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Reps Direct CBN To Stop Social Media Handles Requirement From Bank Customers

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The House of Representatives has directed the Central Bank of Nigeria (CBN) to stop its directive on the addition of social media handles as part of the `Know Your Customer’ (KYC) requirement for bank customers.

This followed the adoption of a motion by Rep. Kingsley Chinda (PDP-Rivers) and a few others at plenary in Abuja on Tuesday.

He said as laudable as the directive might appear, it would be unnecessary as it was likely to bear pressure on teeming Nigerian masses at this trying period.

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He said the directive by the CBN was in conflict with the provision of Section 37 of the Constitution of the Federal Republic of Nigeria, 1999 on the right to privacy of citizens.

READ ALSO: Reps Urge Commercial Banks To Halt Excess Charges, Illegal Deduction

He said banks in the country already had the names, telephone numbers, passport photographs, emails, National Identification Numbers (NIN), Biometric Verification Numbers (BVN), utility bills and other basic requirements to identify, know and monitor customers.

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He said there were better means of monitoring money laundering, terrorism financing, and proliferation financing, such as the Nigeria Police Force (NPF), Nigeria Financial Intelligence Unit (NFIU).

Others include the Economic and Financial Crimes Commission (EFCC), intelligence and crime tracking agencies, amongst others.

He said if the directive took effect, Nigerians who were not on social media, with large turnovers from their businesses and trades, would be compelled to or systematically excluded from formal banking systems.

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Chinda added that this would come with its attendant negative effects and implications.

READ ALSO: Tribunal: Oborevwori Kicks As Omo-Agege Presents 3,728 Documents

He expressed worry about the untold hardships the directive would cause millions of Nigerians, especially the illiterate, or semi-literate business owners, traders and entrepreneurs living in the villages.

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According to him, implementing the CBN’s directive at this point may clearly be unnecessary as it is likely to bear a lot of pressure on the teeming Nigerian masses.

Adopting the motion, the house stressed the need to revisit and halt the Central Bank of Nigeria directive to reduce the hardship and pain faced by Nigerians.

The house mandated the Committee on Banking and Currency (when constituted) to investigate the matter and report back within three weeks for further legislative action.

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The house also mandated the Committee on Legislative Compliance (when constituted) to ensure implementation.

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Tinubu Unveils Plan To Restart Oil Production In Ogoniland

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President Bola Tinubu has moved to restart oil production in Ogoniland in Rivers State.

The president disclosed this on Wednesday when he conferred posthumous national honours of Commander of the Order of the Niger, CON, on the late Ogoni four; Albert Badey, Edward Kobani, Theophilus Orage, and Samuel Orage.

Conferring the honours at the Presidential Villa in Abuja, Tinubu urged the Ogoni people to embrace reconciliation and unity after decades of division.

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READ ALSO:Teacher In Police Net For Tying, Beating Pupil In Bauchi

He assured them of his administration’s support for peace, environmental remediation, and economic revival in the land.

“I am encouraged by the overwhelming consensus of the Ogoni communities to welcome the resumption of oil production.

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“The government will deploy every resource to support your people in this march towards shared prosperity,” he said.

READ ALSO:Nigeria Ready, Willing To Host Commonwealth Games — Tinubu

The president directed the National Security Adviser, NSA, Mallam Nuhu Ribadu, to begin engagements between Ogoni communities, NNPCL, and other stakeholders to finalise modalities for restarting operations.

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Earlier in his report, the NSA stated that the consultations engaged all four Ogoni zones and the diaspora, capturing demands for structured participation in oil production, accelerated cleanup, and sustainable development.

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Former Oyo Police Commissioner Is Dead

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A Former Commissioner of Police in Oyo State, Abiodun Odude is dead.

The shocking news of his death was shared by the Chairman, Ibadan branch of Government College, GCI Old Boys Association, Akin Orowale on the Association’s platform.

Abiodun Odude, an old boy of GCI, served as Oyo CP between 2017 and 2019.

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In the meantime, reactions have continued to trail the death of Odude.

READ ALSO:Saudi Arabia’s Grand Mufti Is Dead

A former Director General, Oyo State Signage and Advertisement Agency (OYSAA), and GCI OBA stalwart, Dr Yinka Adepoju posted this on platform.

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Hmmm, another deep cut in the GCI Old Boys Association and Boys of 71 Set in particular!

“May the Soul of Biodun rest in peace as l pray that the Lord comforts all members of this Great 71Set and his entire family members, ‘Yinka Adepoju @71, 2356# Grierson”

So sad to lose such a personality NOW. But what can we do? Nothing absolutely than to wish him eternal rest and divine consolation to the loved ones left behind, particularly his immediate family and GCIOBA,” another old boy, who is an Ibadan based politician, Mr Adeniyi Adeoti said.

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The late Odude served in the Intelligence Department, Zone 2, Lagos State as Deputy Commissioner of Police, CID, Panti, Yaba; he was Commissioner of Police, Administration; Department of Finance and Admin., Force Headquarters, Abuja.

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Lagos Govt Gives Computer Village Traders Ultimatum To Relocate To Katangowa

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The Lagos State Government has given traders at the popular Computer Village in Ikeja an 18-month deadline to move to a new permanent site at Katangowa, in the Agbado/Oke-Odo Local Council Development Area.

The Permanent Secretary of the Ministry of Physical Planning and Urban Development, Gbolahan Oki, disclosed this during a stakeholders’ engagement with market leaders and traders on Tuesday.

According to him, the state government has provided the necessary infrastructure and facilities at the Katangowa site to ensure a conducive business environment once the relocation takes effect.

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READ ALSO:Lagos Begins Monitoring As Schools Resume

The government wants your cooperation to ensure the relocation comes to pass. The time is now. We have to make the project a reality. The relocation period is 18 months,” Oki said.

He explained that Computer Village currently sits on land originally designated as a residential area, which over time was converted into a bustling commercial hub without formal approval from the government.

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Oki also revealed that plans to move traders from Ikeja to Katangowa have been in the works since 2006 but were stalled due to delays in completing the new site.

READ ALSO:Police Reveal Cause Of Death Of Bodies Found On Lagos Riverbank

Emphasizing Governor Babajide Sanwo-Olu’s commitment to inclusive governance, he noted that the stakeholders’ meeting was convened to carry traders along in the government’s plans.

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“The governor is passionate about infrastructure development and the welfare of Lagosians. Katangowa has been designated as the permanent site for this market. It sits on 15 hectares of land, well-planned and strategically located near essential resources for your businesses.

“The present location in Ikeja was never meant to serve as a trading hub. What we are offering at Katangowa is a structured market environment that supports growth while addressing environmental and urban planning concerns. We want to work with you and jointly plan this relocation,” Oki said.

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