Back in January, ahead of the General Elections then set for February 14, 2015, the APC setup an SMS-based crowdfunding platform to raise funds for the General Buhari Campaign. They enlisted the services of 5 major telcos in Nigeria – Airtel, Etisalat, Globacom, MTN and Visafone – to make this possible. It was an instant hit but it was short-lived – the NCC intervened in threatening to clamp down on telcos if they refused to stop the campaign.
Consequently, the APC took the matter to the court and as it turns out, they won. Said Justice Ibrahim Buba of the Federal High Court, Lagos yesterday:
The directive by the NCC to the telecoms firms is hereby struck out having been made without power and in contravention of the fundamental rights of the applicant (APC)”. The sum of N500m has been ordered to be paid to APC in damages.
NCC and five of its Licensees have been mandated to jointly pay the said amount in damages to the All Progressives Congress, APC, for suspending the Party’s presidential campaign fundraising platform.
Nigerian startups raised $17.6m in Q1 2019, 8.5% higher than they did in Q1 2018. Find out more in the latest quarterly edition of the Nigerian Startup Funding Report here.