This disclosure was made by the Federal Controller of Works in Lagos, Mr Olukayode Popoola, during a joint inspection with the Nigerian Ports Authority (NPA) on Saturday, April 17, 2021. We want peace and development in Ileogbo. Otherwise, where is the money deducted for USSD services from their customers? We (FMW) also complained about the trucks that are infiltrating the road while we are working. “This is according to a statement issued on 15th April 2021 by the Hausa Christians Foundation (HACFO). According to the group, there has been indiscriminate abduction of scores of Hausa Christian girls and their forceful conversion to Islam. In a statement jointly signed by the National President, Anthony Owolabi and Social and Publicity Secretary, Ayotunde Adedokun, they stated that the decision of the Forum was with a view to nipping in the bud likely danger posed by infiltration of areas by criminal elements who might disguise as herdsmen. And the truth of the matter is that while the SEC had issued guidelines in September 2020 aimed at regulating this market, for now for all intents and purposes, because these exchanges do not have access to commercial bank accounts in Nigeria, the market, for now, does not exist.’’, READ: Analysing the Central Bank of Nigeria’s Dollar Remittance Policy, Chike Olisah is a graduate of accountancy with over 15 years working experience in the financial service sector. Naija News reports that this was disclosed at a virtual news conference by the SEC Director-General, Lamido Yuguda, at the 2021 first post-Capital Market Committee (CMC). The public will be informed of the outcome of the engagements with the CBN, Yuguda added. This is coming after CBN had in February 2021, barred deposit money banks and other financial institutions from doing business with cryptos and other digital assets. The apex bank gave the direction in a circular released to deposit money banks (DMBs), non-bank financial institutions (NBFIs), and other financial institutions (OFIs). On Friday, the CBN directed banks to close accounts of persons or entities involved in cryptocurrency transactions within their systems. Posted By: Anya Ayeni on: April 16, 2021 In: FEATURED. The contract was awarded to AG Dangote Construction Company Ltd at the cost of N73bn under the Tax Credit Scheme of the Federal Government. The government said that sections one, three and four of the project which was awarded to AG Dangote Construction Company Ltd at the cost of N73bn under the Tax Credit Scheme of the Federal Government, were almost ready and would be completed in April. After the Central Bank of Nigeria issued a directive targeting the country’s cryptocurrency industry, bitcoin and altcoin trade volumes on centralized exchanges immediately plunged. The regulator ordered banks to close accounts associated with cryptocurrencies and stop similar future transactions. 0 Shares. He said, “And this section that we are is the end of section one which we have completed. She said it was resolved that a corridor would be opened for trucks movement in addition to palliative works on some roads and another inspection in three weeks on section one. Recall that on Friday, February 5, 2021, CBN issued a stern warning to banks across the country over transactions relating to cryptocurrency. Further to earlier regulatory directives on the subject. Cryptocurrency: SEC, CBN commences work on trading regulation The Securities and Exchange Commission (SEC) is working with the Central Bank of Nigeria (CBN) on the regulation of cryptocurrency. The reasons the Central Bank of Nigeria (CBN) decided to ban trading on cryptocurrency in the country seems to be getting clearer. Security of lives and property is everybody’s concern.”, Click to share on WhatsApp (Opens in new window), Click to share on Facebook (Opens in new window), Click to share on Twitter (Opens in new window), Click to share on Telegram (Opens in new window). The statement made the President, Association of Telecommunications Companies of Nigeria, Ikechukwu Nnamani, ask CBN to call the banks to order as regards agreements reached on the settling of the N42bn. Source: Stears Business . We will be able to come back to you later to inform you of the outcome of these engagements. They had also said that section two of the project which spans from Beach Land bus stop area to Cele Bus Stop which was recently awarded would also be completed in December 2021. What the Chairman, Association of Licensed Telecommunications Operators of Nigeria is saying. Cryptocurrency: How the CBN restriction cuts off exchanges CBN and crypto. “The duo must further be compelled to respect the rights of the indigenous Hausa Christians to exist, live and practice their chosen religious faith while coexisting with citizens of other faith in peace and tolerance particularly members of Sunni and Shiite Muslim sects,” he said. refers. The SEC Director-General, Lamido Yuguda disclosed this at the 2021 first post-Capital Market Committee (CMC) virtual news conference. He said the contractor is expected to move to site to start the construction works on section two of the project based on agreement adding that work on sections three and four had reached an advanced stage, with over 70% completion reached cumulatively. He explained that the commission suspended the implementation of crypto assets guidelines due to a lack of access to Nigerian bank accounts. He acknowledged the fact that the fintech market had been disrupted by the CBN’s ban on access to Nigerian bank accounts by the crypto exchange. He has worked in research and marketing departments of three top commercial banks. Get the scoops and market intelligence that can helpyou make better investment decisions right in yourmailbox. Who do they expect to pay and what were the deductions made from their customers for USSD services, which you and I were debited for? your password Fasua, … Home » News » IMF backs CBN on Cryptocurrency ban. Umeagbalasi said his group became aware of the act after another group in the North, Hausa Christian Foundation (HACFO) reported incidences of indiscriminate abduction of underage girls by Islamic leaders in the state, and forcing them to renounce their Christian faith, to take up Islam. On February 18, 2021 9:38 am In News by Nwafor. (adsbygoogle = window.adsbygoogle || []).push({}); Access our Live Feed portal for the latest company earnings as they drop. The interest attained a peak popularity score of 100 in February 2021 while a year ago it was at 34. “In spite of our firm belief in the right to freedom of movement by every Nigerian and the right to reside and conduct their lawful business in any part of the country, the people of Ileogbo will not subscribe to an unregulated influx of Fulani herdsmen into any part of Ayedire, Iwo and Ola Oluwa Local Government Areas in general and Ileogbo Kingdom in particular. CBN boss disclosed that the digital currency is used for money laundering and terrorism. Chike is a senior member of the Nairametrics Editorial Team. UACN Property Development Company Plc appoints Ojo Odunayo as new CEO. It can be recalled that telecommunication firms under the aegis of the Association of Licensed Telecommunication Operators of Nigeria (ALTON), had threatened to withdraw their Unstructured Supplementary Service Data (USSD) services to financial institutions from March 15 due to the N42 billion accumulated debt. Oluwanifemi Kolawole February 11, 2021. However, following the intervention of the CBN and NCC, the planned action was shelved with both parties (the telcos and the banks), going into a meeting with the Federal Government representatives. The Securities and Exchange Commission (SEC) is working with the Central Bank of Nigeria (CBN) on the regulation of cryptocurrency. According to a report from Punch, this was made known by the Chairman, Association of Licensed Telecommunications Operators of Nigeria, Gbenga Adebayo, who said that this has become a moral burden on the banks. Nevertheless, the new regulations seem to have succeeded in boosting crypto trade volumes on informal markets or on peer-to-peer trading platforms. In a statement on Sunday, February 7, Osita Nwanisobi, Acting Director, Corporate Communications, clarified that that the CBN circular of February 5, 2021 did … READ: Why buying Bitcoin in Nigeria is not cheap, He said, “Let me say that the SEC remains very supportive of fintechs. SEC, CBN in talks on cryptocurrency Market Regulation By ojootaru on April 16, 2021 The Securities and Exchange Commission has said it is in discussion with the Central Bank of Nigeria on how to better understand and regulate the cryptocurrency market in the country. Lamido Yuguda, the Director-General of SEC stated this at the 2021 first post-Capital Market Committee (CMC) virtual news conference. On February 18, 2021 8:13 am In Economy, News by Urowayino Jeremiah. The group said, “The Nigerian Government must sanction the Katsina Islamic leaders for indiscriminate abduction and forceful conversion of scores of Hausa Christians especially girls of underage to Islam. Nigeria’s Securities and Exchange Commission (SEC) says it is working with the Central Bank of Nigeria (CBN) for better understanding and regulation of cryptocurrencies in the country. The Nigerian tech startup space, particularly fintech, was rocked last week following a statement by the Central Bank of Nigeria (CBN) on cryptocurrency. Tweet. The apex bank had about 2 months ago, warned the Deposit Money Banks, Non-Financial Institutions and other Financial Institutions. We have invested so much in developing a framework for supporting fintechs in the various areas and fintechs are acting in areas of crowdfunding, investment advice and cryptocurrencies and the like.”. Popoola said that the rehabilitation works, which had been divided into four sections to ease port congestion and gridlock at the Apapa axis, have section one which spans from Liverpool Round through Creek Road to Beachland near Sunrise and is about 10 km, while section two is 8.4 km and spans from Beachland to Cele Bus Stop. The Securities and Exchange Commission (SEC) of Nigeria has reported that discussions with the Central Bank of Nigeria (CBN) about cryptocurrency legislation are pending. The ancient forum, which is the central union for Ileogbo indigenes home and in the Diaspora, viewed the call with great concern, saying the people of Ileogbo would not subscribe to the influx of Fulani herdsmen into any part of Ayedire, Iwo and Ola-Oluwa Local Government Areas in general and Ileogbo Kingdom in particular. The union described the call as a threat to the security of lives and property of the people of the area. Digital technology experts, who spoke at the 2021 Annual Retreat of WESTERN POST online newspaper in Ibadan, the Oyo State capital, at the weekend, noted that Cryptocurrency is fast becoming acceptable by many businesses and Nigerians. We have told them (NPA) that we cannot allow trucks to flock onto the section where we are working because they will disturb the contractor. 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The CBN Governor, Godwin Emefiele stated that the Crypto ban was in the best interest of Nigerians. your username. Recently, the Chief Executive Officer, Access Bank Plc, Herbert Wigwe, reportedly stated that Nigerian banks were not indebted to telecommunications firms for using telcos platforms to provide payment services. “We want to assure all Fulanis who have been residing in the Kingdom for ages of our continued hospitality, but we urge them not to play host to criminal elements who may want to infiltrate their ranks for the purpose of perpetrating their evil acts. CBN on Cryptocurrency: Patricia Technologies assures customers of funds safety. The press release said, “This call, by all of its intent and purpose is capable of engendering an influx of all manners of Fulani herdsmen into the three Local Government Areas that make up Ayedire/Iwo/Olaoluwa Federal Constituency and threat to security of lives and property of the people of the area. IMF backs CBN on Cryptocurrency ban . The group in a press statement signed by its chairman, Board of Trustees, Mr Emeka Umeagbalasi and made available to DAILY POST in Awka, Anambra State, condemned the act, calling on relevant authorities to act quickly. The government said the reconstruction/rehabilitation of the expressway which was inaugurated by President Muhammadu Buhari in November 2018, to resolve the Apapa traffic gridlock, will be completed within 9 to 10 months. Popoola said that the entire project would be completed and handed over within the next nine to 10 months, including section two which had just been awarded. This confirmation from the IMF thus corroborates what the Central Bank of Nigeria (CBN) has been saying about cryptocurrency transactions in the country. Learn how your comment data is processed. Popoola said that the inspection gave the NPA team the opportunity to see for themselves that the contractor had been working progressively. Yuguda said that the commission was in discussion with the CBN for better understanding and regulation of the crypto-assets market, adding that the capital market regulator had suspended the implementation of crypto assets guidelines due to lack of access to Nigerian bank accounts. As a fallout of the meeting, the CBN and NCC announced the introduction of N6.98 per transaction as new charges for customers using the Unstructured Supplementary Service Data (USSD) services with effect from March 16, 2021. Why IMF backs CBN on cryptocurrency ban – The International Monetary Fund (IMF) has confirmed that some crypto currencies were being used for money laundering and drug trafficking. CBN Governor, Godwin Emefiele arrives at the Senate to brief the cryptocurrency ban on February 23, 2021. Unilever Nigeria Plc reports a loss of N492 million in Q1 2021. It has become a moral obligation because the banks used the services, debited their customer accounts and now not paying the telcos. “It is not surprising he would take that position because, Bitcoin, the best-known cryptocurrency, hit a record high of $42,000 per unit on January 8, … Remember that nobody operates in the Nigerian capital market if that person does not have access to a Nigerian bank account,” he said. You may contact him via his email- [email protected]. He said, “In all other areas, nothing has changed, but in the area of crypto assets, you know that with the recent prohibition by the CBN on access to Nigerian bank accounts by crypto exchanges, that market has been disrupted. Telcos in Nigeria have called for the intervention of the CBN and NCC as they insist that banks have to pay the N42 billion debt for the USSD services. The abducted Hausa Christian girls, who are under the school age of 16, are also forced into early marriage, done outside the consent of their parents.”. 0 0 0. This is coming after CBN had in February 2021, barred deposit money banks and other financial institutions from doing business with cryptos and other digital assets. The ten Christian mission schools affected by the recent hijab controversy in Ilorin, Kwara State, are to resume on Monday, April 12, 2021, for the 2020/2021 third term academic session. NPF Microfinance Bank reports a profit after tax of N614.42 million in FY 2020. He assured that section one of the project would be completed within 3 weeks and thereafter opened for use. Share 0. Adebayo, in his statement, said, “The over N42bn debt remains outstanding and the banks have to pay the telcos. 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