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Tinubu Bows To Pressure, Suspends Cyber Security Levy

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President Bola Tinubu has instructed the Central Bank of Nigeria to suspend the implementation of the 0.5 per cent cybersecurity levy in response to public backlash and opposition following its announcement.
Minister of Information and National Orientation, Mohammed Idris, disclosed the suspension of the levy, yesterday.
Idris stated that President Tinubu has directed the CBN to temporarily halt the enforcement of the 0.5 per cent cybersecurity levy and to review the methods for its application.
Recall that members of the House of Representatives last Thursday asked the CBN to withdraw the circular directing financial institutions to commence implementation of the 0.5 per cent cybersecurity levy, describing it as “ambiguous”.
The introduction of the new levy sparked varied reactions among stakeholders as it is expected to raise the cost of conducting business in Nigeria and could potentially hinder the growth of digital transaction adoption.
The CBN had, on May 6, 2024, issued a circular mandating all banks, mobile money operators, and payment service providers to implement a new cybersecurity levy, following the provisions laid out in the Cybercrime (Prohibition, Prevention, etc) (Amendment) Act 2024.
According to the Act, a levy amounting to 0.5 per cent of the value of all electronic transactions will be collected and remitted to the National Cybersecurity Fund, overseen by the Office of the National Security Adviser.
Financial institutions are required to apply the levy at the point of electronic transfer origination.
The deducted amount is to be explicitly noted in customer accounts under the descriptor “Cybersecurity Levy” and remitted by the financial institution. All financial institutions are required to start implementing the levy within two weeks from the issuance of the circular.
By implication, the deduction of the levy by financial institutions should commence on May 20, 2024.
However, financial institutions are to make their remittances in bulk to the NCF account domiciled at the CBN by the fifth business day of every subsequent month.
The circular also stipulates a timeframe for financial institutions to reconfigure their systems to ensure complete and timely submission of remittance files to the Nigeria Interbank Settlement Systems Plc as follows: “Commercial, Merchant, Non-Interest, and Payment Service Banks – Within four weeks of the issuance of the Circular.
“All other Financial Institutions (Microfinance Banks, Primary Mortgage Banks, Development Financial Institutions) – Within eight weeks of the issuance of the Circular,” the circular noted.
The CBN also emphasised strict adherence to this mandate, warning that any financial institution that fails to comply with the provisions will face severe penalties.
As outlined in the Act, non-compliant entities are subject to a minimum fine of two per cent of their annual turnover upon conviction.
The circular provides a list of transactions currently deemed eligible for exemption, to avoid multiple applications of the levy.
These are loan disbursements and repayments, salary payments, intra-account transfers within the same bank or between different banks for the same customer, and intra-bank transfers between customers of the same bank.
Exemptions include other financial institutions’ transfers to their correspondent banks, interbank placements, banks’ transfers to CBN and vice versa, inter-branch transfers within a bank, cheque clearing and settlements, letters of credit, and banks’ recapitalisation-related funding.
Others are bulk funds movement from collection accounts, savings, and deposits including transactions involving long-term investments such as treasury bills, bonds, and commercial papers, and government social welfare programmes transactions.
These may include pension payments, non-profit and charitable transactions including donations to registered non-profit organisations or charities, educational institutions transactions, including tuition payments and other transactions involving schools, universities, or other educational institutions, and transactions involving the bank’s internal accounts, inter-branch accounts, reserve accounts, nostro and vostro accounts, and escrow accounts.

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Tinubu Urges Youths To Leverage NASRDA Skills Acquisition Project For Employment

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President Bola Tinubu has called on Nigerian youths to leverage the skills acquisition programme of the National Space Research and Development Agency (NASRDA) for gainful employment.

Tinubu made the call on Wednesday in Abuja during the opening ceremony of NASRDA skills acquisition project being executed in collaboration with Grassroots Bridge Builders (GBB), a Non-Governmental Organisation (NGO).

Represented by Mr Adewale Adeogun, Chairman, Tinubu National Think Tank (TnT), he said the project was part of the many initiatives of the government under its Renewed Hope Agenda.

The Tide source reports that the project targets to train 60,000 youths with relevant life changing skills.

“Most of our people are not aware of some of the policies that the President have brought forward because they were not informed, misinformed.

“The NASRDA/GBB project is here to educate, train and allow NGOs, corporate bodies, religious bodies, some support group leaders on these activities and we have millions of people unaware.

“We want Nigerians embrace this programme, come up with ideas of how we can get millions, at least 50 million Nigerians out of this unemployment circle,’’ Tinubu said.

He said the Federal Government was in discussions with companies, government institutions to employ the youths who had benefited from the project.

“These youths, when trained through our platform, we will introduce them to ministries, agencies, parastatals and industries for employment.’’

Director-General of NASRDA, Dr Matthew Adepoju, said that Nigerian youths were intelligent, hardworking and creative, adding that the government was committed to giving them skills for development.

“We can use the space science and technology to empower the youth to function in their own ecosystem,’’ he said.

He recalled the agency already started a pilot skills acquisition programme on mast installation, maintenance and management of telecom infrastructure, with over 60 youths in participation.

According to him, the training is expected to touch on different sectors, states and local government levels because that is where the bulk of our youths reside.

Dr Haruna Mohammed, Technical Adviser to the D-G, said they were at the level of profiling the participants.

‘’The first was the pilot project, which we had over 60 participants, and we are scaling it up now, and we are profiling them, gathering data, trying to know how to spread it across the country.

“For this next stage, we are proposing 5000 youths and we recently had a request from some ministries to train about 60,000 youths,’’ he said.

Mohammed said that the youths would be trained on 27 different skills such as artistry, carpentry and painting.

Mr Ibrahim Igoche, Chief Executive Officer, GBB, encouraged other NGO, partners to join the government in building the skills of Nigerian youths to reduce poverty.

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Okpebholo Approves New Minimum Wage Of N75,000 For Edo Workers

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Gov. Monday Okpebholo of Edo has raised the minimum wage for Edo workers from N70,000 to N75,000 to further improve their standard of living.

The governor announced this during his May Day speech at the Samuel Ogbemudia Stadium in Benin.

The governor, while appreciating Edo workers’ contributions to the state’s development, said his administration would always look for ways to improve the welfare of Edo workers.

“Today, I am proud to announce that our administration has approved a new minimum wage of N75,000 per month for all Edo workers.

“It’s our way of saying thank you, Edo workers. We believe this makes a real difference, and we count on your dedication to a better Edo.

“Since taking office, my administration has prioritised workers’ welfare.

” One early action was converting over 1,000 casual workers, including cleaners, into permanent civil service employees,” he said.

Okpebholo disclosed that his administration had also hired 500 teachers, adding that he was reviewing over 3,000 casual teachers for full employment.

“We also approved recruitment of 450 clinical and non-clinical hospital staff and regularised 126 contract workers at Edo State Specialist Hospital for stability and growth,” he added.

The governor also disclosed that his administration had cleared outstanding salary arrears owed to Edo Polytechnic staff.

“In the judiciary, judges whose appointments were delayed have been properly sworn in and are now actively performing their constitutional duties without further administrative hindrances.

“To prove our commitment, we approved health insurance for retirees because we believe support must continue after workers leave active service,” the governor said.

Okpebholo reiterated his administration’s dedication to prompt salary and pension payments, structured recruitment, workers’ welfare and professional development

“As we celebrate today, I join President Tinubu and fellow governors in wishing Nigerian workers a peaceful, fulfilling celebration. Your efforts build our nation daily.”

Acting NLC Chairman, Edo chapter, Comrade Bernard Egwekhide, praised Governor Okpebholo for laudable policies that ease the hardship experienced by workers and pensioners across the state.

He said the theme, “Reclaiming the Civil Space Amid Economic Hardship,” was appropriate and highlighted the critical issues faced by Nigerian workers in today’s tough economy.

Egwekhide appreciated the governor’s seriousness towards workers’ welfare, noting that recent interventions had significantly improved the lives and civil rights of Edo workers.

“Within six months in office, you have performed excellently for Edo workers. Your achievements surpass our expectations and show real commitment to the needs of workers

“We also thank President Bola Tinubu for supporting Edo State. The first flyover is under construction, and a second has already been approved for development.

“Additionally, federal roads across the state are now receiving the urgent attention they have long needed, thanks to the partnership with the Federal Government,” Egwekhide said.

 

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Rivers Gears Up For First Round Of Polio Immunization Campaign

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Rivers State is set for the first round of the Oral Polio Vaccine Immunization Campaign from the 3rd through to the 6th of May, 2025.

This was disclosed by the state Director, Community Health Services, Dr. Joy Tonye Wihioka, during a sensitization meeting with the Social and Behavioral-Change Communication Committee (SBCC) and stakeholders for the round one of the National Immunization Pulse Days (NIPDs) in Port Harcourt.

According to Dr. Wihioka, this campaign is targeted at the hard to reach areas and will focus on children within the age range of zero to five years.

The Immunization exercise  according to her, will basically go from  house to house, community to community and school to school campaign.

She said the meeting is primarily a Clarion call to all relevant stakeholders to create awareness on the improvement of the programme in the state.

Dr. Wihioka explained that the Rivers State government is striving towards  sufficient coverage in the vaccination exercise, noting that the state has recorded over 90% coverage of the vaccination exercise, save for the hard to reach areas, hence this exercise is deliberately targeted at these areas, as all necessary logistics have been put in place to ensure the successful implementation of the immunization campaign.

She said that one great achievement of the state is the near eradication of measles and whooping cough, even as the the state is not resting on its oars in carrying consistent surveillance for other  vaccine preventable diseases.

She explained that it is the testament of the vaccination successes that most of these diseases have been eradicated in our dear state,  that over the years it has been proven that vaccines are safe in managing preventable diseases.

On her part, the State Health Educator, Rivers State Primary Health Care Management Board (RSPHCMB), Dr Babbo Diana, said one day had been designated to school children for the first round of the  Oral Polio Vaccine Immunization Campaign, explaining that children between the ages of zero to five years, would be targeted in  churches, mosques, market places and schools for them to be vaccinated.

He added that this year’s exercise would address the high number of unresolved non compliance cases.

Earlier, a representative of the World Health Organization (WHO), Ajawa Chibuzor, had pledged the support of the WHO in curtailing the issue of vaccine preventable diseases in the state.

Chibuzor who is an Assistant Health Public Officer said the Organisation is fully committed to ensuring that Rivers State is free from all vaccine preventable diseases.

Also speaking, the representative of the United Nation International children  Educational fund (UNICEF), Sandra James, said that UNICEF would encourage the Rivers State Health Care Management Board (RSPHCMB) to have a healthy State free of Polio.

 

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