By Emmanuel Ogbodo<\/p>\n
The federal government plans to create regulations for e-commerce platforms and cyber insurance for users. This initiative is part of the draft National Digital Economy and E-Governance Bill, currently under review by the National Assembly.<\/p>\n
Section 40 of the Bill states, \u201cThe National Insurance Commission (NAICOM) in consultation with the regulatory agency shall develop and issue regulations including provisions on cyber insurance to improve security in electronic commerce.\u201d The “regulatory agency” refers to the National Information Technology Development Agency (NITDA) as per the Bill\u2019s interpretation.<\/p>\n
The Ministry of Communications, Innovation, and Digital Economy sponsors the Bill, which is in the public engagement phase.<\/p>\n
The Bill also outlines guidelines for e-commerce platform operations in Nigeria. Section 39 focuses on information requirements for these platforms. It mandates sellers using electronic communications to provide accurate, clear, and accessible information about themselves, including their legal name, principal geographic address, and contact details for effective consumer communication and legal processes.<\/p>\n
Subsection two requires e-commerce platforms to offer accurate information about the goods or services they provide. Subsection three emphasises clear terms and conditions, including transaction terms, payment methods, and detailed policies on withdrawal, termination, return, exchange, cancellation, and refunds.<\/p>\n
If passed into law, this Bill will impose stricter regulations on major e-commerce platforms like Jumia and Konga, as well as smaller industry players. It could also introduce new taxes and levies by NITDA. E-commerce platforms will face fines for violating any section of the law.<\/p>\n","protected":false},"excerpt":{"rendered":"
By Emmanuel Ogbodo The federal government plans to create regulations for e-commerce platforms and cyber insurance for users. This initiative is part of the draft National Digital Economy and E-Governance Bill, currently under review by the National Assembly. Section 40 of the Bill states, \u201cThe National Insurance Commission (NAICOM) in consultation with the regulatory agency […]<\/p>\n","protected":false},"author":2,"featured_media":23351,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[172],"tags":[],"class_list":["post-39480","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/39480","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=39480"}],"version-history":[{"count":1,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/39480\/revisions"}],"predecessor-version":[{"id":39481,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/39480\/revisions\/39481"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/23351"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=39480"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=39480"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=39480"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}