As the week ends, PUNCH Online summarizes the major headlines that dominated the news.
The Central Bank of Nigeria has instructed all banks operating in the country to begin imposing a cybersecurity fee on transactions. The Federal Government mandated Point-of-Sale operators to register with the Corporate Affairs Commission. Lagos conducted a controversial removal of some citizens, and the Rivers State crisis has resurfaced. An investigative journalist who was kidnapped has been freed.
Below is a summary of this week’s top stories, from May 5 to May 11
- POS registration
The Federal Government has announced a compulsory registration of Point-of-Sale operators nationwide. The FG said this is to combat kidnapping and facilitate the apprehension of ransom recipients. Starting July 7, 2024, operators who failed to register with the CAC risk legal action.
The measure, supported by legal provisions and Central Bank directives, aims to reduce fraud, improve economic security, and align with efforts to control cryptocurrency trading.
PoS terminals involved in 26.37% of fraud incidents in 2023 are facing increased scrutiny. While the initiative promises benefits like access to loans and compliance with regulations, PoS agents express concerns about the burden of registration and its impact on their businesses, especially in rural areas.
Despite different opinions, the government remains committed to enforcing the registration deadline, emphasizing its role in strengthening business legitimacy and security.
- CBN levy
The Central Bank of Nigeria has required banks operating in the country to impose a cybersecurity fee on electronic transactions. The fee, equal to 0.5% of the value of all electronic transactions, is aimed at funding the National Cybersecurity Fund managed by the Office of the National Security Adviser. This directive follows the enactment of the Cybercrime (Prohibition, Prevention, etc) (Amendment) Act 2024.
Financial institutions must deduct and remit the fee on electronic transfers, with exemptions for certain transactions like loan disbursements, salary payments, and inter-bank transfers.
This directive comes shortly after the government instructed banks to impose a stamp duty charge on mortgaged-backed loans and bonds.
Nigerians have criticized the fee, calling it extortion and expressing concerns about additional financial burdens. Many question the necessity of the fee and its implications for account security. Some perceive it as part of a pattern of increasing charges by the government, worsening economic challenges for citizens.
- Freedom at last
Daniel Ojukwu, a journalist with the Foundation for Investigative Journalism, has been released after 10 days in police captivity. He was abducted by men of the Intelligence Response Team of the Inspector General of Police. Ojukwu had gone missing on May 1, prompting concerns from colleagues and family.
Following protests by Civil Society Organisations and journalists, including a demonstration at the Force Headquarters in Abuja, pressure mounted on the police to release him. Eventually, the police softened their stance, leading to Ojukwu’s eventual release.
FIJ announced intentions to seek justice for Ojukwu and prevent future abuses of power against journalists. The police released Ojukwu on bail, with two directors in the Federal Civil Service standing as sureties. The directors were required to provide two passport photos to the FCID and asked to surrender Ojukwu to the police when needed, PUNCH Online reports.
Meanwhile, Segun Olatunji, the General Editor of the online newspaper First News, has stepped down following a controversy over a story about Femi Gbajabiamila, President Bola Tinubu’s Chief of Staff.
The article led to Olatunji’s abduction and detention by the Defence Intelligence Agency. First News’s publisher, Daniel Iworiso-Markson, apologized to Gbajabiamila and resolved the case out of court, acknowledging the story contained falsehoods.
Olatunji resigned, mentioning safety concerns and expressing confidence that the truth would emerge. He thanked the management and urged them to settle his outstanding salaries.
Olatunji was taken from his home in Lagos in March, causing panic among First News staff. His wife described the abduction, stating armed men took him without explanation.
- Sirika
Former Minister of Aviation and Aerospace, Hadi Abubakar Sirika, along with his daughter, Fatimah Hadi Sirika, and son-in-law, Jalal Hamma, were granted bail by a Federal Capital Territory High Court in Abuja on Thursday. They were charged over alleged N2.7bn fraud related to the Nigerian Air project.
The defendants pleaded not guilty to the charges. The court granted bail to each defendant in the sum of N100m with two sureties each, one of whom must own a landed property within the Federal Capital Territory. The judge prohibited the defendants from traveling outside the country without permission and set the trial dates for June 10, 11, and 20.
Sirika expressed his readiness to go to prison, likening himself to prophets who had faced imprisonment. In a video from the court, Sirika was seen comforting his daughter, expressing acceptance of whatever fate awaited them.
- Rivers unending crisis
The rift between Rivers State lawmakers loyal to Nyesom Wike, the Minister of the Federal Capital Territory, and Governor Siminalayi Fubara has escalated into a protracted political battle.
This time it is over the proposed renovation of the state legislative quarters. Fubara unveiled plans to renovate the buildings, but pro-Wike lawmakers led by factional Speaker Martin Amaewhuke raised concerns that the renovation might be a pretext for demolition, similar to what happened to the House of Assembly last year.
Amaewhule accused Fubara of intimidation and disrespect for the law, asserting that the buildings were in good condition and built for lawmakers, not the executive branch. Fubara defended his visit, stating it was to assess conditions and make improvements if necessary. The APC accused the governor of intimidation, while the PDP supported the governor’s actions.
- Lagos evacuation
Findings revealed that buses from Lagos dropped youths rounded up in different locations around Lagos in Ilesa, Osun State.
Victims shared terrifying experiences after reportedly being detained by officials from the Lagos State task force and left in Osun Forest. They said they were warned of possible death if they didn't follow the officials' orders.
The arrests were part of a crackdown by the Lagos State Government on troublemakers following the discovery of makeshift homes under Dolphin Bridge in Ikoyi. The victims, including traders and job hunters, were supposedly offered help to move but were actually abandoned in the forest.
The Governor of Osun State, Ademola Adeleke, denied giving approval for the return of Osun natives and called for an inquiry into the incident. Adeleke also mentioned speaking to Lagos State Governor, Babajide Sanwo-Olu, about the issue, and Sanwo-Olu pledged an immediate investigation.
This event would be the first of its kind since 2013 when Osun State received homeless individuals, including children, relocated from Lagos.
However, the Lagos State government clarified that concerns about the ongoing arrival of these troublemakers in the state sparked fears of threats to lives and property. In a statement, the Lagos State Commissioner for Information, Gbenga Omotosho, mentioned that the situation led the government to take action to address the problem.
Omotosho mentioned that during the demolition of makeshift structures under the Dolphin Estate bridge, 450 squatters were arrested.
He noted that many of them, specifically 371 individuals, asked for help in relocating to their respective states.
