FG plans to regulate eCommerce platforms in Nigeria to enhance security

Contained in the draft National Digital Economy and E-Governance Bill, the Nigerian government is considering developing regulations to guide the operations of eCommerce platforms and set up cyber insurance for users.

The Bill, currently before the National Assembly, includes that “the National Insurance Commission (NAICOM) in consultation with the regulatory agency [National Information Technology Development Agency (NITDA)] shall develop and issue regulations, including provisions on cyber insurance to improve security in electronic commerce.”

Sponsored by the Ministry of Communications, Innovation, and Digital Economy, the Bill is currently going through a public engagement phase, and the final draft is reportedly expected to be released to the public on 23 July 2024.

Per the Bill, information such as legal name, principal geographic address, and an electronic means of contact or telephone number shall be provided by a person selling goods using electronic communications.

By Ifeoma Joy Okorie.

Full story at Tech Point.