The Socio-Economic Rights and Accountability Project (SERAP) has given the Tinubu-led administration 48 hours to withdraw the cybersecurity levy directive issued by the Central Bank of Nigeria (CBN).
Naija News reports that CBN had issued a new directive to all financial institutions, including commercial, merchant, non-interest banks, payment service banks, and mobile money operators, mandating the implementation of a 0.5% cybersecurity levy on all electronic transactions.
This move is in line with the provisions of the recently amended Cybercrime (Prohibition, Prevention, etc.) Act 2024.
The directive, detailed in a circular, instructs that the levy be applied at the point of electronic transfer origination, with the deducted amount to be reflected in the customer’s account as a “Cybersecurity Levy.”
Financial institutions are required to start deductions within two weeks from the date of the circular and remit the accumulated levies monthly to the National Cybersecurity Fund (NCF), which is administered by the Office of the National Security Adviser (ONSA).
In response to the directive, SERAP took to its X handle to demand the withdrawal of the directive.
SERAP demanded the CBN directive’s immediate withdrawal, implementing a 0.5% cybersecurity levy, threatening legal action if not withdrawn within 48 hours.
In the statement, SERAP wrote: “The Tinubu administration must immediately withdraw the grossly unlawful CBN directive to implement section 44 of the Cybercrime Act 2024, which imposes a 0.5% ‘cybersecurity levy’ on Nigerians.
“We’ll see in court if the directive is not withdrawn within 48 hours.”
The Lagos State Government has justified its reason for deporting some youths believed to be Osun indigenes back to their home state.
Naija News learned that several luxury buses over the weekend dropped off hundreds of young individuals at different locations in the Ilesa area of the state over the weekend, following claims of rounding them up from various parts of Lagos state.
In a statement on Sunday, the Lagos Commissioner for Information and Strategy, Gbenga Omotoso, said some of those relocated were miscreants arrested in the state who pleaded to be relocated to their home state due to their current situation.
Omotosho said 450 miscreants were arrested under the Dolphin Bridge at the weekend and 371 pleaded for assistance to relocate to their various states due to the hardship they are facing in Lagos.
The commissioner added that 79 persons have been absorbed into some government facilities for rehabilitation due to their medical state.
He said the ongoing operation was undertaken by the government to tackle the security risk in Lagos caused by the influx of miscreants, beggars, and the destitute in different parts of the state.
The statement reads, “The statewide exercise to free Lagos of visible security risks has continued after the arrest of some suspects under the Dolphin Estate bridge.
“The ceaseless influx of miscreants, beggars, and the destitute onto Lagos streets has raised fears of insecurity of lives and property. This is unacceptable.
“As part of the exercise, 450 miscreants were at the weekend rescued. Of the lot, 371 pleaded for assistance to relocate to their various states due to the hardship they are facing in Lagos; 79 have been absorbed into some government facilities for rehabilitation after showing signs of being unwell.
“The exercise will continue as part of the government’s responsibility to keep our citizens safe and secure.”
Nigeria Labour Congress, NLC, and its Trade Union Congress of Nigeria, TUC, counterpart, have given the Nigerian Electricity Regulatory Commission, NERC, till May 12 to withdraw the recent hike in electricity tariff or face unprecedented industrial action.
The ultimatum was issued in a joint letter to the Chairman/Chief Executive Officer, CEO, dated May 3, 2024, and copied to the Secretary to the Government of the Federation, SGF, the Ministers of Labour and Power and the electricity distribution companies, DisCos, among others, Joe Ajaero and Festus Osifo, President of NLC and its TUC’s counterpart.
The letter read: “This is to refer you to our May Day address where we expressed grave concerns regarding the recent announcement of an astronomical hike in electricity tariff across the nation from N65/kWh to N225/Kwh by your commission.
‘’We believe that this decision is not just morally reprehensible considering the difficulties Nigerians are faced with currently, but it blatantly disregards fundamental principles and statutory obligations.
‘’It is a slap in the face of justice and fairness, and we will not stand idly by as the masses and workers are subjected to such unacceptable exploitation.
“As the regulator of the electricity sector, it is imperative that your commission grasps the weight of its responsibilities. NERC’s role entails the regulation of electricity tariffs in the country, a duty outlined in explicit detail within the statutes governing the commission.
‘’Yet, with this recent tariff hike which you have acquiesced, it is evident that the Commission has forsaken its duty and abandoned the people it was meant to protect to the fat cats in the electricity industry.
“We are miffed that NERC has become a tacit collaborator in crafting the oppressive pricing regime being perpetuated against Nigerian workers and people. The Laws that set up the commission mandate it to act as an unbiased ombudsman in the electricity industry. ‘’Unfortunately, the reverse is the case as it has acted in cahoots with the Distribution Companies, DisCos and the Generating Companies, GenCos, to promote their nefarious market practices.
“The announced tariff hike not only defies the established procedure mandated by law but also tramples upon the rights of Nigerian citizens. It is a flagrant abuse of power and a clear violation of the trust bestowed upon your commission by the Nigerian people. Such actions will not be tolerated, and we refuse to accept them as the new norm.
“Nigerian workers and masses led by the Nigeria Labour Congress, NLC, and the Trade Union Congress of Nigeria, TUC, stand united in denouncing this injustice. We must defend the rights of our fellow citizens against exploitation.
“Therefore, we demand an immediate reversal of the hike in electricity tariff to N65/kwh, immediate cessation of the discriminatory practice of segregating electricity consumers into arbitrary bands, and restoration of the supremacy of the statutes governing the conduct of operators within the electricity industry.
“We give you until Sunday, May 12, 2024, to comply. Failure to do so will result in swift and decisive action on our part as we will not hesitate to mobilize our members and occupy all NERC’s offices and those of the DisCos nationwide until justice is served.”
• It’s welcome, say Reps, Muda Yusuf
The Trade Union Congress (TUC), electricity workers, and consumers yesterday described as ‘negligible,’ the 8.1 per cent reduction in the tariff paid by Band A customers.
They called for a reversal of the tariff announced last month by the Nigeria Electricity Regulatory Commission (NERC) for Band A customers, saying there should not be segregation of electricity users.
The House of Representatives and Center for the Promotion of Private Enterprise (CPPE) Chief Executive Officer Muda Yusuf, however, described the review as a step in the right direction.
NERC which is the regulator of the nation’s electricity sector, had in a statement yesterday directed the 11 electricity Distribution Companies (DisCos) in the country to reduce Band A tariff from N225/kWh to N206.8/kWh for this month.
The DisCos immediately started complying with the order which NERC explained was primarily informed by the stability of the Naira against foreign currencies.
When the commission upped the tariff paid by customers on Band A feeders last month, it cited variables like the high cost of gas, prevailing exchange rate, and other macroeconomic factors as reasons.
However, there was an uproar over the adjustments from different quarters.
Yesterday, TUC which is the umbrella body of senior workers, said pre-April tariff of N66/KWh should be restored while NERC engages with stakeholders .
The union had during the May 1 Workers Day celebration, issued NERC a one- week ultimatum to return the tariff to the old price of N66/KKWh . The ultimatum expires today.
“Our ultimatum was very clear: revert to the old N66/KKWh not to reduce. Because the Electricity Act is very clear there should be stakeholders’ engagement. That was not done.
“ NERC has to revert to the old tariff and let there be stakeholders engagement in line with the provisions of the Electricity Act. So reducing it is unacceptable to us,” said TUC’s Deputy President Tommy Okon.
Also, National Union of Electricity Employees (NUEE) Ag. General Secretary Dominic Igwebike, said: ‘’We are asking for total reversal of the tariff for band A customers.’’
‘’To us as electricity workers, there should be no discriminatory tariff for Nigerians, “ added in a text message.
Consumers under the aegis of the Association for Public Policy Analysis (APPA), argued that the new rate of N206.80/kwh ‘’does not make any difference.’’
They wondered whether or not the reduction was enough incentive for manufacturers to remain in business or reduce the costs of their goods.
“Reducing it (tariff) what is the difference? N225, you are now reducing to N206.80. Industries are dying. What we should be asking is that this amount they are putting now, will it make the industry functional? Will it make the manufacturers to be able to manufacture more and reduce the costs of their products ?,” APPA National President Princewill Okorie, asked.
Recommending solutions to the Federal Government, Okorie urged it to reverse its policy on gas.
He said: ‘’Government should come up with a new policy that will spell out domestic gas obligation for power generation. Why should gas that is produced locally be sold to generating companies(GenCos) in dollars? How should Nigeria that lacks gas for electricity generation export the same product?
‘’It is not a patriotic policy. The solution we want is that the Federal Government should reverse the policy on gas.
“If gas is made available to the generation companies to generate electricity, tariff will be reduced. Why will we have gas in quantity and be buying gas in dollars in Nigeria and no percentage is reserved for generating electricity for Nigerians.
“Rather, the gas is sold abroad by private companies while citizens are suffering by paying high tariffs. It does not help. It is not a patriotic decision at all. Let gas be made available for GenCos.”
The APPA chief also called on the Federal Government to settle the N47 billion that its Ministries, Departments and Agencies are owing the DisCos.
He said that it was unfortunate that government’s decisions in the power were, more often, based on data from the DisCos and not those generated by any of its agencies .
Okorie asked: “Where are the data ? All these decisions taken in the power sector are they based on data from consumers generated at community level? Should the ministry (Power) depend of DisCos to give them report and not verify from the consumers.
“Who is overseeing consumers’ issues in the Ministry of power? Who is advising the ministry and the President on issues regarding power? Nobody.’’
But the House of Representatives which welcomed the 8.1 tariff reduction agreed that there is more to be done.
The House had on April 30 called on NERC to reverse N225/kWh tarrif increase. It also raised a committee to hold a public hearing with stakeholders in the power sector and Organised Labour.
Spokesman for the House Akintunde Rotimi told The Nation that the public hearing would proffer lasting solutions to frequent tariff increases by NERC and DisCos.
CPPE founder Yusuf said NERC had by the review shown that it was responsive to the peoples’ concerns
He added that he believes that the tariff slash, no matter how minimal, would have a positive impact on manufacturing in particular and electricity consumers in general.
Yusuf said: “The review is a welcome development and above every other thing it proves that NERC is sensitive to the concerns that have been expressed by the citizens, electricity consumers and the national assembly. It is a good development for manufacturers and electricity consumers generally.
“As to the factor of macroeconomic environment, I hope that if the situation changes may be by this month or next, NERC would not come back and start reviewing it again because there is also a need for stability in electricity tariff.
‘’Electricity is of strategic importance to the economy and not only for its comfort for the people but for the productivity in the economy.
‘’It is not a sector where we should be expecting another volatility because we have enough volatility in other sectors and no need adding that of electricity into it.’’
Why tariff was slashed, by NERC
Improvement in the exchange rate , among other macroeconomic parameters, induced the tariff reduction, said the commission.
It explained in a statement that the slash was in tandem with the tariff methodology covering this month.
“The commission has considered changes in the macroeconomic parameters over the preceding month of April 2024 and especially the appreciation of exchange rates – consequently the Commission has approved a downward review of end-user tariffs for Band “A” customers from N225/kWh to N206.8/kWh,” the statement read.
NERC also reiterated that it was committed to providing a balanced and effective regulatory regime serving the needs of the Nigerian Electricity Supply Industry (NESI).
In their separate reactions, the DisCos which complied almost immediately by reducing the Band A tariff, said they follow ‘’directives given by the regulators knowing they are in the best interest of all parties.’’
They assured customers of continued improvement in service delivery.
Ikeja Electricity (IE) Head of Corporate Communications, Kingsley Okotie, assured customers in Bands B, C, D, and E that their tariff ‘’remains unchanged.”
Okotie added: “We are a compliant Disco; we follow directives given by the regulators knowing it is in the best interest of all parties. We assure our customers of continued improvement in our service delivery as we strive to give them a better quality of service.
‘’Please be informed of the downward tariff review of our Band A feeders from N225/kwh to N206.80/kwh effective 6th May 2024 with guaranteed availability of 20 to 24 hours supply daily.’’
The Abuja Electricity Distribution Company said: “We are pleased to share with you the revised tariff for our Band A feeders, which will decrease from N225/kWh to N206.80/kWh effective today(Monday). We assure customers on our Band A feeders of continued availability of electricity supply for 20-24 hours daily.”
The Federal Government, through the Securities and Exchange Commission, is set to delist the naira from all peer-to-peer crypto platforms as the government steps up efforts to tackle exchange rate manipulators and dollar racketeers.
The development came against the backdrop of the recent moves by the Federal Government to regulate Nigeria’s crypto market estimated at $57bn.
The newly-appointed Director-General of the Commission, Emomotimi Agama, disclosed the government’s latest plan during a meeting with members of the Nigerian blockchain industry on Monday.
The meeting was organised by the Blockchain Industry Coordinating Committee of Nigeria.
Agama confirmed that the government was currently drafting a new set of regulations to govern the crypto sector.
Operators in the crypto space have allegedly used the P2P platforms to manipulate the naira and the exchange rate.
“That is one of the things that must be done to save this space; the delisting of the naira from the P2P platforms to avoid the level of manipulation that is currently happening. I want your cooperation in dealing with this as we roll out regulations in the coming days,” the SEC DG told the members of the local crypto community.
Agama’s announcement came barely a week after the Central Bank of Nigeria instructed payment service banks to caution their customers against engaging in crypto transactions.
The PUNCH understands that some local exchanges in the country, such as OKX, Bitbarter and some platforms under the membership of Stakeholders in the Blockchain Technology Association of Nigeria had already stopped naira services in solidarity with the government.
In March, SiBAN sought collaboration with the Federal Government for proper regulation after developing the Virtual Assets Service Providers Code of Conduct in 2022.
However, the SEC DG urged members of the crypto community in Nigeria to “name and shame” the players involved in the manipulation of the naira.
He maintained that some bad players in the industry were manipulating the national currency, an act that the government was determined to deal with.
Agama said, “We ask with all sense of sincerity that those involved in sharp practices cease. We encourage you to reach out to us by naming and shaming those involved.
“This nation has a future, and this future is dependent on this community. For us at the SEC, our interest is to provide an enabling environment for fintech to thrive, and by so doing; we expect the fintech community to reciprocate by doing the right thing.
“Patriotism can never be wished away. Whatever we do that would bring dishonor to our country, we must try to avoid it. What is very critical and has brought about this meeting are the concerns regarding crypto P2P traders and their effect on the naira.”
He maintained that the SEC under his watch was poised for an innovative digital asset regulatory regime that would sustain Nigeria as Africa’s digital asset powerhouse with diverse solutions like real-world asset tokenization.
This, according to him, will drive wealth and catalyse the country’s capital market.
He said, “We must explore innovative solutions to this problem and strike the right balance between encouraging innovation and safeguarding our national economic interests. This we will do in a friendly and firm manner to enable us to achieve the desired result.
“On that note, I want to emphasise that we are working on different fronts to sustain decent practices within our market. However, we are here to meet ourselves to know those playing within the sector decently and are open to hearing your suggestions on how we can effectively manage all obscure cryptocurrency trading activities within our jurisdiction, P2P inclusive, irrespective of the challenge we all know that P2P trading poses.”
Sunday PUNCH had reported that the proposed Monday meeting would see the government take decisive action on the sector.
Nigeria’s volume of crypto transactions grew by nine per cent year-over-year to $56.7bn between July 2022 and June 2023, according to the 2023 Geography of Cryptocurrency Report by Chainalysis, a United States-based international blockchain analysis firm.
Stakeholders seek collaboration.
In his remarks, the Chairman of the Fintech Association of Nigeria, Dr. Babatunde Obrimah, commended the SEC DG for the bold steps and the proposed partnership with the ecosystem.
He pledged the association’s commitment to working with the DG to sanitise the virtual ecosystem.
On its part, BICCoN requested the setting up of a working group to tackle the various challenges facing the crypto space and move the market forward.
The co-founder of a local exchange, Bitbarter.io, Chukwuemeka Ezike, told The PUNCH that operators within the ecosystem were willing to support and work with the government to ensure that some of the issues relating to the naira’s value were resolved.
While acknowledging that huge investments have been put into building their platforms, he said it would be imperative to work out possible resolutions to enhance the sector’s growth.
On Saturday, the Chairman of BICCoN, Lucky Uwakwe, had said that the group would be seeking to reach a middle ground with the regulator.
Ukakwe said the meeting “is for us to try and bring the industry to be compliant and remove bad actors who abuse technology, especially the concern raised by the government. This has to do with those who use the technology to manipulate the naira.
“We also hope that innovation is encouraged to enable the industry to gain more foreign inflow that will aid the current administration’s drive for foreign investment into the nation, as seen in other countries such as China and the UAE, and not to stifle the industry.”
Fintechs.
Last week, the CBN stopped major fintech firms from onboarding new customers in an ongoing audit of their Know-Your-Customer process.
The ‘Know Your Customer’ compliance level of fintechs has also been a source of worry for regulators. This involves verifying a customer’s identity and understanding their financial activity to prevent financial crimes, such as money laundering, terrorist financing, and fraud.
According to the Nigeria Inter-Bank Settlement System’s fraud watch report, fraud losses increased by 496.96 per cent over the past five years, and financial institution customers lost N59.33bn between 2019 and 2023.
Following the regulatory action, major fintech firms, including Opay and PalmPay, sent emails to their customers on Friday, warning them against trading in cryptocurrency or any virtual currency on their apps. They also threatened to block any accounts found engaging in such activities.
Already, the Economic and Financial Crimes Commission has obtained a court order to freeze at least 1,146 bank accounts owned by various individuals and companies allegedly involved in illegal foreign exchange transactions.
The 85-page court order (document), which listed the bank account details of the suspects, was obtained by The PUNCH on Monday.
Justice Emeka Nwite, in a ruling on the ex-parte motion, moved by counsel for the anti-graft agency, Ekele Iheanacho, also granted the commission’s application to conclude the investigation within 90 days.
Part of the court document read, “That the applicant’s (EFCC) application is hereby granted as prayed.
“That an order of this honourable court is hereby made freezing the bank accounts stated in the schedule below, which accounts are owned by various individuals who are currently being investigated in a case involving the offences of unauthorised dealing in foreign exchange, money laundering, and terrorism financing, to the extent that the investigation will be for a period of 90 (ninety) days.”
The President of the Bank Customers Association of Nigeria, Uju Ogubunka, backed the CBN’s move to suspend new account openings on the affected platforms.
He told The PUNCH that the strict regulations that govern deposit money banks must apply to fintechs and microfinance banks to ensure the integrity of the financial institutions.
He said, “Anything that can disrupt the system should not be permitted. If the platforms are being used for things that are against the regulations, I think the CBN decision is OK. I don’t see anything wrong with that. It behoves the companies now to get their KYC right.
In 2021, the CBN restricted banks and other financial institutions from operating accounts for cryptocurrency service providers.
However, in December 2023, the financial regulator lifted the ban.
But fresh concerns emerged in February over the activities of the largest cryptocurrency exchange in the world, Binance, on its peer-to-peer platform, especially on issues relating to its price cap on USDT trading.
Authorities said those activities contributed to the depreciation of the naira.
On March 8, Binance stopped its naira services after two of its executives were detained by the Nigerian authorities
A presidential spokesman, Bayo Onanuga, said Binance could destroy the Nigerian economy by arbitrarily fixing the foreign exchange, rate if not stopped.
While confirming that the government has taken strict action against the website, Onanuga said, “If we don’t clamp down on Binance, Binance will destroy the economy of this country. They just fix the rate.”
“We have saboteurs. Look at what Binance is doing to our economy. That is why the government moved against Binance. Some people sit down using cyberspace to dictate even our exchange rate, hijacking the role of the CBN.
“They just sit down and fix anything they like. It’s sabotage, and we are trying to prevent that from happening henceforth.”
[Punch]
The Central Bank of Nigeria (CBN) has ordered all banks to start charging a 0.5 per cent cybersecurity levy on all electronic transactions within the country excluding 16 listed banking deals.
According to a circular signed by the Director, Payments System Management Department, Chibuzo Efobi; and the Director, Financial Policy and Regulation Department, Haruna Mustafa; the cybersecurity would commence two weeks from May 6, 2024.
The apex bank, in the circular, directed to all commercial, merchant, non-interest, and payment service banks, among others; to start the implementation of the cybersecurity charges after two weeks of the information.
“The levy shall be applied at the point of electronic transfer origination, then deducted and remitted by the financial institution. The deducted amount shall be reflected in the customer’s account with the narration, ‘Cybersecurity Levy,’” the circular partly read.
However, the CBN listed 16 banking transactions exempted from the new cybersecurity levy.
The exempted transactions are listed below:
1. Loan disbursements and repayments
2. Salary payments
3. Intra-account transfers within the same bank or between different banks for the same customer
4. Intra-bank transfers between customers of the same bank
5. Other Financial Institutions instructions to their correspondent banks
6. Interbank placements,
7. Banks’ transfers to CBN and vice-versa
8. Inter-branch transfers within a bank
9. Cheque clearing and settlements
10. Letters of Credits
11. Banks’ recapitalisation-related funding – only bulk funds movement from collection accounts
12. Savings and deposits, including transactions involving long-term investments such as Treasury Bills, Bonds, and Commercial Papers
13. Government Social Welfare Programmes transactions e.g. Pension payments
14. Non-profit and charitable transactions, including donations to registered non-profit organisations or charities
15. Educational institutions’ transactions, including tuition payments and other transactions involving schools, universities, or other educational institutions
16. Transactions involving 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.
[Vanguard]
The Central Bank of Nigeria (CBN) has directed banks and other financial institutions to implement a 0.5 percent cybersecurity levy on electronic transfers.
This is contained in a circular signed by Chibuzor Efobi, director of payments system management and Haruna Mustafa, director of financial policy and regulation on Monday.
The directive was issued to commercial, merchant, non-interest and payment service banks, as well as mobile money operators.
CBN said the policy would take effect in two weeks and charges would be described as ‘Cybersecurity Levy’.
According to the apex bank, the deduction and collection of the cybersecurity levy is a sequel to the enactment of the Cybercrime (prohibition, prevention etc) Amendment Act of 2024.
“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% (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),” CBN said.
CBN said the charges would be remitted to the national cyber security fund, which would be administered by the office of the NSA.
“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.”
CBN said failure to remit the levy is an offence which attracts a fine of not less than 2 percent of the annual turnover of the defaulting business, amongst others.
“Finally, all institutions under the regulatory purview of the CBN are hereby directed to note and comply with the provisions of the Act and this circular.”
Meanwhile, earlier, banks announced the reintroduction of 2 percent charge on deposits above N500,000.
[TheCable]
The Federal Government is aware of false alarms being raised in some quarters alleging discussions between the Federal Government of Nigeria and some foreign countries on the siting of foreign military bases in the country.
We urge the general public to totally disregard this falsehood.
The Federal Government is not in any such discussion with any foreign country. We have neither received nor are we considering any proposals from any country on the establishment of any foreign military bases in Nigeria.
The Nigerian government already enjoys foreign cooperation in tackling ongoing security challenges, and the President remains committed to deepening these partnerships, with the goal of achieving the national security objectives of the Renewed Hope Agenda.
Mohammed Idris
Minister of Information and National Orientation
06 May 2024
Governor Nasir Idris of Kebbi State has raised the alarm that some influential figures within the state are allegedly working to undermine his administration’s objectives.
Speaking at the Uhola Festival and Agricultural Show in Zuru, Kebbi State, at the weekend, Governor Idris expressed his determination not to be swayed by their efforts.
The governor revealed how certain individuals from the state had reportedly intervened at the Federal Ministry of Works in Abuja to alter the road development plans he had previously submitted.
“It might interest you to know that someone went and changed the submission we already made on the Koko Dabai Road with that of Bui-Kangiwa-Kamba Road up to the border with Niger Republic at the Ministry of Works in Abuja.
“Whereas the KoKo-Dabai Road needs more urgent attention than the Bui-Kamba Road which is still motorable.
“I feel sad whenever I come to Zuru because all the three roads linking the town to other places are in bad shape,” he said.
The governor said he would gather prominent personalities from the Zuru Emirate including traditional rulers to meet President Bola Ahmed Tinubu in Abuja for a rapid solution to the disturbing issue.
Idris affirmed the commitment of his administration to support and finance the annual Uhola Festival, recognising its significance in promoting culture for economic growth and social cohesion.
[DailyTrust]
Abia State Governor, Alex Otti, has told the immediate past administration in the state, headed by Okezie Ikpeazu, to get ready to return looted funds, including money budgeted for the airport project.
Otti, who was reacting to the report of the forensic audit of the state’s accounts, said his administration is not fighting anybody but is only interested in recovering looted funds, in a bid to ensure good governance.
The governor spoke at Nvosi, during a solidarity visit by supporters and loyalists of the member representing Isiala Ngwa South State Constituency, Rowland Chinwendu.
He stressed that what he wants is the progress and development of Abia State, emphasizing that since the airport was not executed, the project money should be refunded.
Otti expressed dismay that some people are insulting him in the media because he disclosed the findings of the forensic audit report.
The governor described the solidarity visit by Chinwendu and his supporters as a good omen.
“I established a forensic audit of our accounts as soon as I was sworn in and the report turns out that a lot of money was looted, stolen brazenly and part of the ones I mentioned was the N10 billion Abia Airport Project.
“They started insulting me. If you follow what is happening in the media, you would know that what I said is true.
“We are looking for our money. If we are not able to find the airport, they would have to refund us our money.
“We are not pursuing anybody, they should refund the money they stole, let’s use it to work for our people.
“Our place must develop. We will continue to build roads, we will continue to clean up the environment, we will continue to create jobs.”
In his speech, the member representing Isiala Ngwa South State Constituency, Chinwendu, noted that his people sent him to the House to represent their interest.
He stressed that he cannot afford to be seen as opposition to the governor, who is from the same LGA.
The lawmaker thanked the governor for the ongoing reconstruction of Umuikaa-Umuene road, among other projects in his constituency.
[DailyPost]
More...
The United Kingdom (UK) on Sunday said only international students coming in for their Doctor of Philosophy (PhD) studies are eligible to bring in dependents to the country.
Dr. Richard Montgomery, the British High Commissioner to Nigeria made this known in an interview with newsmen in Abuja.
He said that the educational system policy changed earlier this year for international students in higher education not to bring dependents into the UK was to curb the increase of foreign students bringing in dependents.
He explained that the huge surge in dependence was putting an unsustainable pressure on many universities, adding that it was the reason these changes were introduced.
Here are eight countries Nigerian Masters students can move to with their dependants
1. Canada
Canada aims to welcome over 460,000 new immigrants each year to strengthen the economy, reunite families, and help refugees.
Under its immigration levels plan, Canada is now looking to get 465,000 new permanent residents in 2023, 485,000 in 2024 and 500,000 in 2025
The country’s dependent visa allows international students to bring their dependents and also allows them to work or study full-time once they have the relevant permits.
2. Germany
Germany’s dependent visa also known as a family reunion visa permits the spouse, children, and other family members to join and live with their family members residing in Germany. They can either reside temporarily or permanently in the country.
3. New Zealand
New Zealand also has a dependent child student visa that allows a dependent child to join their parents in the country and study at a primary or secondary school. “A dependent child can be treated as a domestic student, which means you don’t have to pay tuition fees for them to go to school.”
To apply for a Dependent Child Resident visa, your children must be single and financially dependent on you. Your children must sign a declaration they are single when they complete their application form. Immigration New Zealand considers your children dependent if they are: 17 or younger.
4. Australia
An Australia-dependent visa allows dependent family members of Australian citizens, Australian permanent residents, or eligible New Zealand citizens to live and work in Australia. This includes spouses, children, and other eligible family members.
5. Denmark
If an international student wants to bring their family to Denmark, they must apply for a green card Dependent visa. It allows Danish green card holder to bring their family with them to the nation while they are living and working there.
Denmark has several categories of dependent visas. Of these dependent visas, the Student Dependent Visa is designed for the spouse or unmarried children below 18 years of age of foreigners schooling in the country with a Denmark student visa to join their relatives in Denmark.
6. Finland
In September 2022, Finland issued more residence permits compared to the previous year as its processing time for visa application was 77 days on average, about 46 per cent less compared to 143 days in the previous period, the Finnish Immigration Service revealed.
The D visa allows you to travel to Finland immediately after being issued with a residence permit.
You can apply for a D visa if your spouse or your parent or guardian is applying for one of the following residence permits: A residence permit for a specialist. EU Blue Card.
7. Estonia
While staying in Estonia with a student visa, your family members can apply for an Estonia family visa to join you.
If they are issued a family visa, they can stay with you in Estonia for one year.
8. Sweden
Sweden is a Scandinavian nation in northern Europe with thousands of coastal islands and inland lakes, along with vast boreal forests and glaciated mountains.
The country which is highly developed, is ranked seventh in the Human Development Index, according to United Nations Development.
It has different types of permits that allow people to bring their dependents. The type of permit that should be applied for will vary depending on the situation of the person who is living in the country.
[TheNation]
The Federal Government has approved a downward review in electricity tariff for Band A customers to N206.80/kwh, from N225/kwh.
Ban A customers are electricity consumers with a minimum supply of 20 hours daily.
In a notice to its customers on Monday, Ikeja Electric, stated: “Please, be informed of the downward tariff review of our Band A feeders from N225/kwh to N206.80/kwh effective 6th May 2024 with guaranteed availability of 20-24 hours supply daily.
“The tariff for Bands B, C, D, and E remains unchanged.”
Details on this coming.
Band A
recall that the Nigerian Electricity Regulatory Commission, NERC, had increased the tariff paid by Band A customers from N68/KWh to N225/kWh.
Band A customers are expected to receive between 20 and 24 hours of electricity supply daily. Those under B enjoy 16 to 20 hours of power supply and those in Band C receive 12 to 16 hours daily.
NERC also said that Band A customers make up just 15 percent of total electricity customers in the country.
Additionally, these customers would no longer enjoy government subsidy on electricity.
However, the review of electricity tariff generated reactions across the country.
For instance, human rights lawyer, Femi Falana (SAN), said the Federal Government was working in the interest of the International Monetary Fund, IMF, and the World Bank in hiking electricity tariff.
He said: “The Honourable Minister of Power is acting the script of the IMF and the World Bank.”
Also, the Nigerian Bar Association, NBA, Ikeja branch, gave the Federal Government and electricity distribution companies, DisCos, a seven-day ultimatum to reverse to the old electricity tariff or face a lawsuit.
Speaking, chairman of the branch, Mr Seyi Olawunmi, described the increase in the electricity tariff by almost 300 per cent as unreasonable and insensitive.
He said NERC order in respect to the tariff hike was not in line with the current economic realities of an average Nigerian.
Labour’s reaction to tariff
Also recall that the Nigerian Labour Congress, NLC, and the Trade Union Congress, TUC, appealed to NERC, and power sector operators, to reverse the increase in electricity tariff within one week.
President of the unions, Mr Joe Ajaero and Mr Fetus Osifo, respectively, made the call last Wednesday in a joint speech to mark the 2024 Workers’ Day in Abuja.
They expressed dissatisfaction over the epileptic power situation in the country. The labour leaders said it was affecting the economic growth of the country.
According to them, it is imperative that any nation incapable of effectively and efficiently managing its energy resources faces certain ruin.
In their words: “One of the pivotal factors constraining our nation is our glaring incompetence in managing this sector for the collective welfare of our citizens.
“Power, regardless of its source, remains paramount in kickstarting any economy, while oil and gas are indispensable for robust energy success in every country. “
They said it was absolutely critical for the government to collaborate with the people to establish frameworks that ensure energy works for all Nigerian.
According to the duo, the plight of the power sector remains unchanged over a decade after privatisation of the sector.
Ademola Adeleke, governor of Osun, has directed an immediate investigation into the alleged deportation of Osun youths from Lagos state.
On Saturday, there were reports that the Lagos government implemented the deportation of Osun indigenes from the state.
The reports claimed that police officers had picked up Osun indigenes from various parts of Ajah, TBS and Lagos Island.
In a statement issued on Monday by Olawale Rasheed, spokesperson to the governor, Adeleke expressed shock over the incident, adding that the state has set up an investigative team and was interfacing with the Lagos state government.
“The report was confirmed by an investigation team set up to confirm the veracity of the story by the Osun state government,” the statement reads.
“The state team reported that eyewitness accounts confirmed the dropping of the youths in several luxurious buses by a team suspected to be from Lagos State.
“The state’s report showed that the youths were systematically dropped at Ilesa-Akure express junction, Breweries; Ilesa – Ibodi – Iginla to Ife express junction, Osun Ankara express junction, Imelu express junction and Iperindo express junction.”
The governor said he has engaged Babajide Sanwo-Olu, governor of Lagos, who also expressed shock over the development and promised to take urgent action.
“I spoke with my brother, governor Sanwo-Olu on the matter. He too was surprised and he denied ever authorising any such action,” the governor said.
“Governor Sanwo-Olu has promised immediate investigation to unravel the facts of the situation. The Lagos team will update us as quickly as possible.
“I am subsequently directing our security agencies in Osun to mount surveillance in and around Ilesa to track the deported youths and their destinations.
“I will update our people on this development. I urge residents to be calm while the security agencies carry out surveillance.”
[TheCable]
The Nigerian Electricity Regulatory Commission (NERC) is set to boost electricity supply to domestic customers following its order, mandating a department within the Transmission Company of Nigeria, the System Operator (SO) to start capping power supply to international customers, which includes Benin Republic, Niger and Togo.
NERC’s order, published on Friday, May 3rd was dated April 29, 2024, and effective from May 1, 2024, was jointly signed by the commission’s Chairman, Sanusi Garba, and Vice Chairman, Musiliu Oseni.
The directive, outlined in a document titled ‘Interim Order on Transmission System Dispatch Operations, Cross-border Supply, and Related Matters,’ will be in effect for six months, subject to review.
The document stipulated that power delivery to Nigeria’s neighbours must not exceed six per cent of the total grid electricity at any given time.
The electricity sector regulator expressed concern about sub-optimal grid dispatch practices, which have impacted the ability of Distribution Companies, to meet their service tariff commitments to end-users.
“The reliance on limiting Discos’ load off-take while prioritising international off-takers and Eligible Customers has proven neither efficient nor equitable,” the document states.
Nigeria currently supplies electricity to neighbouring countries, including Benin Republic, Niger Republic, and Togo.
NERC emphasised that the current international and bilateral contracts with Generation Companies often fall short of industry standards.
It stated that many off-takers contracted bilaterally by Gencos exploit this prioritisation, exceeding their contracted levels during peak operations without penalties.
As an interim measure, NERC said the move is aimed at guiding the system operator and TCN in implementing Standard Operating Procedures to enhance transparency and fairness in grid operations.
The order also mandates the system operator to place interim caps on capacities supplied to international customers for the next six months, minimising the impact on domestic supply obligations by Gencos.
The document stated that the system operator must develop and present a pro-rata load-shedding scheme to ensure equitable load allocation to all off-takers (Discos, international customers, and eligible customers) during generation drops or grid imbalances.
“The system operator will log and publish hourly readings, enforcing penalties for violations of grid instructions and contracted nominations. Maximum load allocation to international off-takers in each trading hour shall not exceed six per cent of the total available grid generation.”
It added bilateral transactions between generators and off-takers require express approval from the commission.
The system operator and TCN must install integrated Internet of Things meters at off-take and delivery points to provide real-time visibility of aggregate offtake by grid customers.
Also, TCN announced the commencement of erecting two 132kV transmission towers at the Amukpe substation and restoration work on the Benin-Delta and Delta-Oghara 132kV double circuit transmission lines from May 4 to 17, 2024. During this period, bulk power supply to Benin Disco through specific feeders will be temporarily interrupted.
Part of the document read, “The commission hereby orders as follows: The system operator shall develop and present to the commission for approval within seven days from the issuance of this order a pro-rata load-shedding scheme that ensures equitable adjustment to load allocation to all off-takers — Discos, international customers, and eligible customers — in the event of a drop in generation and other under-frequency related grid imbalances necessitating critical grid management.
“The system operator shall implement a framework to log and publish hourly readings and enforce necessary sanctions for violation of grid instructions and contracted nominations by off-takers in line with the grid code and market.
“The aggregate capacity that can be nominated by a generating plant to service international off-takers shall not be more than 10 per cent of its available generation capacity unless in exceptional circumstances a derogation is granted by the commission.“The system operator shall henceforth cease to recognise any capacity addition in bilateral transactions between a generator and an off-taker without the express approval of the commission,” it added.
It urged “the system operator and TCN to immediately initiate and install integrated Internet of Things (IoT) meters at all off-take and delivery points of eligible customers, bilateral supplies, cross-border trades, and outgoing 33kV feeders of the Discos to provide real-time visibility of aggregate offtake by grid customers.
“The installation of and streaming of data from the IOT meters should be completed within three months from the date of this order.”