Business
Twitter, Facebook, others must delete illegal content within 24 hours – FG
The Federal Government says all online platforms including Facebook and Twitter must within 24 hours delete any illegal content.
It also directed them to immediately register with the Corporate Affairs Commission to operate in Nigeria.
This came on Monday in a statement containing a code of practice for all online platforms operating in Nigeria.
The statement signed by Hadiza Umar, head of corporate affairs and external relations at the National Information Technology Development Agency (NITDA), said the code of practice was intended to guide the operations of interactive computer service platforms/internet intermediaries.
The agency said the code was developed with input received from online platforms such as Twitter, Facebook, WhatsApp, Instagram and Google.
The code of practice, according to the agency, will hold online platforms accountable for unlawful and harmful information on their platforms.
The development is a fresh move by the FG to regulate online platforms, amid concerns that the President Muhammadu Buhari’s administration is clamping down on free speech and internet freedom — a move which the government has denied.
This is coming after a six-month ban on Twitter operations in Nigeria, which ended in January 2022, over what the federal government described as “persistent use of the platform for activities that are capable of undermining Nigeria’s corporate existence”.
As part of the conditions, internet platforms must register with the CAC, comply with appropriate taxation policies, and avoid prohibited content.
The regulations also include policies on pornography as well as issues around cybercrime.
The document stated, “Abide by Nigerian laws and not deploy or modify their platform in any way that will undermine or interfere with the application and/or enforcement of the law.
“Act expeditiously upon receiving a Court order directing a Platform to provide any information under its domain or any assistance to any authorised government agency for the purpose of carrying out an investigation, combating cybercrimes, or prosecuting an offence.
“Act expeditiously upon receiving a notice from a user, or an authorized government agency of the presence of an unlawful content on its Platform. A platform must acknowledge the receipt of the complaint and take down the content within 24 hours.
“Act expeditiously to remove, disable, or block access to non-consensual content that exposes a person’s private areas, full or partial nudity, sexual act, deepfake, or revenge porn, where such content is targeted to harass, disrepute, or intimidate an individual. A platform must acknowledge the receipt of the complaint and take down the content within 24 hours.”
Online platforms are also expected to “prioritise authentic information in search, feeds, or other distribution channels; trace, expose, penalise, and close accounts and sources that amplify disinformation and misinformation”.
NITDA added that the FG remained committed towards ensuring that Nigeria fully harnesses the “potential of the digital economy and safeguard the security and interest of its citizens in the digital ecosystem.”
According to the agency, the code of practice “shall come into effect on the date issued by NITDA”.
In June 2021, Minister of Information and Culture, Lai Mohammed, had asked the National Assembly to enact a law to regulate online media.
He told the House of Representatives that the National Broadcasting Commission (NBC) Act should be amended to empower the agency to regulate all social and online media platforms in the country.
The amendment to the NBC ACT, which was being considered by the lower legislative chamber at the time, was later suspended following public outrage.
Railway
Lagos Rail Mass Transit part of FG free train ride – NRC
Lagos Rail Mass Transit part of FG free train ride – NRC
The Nigerian Railway Corporation (NRC) has disclosed that the Lagos Rail Mass Transit (LRMT) trains are included in the Federal Government’s free train ride initiative for the Christmas and New Year celebrations.
The LRMT, which currently includes the Phase 1 Blue Line Rail and the Phase 1 of the Red Line Rail, operates under the Lagos Metropolitan Area Transport Authority (LAMATA).
This announcement was made by Ben Iloanusi, the Acting Managing Director of the NRC, during an interview on NTA News TV on Friday, following the launch of the initiative earlier that day.
While Iloanusi stated that Phase 1 of both the Blue Line and Red Line Rail projects are part of the program, LAMATA has yet to confirm this inclusion.
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Iloanusi outlined the other routes benefiting from the scheme, which include the Lagos-Ibadan Train Service, Kaduna-Abuja Train Service, Warri-Itakpe Train Service, Port Harcourt-Aba Train Service, and the Bola Ahmed Tinubu Mass Transit in Lagos. Notably, little was previously known about the Bola Ahmed Tinubu Mass Transit service until this disclosure.
“Let me mention the routes where this free train service is happening. We have the Lagos-Ibadan Train Service, we have the Kaduna-Abuja Train Service, we have the Warri-Itakpe Train Service, we have the Lagos Rail Mass Transit trains, we have the Port Harcourt-Aba Train Service, and we have what we call the Bola Ahmed Tinubu Mass Transit, which is also in Lagos,” he stated.
Iloanusi provided operational updates, stating that passengers nationwide can access free tickets online or, for those unable to do so, at train stations where they will be profiled and validated.
He noted that passengers using NRC-managed services (excluding the Lagos Rail Mass Transit) should reserve tickets via the official website, www.nrc.gov.ng, with a valid ID required. He also advised travelers to plan, arrive on time, and bring valid identification.
Lagos Rail Mass Transit part of FG free train ride – NRC
Business
NNPC denies claim of Port Harcourt refinery shutdown
NNPC denies claim of Port Harcourt refinery shutdown
The Nigerian National Petroleum Company Limited (NNPCL) has denied claims in media reports that the newly refurbished Port Harcourt refinery has shut down.
The national oil company denied the claim in a press release issued by its Chief Corporate Communications Officer, Olufemi Soneye, on Saturday.
Soneye said the claim was false and urged Nigerians to disregard it. He stressed that the Port-Harcourt Refinery is fully operational.
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The statement read, “The attention of the Nigerian National Petroleum Company Limited (NNPC Ltd.) has been drawn to reports in a section of the media alleging that the Old Port Harcourt Refinery which was re-streamed two months ago has been shut down.
“We wish to clarify that such reports are totally false as the refinery is fully operational as verified a few days ago by former Group Managing Directors of NNPC.”
He noted that preparation for the day’s loading operation is currently ongoing, and added that claims of the shutdown are “figments of the imagination of those who want to create artificial scarcity and rip-off Nigerians.”
NNPC denies claim of Port Harcourt refinery shutdown
Business
CBN permits BDCs to buy up to $25,000 FX weekly from NFEM
CBN permits BDCs to buy up to $25,000 FX weekly from NFEM
The Central Bank of Nigeria (CBN) has granted Bureau de Change (BDC) operators temporary permission to purchase up to $25,000 weekly in foreign exchange (FX) from the Nigerian Foreign Exchange Market (NFEM).
The Central Bank of Nigeria (CBN) has granted Bureau de Change (BDC) operators temporary permission to purchase up to $25,000 weekly in foreign exchange (FX) from the Nigerian Foreign Exchange Market (NFEM).
This move, detailed in a circular dated December 19, 2024, is designed to meet seasonal retail demand for FX during the holiday period.
The circular was signed by T.G. Allu, on behalf of the Acting Director of the Trade and Exchange Department.
The arrangement will be in effect from December 19, 2024, to January 30, 2025.
Under the directive, BDCs may purchase FX from a single Authorized Dealer of their choice, provided they fully fund their accounts before accessing the market.
Transactions to occur at the prevailing NFEM rate
The transactions will occur at the prevailing NFEM rate, and BDCs are required to adhere to a maximum 1% spread when pricing FX for retail end-users.
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All transactions conducted under this scheme must be reported to the CBN’s Trade and Exchange Department.
The circular read in part:
“In order to meet expected seasonal demand for foreign exchange, the CBN is allowing a temporary access for all existing BDCs to the NFEM for the purchase of FX from Authorised Dealers, subject to a weekly cap of USD 25,000.00 (Twenty-five thousand dollars only).
This window will be open between December 19, 2024 to January 30, 2025.
“BDC operators can purchase FX under this arrangement from only one Authorized Dealer of their choice and will be required to fully fund their account before accessing the market at the prevailing NFEM rate. All transactions with BDCs should be reported to the Trade and Exchange department, and a maximum spread of 1% is allowed on the pricing offered by BDCs to retail end-users.”
The CBN assured the general public that PTA (Personal Travel Allowance) and BTA (Business Travel Allowance) remain available through banks for legitimate travel and business needs.”
These transactions are to be conducted at “market-determined exchange rates” within the NFEM framework.
This initiative reflects the CBN’s strategy to stabilize the FX market and manage seasonal surges in demand.
CBN permits BDCs to buy up to $25,000 FX weekly from NFEM
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