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May 20, 2024 CBN Makes U-Turn on 0.5% Cyber Security Levy
IFMUYONEWS

CBN Makes U-Turn on 0.5% Cyber Security Levy

The Central Bank of Nigeria (CBN) has withdrawn its earlier circular directing banks to implement a controversial 0.5% cybersecurity levy on electronic transactions.

 

The decision of the apex bank to withdraw the circular followed the public outrage that trailed the announcement of the policy two weeks ago and the suspension of the levy by the Federal Government last week.

 

Recall that in its initial circular dated May 6, 2024 and addressed to all deposit money banks, mobile money operators and payment service providers, the apex bank directed the deduction of the levy to be remitted to the National Cybersecurity Fund (NCF), administered by the Office of the National Security Adviser (ONSA).

May 20, 2024 Akwa Ibom State Ministry of Transport Lifts Ban On Freight and Heavy Goods Carriers
IFMUYONEWS

Akwa Ibom State Ministry of Transport Lifts Ban On Freight and Heavy Goods Carriers

the Commissioner, Akwa Ibom state Ministry of Transport, Rt. Hon ORMAN ESIN has lifted the ban on the activities of Freight and Heavy Goods Carriers of Nigeria in the state.

 

This was contained in a press release issued by the Ministry of Transport and made available to Inspiration FM.

 

The commissioner in the statement gave this directive following the meeting held with members of Freight, and other Transport Unions, Stakeholders in the Transport sector and the consultant on Road Tax, to regulate the activities of Freight and Heavy Goods Carriers of Nigeria in the State.

 

Recall that the operation of Freight and heavy goods-carriers of Nigeria had been put on hold due to misconceptions relating to their operations by the general public.

 

The Commissioner has set up a committee on the collection and distribution of single haulage between the state and some relevant stakeholders tocheckmate illegal activities.

May 6, 2024 IPMAN Partners NNPCL to End Lingering Fuel Scarcity
IFMUYONEWS

IPMAN Partners NNPCL to End Lingering Fuel Scarcity

Petroleum marketers have said the Nigerian National Petroleum Company Limited, NNPCL has opened its reserves across the federation to end the lingering fuel scarcity.

 

The National President of the Independent Petroleum Marketers Association of Nigeria, HAMMED FASHOLA and Petroleum Products Retail Outlets Owners Association of Nigeria, BILLY HILLY-HARRY, disclosed this in a separate statement after meeting with NNPCL.

 

FASHOLA said his members will meet today, Monday 6th May, 2024 to join NNPLC to end the fuel scarcity. He further urged Nigerians not to engage in panic buying of fuel as the product will be available nationwide.

 

On his part, HILLY-HARRY said the meeting between NNPLC and marketers had helped present a solution to the fuel scarcity.

April 29, 2024 Senate Calls for Concerted Efforts to Sustain Naira Stability
IFMUYONEWS

Senate Calls for Concerted Efforts to Sustain Naira Stability

the Nigerian Senate through its Committee on Finance has called for concerted efforts by all relevant stakeholders to rescue and sustain the stability of the naira.

 

The naira persisted in its decline against the US dollar within the official exchange framework, concluding at 1,309.88 naira on Thursday, April 25.

 

However, the naira, last week, recovered against the US dollar at the parallel market but began to depreciate again.

 

In a statement issued by the Chairman of the Committee, Senator SANI MUSA (APC, Niger East), said there was an urgent need for concerted efforts at tackling the instability and continuous depreciation of the naira.

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