News - Page 348

Africa

CBN’s Cybersecurity Levy Sparks Reactions From Nigerians

SERAP, BugiT, 136 Nigerians, Sue Nigerian Govt Over Cybersecurity Levy

SERAP, BudgIT and 136 concerned Nigerians have filed a suit against the Nigerian government over the plan to commence the collection of cybersecurity levy from bank customers across the country.

Victor Ezeja

May 12, 2024

News

Rick Slayman, First Human To Receive Pig Kidney Transplant, Dies 2 Months Later

Rick Slayman, the first human to receive a genetically modified pig kidney transplant, has passed away in the United States, the Associated Press reported.

John Adoyi

May 12, 2024

News

Prince Harry, Meghan Fly Air Peace As Onyema, Military, Others Welcome Royal Couple

Duke and Duchess of Sussex, Prince Harry and Meghan, flew Air Peace from Abuja to Lagos on May 12, 2024, as part of the royal couple's three-day visit to Nigeria.

Admin

May 12, 2024

Cybersecurity Levy: Tinubu Suspends Implementation, Orders Review President Bola Tinubu has directed the Central Bank of Nigeria (CBN) to suspend the implementation of the controversial cybersecurity levy policy, which aimed to charge 0.5% on all electronic transactions. The move follows the House of Representatives' resolution asking the CBN to withdraw its circular directing banks to commence charging the levy. The CBN had issued a circular on May 6, mandating banks, mobile money operators, and payment service providers to implement the levy, as provided for in the Cybercrime (Prohibition, Prevention, etc) (Amendment) Act 2024. However, the policy sparked varied reactions among stakeholders, with many expressing concerns that it would increase the cost of doing business in Nigeria and potentially hinder digital transaction adoption. Tinubu's decision to suspend the implementation and order a review is seen as a welcome development by many, including the Peoples Democratic Party (PDP), which described the policy as "anti-people" and "insensitive." The Centre for Promotion of Private Enterprises (CPPE) commended the President for listening to the voices of the people, while the Director of Centre for Anti-corruption and Open Leadership (CACOL) urged the Federal Government to consider a total cancellation of the policy instead of a temporary suspension. The Socio-Economic Rights and Accountability Project (SERAP) had threatened to file a lawsuit if the Federal Government did not withdraw the levy within 48 hours, stating that it violates the Nigerian constitution and international human rights obligations. The Nigeria Labour Congress (NLC) also rejected the levy, demanding its reversal and prioritizing policies that alleviate the financial burdens of Nigerians. The development highlights the need for inclusive and consultative policy-making, ensuring that the voices of all stakeholders are heard and considered. As the review process commences, it is essential to prioritize the interests of Nigerians and promote policies that foster economic growth and development.

Business·News

Tinubu Orders CBN To Suspend Cybersecurity Levy Policy

President Bola Tinubu has intervened in the implementation of the controversial cybersecurity levy, ordering a suspension and review. The move comes after the House of Representatives called for a withdrawal of the

Emmanuel Ochayi

May 12, 2024

PDP Condemns Sack Of Abia Civil Servants By Otti

News·Politics

PDP Accuses Otti Of Deceiving Abia People About Pension Arrears

PDP Abia State Chapter has accused the state Governor, Dr Alex Otti, of deceiving the people about the clearing arrears owed pensioners in the state.

Admin

May 12, 2024

News·Sports

Premier League: Aina Keen To Face Former Side Chelsea

Super Eagles defender Ola Aina is looking forward to Saturday's Premier League meeting with his boyhood club Chelsea and insists there's is no animosity towards the club.

Izuchukwu Okosi

May 11, 2024

News

252 Bag First Class As UNN Holds 52nd Convocation Ceremony

Not fewer than 252 graduands bagged first honours during 52nd convocation ceremony of the University of Nigeria Nsukka (UNN).

Judith Donatus and Jubilate Esogwa

May 11, 2024

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 28th April 2025

Business·Currency·News

Naira Continues Depreciation, Nears ₦1,500/$1 At Black Market

Nigerian currency the naira continued depreciation in the foreign exchange market last week, closing trading at almost ₦1,500 at the parallel market.

Victor Ezeja

May 11, 2024

Business·News

Charge In Naira: EFCC Stops Embassies From Dollar Transactions

The Economic and Financial Crimes Commission (EFCC) has taken a firm stand against the use of foreign currencies, particularly the US dollar, by foreign missions operating in Nigeria. In an advisory to

Emmanuel Ochayi

May 11, 2024

Naira vs Dollar: What To Expect This Week (24th-30th, March 2025)

Business·Markets·News

How Naira Drops From Best Performing Currency To worst In The World

In April, the naira took a steep dive, ranking as the worst-performing currency globally, according to a Bloomberg report. This unexpected shift has sparked concerns, particularly in Nigeria’s financial circles, as the

Emmanuel Ochayi

May 11, 2024

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News - Page 348

SERAP, BugiT, 136 Nigerians, Sue Nigerian Govt Over Cybersecurity Levy

Rick Slayman, First Human To Receive Pig Kidney Transplant, Dies 2 Months Later

Prince Harry, Meghan Fly Air Peace As Onyema, Military, Others Welcome Royal Couple

Tinubu Orders CBN To Suspend Cybersecurity Levy Policy

PDP Accuses Otti Of Deceiving Abia People About Pension Arrears

Premier League: Aina Keen To Face Former Side Chelsea

252 Bag First Class As UNN Holds 52nd Convocation Ceremony

Naira Continues Depreciation, Nears ₦1,500/$1 At Black Market

Charge In Naira: EFCC Stops Embassies From Dollar Transactions

How Naira Drops From Best Performing Currency To worst In The World

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