The Senate at its plenary session of Thursday, May 18th 2017 passed the Electronic Transaction Bill. Presenting the report of the Conference Committee on Information, Communication, Technology and (ICT) and Cybercrime, Chairman of the Committee, Sen. Buhari Abdulfatai (APC: Oyo) stated that the Bill seeks to provide a legal and regulatory framework for conducting transactions using electronic or related media, and for the protection of the rights of consumers including the facilitation of electronic commerce in Nigeria.
Sen. Abdulfatai explained that the existence of a legislative framework is premised on the need to upgrade Nigeria’s Commercial system through ICT revolution. Speaking on the resolution of the Committee during its technical session, he mentioned that the Committee had considered the Bill from both Houses and had adopted the version of the Senate owing to the fact that it was more elaborate.
