Nigeria: National Digital Economy and E-Governance Bill, 2024 (SB 498) establishing consumer protection requirements passed first reading

On 4 July 2024, National Digital Economy and E-Governance Bill, 2024 (SB 498) passed its first reading. The Bill requires service providers or vendors to provide clear and accessible information, including their name, address, email, and telephone number. Consumers are granted the right to cancel contracts before processing. It mandates compliance with data protection standards for personal information collected during transactions and requires the disclosure of detailed terms, conditions, and costs associated with transactions. The draft Bill prohibits activities that distort market competition and introduces mechanisms for resolving disputes through online platforms. It also regulates unsolicited messages sent to consumers and encourages the use of cyber insurance policies to manage risks related to digital transactions.