‘Ghost Cars’ Bait Tactic Under FTC Scrutiny As Dealers Promo Unavailable Vehicles

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‘Ghost Cars’ Bait Tactic Under FTC Scrutiny As Dealers Promo Unavailable Vehicles

Car buyers are being lured by inventory that doesn’t even exist. A
growing number of dealerships are advertising vehicles that are already
sold, unavailable, or never intended to be offered at the listed price,
triggering what regulators are now scrutinizing as the “ghost car”
listing tactic for unavailable vehicles, per reports.

This is not about one bad dealership. This is a system that rewards
deception at the top of the funnel. Consumers think the negotiation
starts at the dealership. In reality, the manipulation starts at the
search result. This is no longer a fringe tactic. It is becoming a
defining issue in automotive retail as enforcement accelerates and
consumer awareness catches up.

Automotive retail analysts Zach & Ray Shefska are available to discuss
this troubling practice gaining FTC attention as part of a broader
crackdown on deceptive automotive pricing and advertising. Regulators
warn that consumers are increasingly being misled at the very first
touchpoint of the buying journey: online listings. They can discuss
topics like:

  • How “ghost car” listings are engineered to game search filters
    and dominate online marketplaces before a consumer ever speaks to a
    dealer
  • The psychological trap: why consumers feel committed once they show
    up, even when the advertised car is gone
  • The rise of “lead bait” inventory and how dealerships monetize
    clicks even without selling that specific vehicle
  • Why this tactic is accelerating now as inventory tightens again and
    dealers fight for fewer buyers
  • The connection between ghost listings and forced upsells into higher
    margin vehicles, financing, and add ons
  • How online car marketplaces may unintentionally enable or fail to
    catch these deceptive listings at scale

Also read: https://brandspurng.com/2026/05/05/ten-nigerian-startups-secure-560000-funding-to-tackle-rising-heat-crisis-across-nigeria/

  • The widening gap between advertised price and real out the door
    cost, and why it is getting harder for consumers to compare deals
  • What regulators are actually looking for right now and how
    enforcement could change the digital car shopping experience in the next
    6 to 12 months
  • Red flags consumers can spot immediately in listings that signal a
    potential ghost car situation
  • Why asking for out the door pricing in writing is becoming the
    single most powerful consumer protection move
  • The role of AI and automation in both creating and potentially
    exposing deceptive listings
  • How widespread this practice really is based on recent dealer
    outreach experiments and quote comparisons
  • The hidden economics: why even one ghost listing can generate
    thousands in downstream profit
  • Whether this crackdown could force a permanent shift toward all-in
    pricing and real time inventory verification
  • The broader trust crisis in automotive retail and how ghost listings
    are just the most visible symptom

You Clicked It. It Was Never There. Now You’re On the Hook.

Recent enforcement focus highlights how these listings are used to
generate leads, pull shoppers into dealerships, and then redirect them
to higher priced or less desirable vehicles. The result is a systemic
erosion of trust at scale.

Data signals the scope of the issue. Industry watchdogs estimate that
listing to transaction price discrepancies can rise by 7 to 8 percent
once fees, add-ons, or vehicle substitutions occur. At the same time,
federal regulators have already issued warnings to dozens of dealer
groups tied to deceptive pricing and availability practices.

The takeaway for consumers is urgent. The vehicle you click on may not
be available, and the price you see may not reflect reality. Experts
advise confirming availability in writing, requesting out the door
pricing upfront, and avoiding dealerships that refuse to provide
transparent documentation before an in person visit.

Ten Nigerian Startups Secure $560,000 Funding To Tackle Rising Heat Crisis Across Nigeria

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Ten Nigerian Startups Secure $560,000 Funding To Tackle Rising Heat Crisis Across Nigeria

A total of ten Nigerian startups have secured $560,000 in funding to develop innovative solutions aimed at addressing the growing economic and health challenges caused by extreme heat across the country.

The funding initiative, delivered under the TECA Heat Action Wave programme, supports early-stage ventures working across agriculture, healthcare, clean energy, logistics, and climate intelligence to reduce the impact of rising temperatures on livelihoods and infrastructure.

The selected startups will each receive $56,000 alongside technical assistance and business development support, with the goal of scaling solutions that respond to heat-related disruptions affecting food systems, public health, and energy reliability.

Brandspur Climate Innovation Desk reports that the programme is supported by organisations including BFA Global, FSD Africa, ClimateWorks Foundation, and the Foreign, Commonwealth & Development Office in Nigeria, as part of broader efforts to expand climate adaptation financing in Africa.

Rising temperatures in Nigeria have increasingly strained agricultural productivity, damaged perishable supply chains, and heightened health risks, particularly for outdoor workers and communities with limited access to reliable electricity and cooling systems.

Among the funded ventures, several startups are developing heat-focused agricultural technologies, including AI-driven soil monitoring, climate alert systems for farmers, and logistics platforms designed to reduce post-harvest losses caused by high temperatures.

Others are targeting healthcare and infrastructure challenges, with solutions ranging from predictive hospital systems that anticipate power failures to solar-powered cooling technologies and sanitation systems designed for extreme weather resilience.

Also read: https://brandspurng.com/2026/05/05/mustafa-bello-takes-over-as-zenith-bank-chairman-following-jim-ovias-retirement/

Programme organisers say the initiative is intended to demonstrate that climate adaptation can evolve into a viable investment opportunity while addressing urgent environmental and economic risks facing developing economies.

Industry partners involved in the programme emphasised that scaling such innovations will be critical to building resilience, improving productivity, and unlocking climate-focused financing across Nigeria and the wider West African region.

Experts also note that extreme heat is increasingly being recognised not only as an environmental challenge but as a structural economic risk affecting labour productivity, food security, and national infrastructure systems.

The selected startups will now enter an acceleration phase that includes product development, investor readiness training, and market testing, with final presentations expected to attract additional funding and strategic partnerships.

Mustafa Bello Takes Over As Zenith Bank Chairman Following Jim Ovia’s Retirement

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Mustafa Bello Takes Over As Zenith Bank Chairman Following Jim Ovia’s Retirement

Zenith Bank Plc has appointed Engr. Mustafa Bello as its new Chairman following the retirement of founder and long-serving Chairman, Jim Ovia, marking a major leadership transition at one of Nigeria’s leading financial institutions.

The appointment was confirmed in a corporate disclosure issued in Lagos on May 5, 2026, in line with regulatory provisions of the Central Bank of Nigeria (CBN), which stipulate a 12-year tenure limit for chairpersons of banks and other financial institutions. Bello, who has served on the bank’s board since December 2017, is currently the longest-serving director and now assumes the top leadership role.

Brandspur Banking News Desk reports that the transition comes at a critical period for Zenith Bank as it seeks to sustain its market leadership, profitability, and strategic expansion agenda in a more regulated and competitive banking environment.

The bank stated that Bello was selected based on his extensive experience in corporate governance, strategic leadership, and institutional oversight, noting that his appointment has received regulatory approval to ensure continuity and stability in board operations.

Jim Ovia, who founded Zenith Bank in 1990 and led it through decades of expansion into a Tier-1 banking institution, exits after years of service as Managing Director/CEO and later as Chairman from 2014. The Board described his tenure as instrumental in strengthening the bank’s governance structure, profitability, and global reputation.

Also read: https://brandspurng.com/2026/05/05/uba-announces-retirement-of-non-executive-director-angela-adebayo-after-six-year-board-tenure/

Bello, a 72-year-old engineer and former public sector leader, brings decades of experience spanning engineering, governance, and investment promotion. He previously served as Nigeria’s Minister of Commerce between 1999 and 2002 under former President Olusegun Obasanjo, and later as Executive Secretary and CEO of the Nigerian Investment Promotion Commission (NIPC) from 2003 to 2014, where he led efforts to attract foreign direct investment into the country.

His public service career also includes early engineering roles in the Nigerian Army and Niger State Housing Corporation, as well as later involvement in economic policy formulation and investment facilitation initiatives. He currently chairs Invest-in-Northern Nigeria Limited.

Zenith Bank, in its latest financial disclosures, continues to maintain strong performance, posting a pre-tax profit of N1.26 trillion in its 2025 full-year results, supported by significant growth in interest income and expanded lending operations. In the first quarter of 2026, the bank reported a pre-tax profit of N360.92 billion, underscoring its resilience amid rising operational costs and regulatory adjustments.

With the leadership transition now complete, industry analysts say the new chairman will be tasked with balancing regulatory compliance, profitability, and long-term growth as Zenith Bank navigates evolving macroeconomic conditions and sector reforms.

UBA Announces Retirement Of Non-Executive Director Angela Adebayo After Six-Year Board Tenure

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UBA Announces Retirement Of Non-Executive Director Angela Adebayo After Six-Year Board Tenure

United Bank for Africa has confirmed the retirement of Erelu Angela Adebayo from its Board of Directors, marking the end of her six-year tenure as a non-executive director at the pan-African financial institution.

The announcement was contained in a statement issued by the bank’s Group Company Secretary, confirming that Adebayo joined the board in August 2018 and exited after completing her service on May 4, 2026.

During her time on the board, she contributed to several strategic committees, including Audit and Governance, Credit, Risk Management, and Operations and Technology, playing a role in oversight and corporate governance functions within the bank.

The board expressed appreciation for her contributions, describing her service as impactful and wishing her success in her future endeavours.

Brandspur Banking News Desk reports that Adebayo’s departure comes at a time when UBA continues to navigate mixed financial performance trends, alongside broader efforts to strengthen governance and operational efficiency across its African banking operations.

In its most recent unaudited quarterly results, the bank reported a decline in profit before tax, even as gross earnings recorded modest growth driven by interest and non-interest income streams.

Also read: https://brandspurng.com/2026/05/05/lagos-consumer-protection-agency-warns-businesses-over-misleading-pricing-and-hidden-charges/

However, rising operating expenses, particularly in energy, maintenance, and operational costs, placed pressure on overall profitability during the period under review.

Adebayo brings decades of experience across governance, real estate, public service, and philanthropy, having previously served as First Lady of Ekiti State and as Chairman of Afriland Properties Plc, as well as holding board positions in multiple private and non-profit organisations.

Her academic background includes degrees from the University of Ibadan, the University of Lagos, and the University of Cambridge, further reflecting her long-standing involvement in leadership and institutional development across sectors.

UBA continues to position itself as a leading African financial institution while adjusting its board composition in line with evolving governance and strategic

Lagos Consumer Protection Agency Warns Businesses Over Misleading Pricing And Hidden Charges

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Lagos Consumer Protection Agency Warns Businesses Over Misleading Pricing And Hidden Charges

The Lagos State Consumer Protection Agency has issued a strong warning to businesses operating across the state over the rising incidence of misleading pricing, hidden charges, and deceptive advertising practices affecting consumers.

The agency expressed concern that some businesses advertise products and services at attractive prices, only for customers to be confronted with additional costs or altered conditions at the point of purchase, a practice it described as misleading and unlawful.

According to the General Manager of the agency, Afolabi Solebo, such practices undermine consumer trust and violate provisions of Lagos State consumer protection regulations, which require that all advertised prices be clear, accurate, and fully inclusive.

The agency cautioned against tactics such as fake discounts, unclear pricing structures, and bait-and-switch advertising strategies, warning that they distort market transparency and disadvantage unsuspecting consumers.

It further advised businesses running promotions, sales campaigns, or promotional draws to avoid vague terms such as “while stock lasts,” stressing that all promotional conditions must clearly specify duration, eligibility, and terms of engagement.

Also read: https://brandspurng.com/2026/05/05/fcmb-and-bhm-launch-monetised-content-masterclass-to-strengthen-nigerias-media-revenue-and-digital-sustainability/

Brandspur Brand News Desk reports that the agency has reinforced its enforcement stance, noting that violations of fair pricing and advertising standards fall under consumer rights protections, particularly the right to accurate information in all commercial transactions.

LASCOPA warned that non-compliant businesses risk sanctions, penalties, and possible prosecution under applicable state consumer protection laws.

The agency urged supermarkets, online vendors, automobile dealers, electronics retailers, and service providers to review their pricing and advertising strategies to ensure full compliance with transparency requirements.

Consumers were also encouraged to report cases of misleading pricing and false advertising through official complaint channels to support regulatory enforcement efforts.

LASCOPA reaffirmed its commitment to maintaining a fair, transparent, and competitive marketplace in Lagos State, while strengthening consumer confidence and protecting residents from exploitative business practices.

FCMB And BHM Launch Monetised Content Masterclass To Strengthen Nigeria’s Media Revenue And Digital Sustainability

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FCMB And BHM Launch Monetised Content Masterclass To Strengthen Nigeria’s Media Revenue And Digital Sustainability

First City Monument Bank has partnered with communications firm BHM to host a pilot edition of “The Monetised Content Masterclass,” an initiative aimed at strengthening the financial sustainability of Nigeria’s media and digital content ecosystem.

The programme brought together journalists, editors, content creators, and media entrepreneurs in Lagos to address the growing challenge of declining traditional advertising revenue and the urgent need for diversified income streams in modern newsrooms.

The initiative is designed to equip media professionals with practical strategies for monetising content through brand partnerships, digital platforms, and audience-driven revenue models, while maintaining editorial independence and integrity.

Brandspur Brand News Desk reports that the masterclass reflects a broader shift within Nigeria’s media and communications industry, where digital transformation is reshaping how content is created, distributed, and monetised across platforms.

Industry projections shared at the event indicate that Nigeria’s entertainment and digital media sector is expected to reach approximately $4.9 billion by 2026, driven by increased online consumption and brand investment in digital storytelling.

Speakers at the session emphasised the importance of building sustainable business models for journalism, noting that fragmented audience attention and reduced traditional advertising spend have made innovation essential for survival in the media industry.

Also read: https://brandspurng.com/2026/05/05/showmax-subscribers-transition-to-dstv-stream-compact-with-65-percent-discount-offer-following-platform-shutdown/

Participants engaged in panel discussions, interactive sessions, and case study analyses focused on converting global media trends into practical monetisation strategies tailored to the Nigerian market.

Industry leaders, including representatives from FCMB, highlighted the need for structured platforms that can support long-term value creation, while BHM leadership stressed that financial resilience is now central to maintaining independent journalism.

The initiative also featured contributions from media professionals and digital entrepreneurs who shared insights on storytelling, content monetisation, and the evolving role of technology in shaping Africa’s media future.

Organisers say the programme marks the beginning of a broader effort to strengthen Nigeria’s creative and media economy through capacity building, innovation, and strategic collaboration between financial institutions and media stakeholders.

Showmax Subscribers Transition To DStv Stream Compact With 65 Percent Discount Offer Following Platform Shutdown

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Showmax Subscribers Transition To DStv Stream Compact With 65 Percent Discount Offer Following Platform Shutdown

Subscribers of Showmax in Nigeria are set to benefit from a transitional offer following the platform’s discontinuation on April 30, 2026, as parent company MultiChoice Group begins migrating users to its unified streaming service.

As part of the transition strategy, eligible customers will receive temporary trial access to DStv Stream Compact before being offered a discounted subscription plan priced at ₦6,500 per month for 12 months, representing more than 65 per cent reduction compared to standard pricing.

The migration is part of a broader restructuring of streaming services under the CANAL+ ecosystem, aimed at consolidating content delivery into a single digital platform known as DStv Stream.

The offer provides users with access to a wider entertainment catalogue, including live television channels, international movies and series, children’s programming, and sports content via SuperSport, available across mobile devices and smart televisions.

Brandspur Brand News Desk reports that only eligible Showmax subscribers who signed up directly and do not currently hold active DStv subscriptions will qualify for the transition package, with communication being sent directly to registered email accounts.

Also read: https://brandspurng.com/2026/05/05/nigeria-sim-recycling-debate-intensifies-as-lawmakers-push-for-extended-reassignment-window/

According to the transition framework, users will receive free access to DStv Stream Compact until the end of May 2026, after which they can continue at the discounted rate provided their subscriptions remain active and payments are up to date.

Existing DStv customers who already access Showmax through bundled packages are excluded from the promotional offer, while standalone subscribers will be required to manually migrate through a sign-up process communicated via email.

The company has also confirmed that unused subscription balances for customers choosing not to migrate will be eligible for refunds in line with standard terms, while automated payments to Showmax will cease following the service shutdown.

Industry observers say the move reflects a strategic shift toward platform consolidation in the global streaming market, as media companies streamline services to improve content distribution efficiency and subscriber retention.

Nigeria SIM Recycling Debate Intensifies As Lawmakers Push For Extended Reassignment Window

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Nigeria SIM Recycling Debate Intensifies As Lawmakers Push For Extended Reassignment Window

Nigeria’s ongoing debate over SIM card recycling and digital identity protection has intensified following renewed calls by lawmakers for the Nigerian Communications Commission to extend the SIM reassignment period to 18 months, in a bid to reduce fraud and improve subscriber safety.

The proposal seeks to address growing concerns over the risks associated with recycled mobile numbers, which are often linked to banking profiles, digital accounts, and identity verification systems even after reassignment to new users.

At the centre of the discussion is the balance between consumer protection and the operational realities of the telecommunications sector, where inactive SIM cards are routinely recycled due to numbering constraints and cost implications for operators.

Brandspur ICT News Desk reports that while the extension proposal is designed to reduce cases of identity theft, financial fraud, and unauthorised access to digital accounts, experts argue that the issue extends beyond reassignment timelines into deeper structural weaknesses within Nigeria’s digital identity ecosystem.

Industry stakeholders note that mobile numbers are increasingly tied to sensitive systems, including banking services, government databases, and social media platforms, creating a situation where recycled numbers may still carry traces of previous users’ digital identities.

Also read: https://brandspurng.com/2026/05/05/black-market-dollar-rate-holds-steady-as-naira-trades-within-narrow-range-on-may-5-2026/

Concerns have also been raised about the economic structure of SIM management, where telecom operators face regulatory and operational pressures that encourage quicker recycling of inactive numbers, thereby increasing the risk of incomplete data disconnection.

Experts warn that extending the reassignment period alone may not fully resolve the problem, stressing the need for a more comprehensive framework that ensures full digital unlinking of numbers across financial institutions, telecom databases, and online platforms before reassignment.

Proposed reforms include system-wide identity delinking protocols, real-time risk classification of recycled numbers, improved subscriber notification systems, and stronger coordination between regulatory bodies overseeing telecommunications, financial services, and data protection.

As Nigeria’s digital economy continues to expand, stakeholders emphasise that mobile numbers have effectively become core identity tools, making SIM lifecycle management a critical component of national data security and financial system integrity.

The debate is expected to continue as regulators and policymakers weigh the trade-offs between operational efficiency and the growing need for stronger safeguards in the country’s rapidly evolving digital ecosystem.

Black Market Dollar Rate Holds Steady As Naira Trades Within Narrow Range On May 5, 2026

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Black Market Dollar Rate Holds Steady As Naira Trades Within Narrow Range On May 5, 2026

The Nigerian naira traded within a relatively stable range against the United States dollar on Tuesday, May 5, 2026, as market activity reflected ongoing liquidity support measures by the Central Bank of Nigeria in the official foreign exchange window.

Data from the official Nigerian Foreign Exchange Market indicated that the exchange rate hovered around ₦1,374 to the dollar, with intraday movements recorded between approximately ₦1,362 and ₦1,378. The trend points to a controlled trading environment amid sustained demand pressures in the forex market.

Brandspur Banking News Desk reports that market participants attributed the steady movement of the naira to continued interventions aimed at improving dollar supply, alongside regulatory efforts to stabilise pricing across official trading channels.

Also read: https://brandspurng.com/2026/05/05/africa-prudential-launches-sabivest-app-to-transform-share-management-and-investment-tracking-in-nigeria/

Analysts noted that the currency’s short-term direction is likely to be shaped by fluctuations in global crude oil prices, the level of Nigeria’s external reserves, and monetary policy actions designed to enhance liquidity in the foreign exchange system.

Market operators also observed persistent demand for dollars from importers, international travellers, and businesses seeking foreign currency outside official banking channels, a factor that continues to place underlying pressure on the naira.

Despite these pressures, sentiment in the foreign exchange market remains cautiously stable, with traders closely watching policy signals from monetary authorities and broader global economic conditions that could influence capital inflows and currency performance in the coming weeks.

Africa Prudential Launches Sabivest App To Transform Share Management And Investment Tracking In Nigeria

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Africa Prudential Launches Sabivest App To Transform Share Management And Investment Tracking In Nigeria

Africa Prudential Plc has launched a new digital investment platform known as Sabivest, designed to streamline shareholder management and improve access to capital market investments for retail and institutional investors in Nigeria.

The application, unveiled in Lagos on April 30, 2026, provides users with a unified digital dashboard that allows them to view, manage, and track multiple shareholdings and investment portfolios in one place. The platform also integrates tools for dividend monitoring, portfolio performance tracking, and real-time investment visibility.

The launch event featured a stakeholder roundtable themed “Building Trust and Driving Innovation in Nigeria’s Capital Market,” bringing together key industry participants to discuss digital transformation, transparency, and the future of investment systems in the country.

Brandspur Banking News Desk reports that Sabivest is positioned as part of a broader shift toward financial digitisation in Nigeria’s capital market, addressing long-standing challenges such as fragmented investment records, limited portfolio visibility, and difficulties in tracking dividend payments.

According to Africa Prudential’s leadership, the platform was developed to simplify investment processes by consolidating multiple financial instruments into a single ecosystem, enabling investors to manage assets more efficiently through a centralised interface.

Also read: https://brandspurng.com/2026/05/05/flexmobile-set-to-enter-nigeria-telecom-market-with-mvno-model-and-digital-service-strategy/

The company stated that Sabivest includes features such as consolidated portfolio views, asset allocation breakdowns, e-dividend notifications, historical dividend records, and support for recovering unclaimed dividends, aimed at improving investor experience and financial transparency.

Industry stakeholders at the event highlighted the importance of trust, collaboration, and technology in deepening participation in Nigeria’s capital market, particularly among retail investors, young professionals, and diaspora participants.

Sabivest is now available for download on both Android and iOS platforms, with Africa Prudential positioning the solution as a key step toward modernising investment management and expanding access to Nigeria’s financial markets.

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