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FG orders registration of 1.9 million PoS operators

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The Federal Government through the Corporate Affairs Commission has issued a two-month registration deadline to Point of Sales companies, to register their agents, merchants, and individuals with the commission in line with legal requirements and the directives of the Central Bank of Nigeria.

The agreement was reached on Monday during a meeting between Fintechs and the Registrar-General CAC, Hussaini Ishaq Magaji, in Abuja.

According to the Nigeria Inter-Bank Settlement System, there are over 1.9 million PoS terminals deployed by merchants and individuals nationwide.

Speaking at the meeting, the CAC boss said the measure aims at safeguarding the businesses of Fintech’s customers and strengthening the economy.

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He further stressed that the action was equally backed by Section 863, Subsection 1 of the Companies and Allied Matters Act, CAMA 2020 as well as the 2013 CBN guidelines on agent banking.

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Kyari to Present NNPCL’s Position Thursday On Tax Reform Bills

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By Gloria Ikibah

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited(NNPCL), Mele Kyari, is expected to present the corporation’s position on the tax reform bills before the House of Representatives on Thursday.

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Naijablitznews.com reports that Kyari had attended the public hearing on the Tax Reform Bills organised by the House Committee on Finance on Wednesday, but was asked to postpone his presentation.

The Committee Chairman, Rep. James Faleke had directed the suspension after confirming that amendments had been made to Kyari’s memorandum.

As a result, the NNPCL chief will now present the company’s position on Thursday.

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“I met debt overhang of N8.9bn, says APC Chairman, Ganduje

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By Kayode Sanni-Arewa

Abdullahi Umar Ganduje, the National Chairman of the All Progressives Congress (APC), has disclosed that the party’s National Working Committee (NWC) under his leadership, inherited a debt burden of N8.9 billion.

Ganduje revealed this in Abuja while speaking at the ongoing National Executive Committee (NEC) meeting of the APC

According to him, the expenses incurred during pre-election legal battles, election cases, and appeals for legislative, governorship, and presidential elections

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The current NWC inherited debts and legal liabilities to the total tune of N8,987,874,663, arising from various legal engagements,” he stated.

He, however, noted that Prof. Abdul Kareem Kana (SAN), the National Legal Adviser, has been working to reduce the debt burden.

“We still passionately appeal to the National Executive Committee to intervene accordingly,” he pleaded.

The meeting was attended by President Bola Ahmed Tinubu; Vice President Kashim Shettima; Senate President Godswill Akpabio; Speaker of the House of Representatives, Tajudeen Abbas; state governors; NWC members; and other party chieftains.

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Emefiele: Judge turns down request to withdraw from trial

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By Kayode Sanni-Arewa

Justice Rahman Oshodi of the Ikeja Special Offences Court in Lagos has rejected the request to step down from the ongoing trial of Godwin Emefiele, the former governor of the Central Bank of Nigeria (CBN).

Emefiele is facing 19 counts bordering on abuse of office, receiving gratification, and corrupt demands, brought against him by the Economic and Financial Crimes Commission (EFCC).

During Monday’s court proceedings, Olalekan Ojo, counsel for Godwin Emefiele, orally requested that Justice Rahman Oshodi should recuse himself from the trial on the grounds of alleged bias.

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The request specifically followed a dispute that arose while the seventh prosecution witness, John Adetola, was testifying.

Rotimi Oyedepo, SAN, the EFCC’s counsel, was cross examining Adetola’s testimony and referenced an earlier statement in which Adetola claimed he received a bribe from John Ayoh and delivered it to Emefiele at his office.

Oyedepo then asked Adetola to verify a WhatsApp message from Eric Odoh, which had been extracted from his phone by EFCC investigators.

Ojo had objected, arguing that the document was only for identification and had not yet been formally accepted as an exhibit.

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The defence had contended that the witness should not read or comment on the document at that point.

The court overruled the objection, citing section 224 of the Evidence Act, which allows for leading questions on introductory or undisputed matters.

Dissatisfied with the ruling, the defence declined to cross-examine the witness and instead filed a motion for the judge to recuse himself from the case.

On Wednesday, Justice Oshodi delivered his ruling, stating that after reviewing the arguments and legal authorities presented, the request lacked merit and was therefore dismissed. [With The Witness report]

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