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2023 Polls:PDP Alleges APC Plans to Influence Outcome of Petitions at Tribunal

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By Johnson Eyiangho, Abuja

The Peoples Democratic Party (PDP) has raised alarm over alleged plans by the All Progressives Congress (APC) to influence the outcome of the petitions before the Presidential Election Petition Tribunal.

 National Publicity Secretary of the PDP, Hon.

Debo Ologunagba, raised the alarm at a news conference, yesterday.

Ologunagba further alleged that some APC’s chieftains in recent times have been intimidating, harassing, threatening and attacking youths and eminent Nigerians for speaking against its (APC) planned moves to install a government that does not enjoy the mandate of majority of Nigerians as expressed at the Polling Units.

“The alleged planned onslaught by APC leaders on eminent Nigerians and our democratic institutions, including the Judiciary, stems from APC’s apprehensions given the weight of evidence against it as well as the continuing refusal by majority of Nigerians to accept the outcome of the flawed Presidential election.

“There are apprehensions in the public space, having regards to the reputation of certain individuals within the highest level of the APC who have demonstrated capacity and proclivity to compromise democratic institutions in our country,’’ he said.  

He added, “More alarming are allegations in the public space of attempts by certain APC leaders to compromise the judiciary with heavy financial inducement and to orchestrate trumped-up allegations of impropriety against judicial officers. 

“The PDP calls on the APC and its leaders to immediately come clean and publicly address Nigerians and the world on these disturbing allegations and revelations which are already in the public domain.

“Further to this is the provocative resort by the APC and its leaders to threaten Nigerians with treason for speaking out against the manipulations of our democratic processes by the APC.

“For emphasis, majority of Nigerians are insisting on the review of the February 25, 2023 Presidential election because it was marred by wide-spread manipulations, open alteration of genuine election results from the Polling Units, allocation of fictitious figures to the APC and brazen violation of the provisions of the Constitution of the Federal Republic of Nigeria 1999 (as amended), the Electoral Act, 2022 as well as INEC Manual and Guidelines by INEC itself in its declaration of a winner of the election.’’

According to him, the bizarre response by INEC, which is an umpire that ought to be independent, to the Petition of the PDP and our Candidate, Atiku Abubakar, requesting for the dismissal of our Petition, is further evidence of the complicity, corruption and compromise of INEC by the APC.

The PDP scribe said it was instructive for INEC and the APC to note that the tribunal hearing is part of the electoral process and called on the APC and INEC to halt further steps to hinder the ability of the Presidential Election Petition Tribunal to dispense justice in the matter in accordance with the law

He also called on the Judiciary to resist and insulate itself from the alleged and reported antics of the APC in the discharge of its Constitutional duties as independent and impartial arbiter in the pending Petition before the Presidential Election Petition Tribunal.

“It is imperative to state that the reckless violation by INEC of the Constitution of the Federal Republic of Nigeria, 1999 (as amended), the Electoral Act, 2022, INEC Guidelines and Manual in the 2023 Presidential election portend grave consequences to our democracy and political stability as a country.

“The only way to guarantee peace, unity and stability of our nation is to uphold the Will of the people as expressed at the Polling Units in the February 25, 2023 Presidential election and the PDP is confident in the ability of the Judiciary to discharge its Constitutional duties in this regard independently,’’ he said.

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Senate Investigates $18.5bn Abuja Centenary City Project

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By Eze Okechukwu, Abuja

Senate yesterday set up a seven-member ad-hoc committee to investigate the circumstances surrounding the lack of completion of the $18.5billion Abuja Centenary Economic City project, a decade after commencement.The Upper Chamber tasked the committee to review the original Public Private Partnership agreement and recommend amendments if necessary to facilitate the smooth and expeditious completion of the project.

The Senate also urged the Federal Government to prioritise the revival of the Centenary City project by providing appropriate support, resolving regulatory issues and addressing any other impediments, given its beneficial potential to the economy and people of Nigeria after 10 years of stalled progress.
The resolutions of the senate followed its consideration of a motion titled: “Urgent need to revive and complete the stalled Centenary City Project, to realise its economic and development potential” during plenary yesterday.The motion was sponsored by the Deputy Senate Leader, Senator Ashiru Yisa (APC – Kwara South).Senator Yisa in his lead debate urged colleagues to note that the Abuja Centenary Economic City project commenced in 2014 through a public private partnership to develop a modern city in the mood of Dubai, to commemorate 100 years of Nigeria’s amalgamation celebration.The Abuja Centenary Economic City Project was to be built according to the model and standard of global smart cities like Dubai, Monaco and Singapore.President Goodluck Jonathan laid foundation for the project on February 27, 2014 with a funfare.After Jonathan was defeated in the 2015 general elections, the succeeding Muhammadu Buhari administration put a halt to the project.The project driven by private investors was launched to mark the 100th anniversary of Nigeria costing $18b with 10–15 years completion period.

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CBN Gives POS Operators July 7 Deadline to Register with CAC

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By Tony Obiechina, Abuja

The Central Bank Of Nigeria (CBN) has issued a July 7, 2024 deadline for Point of Sales (PoS) operators to complete registration with the Corporate Affairs Corporation (CAC).This was revealed during a meeting between Fintechs and the Registrar-General/Chief Executive Officer (CAC) Hussaini Magaji (SAN) in Abuja on Tuesday.

Speaking at the event, the CAC boss said the two-month timeline to register their agents, merchants, and individuals with the commission, was “in line with legal requirements and the directives of the Central Bank of Nigeria”.
“The measure aims at safeguarding the businesses of Fintech’s customers and strengthening the economy,” a statement titled ‘CAC, PoS Operators Agree to Two-Month Deadline to Register Their Agents and Merchants to Strengthen the Fintech Industry”, the CAC added.
He stressed that the action was equally backed by Section 863, Subsection 1 of the Companies and Allied Matters Act, CAMA 2020, and the 2013 CBN guidelines on agent banking.Magaji explained that the timeline for the registration which will expire on July 7, 2024, was not targeted at any groups or individuals but aimed at protecting businesses.Several speakers from the Fintech industry pledged to collaborate with the commission to ensure hitch-free implementation of the directive.Some of them, however, stressed the need for adequate and collective sensitisation, to ensure that the exercise achieved the desired results.The Special Adviser to the President on ICT Development and Innovation, Tokoni Peter, in his remarks, pledged to ensure smooth facilitation of the process in line with the Renewed Hope Initiative of the present administrationThe representatives of Opay, Momba, Palmpay Ltd, Pay Stack, Fair Money MFB, Monie Point, and Teasy Pay present at the event, later signed up for a document to support the project.

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CBN Exempts Salaries, Loans, Pensions, Donations from Cyber Security Levy

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By Tony Obiechina, Abuja

Central Bank of Nigeria (CBN) has exempted 16 items from the 0.5 per cent Cybersecurity levy on all electronic transactions.CBN had directed banks to begin charging 0.5% cybersecurity levy on transactions as part of efforts to contain the rising cybercrime threats in the financial system.

According to the Apex Bank, deducted funds will be remitted to the National Cybersecurity Fund (NCF), which shall be administered by the Office of the National Security Adviser (ONSA).
A circular released by the CBN on Monday directed all commercial, merchant, non-interest and payment service banks to comply with the directive.The circular revealed that it was a follow-up on an earlier letter dated June 25, 2018 (Ref: BPS/DIR/GEN/CIR/05/008) and October 5, 2018 (Ref: BSD/DIR/GEN/LAB/11/023), in compliance with the Cybercrimes (Prohibition, Prevention, Etc.
) Act 2015.Following the enactment of the Cybercrime (Prohibition, Prevention, etc) (amendment) Act 2024 and under the provision of Section 44 (2)(a) of the Act, a levy of 0.5 per cent (0.005) equivalent to half per cent 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, which the Office of the National Security Adviser shall administer.The exemptions included loan disbursements and repayments, salary payments, intra-account transfers within the same bank or between different banks for the same customer, intra-bank transfers between customers of the same bank, and Other Financial Institutions (OFIs) instructions to their correspondent banks.The exemption also applies to interbank placements, banks’ transfers to CBN and vice versa, inter-branch transfers within a bank, cheque clearing and settlements, and Letters of Credit (LCs).Others include banks’ recapitalisation-related funding only bulk funds movement from collection accounts; savings and deposits including transactions involving long-term investments such as treasury bills, bonds; and commercial papers; government social welfare programmes transactions, e.g. pension payments; non-profit and charitable transactions including donations to registered non-profit organisations or charities; educational institutions transactions, including tuition payments and other transaction involving schools, universities, or other educational institutions.Transactions involving the bank’s internal accounts, such as suspense accounts, clearing accounts, profit and loss accounts, inter-branch accounts, reserve accounts, nostro and vostro accounts, and escrow accounts, are also exempt from the levy.The central bank warned that Section 44 (8) of the Act prescribes that failure to remit the levy constitutes an offence punishable on conviction by a fine of not less than two percent of the defaulting business’s annual turnover, among other things.

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