Business
Over 500,000 jobs exist in Nigeria’s Data Protection sector – NDPB
Over 500,000 jobs exist in Nigeria’s Data Protection sector – NDPB
Over 500,000 direct and indirect jobs exist in Nigeria’s data protection sector, the Nigeria Data Protection Bureau (NDPB) has said.
The NDPB’s National Commissioner, Dr Vincent Olatunji, disclosed this at a one-day capacity building on data protection and privacy for members of the Nigeria Information Technology Reporters Association (NITRA) on Sunday in Abuja.
Olatunji said Nigerians should leverage opportunities that abound in the data protection ecosystem to earn a decent living.
The national commissioner said there was a huge gap in the data protection ecosystem that had the capacity to provide wealth and millions of jobs for Nigerians and promote the digital economy.
Across the globe, he said, people were losing jobs while others were being engaged in the digital economy sector.
To be part of people gaining jobs, he said Nigerians needed “to re-skill, learn digital skills because technology is changing, a new world is emerging with the Internet of Things, big data, 3D printing, and more.”
READ ALSO:
- Osimhen scores as Napoli end season with 2-0 win over Sampdoria
- Fuel: TUC demands pay rise as FG, labour meet again Tuesday
- Nigeria crash out of U-20 W’Cup, lose 0-1 to Korea
- New Ondo lawmaker appoints 14 aides
He said: “In Nigeria, we have about 500,000 data controllers and processors, and according to law, each of these data controllers is meant to have a Data Protection Officer (DPO) that ensures data protection compliance by the controller.
“In Nigeria presently, we are barely 10,000 certified DPOs, and that number is not commensurate with the number of data controllers in the country.”
Olatunji said the gap was huge, adding that Nigerians could develop themselves with skills to qualify as DPOs. According to him, the data protection sector is an open field that anyone can venture into as long as they can read and write.
He said: “In the past two years, the data protection ecosystem has created over 9,000 jobs, it is an ecosystem that can create many direct and indirect jobs.’’
The Lead, Strategy, Partnerships and Communications of NDPB, Officer I, Mrs Leena Abba, said data protection was important to reduce incidences of crime, ensure personal security, and enhance customer retention in terms of business engagement, among many other reasons.
Over 500,000 jobs exist in Nigeria’s Data Protection sector – NDPB
Business
CBN releases more dollars as naira weakens to 1,300/$
CBN releases more dollars as naira weakens to 1,300/$
The naira depreciated further against the United States dollar at the official market on Tuesday, closing at 1,300/$.
This came as the Central Bank of Nigeria stepped up efforts to stem the tide, selling more dollars to Bureau De Change operators.
The apex bank disclosed the dollar sale in a new circular referenced TEM/FEM/PUB/001/013 and uploaded to its website on Tuesday.
It was signed by the CBN Director, Trade and Exchange Department Dr Hassan Mahmud.
The apex bank said it was set to sell $10,000 to BDCs at N1,021 per dollar and directed the operators to sell at a spread not more than 1.5 per cent above the CBN rate.
Amid the development, the naira maintained a depreciation trend against the United States dollar on Tuesday, falling to N1,300 per dollar at the Nigerian Autonomous Foreign Exchange Market.
The new rate is N66 per cent weaker than N1,234 per dollar recorded on Monday.
A summary of the forex transaction showed that the intra-day high depreciated by N22, closing at N1,317 per dollar from N1,295 per dollar. The intra-day low however gained to N1,000 from N1,051/$.
READ ALSO:
- Large-scale earthquake hits Taiwan
- ‘Tiwa Savage paid IT expert to wipe sextape off internet’
- Senate backs education minister over 18-year entry age into varsities
While the total daily turnover increased slightly to $133.65m from $110.17m on Monday.
At the parallel market, currency traders sold the dollar between the rate of N1,300 and N1,320 on Tuesday from N1,260 recorded on Monday.
Earlier this month, the apex bank sold $10,000 to BDCs at a rate of N1101/$ and directed the BDCs to sell to eligible customers at a rate not exceeding 1.5 per cent above the purchase price.
This initiative represents the second such occurrence this month and the fourth instance this year, underlining the CBN’s proactive strategy in managing currency volatility and ensuring the availability of essential foreign exchange.
The PUNCH reported on Monday that the Naira depreciated against the United States dollar reaching an exchange rate of N1,234 at the official foreign exchange market. This represents a decline of N65 or approximately 5.26 per cent from the previous rate of N1,169.99/$1 recorded on Friday. The fluctuation in exchange rates can have significant implications for trade and economic stability.
The statement read, “We write to inform you of the sale of $10,000 by the CBN to BDCs at the rate of 1,021/$. The BDCs are in turn to sell to eligible end users at a spread not more than 1.5 per cent of the purchase price.”
This recent move follows the CBN’s resolve to continue to defend the naira as stated by the bank earlier.
The CBN directed all eligible BDCs to commence payment of naira deposit into the designated CBN accounts from April 22, 2024.
It also asked the operators to submit proof of payment and other documents at the appropriate CBN branches for disbursement.
CBN releases more dollars as naira weakens to 1,300/$
Business
CBN sells dollar to BDCs at N1,021/$1
CBN sells dollar to BDCs at N1,021/$1
The Central Bank of Nigeria (CBN) has announced a $10,000 sale to each licensed Bureau De Change (BDC) operator nationwide.
The apex bank has made its second intervention this month.
The CBN detailed the action in a circular issued to the President of the Association of Bureau De Change Operators (ABCON).
BDCs can purchase dollars at a rate of N1,021 per dollar.
READ ALSO:
- Just in: Ex-Imo Gov Ihedioha heads for LP, dumps PDP
- Policeman shot dead corps member at LAUTECH convocation party
- Tinubu approves palliative for traditional, religious institutions
They are, therefore, authorized to sell this forex to eligible end users at a maximum spread of 1.5 percent above the purchase price, translating to a maximum selling price of N1,036.15 per dollar.
On the 8th of April 2024, the CBN sold $10,000 FX to each of the 1,588 participating BDCs at a fixed rate of N1101 per US dollar at a spread capped at 1.5 percent above the purchase price from the CBN (approximately N1,116.15 per dollar). This limited the potential profit BDCs could make on each transaction
The latest circular has instructed all eligible BDCs to commence immediate payment of the Naira equivalent for their allocated $10,000 into designated CBN Naira Deposit Accounts.
CBN sells dollar to BDCs at N1,021/$1
Business
Dangote refinery further drops diesel price to N940/litre
Dangote refinery further drops diesel price to N940/litre
Dangote Petroleum Refinery has announced a further reduction in the price of both diesel to N940 per litre.
This is coming a few days after the refinery reduced diesel price to N1,000 per litre.
It also gave a new price for aviation fuel, pegging it at N980 per litre.
It disclosed this in a statement on Tuesday, saying the diesel price change of N940 is applicable to customers buying five million litres or more from the refinery, while those purchasing one million litres or more will pay N970.
It said this marked the third major reduction in diesel price “in less than three weeks when the product sold at N1,700 to N1,200 and also a further reduction to N1,000 and now N940 for diesel and N980 for aviation fuel per litre”.
Speaking on the new development, Anthony Chiejina, head of communication, Dangote Group, said the new price was in tandem with the company’s commitment to alleviating the effect of economic hardship in Nigeria.
“I can confirm to you that Dangote Petroleum Refinery has entered a strategic partnership with MRS Oil and Gas stations, to ensure that consumers get to buy fuel at affordable price, in all their stations, be it Lagos or Maiduguri,” he said.
“You can buy as low as one litre of diesel at N1,050 and aviation fuel at N980 at all major airports where MRS operates.”
He said the partnership would be extended to other major oil marketers.
“The essence of this is to ensure that retail buyers do not buy at exorbitant prices,” he said.
“The Dangote Group is committed to ensuring that Nigerians have a better welfare and as such, we are happy to announce this new prices and hope that it would go a long way to cushion the effect of economic challenges in the country.”
Director-General of the Manufacturers Association of Nigeria (MAN), Ajayi Kadiri, said the decision “to first crash the price from about N1,750/litre to N1,200/litre, N1,000/litre and now N940 is an eloquent demonstration of the capacity of local industries to positively impact the fortunes of the national economy.
“The trickle-down effect of this singular intervention promises to change the dynamics in the energy cost equation of the country, in the midst of inadequate and rising cost of electricity.”
-
Education4 days ago
Why we charge N42m fees for primary school pupils — Charterhouse Lagos
-
Auto4 days ago
We expect massive roll-outs of Nigeria-made cars by December 2024 – Minister
-
News5 days ago
Updated: More trouble for Yahaya Bello as Immigration places him on watch list
-
metro7 days ago
Edo court sentences three to death by hanging for kidnapping, murder
-
International5 days ago
Updated: Tragedy hits Kenya, Defence chief, nine others die in military helicopter crash
-
metro4 days ago
JUST IN : Borrow pit collapses, kills seven Qur’anic school pupils
-
News3 days ago
We’re not part of Yoruba Nation agitation, says MKO Abiola family
-
metro2 days ago
How gunmen killed Babcock university lecturer, abducted two – Police