Comedian Seyi Law knocks Tinubu government over Cybersecurity Levy
Comedian Seyi Law has taken to social media to knock the Tinubu administration over the new cyber security levy. The Central Bank of Nigeria (CBN) had issued a directive to all banks and financial institutions to implement a cybersecurity levy on banking transactions. This new levy, set at 0.5% of the value of all electronic transactions, was in response to the escalating concerns over cyber threats and follows the guidelines of the recently enacted Cybercrime (Prohibition, Prevention, etc.) (Amendment) Act 2024. Reacting to the development, Seyi Law wrote: “I hate when government agencies don’t speak up to the understanding of the citizens and allow wrong narratives to fester before tackling it. Cybersecurity level, according to the act, is 0.005%, and different figures from 0.5% to 3% are being thrown around. “A 0.5% charge in the Nigeria of today is in itself too much punishment on Nigerians. Are we trying to discourage banking transactions again and encourage cash keeping? @cenbank should revisit this abeg. “Stamp duty is something, and now this. It is unacceptable. @NGRPresident @officialABAT, let the poor breathe. When will the new minimum wage be announced and implemented? Some of your ministers need to look for another job. One year is here and we are counting”.
Senators’ Discontent Over Refurbished Chamber Echoes Amidst Senate Proceedings
Complaints by Senators on their refurbished Chamber continued Tuesday, a week after bickerings about sitting arrangements. Recall that Senate plenary was last week Tuesday, marred by complaints made by some senators on sitting arrangements in the renovated chamber. The complaints led to a rowdy session which lasted for about 15 minutes and eventually forced the Senate into executive session. A week later, issues on alleged inadequacies in the Chamber were again raised, specifically by the Whip of the Senate, Senator Ali Ndume (APC Borno South). Senator Ndume, who raised the issues through Order 42 of the Senate Standing rules, said what was supposed to be a Chamber has been turned into a conference hall, which, according to him, is not acceptable. “Mr. President, I rise to make disturbing observations on this supposedly renovated chamber through order 42 that deals with personal privileges. “Since day one, precisely last week Tuesday when we moved into this Chamber that was supposed to have been renovated, there have been complaints here and there. “First was on sitting arrangements, followed by echoing of voices by microphones that are even not audible. No voting device, required facilities not yet provided. “We need to correct all these anomalies for the Hallowed Chamber to be what it is supposed to be,” he said. Concurring to Ndume’s observations, the President of the Senate, Godswill Akpabio, in his response, said the observations were well noted and the point of order was upheld. He, however, explained to Ndume that complaints on sitting arrangements among Senators have been sorted out 99.9%, just as he reminded him that the contract for the renovation work was not done by the 10th National Assembly. “This is not our contract and not even National Assembly contract but that of the Federal Capital Development Authority (FCDA), the landlord of the National Assembly Complex. “Observations on inadequacies in the renovated chamber are welcome from time to time for required perfection but what we should be aiming at in the long run is for us, as federal lawmakers, to have proper autonomy on the National Assembly Complex and not continue as tenants of FCDA,” he said.
France Speaks On Plan To Set Up Military Bases In Nigeria
The French Government has said there are no discussions between France and Nigeria to establish military bases in the country. Recall that some eminent Northern leaders and Civil Society Organisations cautioned President Bola Tinubu against allowing the United States and the French governments to relocate their military bases from the Sahel to Nigeria. In a letter to Tinubu and the leadership of the National Assembly, the leaders urged the government to resist pressures from the US and France. They questioned the benefits of foreign military bases, particularly noting the lack of effectiveness in curbing terrorism in the Sahel region despite the presence of American troops and intelligence personnel in Niger. However, in an interview with The Punch, the Head of Communication at the French Embassy in Nigeria, Onyinye Madu, said there was no such plan to establish any military base in the country. Madu added that no discussions have taken place or are planned between France and Nigeria regarding the relocalisation of military bases. She said, “The French Embassy in Nigeria would like to point out that contrary to the claims made in the open letter quoted in the article, no discussions have taken place or are planned between France and Nigeria regarding the relocalisation of military bases.” Also, the Federal Government, on Monday, clarified that there were no discussions with foreign countries regarding the establishment of foreign military bases in Nigeria. The Minister of Information and National Orientation, Mohammed Idris, made the clarification in a statement he signed on Monday.
More Burden on Nigerians as the Central Bank Slams Another Tax on Bank Customers
It will seem like there may be no respite soon for the toiling mass of Nigerians as they continue to be bombarded by all manners of taxes, tariffs and levies by the government and service providers with the latest being the introduction of a 0.5 per cent “cybersecurity levy” by the Central Bank of Nigeria (CBN). Earlier in the day, First Bank Nigeria Plc led others in the reintroduction of two percent processing charge on deposits above N500,000 and three per cent charge on amounts above N3,000,000 for corporate customers. The reintroduction of these charges is coming about four months after the Central Bank of Nigeria suspended such charges for cash deposits above N500,000. In a circular signed by Chibuzor Efobi, Director of Payments System Management and Haruna Mustafa, Director of Financial Policy and Regulation, the CBN said collection of the new levy shall commence in two weeks from yesterday, May 6th, 2024 and it shall be remitted to the Office of the National Security Adviser (ONSA). Even though the apex bank was silent on the use into which the ONSA will put the proceeds of the new tax to be paid by bank customers, it explained that deduction and collection of the cybersecurity levy is consequent upon the enactment of the Cybercrime (Prohibition, Prevention etc) Amendment Act of 2024. It was explained in the circular that Section 44 (2)(a) of the Act, provides for the collection of “a levy of 0.5% (0.005) equivalent to a half percent of all electronic transactions value by the business specified in the second schedule of the Act, is to be remitted to the National Cybersecurity Fund (NCF), which shall be administered by the Office of the National Security Adviser (ONSA).” It was further stated that the CBN shall rely on commercial, merchant, non-interest and payment service banks, as well as mobile money operators for the collection of the levy. It also stated that any defaulting institution that fails to remit funds collected shall be liable to a fine of not less than two percent of the annual turnover of the defaulting business. “Deductions shall commence within two (2) weeks from the date of this circular for all financial institutions and the monthly remittance of the levies collected in bulk to the NCF account domiciled at the CBN by the 5th business day of every subsequent month,” the bank stated.
FG Registers New Trade Union
The Federal Government has registered a new trade union. This means that illegal price fixing and exploitation of customers in Nigerian markets may soon be a thing of the past. These are some of the roles members of the newly registered National Union of Market Trade of Nigeria are to perform as workers. At its executive inauguration, officials of both the Ministry of Labour and Employment, and, the Nigeria Labour Congress, NLC however told the new union to avoid clashes with related workers groups and government established agencies in the market. The National Union of Market Trade of Nigeria is the latest affiliate of the NLC and with this latest addition, the labour centre now has 46 affiliates.
FG, states will review sentencing for suicide attempt – AGF
The Attorney General of the Federation and Minister of Justice, Prince Lateef Fagbemi (SAN), has promised a review of the law imposing sentencing for suicide attempts. He gave the promise when he received a delegation from the Asido Foundation, a non-governmental organisation promoting mental health advocacy and reforms with a view to improving awareness, reducing stigma and discrimination and empowering persons with mental disorders and their families. In a statement signed by Kamarudeen Ogundele, S A to the President on Communications & Publicity, Office of the AGF, Sunday, the Minister said health is one of the priority areas of the administration of President Bola Ahmed Tinubu. “The law is something we have to take a second look at, especially where it is established that the offenders are not in the right state of mind. What the offenders need is pity, treatment and love so as to rid society of this kind of situation. “But whatever we do is not binding on the states. So, I will take the case to the Body of Attorneys General,” Fagbemi said. He promised to take up the issues around the Mental Health Act with his colleagues in the Federal Ministry of Health. Earlier, the founder of Asido, Dr Jibril Abdulmalik, sought the help of the AGF in reviewing the law sentencing people for attempted suicide and the implementation of the Mental Health Act signed into law by former President Muhammadu Buhari in January 2023. Abdulmalik said medical evidence had shown that all over the world, 80-90 percent of those who attempted suicide had background mental illness, especially depression. “It is because of sense of hopelessness that makes them get to the edge where they think they are better off dying. “In that situation what they need is help and treatment, not punishment and incarceration. We know the workload is heavy for our judicial officers…We don’t want them overburdened with cases that should ordinarily go to the hospitals,” he added.
Graduate unemployment: NYSC Trust Fund to the rescue – Senate
The chairman of the Senate Committee on Youth and Community Engagement, Yemi Adaramodu (APC, Ekiti South), said that the recently passed National Youths Service Corps Trust Fund Bill would provide jobs for graduates. Adaramodu disclosed this when he led a delegation of the committee on an official visit to the Oyo State NYSC Orientation Camp at Iseyin on Saturday. He said that the bill, having scaled first and second readings and other crucibles of legislation, will soon be sent to the President for assent. The lawmaker said that the provision of the bill was basically to ensure that corps members get established through the training acquired from the NYSC Skill Acquisition and Entrepreneurship Development, SAED, programme. He added that the provisions of the bill also cater to corps members who might wish to go into business after their service year. “The issue of unemployment and what next for corps members after the service year will be a thing of the past soon. The bill will ensure that the dreams of every Nigerian graduate become a reality,” he said. Adaramodu disclosed that the Senate, in collaboration with relevant government departments, agencies and other stakeholders, would soon work on the upward review of corps members’ allowances.
TCN Transfers Market and System Functions to Newly Established Entity
In a bid to revitalize Nigeria’s power sector, President Bola Tinubu, in collaboration with the Nigerian Electricity Regulatory Commission (NERC), has introduced sweeping reforms by unveiling the Nigerian Independent System Operator of Nigeria Limited (NISO). This significant restructuring marks a pivotal moment for the country’s energy landscape. The decision was formalized through an official order signed by TCN’s Chairman, Mr. Sanusi Garba, and Vice Chairman, Mr. Muslim Oseni, in Abuja on Saturday. Under the directives outlined in the order, TCN will undergo a comprehensive transfer of all market and system operation functions to the newly established NISO. This realignment of responsibilities is in accordance with the stipulations set forth in the Electricity Act 2023, aimed at providing a more streamlined approach to the management of Nigeria’s power infrastructure. Previously, TCN held critical licenses, including Transmission Service Provider (TSP) and System Operations (SO) licenses issued by NERC. With the inception of NISO, TCN will divest its market and system operation assets and liabilities to the newly formed entity, allowing for a sharper focus on its core transmission functions. To facilitate this transition, the Bureau of Public Enterprises (BPE) has been tasked with overseeing the incorporation of a private company limited by shares under the provisions of the Companies and Allied Matters Act (CAMA) by May 31. This entity, named the Nigerian Independent System Operator of Nigeria Limited (NISO), will assume full responsibility for market and system operation functions as outlined in the Electricity Act and TCN’s system operation license. NISO’s mandate encompasses the efficient management of assets and liabilities associated with market and system operations on behalf of market participants and consumer groups. Furthermore, the newly established ISO will play a crucial role in negotiating contracts for ancillary services with independent power producers and generation licensees, ensuring the stability and reliability of Nigeria’s national grid.
It’s the people’s turn in Abia; Politicians have enjoyed enough – Otti
Governor Alex Otti of Abia State, has declared that the State under his watch, is the turn of the masses to enjoy the dividends of democracy, arguing that politicians who presided over the affairs of the state since the return of democracy in 1999, have helped themselves enough with the common patrimony. Otti who made the declaration while hosting a delegation of the Course 17, Syndicate 2 of the National Institute for Security Studies, Abuja, at Government House Umuahia, said he was on a mission to make the masses and not just a handful of privileged politicians, have a taste of good governance. The governor told his audience that his recent decision to wipe off backlog of pension arrears owed retirees since 2014 was a demonstration of his passion for the masses, who had been shortchanged by the ruling elite. He said that “never again shall Abia pensioners be owed their pension”, adding that he had also directed that they be paid along with workers on the 28th of every month, a directive, he affirmed, had taken effect from April. “This is the people’s time, politicians have helped themselves enough for the past 24 years”, Otti thunderered.
Court bars Kano DisCo from implementing new tariff
A Federal High Court in Kano has issued an order restraining the National Electricity Regulatory Commission and the Kano Electricity Distribution Company from implementing the new electricity tariff for Band A consumers. The suit marked FHC/KN/CS/144/2024 was filed by Super Sack Company Limited and BBY Sacks Limited. Others are Mama Sannu Industries Limited, Dala Foods Nigeria Limited, Tofa Textile Limited, and Manufacturers Association Of Nigeria Limited. However, ruling on an ex-parte motion by Abubakar Mahmoud, counsel to the plaintiffs, the presiding judge, Abdullahi Liman, ordered NERC and KEDCO from going ahead with the impending tariff pending the hearing and determination of the motion on notice filed before it. The order also restrained the defendant from intimidating and threatening to disconnect the applicants’ electricity supply for non-acceptance of the new increased tariff. Recall that in April, NERC approved an increase in electricity tariff for customers under the Band A classification. With the new tariff, customers under the category, who receive 20 hours of electricity supply daily, would begin to pay N225 per kilowatt, starting from April 3 — up from N66. The sudden hike has since been criticized by the House of Representatives and other stakeholders who have asked NERC to suspend the implementation of the new tariff.