Operations
SEC sets deadline for crowdfunding platforms registration
File Photo The Securities and Exchange Commission has directed all existing investment crowdfunding portals/digital commodities investment platforms to note the requirements and eligibility criteria for raising funds through and/or operating a Crowdfunding Portal and comply with the registration requirements or cease operations by the 30th of June, 2021. This was contained in a notice released by the Commission on Wednesday. According to the SEC, the rules governing Crowdfunding business in Nigeria came into effect on the 21st day of January, 2021, which was part of efforts by the Commission to ensure investor protection while encouraging innovation in the conduct of securities business. “In line with the transitional provisions of the Rules, all persons/entities operating an investment cr...
Iran bans cryptocurrency mining for four months
Iran is temporarily banning cryptocurrency mining after some of the country’s major cities experienced repeated blackouts. President Hassan Rouhani said that the ban would last until September 22nd. The country has experienced summer blackouts in years past, and while the current round of outages is mostly being blamed on a drought that’s affecting the country’s ability to generate hydroelectric power, it seems that the Iranian government is eager to cut down on any aggravating factors. Power-hungry cryptocurrency mining operations, for instance. According to the BBC, Iran operates a program where Bitcoin miners must register with with the government, pay extra for electricity, and sell their coins to the central bank. President Rouhani stated that the legal mining operations in the countr...
House summon AGF over ‘blockage’ of $60 billion repatriation
The House of Representatives has again summoned the Attorney General of the Federation and Minister of Justice, Abubakar Malami (SAN) for allegedly halting the repatriation of $60 billion loot from Texas, United States of America. The Chairman of the Ad hoc Committee on Assessment and Status of All Recovered Loots – Movable and Immovable Assets from 2002 to 2020 by Agencies of the federal government for Effective Efficient Management and Utilisation, Rep. Adejoro Adeogun, summoned Malami on Wednesday in Abuja when a former Special Prosecutor to the Special Presidential Investigation Panel (SPIP), Mr Tosin Ojaomo, appeared before it. He also revealed that before the panel which was headed by Okoi Obono-Obla was disbanded, it investigated the Auditor General of the Federation for the withdra...
Gunman kills at least 8 in mass shooting at California rail yard
At least eight people were killed when a transit employee opened fire at his co-workers at a light rail yard in San Jose, California, on Wednesday morning, the county sheriff’s office said, in the latest in a string of mass shootings this spring. The gunman, who like the victims was an employee of the Santa Clara Valley Transportation Authority (VTA), was also dead, Santa Clara County Sheriff’s Deputy Russell Davis said at a news conference. He did not say how the gunman died or whether police officers fired their weapons at the scene. The name and age of the suspect were also not disclosed. The first emergency calls reporting the shooting at the VTA light rail yard near the city’s main airport came through shortly after 6:30 a.m. Pacific Time (1330 GMT). A bomb squad was searching the yar...
Facebook report: U.S. a top target for foreign and domestic influence operations
The United States topped a list of the countries most frequently targeted by deceptive foreign influence operations using Facebook between 2017 and 2020, the social media company said in a new report released on Wednesday. It also came second on a list of countries targeted by domestic influence operations in that same time period. Facebook Inc said one of the top sources of coordinated inauthentic behavior networks targeting the United States in the year leading up to the 2020 presidential election was domestic campaigns originating in the United States itself, as well as foreign operations from Russia and Iran. The tallies were based on the number of “coordinated inauthentic behavior” networks removed by Facebook, a term it uses for a type of influence operations that relies on fake acco...
South Sudan to return 72 000 coronavirus vaccines to Covax
South Sudan will return 72 000 doses of donated Covid-19 vaccines after concluding it cannot administer the jabs before they expire, a health ministry official told AFP on Tuesday. The country received 132 000 doses of the Oxford/Astrazeneca vaccine in late March from Covax, the global initiative to ensure lower-income countries receive jabs, but so far has administered less than 8 000 shots. The rollout has been hampered by vaccine hesitancy and major logistical hurdles in the vast and underdeveloped country of 12 million, which, apart from the pandemic, faces an emergency food crisis and widespread armed insecurity. “There’s a plan to deliver back 72 000 doses to Covax,” Angelo Goup Thon, the head of Covid-19 operations at the health ministry, told AFP. He said the decision was made late...
Rivers government seeks relocation of NIMASA cabotage department
The Governor of Rivers State, Nyesom Wike, has appealed to the Nigerian Maritime Administration and Safety Agency (NIMASA) to return its Cabotage Services Department to Port Harcourt. Wike made the appeal when the Director-General of NIMASA, Dr. Bashir Jamoh, visited him in Port Harcourt, recently. Wike said operations of the Cabotage Services Department of NIMASA used to be in Port Harcourt, Rivers State, but it was relocated to Lagos. The governor said in spite of his administration’s procurement of gunboats for security agencies, especially the Police and Navy to assist in the fight against piracy and ensure safety on the waterways for NIMASA’s businesses to thrive, the state did not get anything in return. He commended Jamoh for the initiative aimed at harnessing ocean resources as an ...
NDLEA intercepts 4.9 million capsules of Tramadol
The National Drug Law Enforcement Agency (NDLEA) on Wednesday said it intercepted 4,995,200 capsules of tramadol weighing 2,498.2kilogrammes at the Onne port, Port Harcourt, Rivers State. The spokesperson of the agency, Femi Babafemi, disclosed this in a statement in Abuja. He said efforts by the NDLEA to block access and availability of illicit substances led to the interception of the container conveying the illicit drugs. Babafemi said the seizure of the illicit drug concealed in 1,387 cartons on Tuesday, May 18 followed a joint examination by NDLEA operatives and Nigeria Customs Service (NCS) personnel. He said the drugs were concealed in a container marked MRKU 0764717 which had been on the agency’s watch list. In another development, a 42-year-old man, Muntari Hamidu, has been arrest...
President Buhari lauds NDLEA’s performance, pledges to enhance operational capabilities
President Muhammadu Buhari has hailed the performance of the National Drug Law Enforcement Agency (NDLEA) especially the recent overhaul of its operations leading to the arrest of drug peddlers at the airports and other parts of the country. He has therefore pledged his administration’s readiness to further enhance the capabilities and potentials of the Agency whose Chairman, Brigadier-General Mohammed Buba Marwa (rtd) was appointed in January. The National Security Adviser (NSA), Major General Babagana Monguno (rtd), told newsmen that the President applauded the activities of the NDLEA at the Tuesday’s security meeting which he presided over. Monguno stated that he was able to brief the National Council of Security (NSC) meeting on the enablers of crime one of which is drug and the need t...
2021 UTME: Mock examination slips ready for printing – JAMB
File Photo The Joint Admissions and Matriculations Board (JAMB) says that mock examination slips for its Unified Tertiary Matriculation Examination (UTME) can now be printed out in preparation for the exercise. JAMB made this known in its Weekly Bulletin of the Office of the Registrar and made available to newsmen on Monday in Abuja. “Candidates who had registered for the 2021 Unified Tertiary Matriculation Examination and indicated interest to sit for the optional mock examination are to print their mock notification slips from Sunday, May 9. “This is in preparation for the mock examination scheduled for Thursday, May 20. “The optional mock notification slips can be printed from anywhere candidates find to be convenient, provided they have access to the internet. “Candidates are to visit ...
South-east group hails re-organisation in Nigeria Police Force
The Coalition of South East Youth Leaders has expressed delight over the recent re-organisation in the Nigeria Police Force. The group, an umbrella body of youth organisations in the zone, described the measure as “a step in the right direction”. This is contained in a statement issued by the group’s President General, Goodluck Ibem, in Owerri on Wednesday. It commended the Acting Inspector General of Police, Usman Baba, for his “foresight” in appointing Mr Etim Okon as the Assistant Inspector General in charge of Zone 9. Ibem said that Okon’s appointment could not have come at a better time, considering the rising cases of insecurity in the zone. “We are deeply grateful to the IGP for his foresight in appointing a tested and experienced hand to man the affairs of Zone 9, Umuahia in Abia. ...
Understanding the strength of small businesses
The number of small businesses keeps growing in the formal and informal sectors of the Nigerian economy, due to the role of small businesses as the live-wire of any economy and the backbone of major developed economies the world over. Though Nigeria rely majorly on oil and revenues derived from it, from context observation the economy is largely supported by small businesses covering almost all spheres of activities within the country, ranging from Nano, kiosk, and Micro businesses most importantly. A visible reference usually includes the vulcanizers, corner shop owners, single retail marketers, repairers, painters, business center operators, restaurants, market women, and men in the various open markets, among others. and the formal operations such as the law firms, accounting firms, con...