10mm iron rods but label and market the same as 12mm iron rods. This practice is among the major causes of building collapse in Nigeria.
“We are talking about the issue of safety of Nigerians, which is the core essence of consumer protection. We have to ensure the safety of our population. What is happening in the building space is worrisome to the government and all well-meaning citizens. So, we have to look at their process to find out if they are cutting corners. If they are doing so, we will apply the full wrath of the law. That is why we are here,” he said.
Commenting on the companies’ attitude during the fact-finding mission, Mr Abdullahi said all three companies were very cooperative with the commission.
“That is why we had no issues. Naturally, we would expect that their lawyers would have advised them that our laws allow this process,” he added.
He emphasised that the FCCPC was still at the fact-finding stage and was yet to find any of the companies liable.
“We are still at the information gathering stage after which we have to go back to our office and allow forensic experts to look at the information that we returned with. Whatever they take out from all the materials we have gathered will then guide our findings,” he said.
Mr Abdullahi revealed that the agency was working in collaboration with the Standard Organisation of Nigeria (SON), the Manufacturing Association of Nigeria (MAN) and the Nigerian Society of Engineers (NSE), to ensure compliance with industry standards.
“We have held meetings with them and they have given us technical advice on what we should look out for during these fact-finding trips. And that is exactly what we are doing,” he added.
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.
