![[UPDATED] Reps direct CBN to suspend cybersecurity levy](https://cdn.punchng.com/wp-content/uploads/2024/02/15181820/n.png)
[UPDATED] Reps direct CBN to suspend cybersecurity levy
The House of Representatives Thursday asked the Central Bank of Nigeria to withdraw the circular directing all banks to commence charging a 0.5 per cent cybersecurity levy on all electronic transactions within the country, The Nation reports. The motion on the urgent need to halt and modify the implementation of the cybersecurity levy was moved by the member representing the Obio/Akpor Constituency, Kingsley Chinda. “The levy shall be applied at the point of electronic transfer origination, then deducted and remitted by the financial institution. The deducted amount shall be reflected in the customer’s account with the narration, ‘Cybersecurity Levy,’” the circular partly read. “The CBN circular mandates all banks, other financial institutions and payments service providers to implement the Cybercrimes Act by applying the levy at the point of electronic transfer origination as “Cybersecurity Levy,” and remitting same.
Source:Punch
May 09, 2024 16:24 UTC
Google’s ‘Hustle Academy’ re-launched with AI focus to empower African SMBs
Google has announced the opening of applications for the 2024 cohort of its ‘Hustle Academy’, a program dedicated to accelerating the growth of small and medium-sized businesses (SMBs) in Sub-Saharan Africa. The ‘Hustle Academy’ aims to address this gap by providing comprehensive business education, mentorship, and networking opportunities. The ‘Hustle Academy’ has supported over 10,000 businesses who have gone ahead to raise funding and create jobs since inception. Participants will explore practical applications through modules like “Boost Your Productivity with AI” and “Marketing Strategy and AI,” learning how to save time and supercharge digital outreach. Applications for the 2024 Hustle Academy cohort are open to SMBs in Kenya, Nigeria, and South Africa, and the program will run through the end of the year.
Source:Nigerian Tribune
May 09, 2024 15:07 UTC
Lagooz Schools students shine in 2024 African Maths Olympiad contest
Two students from Lagooz Schools in Lagos, Demilade Kadiri and Chetachi Mbalu, won gold and bronze medals, respectively, in this year’s Africa Mathematics Olympiad competition held recently. Demilade, a JSS student, emerged as the overall best in Lagos State and third best nationwide, scoring 95 per cent, while Chetachi, who is in SS2 class and scored 80 per cent, won third place nationally. Lagooz Schools made this disclosure on Tuesday in a statement personally signed by its founder, Yomi Otubela, who is also the National President of the National Association of Proprietors of Private Schools (NAPPS). He said the entire Lagooz School community was proud of them and also congratulated them on the achievement. The Africa Mathematics Olympiad competition, according to organisers, is aimed at using mathematics to solve societal problems and also encouraging healthy competition among African youths, especially in secondary schools.
Source:Nigerian Tribune
May 09, 2024 08:43 UTC
2024 New Maruti Swift Vs Tata Punch: Small SUV Or Hatchback?
The Punch is slightly shorter than the new Swift but the Punch is wider and taller of course being a small SUV. While the Punch EV has a larger touchscreen, the Punch petrol has a standard 7inch one while the Swift has a 9 inch touch screen. The Swift and Punch have near similar wheelbase numbers but the Punch has an airier cabin along with the larger boot. The petrol Punch has an efficiency of 20.10 kmpl while the Swift has an efficiency of 25.72 kmpl with both having a 1.2l petrol engine. ALSO READ | Mahindra XUV 3XO Vs Brezza Vs Nexon Vs Venue Vs Sonet: Check The Features, Price And MoreCar loan Information:Calculate Car Loan EMI
Source:Punch
May 09, 2024 06:13 UTC
Abducted Indian nationals regain freedom, police seek public support
The command exclusively told our correspondent, on Tuesday, that the trio of Tejaram Chauham, Kaduwal Pradhan and Medani Kathiwada had been reunited with their families. “The three kidnapped Indian nationals have regained their freedom. “This is a call for you to provide valuable information that will lead to the arrest of the criminal suspects in the state,” Odutola urged the public. The abductors held Zhang captive for 10 days before he was found in a state forest. The Chinese national was reportedly rescued by police officers working in tandem with neighbourhood vigilantes.
Source:Punch
May 08, 2024 16:44 UTC
Tata Punch becomes India's favourite car in April, registers soaring sales
In a rare twist of fate, Maruti Suzuki cars, known for their consistent bestseller status, have yielded their throne to the Tata Punch for two consecutive months in the Indian passenger vehicle market. Tata Punch has been the best seller in the Indian passenger vehicle market for two consecutive months. Also check these Cars Find more Cars Tata Punch 1199.0 cc 1199.0 cc Petrol Petrol ₹ 6 - 10.10 Lakhs Compare View Offers Tata Punch CNG 1199 cc 1199 cc CNG CNG ₹ 7.09 - 9.68 Lakhs Compare View Offers Tata Punch EV 35 Kwh 35 Kwh 421 km 421 km ₹ 10.99 - 15.49 Lakhs Compare View Offers Nissan Magnite 999.0 cc 999.0 cc Petrol Petrol ₹ 6 - 11.11 Lakhs Compare View Offers Renault Kiger 999.0 cc 999.0 cc Petrol Petrol ₹ 6 - 11.23 Lakhs Compare View Offers Mahindra XUV 3XO 1197 cc 1197 cc Petrol Petrol ₹ 7.49 - 15.49 Lakhs Compare View OffersA pivotal factor contributing to the Punch's popularity lies in its competitive pricing strategy. Available in both petrol and CNG variants, the Punch offers versatility to cater to diverse consumer preferences. Watch: Tata Punch: First Drive ReviewBeyond its affordability, Tata has infused the Punch with a plethora of features, a hallmark of value for money in the eyes of Indian consumers.
Source:Punch
May 08, 2024 14:07 UTC
‘Hopeless and broken’: why the world’s top climate scientists are in despair
Here's what they said“Sometimes it is almost impossible not to feel hopeless and broken,” says the climate scientist Ruth Cerezo-Mota. The task climate researchers have dedicated themselves to is to paint a picture of the possible worlds ahead. The Intergovernmental Panel on Climate Change (IPCC) has convened thousands of experts in all these fields to produce the most authoritative reports available, which are approved by all governments. It remains a vital political target for many climate diplomats, anchoring international climate efforts and driving ambition. “[Climate change] is an existential threat to humanity and [lack of] political will and vested corporate interests are preventing us addressing it.
Source:The Guardian
May 08, 2024 13:51 UTC
Petroleum marketers knock FG policies, blames scarcity on low refining capacity
The Independent Petroleum Marketers Association of Nigeria has attributed the current fuel scarcity to the combination of low refining capacity and inconsistent government policies in the petroleum sector. “Government policies have also played a significant role in exacerbating the fuel scarcity situation. Inconsistencies in pricing regulations, particularly regarding PMS, have deterred private investors from participating in the importation and distribution of petroleum products. “Despite efforts by some independent marketers to import petroleum products, the unfavourable foreign exchange rates and high operational costs have rendered such ventures unprofitable. “The current situation highlights the urgent need for a comprehensive review of government policies and increased investment in refining capacity to ensure a stable and reliable supply of petroleum products across Nigeria.
Source:Punch
May 08, 2024 11:16 UTC
Tinubu returns to Nigeria on Wednesday – Spokesman
President Bola Tinubu will return to Nigeria on Wednesday, his media aide Bayo Onanuga disclosed on Tuesday. Tinubu is yet to return to Nigeria days after the World Economic Forum (WEF) in Saudi Arabia. Amid speculations, the Minister of State for Health and Social Welfare Tunji Alausa said President Bola Tinubu’s absence from the country is not due to medical reasons. But Alausa said contrary to speculations, Tinubu is not away from Nigeria on medical grounds. We have 220 million Nigerians and that’s what Mr President wants,” the minister said on Channels Television’s The Morning Brief.
Source:The Guardian
May 08, 2024 03:51 UTC
Top 10 vehicles in April: Tata Motors delivers knockout Punch
In April 2024, half of the top ten best-selling vehicles were SUVs, with the Tata Punch topping the list for the second consecutive month. Tata Punch continues to take the pole position as Tata Motors sold 19,158 units in April 2024. Tata Punch 19,158 17,547 2. Maruti Eeco 12,060 12,019Top 10 vehicles in April: Tata Punch leads the wayTata Punch is selling like hotcakes and clocked 19,158 units outdoing March 2024 figures by 1,611 units. Meanwhile, the Punch EV is offered from Rs 10.99 lakh to Rs 15.49 lakh, ex-showroom Delhi.
Source:Punch
May 07, 2024 17:57 UTC
Abducted Indian nationals regain freedom three days after
After being held captive for three days in the custody of their captors, the three Indian nationals who were kidnapped on May 3, 2024, on the Lagos/Ibadan Expressway were released on Monday. The Ogun State Police Command exclusively told our correspondent on Tuesday that the trio of Tejaram Chauham, Kaduwal Pradhan, and Medani Kathiwada had been reunited with their families. “The three kidnapped Indian nationals have regained their freedom. The abductors held Zhang captive for ten days before he was found in a state forest. The Chinese national was reportedly rescued by police officers working in tandem with neighbourhood vigilantes.
Source:Punch
May 07, 2024 17:22 UTC
Tata Punch remains the most popular model in April 2024
In second place was the Maruti WagonR with 17,850 units, followed by the Brezza. The Tata Punch was the best-selling model in India last month. Punch sales zoomed past Maruti Suzuki’s popular models like the WagonR, Swift and Brezza. Tata Motors sold 19,158 units of the Punch last month compared to 17,850 units of the WagonR. The Punch was on top of the sales charts in March 2024 with sales of 17,547 units.
Source:Punch
May 07, 2024 17:06 UTC
Nigeria raises cybersecurity levy on e-transfers by 900%
Nigeria’s Central Bank will begin the implementation of an amended 2015 Cybersecurity Act that will levy a 0.5% fee on all electronic transactions on May 20, an increase of 900% from an earlier levy of 0.005%. It means an electronic transfer of ₦1,000 will attract a ₦5 fee while a ₦100,000 transfer will attract a ₦500 fee. The value of electronic transactions in Nigeria rose by 66% to over ₦600 trillion in 2023, according to the Nigeria Inter-Bank Settlement System (NIBSS). The Cybersecurity Act was first passed in 2015 and introduced a 0.005% levy on electronic transfers. The cybersecurity levy will be remitted monthly to the National Cybersecurity Fund (NCF), managed by the NSA.
Source:The Guardian
May 07, 2024 14:35 UTC
Telcos need tariff hike to improve infrastructure – Rewane
The Chief Executive Officer of Financial Derivatives Company, Bismarck Rewane, said telecommunications companies need to increase tariffs to improve the quality of their services and attract more investments. The economist, who was a guest on Arise TV on Saturday, highlighted the urgent need for fresh investments to upgrade infrastructure and improve services. Rewane’s comments support the telcos’ push for cost-reflective tariffs, which they said were necessary due to adverse economic headwinds threatening their financial viability. He cautioned that failure to take prompt action could result in multiple telecom operators being forced to cease operations, thereby depriving millions of Nigerians of essential communication services. Izuagbe stressed that the current tariff regime is inadequate to cover the costs of service provision and urged regulatory bodies to address the industry’s challenges and provide support to operators to maintain service quality.
Source:Punch
May 07, 2024 14:11 UTC
JAMB’s fault? Discover 6 reasons you failed 2024 UTME
It’s no news that many candidates failed the just concluded Unified Tertiary Matriculation Examination (UTME). These are some common reasons you failed 2024 UTME. Lack of Adequate PreparationOne of the primary reasons students fail UTME is insufficient preparation. Neglecting Past QuestionsIgnoring past JAMB questions is a common mistake. Past questions provide valuable insights into the exam format, types of questions, and topics to focus on.
Source:Nigerian Tribune
May 07, 2024 09:41 UTC