Business
FG uncovers 476 websites waging war against Buhari
The Federal Government says about 476 news websites have been found to be engaged in churning out fake news to fight the Buhari administration.
Minister of Information and Culture, Alhaji Lai Mohammed, disclosed this on Monday in Abuja when he received officials of the Nigerian Institute of Public Relations on a courtesy visit
He said the latest of the hatchet job was the fake publication on President Muhammadu Buhari’s mental status.
Mohammed said, “It will amaze you that recently we unveiled almost 476 online publication sites that are dedicated to daily engaging in churning out fake news to fight the government.
“The latest which I found ridiculous is the one that said days ago, that they had information that when Mr President was in the UK the last time, he was advised to step down because he could not even recognise members of his immediate family.
“I begin to wonder how they can go this far, simply because they know that people are gullible and they will make the fake news to go viral.”
The minister noted that fake news was taking a new dimension and threatening the existence of the country.
He said the debilitating effects of the menace was not only on the government but on every Nigerian.
Mohammed noted that many marriages had been wrecked as a result of fake news, particularly through the social media while people had lost their lives and many others committed suicide.
He recalled a recent report where fake news almost led to killing of 600 applicants by scammers.
He said, “A young man sent out letters to 600 people to enlist into Nigerian Army and collected N10,000 from each of them.
“He asked them to report at the Okitipupa Army Barracks in Ondo state on a particular day to collect their letters of appointment.
“At the same time, he alerted the Commandant of the Barrack that Boko Haram insurgents were coming to invade the barrack on the same day.”
Mohammed said his ministry had spearheaded the campaign against fake news years back before the menace got so bad.
He said the NIPR had critical role to play in ensuring the fight against fake news.
The minister said, “This is where your body comes in because you have a powerful platform to ensure that the menace of fake news is confronted squarely.
“Regrettably, however, members of this institute have been found wanting, they have most times place pecuniary interest and motives above patriotism and nationalism
“You will recall the sad incidence of the P&ID saga.
“It was a member of this institute, a firm of PR consultants that was hired to give impression to the world that Nigeria entered into agreement with P&ID and renege and have to pay about nine billion dollars.”
Business
Finally, NERC unbundles TCN, creates new system operator
Finally, NERC unbundles TCN, creates new system operator
The Nigerian Electricity Regulatory Commission (NERC) has set up the Nigerian Independent System Operator of Nigeria Limited (NISO) as it unbundles the Transmission Company of Nigeria (TCN).
The transmission leg of the power sector has over the years been seen as weakest link with obsolete equipment.
The unbundling announcement is contained in an Order dated April 30, 2023 and jointly signed by NERC chairman, Sanusi Garba, and vice chairman, Musiliu Oseni.
By this order, the TCN is expected to transfer all market and system operation functions to the new company.
The commission had previously issued transmission service provider (TSP) and system operations (SO) licences to the TCN, in accordance with the Electric Power Sector Reform Act.
The Electricity Act 2023, which came into effect on June 9, provided clearer guidelines for the incorporation and licensing of the independent system operator (ISO), as well as the transfer of assets and liabilities of TCN’s portion of the ISO.
In the circular, the commission ordered the Bureau of Public Enterprises (BPE) to incorporate, unfailingly on May 31, a private company limited by shares under the Companies and Allied Matters Act (CAMA), 2020.
NERC said the company is expected “to carry out the market and system operation functions stipulated in the Electricity Act and the terms and conditions of the system operation licence issued to the TCN.
“The name of the company shall, subject to availability at Corporate Affairs Commission, be the Nigerian Independent System Operator of Nigeria Limited (“NISO”),” NERC said.
Citing the object clause of the NISO’s memorandum of association (MOU) as provided in the Electricity Act, NERC said the company would “hold and manage all assets and liabilities pertaining to market and system operation on behalf of market participants and consumer groups or such stakeholders as the Commission may specify.”
Business
Naira depreciates again, trades at N1,402/$
Naira depreciates again, trades at N1,402/$
The Nigerian currency, naira, on Thursday slightly depreciated at the official market, trading at N1,402.67 to the dollar.
Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), showed that the naira lost N11.71
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This represents a 0.84 per cent loss when compared to the previous trading date on Tuesday April 30, when it exchanged at 1,390.96 to a dollar.
However, the total daily turnover increased to 232.84 million dollars on Thursday, up from 225.36 million dollars recorded on Tuesday.
Meanwhile, at the Investor’s and Exporter’s (I&E) window, the naira traded between 1,445.00 and N1,299.42 against the dollar.
Naira depreciates again, trades at N1,402/$
Auto
Appeal court takes over NURTW case as NIC withdraws
Appeal court takes over NURTW case as NIC withdraws
The National Industrial Court has withdrawn from a case involving Alhaji Najeem Usman Yasin, Board of Trustees chairman of the National Union of Road Transport Workers (NURTW), and Alhaji Tajudeen Ibikunle Baruwa’s ambition to return as president of the union over lack of jurisdiction.
The industrial court’s decision was made to avoid conflict with the Court of Appeal, where the matter is already being heard.
Before the NIC announced its decision to hands-off the case, the defendants’ counsel, Mr. O.I. Olorundare SAN, had informed the court that the matter is currently before the Court of Appeal, Abuja division, and that the industrial court could not continue to adjudicate on the same matter.
The counsel cited authorities to support his claim, adding that the National Industrial Court does not have concurrent jurisdiction with the Court of Appeal.
The presiding judge, O.O. Oyewunmi, struck out the case, stating that the Appeal Court had taken over the matter and that the Industrial Court must respect the hierarchy of courts.
Alhaji Yasin and six others took the case to the Appeal Court, challenging the decision of the industrial court recognising a delegates’ conference held on May 24, 2023, where Baruwa was proclaimed as President of the union for a second term in office.
With the latest NIC judgement, both parties will now proceed to defend their positions at the Court of Appeal and await the final judgement.
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