Headlines
CBN Releases 16 Banking Transactions Not Affected by Cybersecurity Levy
Following the Central Bank of Nigeria’s directive that all banks should commence charging a 0.5 per cent cybersecurity levy on all electronic transactions within the country, below are 16 banking transactions that are exempted from the CBN’s new cybersecurity levy:
- Loan disbursements and repayments
- Salary payments
- Intra-account transfers within the same bank or between different banks for the same customer
- Intra-bank transfers between customers of the same bank
- Other Financial Institutions instructions to their correspondent banks
- Interbank placements,
- Banks’ transfers to CBN and vice-versa
- Inter-branch transfers within a bank
- Cheque clearing and settlements
- Letters of Credits
- Banks’ recapitalisation-related funding – only bulk funds movement from collection accounts
- Savings and deposits, including transactions involving long-term investments such as Treasury Bills, Bonds, and Commercial Papers.
- Government Social Welfare Programmes transactions e.g. Pension payments
- Non-profit and charitable transactions, including donations to registered non-profit organisations or charities
- Educational institutions’ transactions, including tuition payments and other transactions involving schools, universities, or other educational institutions
- Transactions involving bank’s internal accounts such as suspense accounts, clearing accounts, profit and loss accounts, inter-branch accounts, reserve accounts, nostro and vostro accounts, and escrow accounts.
The Rivers State House of Assembly has accused Governor Siminalayi Fubara and his deputy Ngozi Odu of gross misconduct.
Twenty-six members of the Assembly raised the allegation in a notice sent to the speaker Martin Amaewhule and obtained by Channels Television.
They said the action was “in compliance with Section 188 of the Constitution of the Federal Republic of Nigeria, 1999 (as amended) and other extant laws”.
The lawmakers accused Fubara among other things of reckless and unconstitutional expenditure of public funds, hindering or obstructing the Rivers State House of Assembly which is another arm of the government, and the appointment of persons to occupy offices/positions in the Rivers State Government without allowing for the requirement of screening and confirmation.
Other accusations against the Rivers governor include the seizure of salaries, allowances, and funds standing to the credit of the legitimate Rivers State House of Assembly and the seizure of the salary of the Clerk of the Rivers State House of Assembly Emeka Amadi.
They also accused Odu of “conniving and supporting the illegal appointment of persons to occupy offices/positions in the Rivers State Government without allowing for the requirement of screening and confirmation”.
Upon receipt of the notice, Amaewhule forwarded the same to Governor Fubara and said the allegation was raised by “not less than one-third (1/3) of the membership of the Rivers State House of Assembly”.
Speaker Amaewhule asked Fubara to “reply to the allegations made against you in the said ‘Notice of Allegations of Gross Misconduct’ accordingly”.
“In doing this, your attention is drawn to the provisions of Section 188(3) of the Constitution of the Federal Republic of Nigeria, 1999 (as amended), which provides thus: ‘Within 14 days of the presentation of the notice to the Speaker of the House of Assembly (whether or not any statement made by holder of the office in reply to the allegation contained in the notice) the House of Assembly shall resolve by motion, without any debate whether or not the allegation shall be investigated’,” the speaker said in a letter sent to Fubara.
Headlines
Again, El-Rufai Attacks Tinubu over Chicago Varsity Certificate Scandal, Calls President Ungrateful
A former Governor of Kaduna State Nasir El-Rufai, said he and his allies had hoped that President Bola Tinubu would replicate his achievements in Lagos at the national level but failed woefully.
El-Rufai explained that despite concerns about Tinubu’s alleged certificate forgery from Chicago State University during the 2023 presidential election they backed him, believing he could transform Nigeria as he did Lagos.
“What pains me is that the government we supported and had confidence in would do well, because we saw what Tinubu did in Lagos despite his challenges,” El-Rufai told BBC Hausa in an interview on Saturday.
“We all know about his issues in Chicago, but we thought if he could replicate his work in Lagos for Nigeria, let’s support him. However, he failed,”
El-Rufai called on opposition figures, including Atiku Abubakar, Peter Obi, Rotimi Amaechi, and Rauf Aregbesola, to unite under the Social Democratic Party (SDP) to salvage the country.
“What I want and pray for is for all opposition leaders—Atiku Abubakar, Peter Obi, Rotimi Amaechi, and Rauf Aregbesola—to join the SDP,” he added.
El-Rufai also dismissed accusations that he betrayed former Vice President Atiku Abubakar, stating that his past disagreements with Atiku during the Obasanjo administration were based on principle, not personal animosity.
“I never betrayed Atiku Abubakar because we didn’t meet in politics; we met at work. In work, if I see that he didn’t do well, whoever he is, I will tell him. I told Buhari, and I even took Buhari to court on the new naira issue,” he said.
“When Obasanjo and Atiku were having issues, those of us working with Obasanjo looked at the issues between them and said Obasanjo was more right. It was not about north and south; Obasanjo was right. Atiku and I are now together, and if I betrayed him, why are we together now.”
United States Secretary of State, Marco Rubio has announced that President Donald Trump’s administration is expelling South Africa’s ambassador to Washington.
Rubio announced this on Friday, accusing the envoy of hating the country and President Trump.
“South Africa’s Ambassador to the United States is no longer welcome in our great country,” Rubio posted on X.
“Ebrahim Rasool is “a race-baiting politician who hates America and hates @POTUS,” he said, referring to Trump by his White House X account handle.
“We have nothing to discuss with him and so he is considered PERSONA NON GRATA.”
The expulsion of the ambassador comes amid rising tensions between Washington and Pretoria.
Trump in February this year froze US aid to South Africa, citing a law in the country that he alleges allows land to be seized from white farmers.
Trump further fueled tensions last week, when he said that South Africa’s farmers were welcome to settle in the United States after repeating his allegation that the government was “confiscating” land from white people.
