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Senate Committee Lists Those Who Are To Pay Cybersecurity Levy
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The Chairman of the Senate Committee on National Security and Intelligence, Senator Shehu Umar Buba, has clarified that the Central Bank of Nigeria (CBN) cybersecurity levy targets financial institutions rather than individuals or bank customers.
According to the Economic Confidential, the Senator who introduced the amendment bill stated that the proposed levy primarily targets financial institutions and telecom companies.
These, according to the Senator, are considered the most vulnerable sectors to financial crimes and cyber fraud in the country. This levy aims to improve cybersecurity measures and enhance national security in Nigeria.
He pointed out that the relevant section of the Cybercrime Act stipulated that businesses, not citizens, should pay the levy.
Senator Buba said, “The Act is very explicit about who is responsible for the payment, not Nigerian citizens or individuals. The relevant Section of the Cybercrime Act 2015 listed the businesses required to pay the levy: telecommunications companies, Internet Service Providers, Banks, Insurance Companies, the Nigerian Stock Exchange, and other Financial Institutions.
“The organisations in the sectors have been listed in previous circulars by the Central Bank of Nigeria, especially in 2018. The new circular by the CBN further provided many exemptions.”
Senator Buba also clearly explained the amount payable as a cybersecurity levy. “It is either 0.005 or 0.5% arithmetically. The figure in the principal act was 0.005 as a fraction, which was converted to the percentage that became 0.5% in the amendment. Therefore, the statistics in fractions and percentages are the same.”
The lawmaker emphasised that the approval of the amendment bill resulted from collaboration among various stakeholders.
The Senator acknowledged the concerns of Nigerians, civil groups, and other stakeholders about the current economic situation.
However, he reassured them that implementing the cybersecurity law was not intended to punish citizens.
He highlighted that the levy is a joint effort to safeguard national security and the economy, with the financial burden primarily on the designated companies.
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EMPOWERMENT! Senator Manu doles out N2.5m to support constituent’s fashion design business(Photos)
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Senator Manu Haruna of Taraba Central Senatorial District has made a significant impact on the life of a constituent by empowering him with over 2.5 million Naira to enhance his fashion design business.
This initiative aims to support local entrepreneurship and encourage vocational skills development within the community.
The delegation representing Senator Manu included Hon. Aruwa, the Taraba State Commissioner for Science and Technology, alongside Hon. Abubakar Baffa Nanu, Chairman of Gassol Local Government Council, and Alhaji Raubilu Umar, Hon. Ubale Gambo. They presented the cash to Falalu, who is commonly referred to as Sarkin Yakin Manu in a gathering held at the residence of Alhaji Raubilu Umar in Jalingo.
Falalu Sarkin Yakin Manu expressed his heartfelt gratitude to Senator Manu for this generous support, highlighting how the funds will significantly boost his tailoring business and provide better services to the community.
This empowerment initiative reflects Senator Manu’s commitment to fostering skills development and economic growth in the Taraba Central Senatorial District.
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Citizenship for sale as Trump announces “Gold Card” Immigration Plan, $5M
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By Kayode Sanni-Arewa
President Donald Trump has announced a new immigration “Gold Card” that will be sold to immigrants for $5 million.
The Gold Card is a premium version of a Green Card, according to Trump, and will provide immigrants with a pathway to citizenship.
“We’re gonna be selling a gold card. You have a green card, this is a gold card. We’re gonna be putting a price on that card of about $5 million and that’s gonna give you green card privileges plus…”
“It’s gonna be a route to citizenship. And wealthy people will be coming into our country by buying this card.”
“They’ll be wealthy and they’ll be successful and they’ll be spending a lot of money and paying a lot of taxes and employing a lot of people.”
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SAD! Lady Loses 3-Year-Old Son Hours After Allowing Father Take Him for Weekend Visit
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By Kayode Sanni-Arewa
A Nigerian lady has taken to social media to share the heart rending story of how she lost her three-year-old son hours after allowing his father to take him for the weekend.
The sad mother, who had single-handedly raised her son after being abandoned during pregnancy, expressed deep sorrow and regret over her decision to let his father back into their lives.
According to her, the child’s father had denied responsibility when she was pregnant and made no effort to be part of their son’s life until he returned from abroad, got married, and sought forgiveness. In an attempt to foster a relationship between father and son, she allowed him to take the boy for a weekend visit—an act she now deeply regrets.
Tragically, less than nine hours after leaving with his father, the little boy drowned in a deep well. The devastated mother, who had just returned from work, was met with the shocking news that her only child was gone forever.
In a post, she poured out her grief, questioning why such a tragedy had befallen her innocent child.
“Junior was only 3; he didn’t deserve to leave this world so soon. God, why?” she lamented.
May the soul of the little boy rest in peace.
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