The Consumer Protection Council (CPC) has vowed to sanction online marketing companies that seek to exploit and defraud Nigerians.
CPC’s Director General, Babatunde Irukera, who handed down the warning after meeting with online marketing companies said the meeting is necessary to prevent fraud as so many people are coming into the online marketing business in a bid to defraud Nigerians.
Over the years, there have been a dramatic rise in E-Commerce in Nigeria, with global online shopping hitting $2.
29 trillion in 2017.
According to him, 70 per cent of Nigerian consumers are worried about the safety of their transactions adding that the “Consumer Protection Council and Senior Management of Online Marketing Companies understand the nature and scope of complaints generated in this space.
” He said the meeting is to streamline operational principles that will enhanced consumer confidence as part of the commemoration of the World Consumer Rights Day agreedhemed: “Making the Digital Marketplaces Fairer.
“The sanction regime is very complex and very diverse as there will be tunes of penalties to make sure that inappropriate behaviour by these online marketing companies are penalised.
” The CPC boss explained that the Council and the online marketing companies have agreed that only a robust ethical and well regulated industry can promote consumers confidence and eliminate distrust.
This is even as he further explained that both parties have agreed that a vibrant E- commerce industry can only be sustained with clear transparent guidelines.
“The particular concern that was the subject of discussion was protecting consumer as well as protecting and legitimate and responsible online marketing companies and their brands” “Parties also recognise that technological disruption and innovation remain a vital catalyst for economic expansion, commercial penetrative and shared prosperity, ” he said.
“Online market platforms recognise the importance of full frank and complete disclosures of any terms, conditions, exceptions or restrictions on products marketed on their platforms.
