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In Kaduna, Policeman injures NAN reporter

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Transport Correspondent of the News Agency of Nigeria (NAN), Mrs. Taiye Edeni was on Thursday injured in her right eye by a policeman at the inauguration of first Inland Dry Port by President Muhammadu Buhari in Kaduna.

The correspondent was given first aide treatment at the venue by the Red Cross and returned to cover the assignment.

According to her, President Buhari who performed the inauguration restated the Federal Government’s commitment to vigorously pursue rail development in Nigeria through the implementation of the railway master plan.

Buhari said this during the commissioning of additional locomotives and coaches at Rigasa Station in Kaduna State.

He noted that the Abuja-Kaduna rail line was a major achievement because it has met the needs of the masses, just as he reiterated his administration’s commitment to linking all major commercial and production centres by rail for rapid social economic development and improving the quality of life of the citizens as well as improving the national integration.

Buhari said, “you may also recall that during the commissioning in July 2016, I reiterated our commitment to vigorously pursue rail development in Nigeria through the implementation of the 25 years strategic Railway Master Plan.

“ We are encouraging private sector participation in Railway with negotiation ongoing with the General Electric (GE) on the concessioning of the narrow gauge lines.

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“We are moving forward to more efficient narrow gauge lines to be driven by the private sector, it’s on the basis of this, that we are creating a more conducive environment for private sector participation.

“By strengthening our legal and regulatory frameworks and we reassure Nigerians that we are committed in linking all commercial sector with railway which will improve the quality of life and bring about national integration”, the President added.

The Minister of Transportation, Rotimi Amaechi assured that the two locomotives and 10 coaches would resolve the high demand of passengers on the Abuja-Kaduna train service.

He stressed that the commissioning is a clear demonstration of a functional transport system which is the administration mandate.

Also, he explained that the train was carrying 1,280 passengers on a round trip daily noting that these new coaches would help improve their services and some coaches will also be deployed to Warri-Itakpe Standard gauge line.

Amaechi further maintained that with this new executive coaches, express train service will be introduced with only one stop at Kubwa station and the problem of racketeering on that route will be resolved.

In a related development, the minister disclosed that the Warri-Itakpe rail line would be completed in Sept. 2018 as work is progressing on the Lagos-Kano rail line.

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CBN orders banks to suspend deposit charges

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The Central Bank of Nigeria (CBN) has directed deposit money banks and financial institutions to suspend processing fees on deposits until September 30, 2024.

In a circular dated May 6, 2024, the apex bank ordered financial institutions to suspend processing charges imposed on cash deposits above N500,000 for individuals and N3,000,000 for corporates.

This directive, signed by the CBN’s Acting Director of Banking Supervision, Adetona Adedeji, aims to alleviate financial burdens on depositors.

The recent directive follows previous instructions from the CBN, which mandated deposit money banks to impose a 0.5% cybersecurity levy on transactions, a move that has stirred public outcry.

The circular stated, “Please refer to our letter dated December 11, 2023, referenced BSD/DIR/PUB/LAB/016/023 on the above subject, suspending processing charges imposed on cash deposits above N500,000 for individuals and N3,000,000 for corporates as contained in the ‘Guide to Charges by Banks, Other Financial Institutions and Non-Bank Financial Institutions’ issued on December 20, 2019.”

It continued, “The Central Bank of Nigeria hereby extends the suspension of the processing fees of 2% and 3% previously charged on all cash deposits above these thresholds until September 30, 2024. Consequently, all financial institutions regulated by the CBN should continue to accept all cash deposits from the public without any charges until September 30, 2024.”

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TUC threatens massive protest over cybersecurity levy

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FILES: TUC President Festus Osifo during a labour rally

 

The Trade Union Congress (TUC) has issued a stern warning to the Nigerian government, threatening a large-scale protest that could bring the economy to a standstill if the controversial cybersecurity levy introduced by the Central Bank of Nigeria (CBN) is not revoked.

In a statement released on Wednesday, TUC President, Festus Osifo, criticised the recent directive by the CBN imposing a 0.5 per cent cybersecurity levy on nearly all electronic transactions.

This move comes on the heels of heavy criticism from the Nigeria Labour Congress (NLC), which labeled the levy as an additional burden on Nigerians.

The TUC condemned the timing of the levy, highlighting the economic challenges already faced by Nigerians, including the devaluation of the Naira, high petrol prices, and increased electricity tariffs.

Expressing dismay over government policies under the leadership of President Bola Tinubu, the TUC lamented the burden of multiple taxation endured by Nigerian account holders, both from the government and financial institutions.

The union further accused the National Assembly of colluding with elements in the executive to exploit citizens rather than protect them.

TUC emphasised that Nigerians are currently focused on concluding discussions regarding the minimum wage, urging the Federal Government to prioritise this over what it described as a “vexatious policy.”

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It demanded the immediate withdrawal of the CBN circular to banks and the cancellation of the levy.

Warning of drastic action if their demands are not met, the TUC declared its readiness to mobilise members, stakeholders, and the masses for an immediate protest, potentially leading to the complete shutdown of the Nigerian economy.

According to the TUC, this levy represents one exploitation too many for the Nigerian populace.

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Ndume slams senate chamber renovation as ‘poor job’

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The Senate Chief Whip, Ali Ndume, has voiced his dissatisfaction with the recent renovation work carried out in the Senate Chamber, labeling it as substandard.

Under Order 42 of the Senate Standing Rules, Ndume expressed his concerns, highlighting various issues such as the poor quality of the sound system leading to echoes, inadequate sitting arrangements, and the absence of voting devices.

He remarked, “Since day one, precisely last week Tuesday when we moved into this Chamber that was supposed to have been renovated, there have been complaints here and there.”

In response, the President of the Senate, Godswill Akpabio, clarified that the sitting arrangement complaints among Senators have been largely resolved, noting that the renovation contract was not executed by the 10th National Assembly.

Meanwhile, in legislative proceedings, the Senate passed for the second reading a Bill aimed at repealing the Revenue, Mobilization, Allocation and Fiscal Commission Act of 2004.

The new legislation seeks to grant the Commission enforcement powers for monitoring revenue accruals and disbursement from the federation account, aligning it with the amended 1999 constitution.

Despite the bill’s passage, lawmakers have agreed to subject it to further scrutiny, with plans to revisit its provisions.

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The bill has been referred to the Committee on Finance, Appropriations, and Economic and Financial Planning for review, with a report expected within four weeks.

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