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CWAI Names NITDA As Dev’t, Regulatory Agency that Encapsulates Other Sectors

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The National Information Technology Development Agency (NITDA) established by the NITDA Act of 2007 to regulate standards, guidelines and frameworks for the development and standardization of Information Technology practices in Nigeria, is also clamouring for the actualization of the Bill at the National Assembly for the last five years (since 2021).

The NITDA Bill, first proposed in 2021, seeks to repeal the National Information Technology Development Act No. 28 of 2007, and enact the National Information Technology Development Agency Act.

The amendments in the proposal include provisions for new license categorizations, licensing fees, 1% profit-before-tax levies for companies with revenues higher than 100 million naira, and prison sentences for defaulting parties.

In 2022, the Federal Executive Council (FEC) considered the Bill and moved a step further for its entry to the National Assembly. On December 23, 2022, at the National Assembly, a public hearing was held where stakeholders in Nigeria’s technology ecosystem weighed in on the Bill.

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Since its announcement that year, the Bill has generated a healthy amount of controversy surrounding its purpose and compatibility with other technology-related bills, most notably the recently proposed startup bill.

Among the various submissions at the National Assembly are that Section 6(a) of the existing Act provides that NITDA is both a development and regulatory agency in the ICT sector.

However, the argument that NITDA is not a regulator was noted to be incorrect, and a total of thirty-one (31) stakeholders made submissions and presentations on the Bill. But out of this number, seventeen (17) were in support of the Bill, while fourteen (14) were opposed to it.

Those in favour based their support on the reason that the Bill provided for the development of the measures that would adequately regulate digital infrastructure, fast-track Nigeria’s transition into a leading digital economy, foster innovation and creativity, empower businesses in the country, improve the process of issuing and authenticating good character certificates and promote the use of technology in education and other sectors.

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The Committee recommended to the Senate that the Bill be passed after considering the comments and opinions of stakeholders therein. The Bill states that the Senate Committee on ICT and Cyber Security was referred to as “A Bill for an Act to Repeal the National Information Technology Development Agency Act No. 28, 2007 and Enact the National Information Technology Development Agency Act to provide the Administration, Implementation and Regulation of Information Technology Systems and Practices, as well as the Digital Economy in Nigeria and for Related Matters, 2023 (SB1082), having considered the same, report favourably thereon recommended that the Senate pass the Bill as amended,” as stated in the Committee’s report during the second reading.

There was no time that the Bill was meant to usurp the powers of other regulators and make NITDA a super regulator in the ICT industry. A lot of stakeholders also said the Bill has the potential to reverse the gains delivered and made in the digital economy already. However, some stakeholders, on the other hand, agreed that the Bill has a lot of merit and that it would sanitize the industry and bridge the knowledge gap between Nigeria and other developed nations in digital economy.

The Citizens Watch Advocacy Initiative (CWAI), a civil society organization that champions accountability, good governance and transparency in Nigeria, believes that the Bill, if passed into law, has the enormous positive impact to the telecommunication and ICT industry in Nigeria, as it will ultimately lead to increase in the confidence of both local and international investors in the telecom and ICT sector of the Nigerian economy, thereby transforming the development agency to a regulator which will enhance the activities of other sectors concerned like the banking, financial services, insurance, healthcare, commerce education, agriculture, telecommunications, etc.

The role of NITDA under the proposed Act would have no direct conflicts with other regulators in the industry as being canvassed by naysayers. Accordingly, NITDA 2022 Bill will stabilize the regulatory environment in the telecom sector in Nigeria and attract the much needed foreign direct investments as well as domestic investments in the telecom and ICT sector in the country.

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In a press release signed by the Executive Secretary of CWAI, Omoba Kenneth Aigbegbele, he asserted that from their investigation, the Bill seeks to enact an Act that will empower NITDA to provide for the administration, implementation and regulation of information technology systems and practice in Nigeria, which will automatically transform NITDA from a mere development agency to a regulatory agency in the sector that needs all the support, cooperation of Nigerians and stakeholders.

It is the first of its kind in the annals of history that will bridge the digital knowledge base of the country and impact the growth of the sector holistically in all spheres. The statement further added that the essence and purpose of the Bill is to create an effective, impartial, and independent regulatory framework for the development of the Nigerian information technology sector and digital economy.

Having been convinced about the proactive essence of the Bill, CWAI categorically states that the proposed NITDA Bill is focused on tax startups and in Part VI, Section 16, the Bill provides for the creation of the NITDA Fund, which will be used holistically for the “advancement of digital economy and related purposes,” and nothing more.

CWAI also notes that the skills deficit in human capital that hinders the country from thriving in the global digital economy would be overcome once and for all, as well as this would raise global digital competence in the country in the future, thereby expanding the service sector.

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In view of this, CWAI enjoins the tech-ecosystem and techpreneurs to raise their voices and join the clarion call for all hands to be on deck for Nigeria to be able to achieve a large value chain that facilitates youth engagement, entrepreneurship development, the MSME development and women empowerment; which will provide and empower a rich, vibrant local industry of digital training providers with globally recognized standards attainable that can best compete anywhere. Therefore, recognizing and giving NITDA the required stakeholders’ support and engagement to drive this new initiative that will make the actualization of the Bill possible and acceptable to all.

CWAI therefore recognizes that NITDA has consistently driven an information technology policy that is geared towards the enhancement of Nigeria’s global acceptability and certification in the digital economy, where the country’s local, foreign partners and stakeholders are carried along in an effective, efficient and affordable value chain for the growth of the ICT sector and the telecom industry, creating and empowering Nigeria’s digital potentials and creating jobs for millions of youths in the country and the economic diversification for emerging technologies.

CWAI is holistically in support of NITDA’s drive, innovation, and ideas in the formulation of digital policies that will put Nigeria on the global arena and marketplace of the future. CWAI, therefore, advocates for NITDA’s regulatory status so as to accelerate other growing sectors of the economy.

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SAD! 10 Family Members Die In Private Jet Crash

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A tragic plane crash in the city of Gramado, southern Brazil, has claimed the lives of ten family members of influential businessman, Luiz Claudio Galeazzi.

The crash involved a private plane piloted by Brazilian businessman Luiz Claudio Galeazzi. He, along with his wife, three daughters, and other family members, died in the crash, according to a statement from his company.

The small aircraft reportedly struck a building’s chimney, as well as a house and a shop, before crashing. Local authorities confirmed that 17 people on the ground were injured, with two in serious condition.

Mr. Galeazzi, 61, was reportedly taking his family on a trip to Jundiaí, São Paulo state. All ten victims were members of his family, as confirmed by the Governor of Rio Grande do Sul, Eduardo Leite.

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The plane had taken off in poor weather conditions. The aircraft flew for about 3 kilometers (1.8 miles) before crashing into the urban area just minutes after takeoff on Sunday morning.

An eyewitness, Nadia Hansen, described hearing the plane revving up before it hit the building. “At the time, it was revving up. You could see that it was accelerating a lot,” Hansen said. “Then there was a bang as it hit the building and then it passed close to my house and then it fell, and I thought it had dropped in front of the house.”

Emergency workers were seen at the crash site, attending to the wreckage and debris from damaged buildings. Galeazzi was the CEO of Galeazzi & Associados, a corporate restructuring and crisis management firm based in São Paulo. His company expressed its condolences in a LinkedIn statement, honoring Galeazzi’s dedication to his family and his professional legacy.

The crash occurred near the center of Gramado, hitting a house, furniture store, and hotel. The cause of the accident is under investigation by the Aeronautical Accident Investigation and Prevention Center (Cenipa). Governor Leite assured that the state was mobilized to provide necessary assistance.

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Gramado, a well-known tourist destination, has recently been hit hard by devastating flooding earlier this year, which caused extensive damage and displaced thousands of residents.

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Renovation: Tinubu, Shettima’s official quarters to gulp N6.36bn

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The Federal Government has allocated a total of N6,364,181,224 billion for the renovation and rehabilitation of the residential quarters of President Bola Tinubu, Vice President Kashim Shettima, and some of their aides in the 2025 budget proposal.

Sunday PUNCH’s analysis of the proposed allocation, contained in the 2025 Appropriation Bill presented to the National Assembly, showed that the annual maintenance of the Presidential Villa would gulp N5.49bn.

According to the proposed budget, N765m will be used for the renovation of the Vice President’s quarters and guest house.

The renovation of the president’s quarters at the State House will cost N6.39m, while the renovation of security quarters, auditorium, gymnasium and presidential aides’ quarters will cost N49m.

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In addition, the renovation of Prescott barracks at Maple State House officers’ mess building and signal office in Asokoro, Abuja will cost N51m.

Further analysis of the budget revealed that Tinubu and his vice are also expected to have N87m as honorarium and sitting allowances, while N127m was allocated for the procurement of SUVs.

Also, N3.66bn was budgeted for the purchase of State House operational vehicles and N1,09bn will be spent on replacement of SUV vehicles at the State House.

Under the budget of the State House Lagos Liaison Office, there is an allocation of N14.72m for the routine maintenance of State House Lagos facilities (Dodan Barracks, Vice President guest houses at Ikoyi, among others).

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Another N140.10m was allocated for the completion of renovation and furnishing of the State House annex (Dodan Barracks), Lagos.

Meanwhile, the Federal Government is planning to spend N1.83bn on converting forfeited properties from the Economic and Financial Crimes Commission into State House quarters.

The plan to convert forfeited houses from the EFCC comes in the same month that the commission disclosed the recovery of an estate in the Lokogoma District of Abuja, measuring 150,500 square metres and containing 753 units of duplexes and other apartments.

The commission described this as its “single largest asset recovery” since its inception in 2003.

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The estate rests on Plot 109 Cadastral Zone C09 of the district, and was forfeited in a ruling on Monday, December 2, 2024, by Justice Jude Onwuegbuzie.

(Punch)

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SEE NAIRA Rates Against The USD, GBP, EURO Today December 23, 2024

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WHEN we look at this month, USD was traded at ₦ at the beginning of this December on Monday, December 2, 2024. As at today with USD being traded at ₦1,655 we see a % for United States Dollar to Naira exchange rate for this month.

On this page, we are primarily focusing on the Black Market Dollar To Naira Exchange Rate Today, the USD to Naira currency pair are the most traded currency in the FX market.

Black Market Exchange Rates
Buying Rate
Selling Rate
Dollar to Naira 1655 1640
Pounds to Naira 2150 2000
Euro to Naira 1730 1700
Canadian Dollar to Naira 1146 1135
Rand to Naira 52 43
Dirham to Naira ‎0 0
Yuan to Naira 62 62
G.Cedi to Nair 70 50
CFA F. (XOF) To Naira 0.83 0.81
CFA F. (XAF) To Naira 0.74 0.74
READ ALSO: INSIDE LIFE: 26-Year-Old Lady Died In Bangladesh With No One To Claim Her Body, She Is A Nigerian From Enugu (SEE PHOTO)

Having full knowledge how much USD to NGN black market exchange rate today will give you a better opportunity to plan and make informed decisions.

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