Connect with us

COVER

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

Published

on

Share

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.

COVER

Police Arrests 42 Armed Bandits, Remands 10 Herders over Benue Killings

Published

on

Share

From Attah Ede, Makurdi

The Benue State Police Command said it has arrested 42 local armed bandits and herders across some communities in the state.The Commissioner of Police in the State, Ifeanyi Emenari, who disclosed this during his maiden media briefing held at the police officer mess Makurdi explained that those arrested were suspected to have been involved in the incessant killings going on in the state.

He pointed out that the armed Fulani herdsmen and bandits will face full trial.
According to Police Commissioner Emenari, most of the suspects were arrested upon his assumption of duty in the last one month.He maintained that the command had taken the fight to those responsible for the attacks and killings in Benue communities, stressing that tactical teams have already been drafted to flashpoints across communities in the state.
”I was posted to Benue State on the 24/04/2025 and assumed duty on the 26 April 2025. Upon assumption of duty, I step up strategic plans to tackle insecurity in the state.”I visited crisis areas such as Ankpali in Apa, Naka in Gwer West, Ayilamo in Logo, Amafu in Katsina-Ala, Ukum, Agatu, Udei, Yogbo in Guma Local Government Areas, and many others. I had discovered that farmlands have no farmers. Therefore, we have deployed our tactical teams to the areas and are now combing the communities in search of the killers.”We have a mandate to ensure that these communities are safe for the people to go back to their homes and engage in farming activities.”And in the last one month we have arrested 42 armed herdsmen and local bandits from these communities. Most of them have been charged to court.”We also have about 10 herdsmen who have been remanded by the courts in the course of their trial.”Apart from those already charged to court, there are others who are still being investigated and they would be charged to court at the end of investigations.””The command also recovered two AK47 rifles and 21 locally made firearms from the suspects. We had taken the fight to cult gangs in the state “that is why we have not witnessed or recorded cult related attacks in the state in the last one month since I assumed office.The kidnap incidents that happen regularly along Makurdi – Lafia federal highway have reduced drastically as we have arrested those perpetrating the acts and are currently in jail.”We have designed a plan to respond to any distress call within 30mns depending on the locations within the state”, Emenari added.The CP assured that the command would ensure that peace and security is restored to every nook and cranny of the state.He appealed to Benue people particularly in the rural communities and urban centres to cooperate with the police in its task of ensuring the security of lives and property in the state.He commended Governor Hyacinth Alia for his support to the Command, maintaining that his desire to ensure peace and security in the state would be achieved.”The entire governor wanted to make sure farmers go back to their farms and people are provided with adequate security to enable them to go on with their lawful business. We are ready to achieve that with the governor support”, he saidSimilarly, the Benue State Governor, Fr. Hyacinth Alia has reiterated that some politicians and “Religious bandits” are responsible for the needless crisis and aiding the killings of innocent people in the State.The Governor stated this while addressing the Pro-Tinibu group who staged a rally at the Government House Roundabout Makurdi, the state capital as part of the activities marking this year’s June 12 Democracy Day celebration.According to the Governor, “The Religious Bandits are the ones fuelling the insecurity situation being experiencing in the state.”They are doing this through their consistent rhetoric of unverified comments and distortion of facts.”There are some religious leaders I call ‘religious bandits’ who are fueling the bad situation we are experiencing here. And how do they support that, by their rhetoric. If you do not have the facts about Benue and Nigeria, shut up. Don’t just say something because you have the holy altar and oil to speak. Speak what you know and what can be verified.”There are some leaders who are fanning the embers of discord that peace should not return to the State.”We are still faced with insecurity as our people are killed unprovoked. We will take out this total menace and carnage of killings. We will not rest on our oars to ensure that total peace returns to Benue especially in the 6 LGAs that are in the frontline of insecurity.”Am confident that with the support of the President, we are going to get rid of insecurity completely in the State. Some traditional and religious leaders are also marching and fighting with us for peace to return to the State. Our people are suffering a lot and for some of us we have taken an oath to defend them and bring back peace”.”The day calls for sober reflection of how far the state and nation has journeyed in 26 years of uninterrupted democratic government, adding “We must pay tribute to the heroes who fought for democracy and sacrificed their lives for the unity of the country”Those heroes some are with us, others have gone to be with the Lord. They went through a lot including imprisonment, sacrificing for the unity of our country. It is not yet over for us. As we celebrate this day, people of conscience should note that what unites us is greater than what divides us. So, we must think positively for the State and the nation. We should have faith and hope for the nation.”Let us have a change of attitude and a different way of thinking. Let us sacrifice for the state and nation some more. Bring solutions to us and stop putting kerosene on fire. Let us know that Nigeria is our country and we can’t have another one.”Let us be our brother’s keeper. To the youths, a new Benue is possible and you are the new Benue. Let us do our best to ensure that Benue State is for prosperity and is secured. I am with the masses because they are with the people”, he stated.

Continue Reading

COVER

June 12: Tinubu, Opposition Leaders in War of Words

Published

on

Share

By Johnson Eyiangho, Eze Okechukwu and Johnson Eyiangho, Abuja

As Nigeria celebrated its 26 Democracy Day, former Vice President Atiku Abubakar has accused President Bola Tinubu of pursuing “conquest” not “governance,” alleging that Nigeria’s democracy is under threat from creeping authoritarianism, elite cronyism, and institutional subversion under the current administration.

In a strongly worded Democracy Day statement on Thursday, Atiku warned that the ruling All Progressives Congress (APC) is dismantling the democratic foundations hard-won since the historic June 12, 1993, election.
He described the current government as one that governs with the intent to dominate, subdue, and silence, adding that Nigeria is teetering on the edge of a “dangerous precipice.
”“The ruling party and its federal government now govern with the unmistakable intent to dominate, subdue, and silence,” he said.“Their tactics are not subtle. Opposition voices are being systematically erased. Contracts for multi-billion-naira infrastructure are funnelled to cronies and family associates of the president. National institutions, once symbols of unity, are being brazenly renamed in honour of a sitting president, as though the country were a private estate. What we are witnessing is not governance, it is conquest.“This government represents the lowest ebb in our democratic journey. Institutions have been weaponized. Policies are crafted not to empower the people but to entrench fear, obedience, and control. The common Nigerian has been abandoned at the altar of elite comfort. And make no mistake: this is the antithesis of everything June 12 stands for.”Recalling the sacrifices made during the June 12 struggle, including his own decision to step aside for the late MKO Abiola, Atiku lamented that the ideals for which many died—including Kudirat Abiola, Shehu Musa Yar’Adua, and Alfred Rewane—are being eroded.He emphasised that the battle for Nigeria’s democratic soul has reached another critical juncture, calling for a united opposition front not driven by the pursuit of power, but by a moral duty to rescue the country from despotism.“This is not just a political contest; it is a moral crusade,” Atiku said, urging Nigerians to rise in defence of democracy, justice, and national dignity.“As long as oppression thrives, June 12 lives on, not just as memory, but as movement,” he concluded.Democracy in Recession under Tinubu’s Rule – Peter ObiThe Presidential Candidate of the Labour Party (LP), in the 2023 election, Peter Obi, has said democracy has been in recession since President Bola Tinubu took over power two years ago.Obi said this in response to the speech delivered by the President to a joint session of the National Assembly in Abuja, on Thursday.According to him, after a comprehensive look at the two-year reign of President Tinubu, it was safe to conclude that a lot is not right in governance and policy delivery of the administration.The Ex-Anambra State Governor’s response was contained in a Democracy Day message titled:“Democracy in Decline: Reflecting on Two Years of Tinubu’s Governance.”Obi rated the Tinubu-led All Progressives Congress (APC) low in virtually all indices of governance including: corruption, prudence, economy insecurity and politics, during the period under review.The LP standard bearer noted that a lot is going wrong and called on the President to note that, “Governing by remote is not what Nigerians need, you need to go round and get firsthand.”He advised the President to stop touring outside Nigeria and use his remaining 2 years to tour the 36 Nigerian states instead.According to him, “Mr. President, you have already made over 30 international trips, spending nearly 150 days abroad. If you tour Nigeria’s 36 states and dedicate just 2 days to tour each state, it would take only 72 days for you to do so, less than half the time you have already spent in other areas of the country on foreign trips. You need to go around the country to see.”Addressing the challenge of deepening democracy, Obi appealed to President Tinubu, “to emulate late President Umaru Yar’Adua, who was honest enough to admit the process that brought him into office was wrong and not sufficiently credible,’ and insisted on rapidly doing what is right to save our democracy.”Obi recalled that President Goodluck Jonathan saved our nascent democracy by accepting defeat even before the election result, announced in the dark.OBI also painted a gory picture of power supply and unemployment, which he pointed out are getting worse while the government uses propaganda to paint a picture of the actual situation in the country.‘It’s a Pleasure to See You in Disarray,’ Tinubu Mocks PDP, LPPresident Bola Ahmed Tinubu has taken a swipe at opposition parties, declaring that it was a “pleasure” to witness the Peoples Democratic Party (PDP) and Labour Party (LP) in disarray.The president made the remarks on Thursday during a joint sitting of the National Assembly to mark this year’s Democracy Day, where he also welcomed defectors from the opposition into the All Progressives Congress (APC).“You are all welcome to the progressive fold. Nobody should close the door,” Tinubu said in a jab at the internal divisions plaguing opposition parties. “It is indeed a pleasure to witness you in such a disarray.”The president mocked parties that appear shaken by recent defections and political realignments, saying that rather than panicking, they should introspect.“Political parties fearful of members leaving may be better served by examining their internal processes and affairs, rather than fearfully conjuring up demons that do not exist,” he said.In a more sardonic tone, Tinubu added, “For me, I will not say, try your best to put your house in order. I will not help you to do so, either.”The comments came amid reports of growing cracks within both the PDP and LP, with several key members expressing dissatisfaction and exploring options with the ruling APC.Tinubu’s statement drew mixed reactions from lawmakers present at the session, with APC members applauding and opposition figures visibly displeased.President Tinubu has previously emphasised the importance of a strong opposition for democracy, but his latest comments suggest little sympathy for parties struggling to maintain internal unity.

Continue Reading

COVER

Aliko Dangote Steps Down as Chair of Dangote Sugar

Published

on

Share

Africa’s richest man, Aliko Dangote has stepped down as Chairman of the Board of Dangote Sugar Refinery Plc, marking the end of a two-decade leadership that transformed the company into a dominant force in Nigeria’s sugar industry.According to a corporate disclosure on Wednesday by the company’s Secretary, Temitope Hassan, Dangote’s retirement from the sugar company’s board takes effect from June 16, 2025Africa’s richest man, Aliko Dangote has stepped down as Chairman of the Board of Dangote Sugar Refinery Plc, marking the end of a two-decade leadership that transformed the company into a dominant force in Nigeria’s sugar industry.

Dangote has chaired the board since 2005, overseeing its significant growth and transformation, including major expansion projects and implementing best practices in corporate governance.
“In line with the principles of good corporate governance and succession planning, Dangote Sugar Refinery Plc hereby announces the retirement of our esteemed Chairman of the Board of Directors, Alhaji Aliko Dangote, effective June 16, 2025,” the statement said.Under his leadership, the company launched key Backward Integration Projects (BIP) in Adamawa, Taraba, and Nasarawa States to boost local sugar production and reduce Nigeria’s reliance on imports.Following a “rigorous selection and transition process,” the Board has appointed Mr. Arnold Ekpe, an Independent Non-Executive Director and former Group CEO of Ecobank, as the new chairman.We are pleased to announce the appointment of Mr. Arnold Ekpe as the new Chairman of Dangote Sugar Refinery Plc, effective June 16, 2025,” the statement added.Ekpe brings decades of experience in banking and corporate governance, with a strong track record in leading multinational institutions across Africa.The Board thanked Dangote for his exemplary leadership and unwavering commitment to the company’s vision.“We welcome Mr. Ekpe to his new role and look forward to the next chapter in our company’s journey under his leadership. We also express our deep appreciation to Alhaji Aliko Dangote for his years of outstanding service,” the statement stated. (NAN)

Continue Reading

Read Our ePaper

Top Stories

FEATURES1 minute ago

Why Genotype Compatibility Matters in Preventing Sickle Cell

ShareSickle Cell Disease (SCD) is a genetic blood disorder that arises when both parents carry the sickle cell gene, creating...

NEWS13 minutes ago

Police nab 4 Suspected Cultists, Recover Weapons in Delta

ShareThe Police Command in Delta says it has arrested four suspected cultists in the state.The spokesman for the command, SP...

CRIME14 minutes ago

Two Friends Jailed 12 Months Each for Stealing Clothes

ShareAn Area Court in Jos on Monday, sentenced to friends, Michael Auta and Gabriel Sunday to 12 months imprisonment each for  stealing  clothes  valued at...

Uncategorized18 minutes ago

FCCPC Summons Air Peace over Failure to Refund Ticket Fares

ShareThe Federal Competition and Consumer Protection Commission (FCCPC) has summoned the management of Air Peace Limited following myriad of consumer...

NEWS34 minutes ago

CAN Mourns Fr. Lubo, Hails His Legacy of Peace, Service

ShareBy Laide Akinboade, Abuja The Christian Association of Nigeria (CAN) on Monday, mourns the passing of Rev. Fr. Dr. Polycarp...

NEWS39 minutes ago

CAN Raises Alarm Over Benue Massacre

ShareBy Laide Akinboade, Abuja The Christian Association of Nigeria (CAN) on Monday, raised alarm over the continued horrific wave of...

Foreign News54 minutes ago

UN Chief Urges World Leaders to Act on Gaza Catastrophe

Share UN High Commissioner for Human Rights Volker Türk has issued an urgent appeal to governments worldwide to take action in...

Health1 hour ago

Contraceptive Pills Can’t Cause Cervical Cancer – Expert

ShareMrs Roseline Akinlabi, Adolescent and Youth Sexual Reproductive Health Desk Officer, Osun Primary Healthcare Board, says contraceptive pills cannot cause...

FEATURES2 hours ago

Tinubu’s Bold Development Agenda: Putting Youth First

ShareIn a bold step to equip young Nigerians with the skills, knowledge, and opportunities needed to thrive, President Bola Tinubu,...

NEWS5 hours ago

Plateau CAN Chairman, Lubo, Dies

Share Rev. Fr. Polycarp Lubo, the Chairman of the Plateau Chapter of the Christian Association of Nigeria (CAN), is dead.Lubo,...

Copyright © 2021 Daily Asset Limited | Powered by ObajeSoft Inc