News
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Reps halt implementation of cybersecurity levy
The House of Representatives has instructed the Central Bank of Nigeria (CBN) to suspend the enforcement of the cybercrime levy to comply with the regulations outlined in the Cybercrime Act. This decision came after Minority Leader Kingsley Chinda of the PDP Rivers moved a motion of urgent public importance, urging for immediate action. Chinda cited section 44 (2a) of the Cybercrime Act, which specifies the entities required to pay the designated fees, including GSM and telecom companies, internet service providers, banks, financial institutions, insurance companies, and stock exchanges. The lawmaker expressed concerns over the circular issued by the CBN, which…
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Nigerian woman emerges first black woman to bag PhD in Robotics at Michigan Varsity
Oluwami Dosunmu-Ogunbi has made history by becoming the first black woman to attain a Ph.D. in U-M Robotics at the University of Michigan. Her outstanding accomplishment was recognized and celebrated during the university’s commencement ceremony, where she delivered a speech highlighting the pivotal roles of advocates and mentors in supporting her aspirations. Dosunmu-Ogunbi emphasized the importance of inclusion in her address, reflecting on her personal journey alongside fellow PhD students who initially faced uncertainty but ultimately discovered abundant opportunities to apply engineering expertise for the betterment of society. Dosunmu-Ogunbi said, “A Michigan Engineer isn’t solely a beacon of scientific and…
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Port Harcourt, Warri refineries to be fully operational in 2024 – Ifeanyi Ubah
The Chairman, Senate Committee on Petroleum (Downstream), Ifeanyi Ubah, has said that two refineries- Port Harcourt and Warri would be fully operational by the end of 2024. Ubah said plans have already been put in place to achieve the target, stressing that the Kaduna Refinery would also be operational before the end of next year. He said that the completion of the plants and the addition of supply from the 650,000 barrels per day, bpd Dangote Refinery would enable the nation to meet its domestic fuel demand. The senator also called on the federal government and other stakeholders to work…
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You have no idea to share, nothing excites you more than causing division, hatred – Daniel Bwala tells Peter Obi
Former Senator Daniel Bwala criticized Peter Obi, the former presidential candidate of the Labour Party, accusing him of spreading misinformation and lacking substantial ideas. Bwala, who previously suggested Nigerians should adapt to the country’s harsh economic realities, criticized Obi’s governance record, describing it as filled with rhetoric, falsehoods, and misinformation. He made these remarks while responding to Obi’s post about his speech at Cambridge University and Anglia Ruskin University on “African Leadership’s Role in Fostering Global Citizenship and Social Responsibility.” Bwala asserted that Obi had nothing meaningful to share and accused him of misleading churches during the previous general elections.…
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200 jobs at risk as Microsoft contemplates closure in Lagos
Microsoft is contemplating the closure of its African Development Centre located in Lagos. If this decision is finalized, it would result in the displacement of at least 200 employees, dealing a substantial blow to the country’s technological landscape and potentially affecting job prospects and innovation within the sector. According to sources within the industry who spoke to The Guardian newspaper on Tuesday, May 7, Microsoft notified its employees of the closure plans on Monday, May 6. Affected staff members are expected to receive salary payments until June and will continue to be covered by health insurance benefits. Insiders suggest that…
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Impeach Gov Fubara now – APC tells Rivers lawmakers
The Rivers State chapter of the All Progressives Congress (APC) has instructed members of the House of Assembly, under the leadership of Martin Amaewhule, to initiate impeachment proceedings against Governor Siminalayi Fubara. Tony Okocha, the Caretaker Committee Chairman of the party, issued this directive during a press briefing held in Port Harcourt on Tuesday, May 7. Okocha’s directive came in response to the governor’s recent statement asserting that “the Assembly members are no longer recognized by the law.” The governor and 27 Assembly members aligned with former governor Nyesom Wike have been engaged in a fierce standoff since an attempt…
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Cybersecurity Levy: Proof that the government is more interested in milking a dying economy instead of nurturing it to recovery – Peter Obi
Labour Party’s Presidential candidate in the 2023 general election, Peter Obi, has strongly criticized the Federal government’s decision to implement the Cybersecurity levy. In a statement issued today, May 8, Obi expressed his disapproval, stating that the “implementation of the Cybersecurity Levy is further evidence that the government prioritizes exploiting a struggling economy rather than fostering its recovery and development.” Obi contended that such policies would not only exacerbate poverty among citizens but also diminish the country’s economic competitiveness. The Central Bank of Nigeria instructed banks on Monday, May 6, to impose a 0.5% cybersecurity levy on certain customer transactions.…
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Cybersecurity levy: Let the Poor Breath – Seyi law tells Tinubu
Nigerian comedian Seyi Law expressed outrage over the recent introduction of a 0.5 percent cybersecurity levy by the Central Bank of Nigeria (CBN). The CBN directed banks to implement this levy on transactions. Seyi Law deemed the policy “unacceptable” and called on the CBN to reconsider it. Addressing President Bola Tinubu, he appealed for relief for the masses, questioning the delay in announcing and implementing the new minimum wage. Additionally, Seyi Law criticized the performance of certain ministers, highlighting the perceived lack of progress one year into the administration. On his X handle, Seyi Law wrote: “I hate when government…
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Atiku manipulating facts for his self-serving objective of discrediting the current administration – Presidency responds to Atiku’s criticism of Lagos-Calabar highway project
The presidency has responded to former Nigerian Vice President and presidential candidate of the PDP, Alhaji Atiku Abubakar’s assertions regarding the Lagos-Calabar highway construction, suggesting that it serves as a conduit for corruption due to Tinubu’s vested interests in it. Atiku, in remarks made on Sunday, questioned the legitimacy of the road project, alleging procedural irregularities and a rushed demolition process. He also claimed that Tinubu’s son, Seyi, held shares in a company owned by Chagoury, the proprietors of Hitech, the construction firm handling the Lagos-Calabar highway project. In a counterargument posted on Twitter today, May 6, Bayo Onanuga, the…
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Lagos-Calabar Highway is Tinubu’s personal business – Atiku
Atiku Abubakar, the Peoples Democratic Party (PDP) presidential candidate for 2023, has accused President Tinubu and his associates of personal interests in the Lagos-Calabar highway project. Atiku alleges a lack of proper bidding and notification before the contract award and demolition of properties for the project. He suggests this handling contributes to Nigeria’s struggle to attract foreign investment. Atiku claims Tinubu’s ties to the contractor and his son’s involvement in companies linked to the project present conflicts of interest. He stated, “The fact that President Bola Tinubu’s son and his surrogates are on the board of companies owned by Gilbert…
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CBN directs banks to charge 0.5% Cybersecurity levy
The Central Bank of Nigeria (CBN) has instructed deposit money banks across the nation to introduce a 0.5% cybersecurity levy on specific transactions conducted by their customers. The directive was dispatched to all commercial, merchant, non-interest, and payment service banks, as well as mobile money operators and payment service providers. The apex bank specified that the levy’s enforcement would commence two weeks from the circular’s issuance. “Following the enactment of the Cybercrime (Prohibition, Prevention, etc) (amendment) Act 2024 and pursuant to the provision of Section 44 (2) (a) of the Act, ‘a levy of 0.5% (0.005) equivalent to a half…
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FG reduces electricity tariff for ‘Band A’ Customers
The Federal Government announced the decrease in the electricity tariff for Band A customers. Previously, the Nigerian Electricity Regulatory Commission (NERC) mandated customers receiving a daily supply of at least 20 hours to pay N225/Kwh. However, following the approved review, Band A customers will now pay N206.80/Kwh. Ikeja Electric, in a notice to its customers on Monday, said ”Please be informed of the downward tariff review of our Band A feeders from N225/kwh to N206.80/kwh effective May 6, 2024, with guaranteed availability of 20–24 hours of supply daily.” The tariffs for Bands B, C, D, and E remain unchanged.”
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