CBN directs banks to start deducting cybersecurity levies from customers
Business
FG releases N6.25bn for Katsina cattle
The Federal Government has released N6.25 billion for the establishment of cattle ranches in local government areas affected by banditry in the state, according to Katsina State Deputy Governor, Alhaji Mannir Yakubu.
Yakubu, who is also Commissioner for Agriculture and Rural Development, disclosed this during the Ranch Stakeholders Development Meeting in Katsina on Monday.
He said that the frontline local government areas where grazing reserves would be established were Jibia, Batsari, Dutsinma, Safana, Danmusa, Kankara, Faskari and Sabuwa Dandume among others.
He said part of the funds would be used to construct schools, health centres and veterinary clinics in the affected communities.
The deputy governor said that the state government would engage reputable contractors to handle the projects.
He said the federal and the state governments were determined to ensure that peace and stability were restored in areas affected by banditry, cattle rustling, kidnapping and other criminalities.
“We are therefore soliciting for the support and cooperation of the affected communities to provide suitable sites for the execution of these projects,” Yakubu said.
Business
CBN directs banks to start deducting cybersecurity levies from customers
The apex bank announced this on Monday, May 6, 2024, in a circular signed by Chibuzor Efobi, Director of Payments System Management, and Haruna Mustafa, Director of Financial Policy and Regulation.
Business
Forex: FG to delist naira from P2P platforms
Forex: FG to delist naira from P2P platforms
The Federal Government is set to delist the naira from all Peer-to-Peer platforms to reduce the manipulation of the local currency value in the foreign exchange market.
Director General of the Securities and Exchange Commission, Emomotimi Agama, made this known on Monday at a virtual conference with blockchain stakeholders.
The goal of this resolution is to combat manipulation of the value of the local currency in the foreign exchange market.
In past months, the nation’s regulatory bodies have started looking into and closely examining cryptocurrency exchanges.
This is part of a number of regulations to be rolled out in the coming days.
He said, “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 decried how some market players were manipulating the value of the naira.
This, he said, was why the commission was “seeking collaboration and help in making sure that the crypto environment is respected globally”.
Business
Ikeja Electric cuts tariff for Band A customers
Ikeja Electric cuts tariff for Band A customers
The Ikeja Electricity Distribution Company has announced a reduction in the tariff for customers under Band A classification from N225 per kilowatt-hour to N206.80kw/h
This is coming about a month after the Nigerian Electricity Regulatory Commission (NERC) approved an increase in electricity tariff for customers under the Band A category to N225 per kwh — from N66.
The commission has clarified that customers under Band A receive between 20 and 24 hours of electricity supply daily.
Ikeja Electric said in a circular on Monday the cut in the new tariff rate would take effect from May 6, 2024.
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