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Apply Standards to Drive Digital Marketing, SON Urges Operators



  • Apply Standards to Drive Digital Marketing, SON Urges Operators

The Standards Organisation of Nigeria has urged stakeholders in the e-commerce space to adhere strictly to standards in order to ensure safe and secure transactions, assurance of quality and consumer protection.

The Director-General, SON, Osita Aboloma, stated this during a stakeholders’ forum in Lagos tagged ‘The role of standards and quality regulation in electronic commerce’.

The SON boss, who was represented by the Director, Corporate Affairs, SON, Dr. Paul Angya, noted that imbibing standards in e-commerce would go a long way in facilitating trade, promoting global competitiveness, economic growth and development.

According to him, e-commerce is a business on the rise, adding that it is crucial for the standardisation and regulation of the quality of products and services being traded through the cyberspace.

Ensuring safe and secure online platforms for sale of goods and services to enhance trade within Nigeria and across borders would ultimately increase the Gross Domestic Product of the nation, he noted.

Aboloma added that the promotion of awareness on standards and quality regulation in the e-commerce sector had become necessary as the drive for digitalised market places increased and the pressure on the standards community mounted.

He stressed that with the increasing volume of consumer complaints being received on the quality of products and services sold online, it had become necessary to have a robust regulatory framework in place to drive the e-commerce sector.

“For instance, products like mobile phones, electrical and electronic devices cannot be physically viewed and tested before purchase online while the claims on what they can do have been found in many cases to be inaccurate or sometimes outright false,” he said.

On his part, the Director-General, Consumer Protection Council, Babatunde Irukera, said that e-commerce was the way of the future, pointing out that technology was disrupting traditional commerce and trade.

He noted that as consumers were becoming more sophisticated, so also was the role of consumer protecting authorities all over the world to ensure that they were as dynamic as the sophistication of consumers.

He said, “What we believe at the CPC is that e-commerce platforms must capture the responsibilities of availing consumers with good quality for money spent.

“This is why the issues of returns, refunds and warranties are very important to us. We are in the process of writing new regulations with respect to returns, refunds and warranties while paying rapt attention to e-commerce with respect to that. We must find a way to promote e-commerce while at the same time promoting the interest and safety of the consumer.”

He said the challenge facing the e-commerce space was the nature of its ‘borderlessness’, stressing that there were jurisdictional issues on whether some of the online marketers were providing goods and services within the jurisdiction of the CPC.

The Director, Product Certification Directorate, SON, Tersoo Orngudwen, said that standards were global and that Nigeria must embrace standards as done everywhere in the world.

The President, Consumer Advocacy Foundation of Nigeria, Shola, Ajulo, said the forum was a welcome development, noting that Nigeria had caught up with the e-commerce business and possessed the skill required to ensure protection not just for physical markets, but the online markets.

“We want to address things such as warranties, refunds, returns, misleading adverts, because online marketers are taken undue advantage of. I am hoping that we would be able to have some checks and balances to make sure that the online market is safe,” she said.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade long experience in the global financial market.

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TAJBank Joins e-Commerce Giants- Launches Nigeria’s 1st Ethical Online Mall



TaJBank E-commerce

TaJBank Launches Ethical Online Mall

Abuja Nigeria July 8th, 2020  Nigeria’s most innovative Non-Interest Bank, TAJBank, has announced the highly anticipated launch of TAJMall, the nation’s first ethical online shopping mall.

The highly anticipated launch of the e-commerce site, which held recently, is coming closely on the heels of the commencement of its Agency Banking Network which began in June across thirteen (13) states in the country.

To celebrate this milestone, the brand will be holding a week long TAJMall campaign from 6th – 11th July 2020 to sensitize and also reward its new customers to its platform.

“This is a great milestone as we present a fully customer focused e- commerce platform offering 100 percent authentic brands from highly vetted vendors. Our mission is to rebuild trust in the online shopping niche, hence the emphasis on our platform being an ethical shopping mall. We want to deliver on our promise and make this an enjoyable and safe experience not just for our customers, but also for our numerous trusted vendors as well,” said Founder/COO TAJBank, Hamid Joda.

“Our customers place absolute trust that goods will be delivered exactly as requested, and we do not take that trust lightly, he added.

The brand expressed commitment to continuously deploy technological tools on it’s new e- platform to maintain optimal customer service delivery and ensure shopping on TAJMall remains a productive and hassle free experience.

Customers who log onto the platform (or download the app), will have the opportunity to enjoy massive price slashes, shopping coupons, free shipping and other incredible offers. The Bank also intends to offer financing to its customers who shop on the mall.

“Well beyond our exciting line up of activities, they are assured the highest level of value each time they make a purchase on TAJMall. Our marketing insights have shown that there is an increasing need to match the kind of variety in product offerings that customers yearn for with the exceptional shopping experience that may at times be lacking. We aim to make that an unmatched experience right from the moment our customers visit our mall to the receipt of their items,” affirmed Co-Founder/CMO, Mr Sherif Idi.

Customers shopping on TAJ Mall are guaranteed 100% authenticity, official warranties from the brands, and a 5 day return policy at no extra cost to the customer.

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Warren Buffet to Give Out Another $2.9bn, Total Donations Now $37bn



Warren Buffett's Donations

Warren Buffet Gives Away $2.9bn, Total Donations Now $37bn

Oracle of Omaha, Warren Buffet, has announced his yearly charitable donations to the five philanthropies he picked to donate most of his fortune to.

The billionaire plans to give out 15.9 million class B shares of Berkshire Hathaway worth $2.9 billion to the five philanthropies. This will bring his total philanthropic donations to $37 billion since 2006.

Warren Buffett

Buffet, who has promised to give away about 99 percent of his fortune, still hold 248,734 Class A shares of Berkshire valued at around $67.5 billion.

However, before he began given out his shares, Oracle of Omaha held 474,998 Class A shares of Berkshire, which would have worth about $129 billion as of today.

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UBA Appoints Ayoku Liadi, Oliver Alawuba as Deputy Managing Directors




UBA Appoints New Deputy Managing Directors for its Growing Business

United Bank for Africa Plc (UBA) announced the appointments of Ayoku Liadi and Oliver Alawuba as the Deputy Managing Directors in charge of UBA’s Nigeria and Africa businesses, respectively.

In a statement issued by the bank and released on the Exchange’s website, the bank said the creation of the new positions represents further strategic recognition of the bank’s pan-African business growth.

The lender explained that its pan-African business now accounts for over 40 percent of its Group revenue, while Nigeria remains the bank’s largest market.

According to the bank, the new Deputy Managing Directors will report directly to the Group Chief Executive Officer (CEO), Kennedy Uzoka.

Speaking on the new appointments, Tony O. Elumelu, Group Chairman, said “In 2005, we set out our pan-African vision. Fifteen years later, we are present in 20 African countries, serving over 20 million clients, leveraging our service culture and technology platform, to provide an integrated and seamless customer offering across the continent.

“In Africa, we lead in innovation and service, whilst our International Business, operating from New York, Paris and London, provides global and African clients access to treasury, trade finance and corporate banking products, uniquely tailored to the African opportunity. These senior appointments represent our commitment to optimise our management structure to best serve our clients and drive our business success.”

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