In an effort to bolster protection and inclusion for women, children, and persons living with disabilities, President Bola Tinubu is set to unveil a series of initiatives on Wednesday, March 7. Among these are the Integrity Brigade, Mobile Court, and an E-portal Market for Women, generously supported by the European Union .In an effort to bolster protection and inclusion for women, children, and persons living with disabilities, President Bola Tinubu is set to unveil a series of initiatives on Wednesday, March 7. Among these are the Integrity Brigade, Mobile Court, and an E-portal Market for Women, generously supported by the…
Author: Editor Francis
The Central Bank of Nigeria (CBN) has unveiled a comprehensive Cybersecurity Framework and Guideline designed to enhance the management of technology platforms and infrastructure utilized by Deposit Money Banks (DMBs) and Payment Service Banks (PSBs). In a communique addressed to all DMBs and PSBs and signed by the Acting Director of Banking Supervision, Dr. Adetona Adedeji, the CBN emphasized the critical role of information technology in facilitating financial transactions and customer services within the banking sector. The apex bank highlighted the necessity of effectively managing technology infrastructure to safeguard information assets, ensure confidentiality, integrity, and availability, and mitigate financial loss…
The Federal Government has implemented a mandatory annual levy targeting organizations hiring expatriate workers. Under the new policy, companies are required to pay $15,000 (£12,000) for employing a director and $10,000 for other expatriate employees The initiative aims to incentivize foreign companies to hire more Nigerian workers, with exemptions granted to diplomatic mission staff and government officials. President Bola Tinubu emphasized that while the levy aims to boost revenue and promote indigenization, it should not deter potential investors. Speaking at the launch of the Expatriate Employment Levy (EEL) handbook, Tinubu stressed the goal of narrowing wage disparities between expatriates and…
The Nigerian Communications Commission (NCC) has upheld its decision not to extend the deadline for the linkage of Subscriber Identity Module (SIM) cards to National Identification Numbers (NIN), despite a court injunction restraining telecom operators from deactivating or barring any line or SIM not linked to their NINs. The directive, which came into effect on February 28, 2024, has resulted in telecom companies being directed to deactivate approximately 12 million lines that have not been linked to their owners’ NINs. Reuben Mouka, the Director of Public Affairs at NCC, confirmed the agency’s stance, emphasising that no extension had been granted…
In a significant move towards addressing the longstanding call for restructuring in Nigeria, President Bola Tinubu has reiterated his administration’s dedication to implementing necessary reforms. This affirmation came during a visit to Pa Reuben Fasoranti, the National Leader of Afenifere, a prominent Yoruba socio-political organisation, in Akure, Ondo State. Following a closed-door meeting with key leaders of Afenifere, Tinubu’s stance on restructuring was conveyed by Mr. Jare Ajayi, the National Publicity Secretary of the group. Ajayi quoted Tinubu as emphasising the importance of laying a solid foundation before initiating restructuring, cautioning against hasty implementation that could lead to instability. Tinubu…
In a heated debate, the Federal Government and workers’ representatives have found themselves at odds regarding the implementation of the long-awaited Steve Oronsaye report. The report, aimed at rationalising government agencies and parastatals, has sparked concerns over potential job losses in the country. While the Federal Government has sought to allay fears of mass layoffs, asserting that the primary goal is to enhance efficiency in service delivery and reduce costs, workers’ unions have vehemently opposed the move, warning of significant job losses. Despite the government’s reassurances, the Labour Party’s 2023 presidential candidate, Mr. Peter Obi, has endorsed the government’s stance,…
The Nigerian Senate has moved forward with a significant bill aimed at reforming the Central Bank of Nigeria Act, 2007. Sponsored by Senator Adetokunbo Abiru of Lagos East, along with 41 co-sponsors, the bill proposes substantial changes to enhance the effectiveness and governance of the central bank. Key provisions of the bill include: 1. Single Non-Renewable Term for CBN Leadership: The bill suggests instituting a single non-renewable term of six years for the governor and deputy governors of the Central Bank of Nigeria, aligning with global best practices observed in institutions like the US Federal Reserve and the European Central…
In a recent announcement, Air Peace unveiled its new pricing structure for flights to London, aimed at making travel more accessible. Effective March 30, the airline will offer economy class tickets for the London route at N1.2 million, significantly lower than the current range of N2.3 million to N4.2 million. Additionally, business class tickets will be available for N4 million, marking a notable reduction from the previous rate of N6 million. The airline’s Corporate Communications Lead, Mr. Stanley Olisa, emphasized the affordability of these fares, stating that they are committed to “crashing the price of flight tickets” for travelers. Flight…
In response to the concerning escalation of drug prices in Nigeria, Prof. Muhammad Pate, the Coordinating Minister of Health and Social Welfare, announced that the Federal Government is set to issue an executive order aimed at curbing the soaring costs of pharmaceuticals. Prof. Pate disclosed this during the third edition of the ministerial press briefing series initiated by the Ministry of Information in Abuja. The executive order, identified as a short-term measure, is part of the government’s broader strategy to tackle the issue. Prof. Pate outlined mid to long-term goals, which include the domestication of imported drugs within the…
In a bid to tackle the critical shortage of healthcare professionals in Nigeria, the Coordinating Minister of Health and Social Welfare, Prof. Alli Pate, revealed that the Federal Government has recently recruited 2,497 doctors, midwives, nurses, and Community Health Extension Workers (CHEWs), over the past six months. Prof. Pate made this announcement during the third edition of the ministerial press briefing series initiated by the Ministry of Information in Abuja. The recruitment drive comes amidst a concerning trend of medical professionals leaving the country, with factors such as poor remuneration, rising insecurity, inadequate facilities, and economic conditions contributing to the…
In a significant development, the African Export-Import Bank (Afreximbank) has revealed its pivotal role as the largest financier of oil and gas projects across the African continent. With a substantial investment totaling $30 billion in industry ventures, Nigeria has emerged as the primary beneficiary, receiving 60 percent of the funding despite a decline in global financial support for hydrocarbon initiatives in Africa. Addressing the audience at the ongoing Nigeria International Energy Summit in Abuja, Prof. Benedict Oramah, President of Afreximbank, emphasized the urgent need for innovative solutions to address Africa’s substantial energy deficit. Represented by Mr. Haytham ElMaayergi, Executive Vice…
In Michigan’s Democratic nominating contest on Tuesday, Arab-American activists who backed him in 2020 have vowed to withhold their support, urging primary voters to check “uncommitted” at the ballot box in an early litmus test for how Biden’s handling of Gaza could hurt him in the swing state. Hoping to address their frustrations, Biden administration officials met on Feb. 8 with Arab-American community leaders in Michigan, and held an additional, previously unreported meeting in the state, said two sources with direct knowledge of the meeting. Reuter Report that Participants were asked not to make details public. Administration officials discussed humanitarian…