Music Icon and Afrobeat singer Seun Kuti has made explosive claims about the Nigerian music industry, suggesting that some artists are involved in money laundering.
Basically, in a video rant, Kuti expressed frustration about the perceived wealth disparity among musicians.
He questioned how some colleagues, with limited discographies, can afford luxurious lifestyles, including owning hotels and driving high-end vehicles like G-wagons and Rolls-Royces.
“Where is the money coming from?” Kuti asked, implying that some artists’ wealth is suspicious.
However, he cited his own 20-year career, struggling to build a single house.
So, he said this as evidence that the music industry doesn’t generate sufficient income to support such lavish spending.
Additionally, Kuti referenced crossdresser Bobrisky‘s recent legal issues, noting that money laundering charges were dropped from the case.
Also, Seun Kuti urged youths to critically examine the reality of the music industry and the actions of some artists alleging they might be involved in money laundering.
“If I speak out, they’ll label it jealousy,” Kuti said, emphasizing that his concerns transcend personal envy.
Meanwhile, he clarified that while he doesn’t condone crime, he’s particularly troubled by artists potentially exploiting their own community.
“This is not about being poor or rich; it’s about the game being played,” Kuti concluded.
Talented Nigerian music producer Rexxie has officially married his fiancée, Chisom, in a stunning traditional marriage ceremony.
Rexxie shared photos and videos from the joyous occasion on Instagram, expressing his excitement for their new journey together.
“FIRST OF ALL… INTRODUCTION @officiallychisom … Two families, one love story.
The beginning of forever starts with this special moment.” – Rexxie captioned.
Meanwhile, the music producer proposed to Chisom at a romantic dinner in Kenya in March earlier this year.
Also, friends, family, and fans flooded the comment section with congratulatory messages, celebrating the union.
Lastly, Rexxie and Chisom’s traditional marriage marks the beginning of their lifelong commitment, and fans eagerly anticipate their upcoming white wedding.
Renowned American Rappers Cardi B and Offset’s divorce saga has taken a dramatic turn, with Cardi B sharing explosive private text messages between the pair on Instagram Live.
The revealing private texts show Offset’s attempts to reconcile, asking Cardi B if she wants anyone else, and making suggestive comments.
Cardi B’s response was unequivocal: “Everybody can see I don’t want you.”
Meanwhile, this public expose comes after Offset accused Cardi B of infidelity during her pregnancy, sparking a heated response from the WAP singer.
Also, Cardi B, who gave birth to their third child just three weeks ago, expressed regret over their relationship.
However, the couple’s tumultuous relationship has experienced multiple separations.
This latest episode further solidifies their decision to part ways.
Lastly, Cardi B’s fresh cheating allegations against Offset prompted their latest breakup.
Nigerian ace rapper Folarin Falana, popularly known as Falz, has given socialite Verydarkman 24 hours to retract his statement regarding the rapper and his father’s alleged involvement in a money laundering case.
Recall that on Tuesday, September 24, 2024, social media figure Verydarkman shared an explosive audio clip implicating Falz in a controversial situation.
In the recording, socialite Bobrisky accused a Senior Advocate of Nigeria (SAN) and his son of helping him evade charges—a situation Verydarkman alleged involved Falz and his father, the prominent SAN Femi Falana, in securing Bobrisky’s legal backing.
The audio also claimed that certain EFCC officers demanded ₦15 million from Bobrisky to drop the money laundering charges.
Bobrisky admitted to paying the bribe, revealing that, rather than serving time in prison for naira abuse, he was detained in a private apartment.
Popular Afrobeat musician Seun Kuti has entered the fray surrounding crossdresser Bobrisky’s allegations against the Economic and Financial Crimes Commission (EFCC).
During a recent Instagram Live session, Kuti disclosed that social media activist VeryDarkMan (VDM) initially shared an audio recording with him, which implicated Bobrisky in a money laundering case.
The recording allegedly revealed that the EFCC accepted a N15 million bribe to drop the charges.
In the audio, Bobrisky claimed he did not serve his jail term and mentioned rapper Falz and his father, human rights lawyer Femi Falana.
Meanwhile, Kuti stated that he encouraged VDM to expose Bobrisky and the EFCC after reviewing the evidence.
The musician, who has experienced his own share of run-ins with the law, highlighted the disparity in treatment.
Also, he questioned why Bobrisky received preferential treatment. “I served my jail term, so why was Bobrisky freed?” Kuti asked.
However, Seun Kuti’s involvement adds another layer to the controversy surrounding Bobrisky’s allegations against the EFCC.
The case has sparked widespread debate about corruption and unequal treatment within Nigeria’s justice system.
Nigerian Rapper Falz Embroiled in Controversy Over Leaked Audio Recording
Falz, a renowned rapper, lawyer, and activist, faces criticism after being linked to a money laundering case involving socialite Bobrisky.
The controversy stems from a leaked audio recording shared by social media figure VeryDarkMan on September 24, 2024.
Bobrisky was arrested in April 2024 by the Economic and Financial Crimes Commission (EFCC) for defacing the Naira. He pleaded guilty, received a four-month prison sentence, and claimed to have served the full term.
Leaked Audio Revelations:
In the recording, Bobrisky alleged:
1. EFCC officers demanded ₦15 million to drop money laundering charges.
2. He paid the bribe and was detained in a private apartment instead of prison.
3. A Senior Advocate of Nigeria (SAN) and his son helped evade charges.
Allegations Against Falz:
VeryDarkMan claimed Falz and his father, Femi Falana (SAN), helped secure Bobrisky’s legal backing.
This development has sparked controversy, putting Falz’s morally conscious image under scrutiny.
Nigerian singer, actor, and politician Banky W has commenced his academic journey at Georgetown University in Washington D.C., pursuing a master’s degree in policy management.
As he departed, Banky W shared an emotional airport goodbye with his family on Instagram, expressing his excitement for this new chapter.
He also posted photos of his reunion with fellow Nigerian singer Eldee the Don.
Banky W revealed his motivations for pursuing higher education: “For family. For faith. For finding purpose.”
His wife, Adesua Etomi-Wellington, showed unwavering support, commenting: “Home is wherever you are.”
Talented Nigerian frobeats singer, Reekado Banks and his wife have announced the arrival of their first child, a significant milestone in their lives.
The exciting news of the arrival of his first child coincides with the two-year remembrance of Reekado Banks’s mother.
An overjoyed Reekado Banks took to Instagram to share the news.
He posted a heartwarming video of himself and his wife leaving the hospital with their newborn.
The clip shows the singer cradling his baby in a cot, dancing with unbridled excitement.
Additionally, Reekado’s emotional caption read: “Cos how is it two years after?
I’m leaving the hospital thankful for the blessings of nothing but deep appreciation for 10 months of absolute show of grit and strength.
Love you forever.”
Meanwhile, this announcement comes on the heels of Reekado Banks’ recent headlines, where he opened up about his past experiences with former record label boss Don Jazzy.
As outlined in the institution’s project list, the loan is expected to be approved on September 26.
The funds will be directed toward three major development initiatives aimed at strengthening Nigeria’s economic stability and improving resource mobilization efforts.
The projects, targeting crucial sectors such as healthcare, agriculture, and infrastructure, are pivotal for the country’s sustainable development and economic stability.
A breakdown of the projects showed the World Bank will approve $500 million for the first project tagged ‘Nigeria: Primary Healthcare Provision Strengthening Program.
The World Bank did not disclose the cost of the first project.
Another $500 million will be approved for the ‘Nigeria Human Capital Opportunities for Prosperity and Equity (HOPE) – Governance’ project, which has a project cost of $700 million.
The third project, ‘Sustainable Power and Irrigation for Nigeria,’ will also receive $500 million, but has a project cost of $10.75 billion.
One of the loan requests – ‘Rural Access and Agricultural Marketing Project – Scale Up,’ will receive $500 million by December 16.
The other on ‘Solutions for the Internally Displaced and Host Communities Project,’ slated for an approval date of April 8, 2025, will receive N300 million.
In May, the Bureau of Public Enterprises (BPE) said the federal government has secured a $500 million loan from the World Bank to boost electricity distribution in the country.
The federal government had received $750 million from the World Bank for humanitarian and social reforms and $1.5 billion for its economic stabilization plan.
Also, on June 3, Wale Edun, minister of finance and coordinating minister of the economy, said the World Bank board of directors would consider a loan of $2.25 billion for Nigeria.
Talented Nigerian singer-composer Olakira Teams Up with Street-Pop Sensation Portable for “Partey”
Following the release of last year’s two-pack, “Ileke/Kisses,” afropop star, Olakira, is returning to the music arena with “Partey,” a collaboration with street-pop star, Portable.
The song suavely melds the best characteristics of both artists: Olakira‘s sticky-sweet flow and Portable‘s vociferous verses, rooted in street realities that make for a bubbly anthem.
The motif for the song is about living up the life and enjoying a good time regardless of whatever the situation may be.
Talented Nigerian Music Sensation Boy Spyce Returns with Captivating Single, “Shout”
This captivating and well-produced song marks Boy Spyce‘s latest release of the year, adding to his growing collection of hits.
Following his previous releases, “Shout” further showcases his unique musical style and lyrical prowess, delivering a blend of enchanting melodies and relatable themes.
With its infectious rhythm and compelling vocals, the track is sure to resonate with both his loyal fanbase and new listeners alike, solidifying his place as a rising star in the Nigerian music scene.
Kindly download and listen to song below: –
Kindly tell us how you feel about this song in the comment section below.
Talented Nigerian music sensation Qdot drops another infectious track, tackling the trending topic of body enhancement. ‘BBL’ (Brazilian Butt Lift) delivers a memorable melody and thought-provoking lyrics.
Qdot’s message is clear: empowerment through self-improvement, urging women to prioritize safety and quality if choosing to enhance their appearance.
With production by Papiwizzy and mixing/mastering by X Smile, ‘BBL’ is a polished hit ready to dominate the airwaves.”
This one’s a vibe you won’t want to miss! Hit play and enjoy!!
The Nigeria Labour Congress, NLC, on Thursday, said the new price for Premium Motor Spirit, PMS, otherwise known as petrol, has eroded the gains of the yet-to-be-implemented N70,000 new national minimum wage.
The organized labor said it would meet with the federal government to discuss how workers could survive the recent hardship orchestrated by the development.
President of NLC, Joe Ajaero, who disclosed this at the opening ceremony of a two-day workshop on “Minimum Wage Implementation Workshop, Southern Zone, with the theme ‘Strategies for Effective Implementation of the 2024 National Minimum Wage Act, in Lagos,” insisted that the organized labor was deceived by President Bola Tinubu into accepting the N70,000 minimum wage to forestall petrol price increase.
Ajaero urged the government to tackle the excruciating hunger, poverty and frustration of Nigerians before things got out of hand, lamenting that Nigerians were suffering.
The NLC president, while giving insight into the conversations with President Tinubu before the N70,000 minimum wage was agreed, lamented that Nigerians appeared to have started adjusting to the situation on the ground because the government had been distracting organized labor.
“There is a tactic to distract our attention, to call us names, level allegations against us over cybercrime, financing terrorism, sponsoring terrorism and the rest.
” THOSE things have paid off because while we are facing those allegations, this issue of pump price has remained.
“I repeat, we were betrayed by Mr President, that statement we issued over our being betrayed is being denied by officials of the government.
“I am repeating that we were betrayed.
Some of you here were at the meeting when Mr President said, ‘Ajaero you are the problem’”, he said.
The Yobe State Police Command has arrested a 24-year- old man, Yunusa Isa who killed his business partner, Lawan Adamu to avoid paying back the N500,000 the deceased lent him.
LIB reported that 28-Year-Old Lawan was brutally murdered at the outskirts of Nayi Nawa bypass in Damaturu on Sunday, September 15, 2024.
The corpse was found with deep throat cuts and multiple stab wounds while a blood-stained knife was recovered at the scene.
The Spokesperson of the command, DSP Dungus Abdulkarim, who confirmed the development in a statement on Thursday, said the suspect initially denied involvement in the murder.
However, following intense interrogation by State CID Detectives, he confessed to the crime.
“Recall that, On September 16, 2024, the ‘A’ Divisional Police Headquarters apprehended Yunus Isa, 24, of Shago Tara, Nayi Nawa Ward, for allegedly killing Lawan Adamu,” the statement read.
Initially, the suspect denied involvement despite overwhelming circumstantial evidence. However, following intense interrogation by State CID detectives, Yunus Isa confessed to the crime.
“Investigation revealed that Lawan Adamu was his employer and business partner in the engine oil trade.
“He borrowed N500,000 from Adamu last year with a profit-sharing agreement.
“However, when he failed to meet the agreement terms, Adamu demanded repayment.
“Isa callously murdered Lawan Adamu to avoid repaying the debt, killing him in cold blood.
“The swift resolution of this case demonstrates our commitment to justice and public safety.”
The Central Bank of Nigeria will be raising N50 billion by the end of 2024 from a 0.005 percent cybersecurity levy on electronic transactions.
The Head of Research, FMDQ Group Plc, Vincent Nwani disclosed in a statement.
His comments come as CBN in its latest document, Monetary, Credit, Foreign Trade, and Exchange Policy Guidelines for Fiscal Years 2024-2025 confirmed the implementation of the cybersecurity levy.
Reacting to the development, Nwani said,
“The CBN is expected to raise N50bn from the cybersecurity levy by 2024.”
Data from the Nigeria Inter-Bank Settlement System had revealed that electronic payments reached a combined total of N987 trillion between 2022 and 2023.
Applying the 0.005 percent levy to this total results in an estimated revenue of approximately N49.35 billion.
“For instance, we saw a remarkable 55 percent surge in the total electronic payments, from N387 trillion in 2022 to N600tn in 2023 and the 2024 figure is projected at N999.9tn.
“At 0.005 percent cyber security fees, the Nigerian government will earn N19.5 billion for 2022, N30bn for 2023; 2024 will be equivalent to N50bn [projected figure] from its citizens,” Nwani stated.
Recall that in a notice in May, the CBN mandated all banks in Nigeria to collect and remit a 0.5 percent cyber security levy to the office of the National Security Adviser.
However, amid outrage over the levy, President Bola Ahmed Tinubu ordered its suspension.
Coca-Cola Hellenic Bottling Company has disclosed plans to invest $1 billion in Nigeria in expansion of its business in over five years.
The Chief Executive Officer, (CEO) of the company, Mr Zoran Bogdanovic disclosed this during his visit to President Tinubu where it noted the company’s long-term commitment to Nigeria.
In a statement signed by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, Coca-Cola noted that it generates around N300 billion in revenues per year from Nigeria and returns N90 billion back to the government.
Furthermore, the company noted that since 2013, it has spent around $1.5 billion in its Nigerian business on capacity expansion, supply distribution and logistics.
According to Mr. Zoran Bogdanovic: – That assurance gives us the confidence to continue our investments.
Since 2013, we have invested $ 1.5 billion in Nigeria in capacity expansion, transformation of our supply chain infrastructure capabilities, training and development.”
“I am very pleased to announce that, with a predictable and enabling environment in place, we plan to invest an additional $1 billion over the next five years.
We believe Nigeria’s potential is tremendous, and we are committed to working with the government to realize this potential.”
President Tinubu praised Coca-Cola for its enduring partnership with Nigeria and for creating over 3,000 jobs across its nine production facilities.
Addressing the delegation, he emphasized that private sector partnerships, which drive sustained investments, are key to his administration’s comprehensive reforms aimed at enhancing the business environment.
He also assured that the government would continue working with Coca-Cola to boost investments and tackle environmental challenges, including climate change.
The Lagos State Government has issued contravention notices to 69 companies for encroaching on waterfront setbacks in Lekki Phase 1 as part of its efforts to regulate and protect the state’s waterfront corridor.
Notable companies such as Farm City, Jonah Court, DHL, and Polo Avenue, located along Admiralty Way and Wole Olateju Street, were among those served with the notices.
This announcement was contained in a statement posted on the official X account of the Lagos State Government on Wednesday.
According to the statement, Commissioner for Waterfront Infrastructure Development, Hon. Yacoob Ekundayo Alebiosu, explained that the companies violated Lagos State Waterfront Law No. 3 of 2009, which is designed to ensure proper regulation and sustainable use of the state’s waterfront areas.
“In its continued efforts to sanitize the Lagos State Waterfront corridor, the Lagos State Government served contravention notices on Farm City, Jonah Court, DHL, Polo Avenue and 65 others at Admiralty Way and Wole Olateju in Lekki Phase 1 abating Lekki Cowrie Creek encroaching on Lekki Waterfront setback.
“According to the Honourable Commissioner for Waterfront Infrastructure DEVELOPMENT, HON.
Yacoob Ekundayo Alebiosu, all the companies served are occupying the waterfront setbacks illegally thereby contravening Lagos State Waterfront law No 3 of 2009 “for the regulation of Waterfront Development in Lagos State and connected purposes,” the statement read in part
The statement added that the Lagos State Government has directed the affected companies to submit documentation authorizing their use of the waterfront setbacks to the Ministry of Waterfront Infrastructure Development at the State Secretariat in Alausa, Ikeja. Non-compliance could result in the sealing or demolition of the properties.
What you should know
In recent times, the Lagos State Government has intensified its enforcement efforts, cracking down on property owners and occupiers for violations, including the encroachment on designated wetlands and other sensitive ecosystems.
These measures are part of the government’s broader strategy to protect the environment and ensure sustainable urban development across the state.
One of the most notable cases occurred on Sunday, September 15, 2024, when the state government sealed Maverick Estate in Gbagada for encroaching on a designated wetland.
Just two days later, on Tuesday, September 17, 2024, the Lagos State Government issued contravention notices to over 280 illegal property owners and occupiers within the Mayegun Waterfront Scheme in Eti Osa Local Government Area.
The violations cited included distortion of the master plan, slum development, and heightened risks of coastal erosion.
These actions reflect the government’s commitment to safeguarding Lagos’ environmental integrity while preventing unregulated developments that pose threats to both the ecosystem and the state’s long-term infrastructure goals.
The Federal Inland Revenue Service (FIRS) has announced plans to implement a digital solution, the FIRS e-Invoice, aimed at improving tax administration and compliance in Nigeria.
The Executive Chairman of FIRS, Dr. Zacchaeus Adedeji, disclosed this on Wednesday speaking at at the “Emerging Tax Matters” stakeholders’ engagement organized by the Lagos Chamber of Commerce and Industry (LCCI) in collaboration with FIRS.
According to him, this initiative aligns with the Tax Administration and Enforcement Act of 2007 and is part of the FIRS’ ongoing digital transformation strategy.
Represented by Mrs. Oti Olaniyi, Acting Director of the Medium Taxpayers Department, Adedeji noted that the e-Invoice system would facilitate real-time validation and storage of transactions across business-to-business, business-to-consumer, and business-to-government transactions.
An e-invoice, or electronic invoice, is a document that is exchanged between a buyer and a supplier in a structured data format.
E-invoices can be processed automatically and electronically, and they remain digital throughout their lifecycle.
Modernizing the Nigerian tax system
The introduction of the e-invoice is seen as a crucial step towards modernizing Nigeria’s tax system, ensuring efficiency, transparency, and better compliance.
Adedeji stated that the evolving tax environment presents both challenges and opportunities and leveraging technology is essential for creating a more sustainable and equitable tax system.
“Our collective efforts will pave the way for a more prosperous and resilient Nigeria.
As we move forward, we encourage you to support these initiatives with constructive feedback and collaboration.
“By doing so, we can all build a stronger, more resilient economy that benefits everyone,” he said.
Tax reforms
The FIRS Chairman also highlighted the recent restructuring within the tax agency and the introduction of various tax reforms.
These changes are intended to support sustainable growth and equitable development, particularly by providing tax incentives that stimulate local industries.
Adedeji stressed the importance of transparency in implementing tax incentives, ensuring they align with the country’s broader development goals.
He also pointed out the significant challenges posed by the informal sector, which constitutes a large portion of Nigeria’s economy.
To better engage with this sector, he said the government plans to introduce simplified tax regimes and registration incentives to encourage small and micro-businesses to participate in the formal tax system.
He further emphasized the need for trust between the government and citizens, stating that transparency and fairness in the tax system are crucial for encouraging compliance.
“For these reforms to succeed, businesses and citizens must embrace a culture of tax compliance,” Idahosa concluded.
The Ogun State Government has announced the establishment of a $5 million battery recycling plant by a British company.
Governor Dapo Abiodun disclosed this in a statement on Wednesday, following a visit from the British High Commissioner, Richard Montgomery, to the state capital, Abeokuta.
Abiodun stated that the British High Commissioner confirmed the new development during their meeting, adding that the UK is also interested in expanding investments in sectors such as health, education, agriculture, and others.
According to him, the battery plant will recycle e-waste, convert battery cells back into chemical form, and export the minerals for new battery production.
“We are pleased to announce the establishment of a $5 million British battery recycling company in @OGSG_Official, marking the first of its kind in Africa. This development was confirmed by the @UKinNigeria High Commissioner, Mr. Richard Montgomery, during a visit to my office at Oke-Mosan, Abeokuta.
“This initiative, in collaboration with Ogun Invest and the Bureau of Lands, will bring cutting-edge technology and new job opportunities to our state, positioning Ogun as a leader in battery recycling across Africa.
“The plant will recycle e-waste, converting battery cells back into chemical form and exporting the minerals for new battery production,” Abiodun said.
More Insights
Speaking further, he said the United Kingdom has expressed further interest in investing in Ogun, particularly in energy, technology, agriculture, and education.
According to him, discussions are ongoing to expand these partnerships, including technical assistance for the mass transit system in the state.
“The United Kingdom has expressed further interest in investing in Ogun, particularly in energy, technology, agriculture, and education.
“Discussions are ongoing to expand these partnerships, and we are excited about the possibilities ahead.
British International Investment has already supported cashew processing in the state, and we welcome their technical assistance for our mass transit system,” Abiodun added.
What you should know
Ogun State is one of the most economically vibrant States in Nigeria, hosting multiple industrial hubs in the country, including the famous Agbara industrial cluster.
The State also has one of the highest internally generated revenues, making it one of the few financially self-sufficient States in the country.
In January, the State Assembly approved N703.028 billion for the 2024 fiscal budget in Nigeria, coming after a few States like Lagos, Rivers and Delta.
According to Governor Abiodun, the total budget comprises N415.66 billion for capital expenditure and N287.37 billion for recurrent expenditure.
Additionally, the budget allocates N95.05 billion for personnel costs, N105.88 billion for overhead expenses, and N59.09 billion for public debt charges.
The Central Bank of Nigeria (CBN) has announced that it will continue enforcing the controversial cybercrime levy at 0.005% on all electronic transactions under its new guidelines for the 2024-2025 fiscal year.
This levy, which has sparked debate among Nigerians, is mandated by the Cybercrime (Prohibition, Prevention, etc.) Act of 2015, aimed at bolstering the nation’s cyber security infrastructure.
Nairametrics observed that the percentage has been reduced from 0.5% earlier announced in May 2024 to 0.005% in the new guidelines.
In the recently released Monetary, Credit, Foreign Trade, and Exchange Policy Guidelines for Fiscal Years 2024-2025 document, the CBN reaffirmed its commitment to this charge, requiring banks and other financial institutions to deduct the levy from all electronic transactions.
The revenue generated from this levy is directed towards a cybersecurity fund, intended to support measures that safeguard Nigeria’s banking system from the growing threat of cyberattacks.
The document read: –
“The CBN shall continue to enforce the payment of the mandatory levy of 0.005 per cent on all electronic transactions by banks and other financial institutions, in accordance with the Cybercrime (Prohibition, Prevention, etc.) Act, 2015.”
CBN restates minimum cybersecurity baseline for banks, financial institutions
The guidelines also reaffirm the CBN’s broader commitment to ensuring that banks, Other Financial Institutions (OFIs), and Payment Service Providers (PSPs) adhere to minimum cybersecurity standards.
These include the appointment of Chief Information Security Officers (CISOs) to oversee cybersecurity issues in compliance with the 2022 risk-based cybersecurity framework.
The document read: –
“Pursuant to the circular titled ‘Issuance of Risk-based Cybersecurity Framework and Guidelines for Deposit Money Banks and Payment Service Providers’ referenced BSD/DIR/GEN/LAB/11/25, and dated October 10, 2018, issued by the CBN to combat the increasing cyber security threat in the banking industry, banks and Payment Service Providers (PSPs) are mandated to adhere to the guidelines on the risk-based cyber security framework.
“Similarly, another framework titled ‘Issuance of Risk-based Cybersecurity Framework and Guidelines for Other Financial Institutions (OFIs)’, referenced OFI/DOA/CON/ACT/004/155, was issued on June 29, 2022.
The guidelines specified the minimum cyber security baseline to be implemented by banks, OFIs and PSPs, and mandated the appointment of a Chief Information Security Officer (CISO) to oversee cyber security issues.”
What you should know
In May this year, the Central Bank of Nigeria (CBN) ordered banks to enact the process of deduction of cyber security levy to be administered by the office of the National Security Adviser (NSA).
The apex banks warned that the penalty for defaulting is as prescribed in the amended Cyber Crime Prohibition and Prevention Act which is liable to a fine amounting to no less than 2% of the turnover of the defaulting business and others.
The introduction of the levy drew the ire of Nigerians who complained that the timing was wrong and added additional costs to businesses operating in the country.
The Centre for the Promotion of Public Enterprise, (CPPE) noted that the new levy will add to inflation pressure and stifle business growth across the country.
The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) has further urged the Federal Government and the Central Bank of Nigeria (CBN) to set a maximum limit of N500 for the newly introduced cybersecurity levy, in order to alleviate the financial burden on the private sector.
In response to the criticisms and complaints of Nigerians, the federal government through the Minister of Information announced the suspension of the levy pending some form of review in the future.
The federal House of Representatives also called for the suspension of the levy even though they passed the amendment act that introduced it.
The CBN also withdrew its circular mandating banks and payment service providers to collect and remit the cybersecurity levy as proposed in the Cybercrime Prevention and Prohibition Amendment Act of 2024.
The withdrawal follows the decision of the Federal Executive Council to suspend the implementation of the provisions of the law citing the need to conduct further reviews.
The Federal Government has issued a warning that employers who fail to comply with the new N70,000 minimum wage will face imprisonment.
The government stressed that the new minimum wage is mandatory to address the country’s current economic situation, emphasizing that no Nigerian worker, whether in the public or private sector, should be paid less than this amount.
The Permanent Secretary, Ministry of Labour and Employment, Kachollom Daju, stated this on Wednesday while speaking at the 13th Annual General Meeting of the Employers Association for Private Employment Agencies of Nigeria, held in Ikeja, Lagos.
Daju, who was represented by the Director of Employment and Wages of the ministry, John Nyamali, said, “The minimum wage is now a law, and as a result, it is a punishable crime for any employer to pay less than N70,000 to any of its workers.
“The private employment agencies should make it compulsory in any contract they take from their principal that their workers should not earn less than the minimum wage. The least paid worker in Nigeria should earn N70,000, and I think that should be after all deductions.
“The minimum wage is a law, and you can be jailed if you fail to implement it.
The Federal Government is committed to ensuring that the least paid worker goes home with N70,000.”
In his remarks, the President of the Employers Association for Private Employment Agencies of Nigeria, Dr. Olufemi Ogunlowo, asked the government and Nigeria Labour Congress to clarify whether the N70,000 minimum wage is net or gross, stating that all ambiguities in the Act should be highlighted and explained.
According to Okoye, the EAPEAN is already committed to the minimum wage, as well as providing decent jobs for Nigerians and guarding against the exploitation of human resources.
“As a labour union in the private sector, we are committed to the implementation of the minimum wage.
We are a law-abiding and guided association. Our principals and clients have also keyed into the minimum wage.
“However, the government must clarify whether the N70,000 minimum wage is net or gross.
The government and NLC should address all ambiguities in the minimum wage,” he stated.
Speaking at the programme, the Chairperson of the NLC, Lagos State chapter, Funmilayo Sessi, said the prevailing hardship had made a mess of whatever income any worker was earning in Nigeria, calling on private employers to ensure the payment of the N70,000 minimum wage.
She said:-
“The N70,000 isn’t enough in the current economic realities.
By the time the consequential adjustment is concluded, all private employment agencies should immediately start paying their workers the N70,000 minimum wage.
“The NLC in Lagos State will see to the strict enforcement of the minimum wage.
EAPEAN should avoid confrontation with the NLC on the minimum wage.”
Afrobeat musician Seun Anikulapo-Kuti has criticized President Bola Tinubu for his decision to remove the fuel subsidy.
Seun argued that, despite the President’s assertion that the removal was a “tough” choice made in the best interest of the country, it was actually a “wicked decision” that disregarded the well-being of Nigerians.
Kuti slammed the Presidency’s decision to buy a $150 million jet while the educational sector is underfunded.
He argued that the money spent on acquiring a new jet for the President was enough to build and run 10 primary schools for 20 years.
Speaking during a recent Instagram Live session, the outraged singer asked: –
“Who donated for the $150 million jet for Tinubu? Who did they ask for donations?
“That $150 million do you know how many schools it will build? Or how long it will run a primary school?
10 good primary schools would be run on that money for at least 20 years.
10 good primary schools would be built and run, that will educate ten generations of African people,” Kuti added.
He continued: –
“The President cannot tell us that this petrol matter is not in his control.
He is the President and Minister of Petroleum.
They say they take tough decisions but there is no tough decision taken here.
President Tinubu took a wicked decision, this whole subsidy and floating the dollar, there is nothing tough about it.”
Elon Musk’s brain-chip startup, Neuralink, has received approval from the US Food and Drug Administration (FDA).
This approval follows the company’s development of its “breakthrough device” for experimental implants, named ‘Blindsight’.
The ‘Blindsight’ device is designed to restore vision for individuals with total or partial blindness, including those whose optic nerves are non-functional.
“We have received Breakthrough Device Designation from the FDA for Blindsight.
“Join us in our quest to bring back sight to those who have lost it.
Apply to our Patient Registry and openings on our career page,” Neuralink wrote on its X page on Tuesday.
According to Reuters, the FDA awards its breakthrough designation to medical devices that treat or diagnose life-threatening conditions, expediting their development and review.
Musk also announced the update on his X social media platform, highlighting Blindsight’s potential to restore vision in even the most severe blindness cases.
“The Blindsight device from Neuralink will enable even those who have lost both eyes and their optic nerve to see.
“Provided the visual cortex is intact, it will even enable those who have been blind from birth to see for the first time.
“To set expectations correctly, the vision will be at first be low resolution, like Atari graphics, but eventually it has the potential to be better than natural vision and enable you to see in infrared, ultraviolet or even radar wavelengths, like Geordi La Forge.” Musk wrote on X.com.
Neuralink, co-founded by Elon Musk in 2016, specializes in developing innovative brain-computer interfaces to transform treatments for neurological disorders.
Neuralink’s technology includes a brain implant that reads neural signals and wirelessly transmits them to external devices, including computers and mobile devices.
Business World reports that Neuralink is also developing an implant that enables paralyzed individuals to control digital devices with their thoughts.
Neuralink is also reported to be conducting a clinical trial with three participants to evaluate the device’s effectiveness in aiding individuals with spinal cord injuries.
It was widely reported in August 2024 that Neuralink’s brain-computer interface was successfully implanted in a second patient, who is now controlling video games and creating 3D designs using only their thoughts.
The Anambra State Ministry of Women’s Affairs and Social Welfare has launched a probe into the alleged murder of Ogechukwu Okafor by her husband, Elijah Ibeabuchi, a pastor. The incident occurred on August 13, 2024, in Nimo community.
The deceased’s family reported suspicious behavior from the husband, contradicting his claim that she fell from a four-story building.
Commissioner Ify Obinabo seeks support from stakeholders, women’s groups, and human rights activists to ensure justice for Ogechukwu.
The state government vows to thoroughly investigate the incident.
As news broke that the Dangote Refinery had reached agreement to sell petrol to the NNPCL, Nigerians began feeling excited and hoping that gasoline prices would drop in the country.
However, that hope was dashed on Sunday when the NNPCL announced that it bought petrol from the Dangote Refinery will cost more than the imported one 😲
The Nigerian National Petroleum Company has released a breakdown of estimated petrol prices from the Dangote refinery in its retail stations in Lagos as well as other states in the country.
In a statement signed by its Chief Corporate Communications Officer, Olufemi Soneye, the company stated that it is buying petrol in dollars from the Dangote refinery for September and sales in Naira would begin from October.
The petrol prices for various states are listed below 👇
Pastor Enoch Adeboye, the General Overseer of the Redeemed Christian Church of God, has shared how his desire to head a paramilitary organization resulted in a major personal setback.
Adeboye recalled an event from many years ago when he was misled by an individual who falsely promised him a high-ranking position.
He explained that the person, posing as a recruiter for an emerging paramilitary group, persuaded him to invest in the project.
The clergy revealed this in a post on his X handle on Monday.
Describing his decision to trust the man as a lapse in judgment influenced by his past fascination with the military, Adeboye admitted that his desire to fulfil this role led him to act prematurely.
He narrated: –
“Years ago, I was duped by a man who promised to make me a commandant of a paramilitary group.
This man had been sending messages to me through my secretary for a while, and so, one day, I gave him an audience.
He explained to me how a Boy-Scouts-like group had evolved into this new agency, and that he was sourcing for who would lead the group spiritually.
“Normally, I ask God before getting involved in anything at all, but this time, my love for the military in my younger days beclouded my best instincts, and I agreed to be their head.
He told me that they needed some funding, which I gave as the prospective head.
However, I later found out that the man was a fake.”
He, however, noted that the experience birthed the Redemption City corps and a local police post.
“My desire to be part of a paramilitary group made me run ahead of God, but God had already purposed for Redemption City to have its own corps of chaplains as well as a local Police post.
He knew the desire of my heart, and He had planned for it to be fulfilled in His own time.
I thought that I could bring my desire to fulfilment in my own time, but I was wrong.
What I lost in that experience was money, but for someone else, it might have been their life or a loved one.
“However, I later found out that the man was a fake.
My desire to be part of a paramilitary group made me run ahead of God, but God had already purposed for Redemption City to have its own corps of chaplains as well as a local Police post.
He knew the desire of my heart, and He had planned for it to be fulfilled in His own time.
I thought that I could bring my desire to fulfilment in my own time, but I was wrong.
What I lost in that experience was money, but for someone else, it might have been their life or a loved one,” he added.
A South African lady has sparked a heated debate with her comments on the work ethic of some local youths. She claims that many are reluctant to take advantage of available opportunities and instead rely on government grants, whereas foreign workers are often more willing to accept lower pay and work hard
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