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Tinubu Bows To Pressure, Orders CBN To Suspend Implementation Of Cybersecurity Levy

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President Bola Tinubu has asked the Central Bank of Nigeria to suspend the implementation of the controversial cybersecurity levy policy and ordered a review.

This followed the decision of the House of Representatives, which, last Thursday, asked the CBN to withdraw its circular directing all banks to commence charging a 0.5 per cent cybersecurity levy on all electronic transactions in the country.

The CBN on May 6, 2024, issued a circular mandating all banks, mobile money operators, and payment service providers to implement a new cybersecurity levy, following the provisions laid out in the Cybercrime (Prohibition, Prevention, etc) (Amendment) Act 2024.

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According to the Act, a levy amounting to 0.5 per cent of the value of all electronic transactions will be collected and remitted to the National Cybersecurity Fund, overseen by the Office of the National Security Adviser.

Financial institutions are required to apply the levy at the point of electronic transfer origination.

READ ALSO: ICYMI: CBN Orders Banks To Charge 0.5% Cybersecurity Levy

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The deducted amount is to be explicitly noted in customer accounts under the descriptor “Cybersecurity Levy” and remitted by the financial institution. All financial institutions are required to start implementing the levy within two weeks from the issuance of the circular.

By implication, the deduction of the levy by financial institutions should commence on May 20, 2024.

However, financial institutions are to make their remittances in bulk to the NCF account domiciled at the CBN by the fifth business day of every subsequent month.

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The circular also stipulates a timeframe for financial institutions to reconfigure their systems to ensure complete and timely submission of remittance files to the Nigeria Interbank Settlement Systems Plc as follows: “Commercial, Merchant, Non-Interest, and Payment Service Banks – Within four weeks of the issuance of the Circular.

READ ALSO: SERAP Gives FG 48-hr Ultimatum To Reverse CBN’s 0.5% Cybersecurity Levy

“All other Financial Institutions (Microfinance Banks, Primary Mortgage Banks, Development Financial Institutions) – Within eight weeks of the issuance of the Circular,” the circular noted.

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The CBN has emphasised strict adherence to this mandate, warning that any financial institution that fails to comply with the provisions will face severe penalties. As outlined in the Act, non-compliant entities are subject to a minimum fine of two per cent of their annual turnover upon conviction.

The circular provides a list of transactions currently deemed eligible for exemption, to avoid multiple applications of the levy.

These are loan disbursements and repayments, salary payments, intra-account transfers within the same bank or between different banks for the same customer, and intra-bank transfers between customers of the same bank.

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READ ALSO: Banditry: Niger Speaker To Marry Off 100 Female Orphans

Exemptions include other financial institutions’ transfers to their correspondent banks, interbank placements, banks’ transfers to CBN and vice versa, inter-branch transfers within a bank, cheque clearing and settlements, letters of credit, and banks’ recapitalisation-related funding.

Others are bulk funds movement from collection accounts, savings, and deposits including transactions involving long-term investments such as treasury bills, bonds, and commercial papers, and government social welfare programmes transactions.

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These may include pension payments, non-profit and charitable transactions including donations to registered non-profit organisations or charities, educational institutions transactions, including tuition payments and other transactions involving schools, universities, or other educational institutions, and transactions involving the bank’s internal accounts, inter-branch accounts, reserve accounts, nostro and vostro accounts, and escrow accounts.

The introduction of the new levy sparked varied reactions among stakeholders as it is expected to raise the cost of conducting business in Nigeria and could potentially hinder the growth of digital transaction adoption.
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Nigerian Student Sets Record At KNUST

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A Nigerian student, Isaac Jesutofunmi Oniti, has reportedly set a record at the Kwame Nkrumah University of Science and Technology (KNUST).

He is said to be the youngest overall graduating student, aged 19, since the founding of the institution in 1952.

READ ALSO:How A Nigerian Student’s Bold Hustle Landed Him In Silicon Valley

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The former student of Seven Great Princes Academy bagged the enviable title of Valedictorian after earning a record Cumulative Weighted Average (CWA) of 87.23.

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How A Nigerian Student’s Bold Hustle Landed Him In Silicon Valley

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When Nigerian student Oluwapelumi Dada spotted Sam Parr, an entrepreneur and My First Million podcast host, jogging through San Francisco last year, he jumped on his bike, chased Parr down, and pitched him his idea.

This idea is an app that allows students to apply for multiple jobs at once. The pitch, which caught Parr’s attention and later went viral on social media, has been accepted into Y Combinator, one of the world’s most prestigious startup accelerators.

On account of the journey from Lagos to Silicon Valley, Dada’s story is one of grit and belief in possibility. After moving to the United States for university two years ago, he spent much of his time building apps and sharing his progress online.

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Last year, he turned down internship offers from Tesla and Dell -two of the world’s top tech firms – to focus full-time on developing his idea, then called One Click Apply.

READ ALSO:NILDS Organises Quiz Competition For Secondary School Students In Bauchi

The app aimed to simplify how students navigated job applications, offering a single platform to apply to multiple opportunities with just one click.

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While being unable to afford the summer without a job, Dada took a leap of faith and joined The Residency, a hacker house in San Francisco where young founders live and build startups together.

While there, he convinced fellow Nigerians, David Aladee and Damilola Ajayi, to leave their own pursuits and join him in building what would later become Sorce, described as the ‘Tinder for jobs.’

Their early hustle caught the attention of tech investor Hugo Thieblot and startup collective Founders Inc., who provided the first funding to grow the project. Dada later returned to school, continued refining the app, and officially launched it after graduation.

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After missing Y Combinator’s application deadline, the team decided to apply anyway — a decision that would change their lives. Weeks later, Dada received a call from YC’s David Lieb confirming that Sorce had been accepted.

READ ALSO:200-level Student Wins Car As MTN Thrills UNIBEN With Campus Invasion

“We got a call that we got in,” Dada wrote on X (formerly Twitter). “Dreams do come true.”

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This marks a new chapter for African Innovation as with its acceptance into Y Combinator, Sorce joins the ranks of a growing number of African-founded startups making their mark in Silicon Valley.
The app aims to help students and young professionals streamline job applications, which is a pain point for millions worldwide.
For many in Nigeria’s tech ecosystem, Dada’s story represents the bold, self-starting attitude driving the next wave of African founders who are competing globally.

The One Click Apply is a website that allows students/job applicants to apply to jobs in one click, with the hope of making the job application process easier for students. One Click Apply helps job applicants not worry about all the repetitive parts of applying for a job.

The end goal is to build the standard for applying to jobs on the internet, so that anyone, anywhere, won’t have to put in the same information on 10 different websites several times.

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He hails from Oyo State, in Nigeria. Dada attended Rehoboth Peace Academy, Abuja, for his primary education; Middle School (JSS 1-3) at Salem Academy, Abuja, and the Government Science Secondary School, Abuja (SS1-3).

A student at Huston-Tillotson University from Austin, Texas, representing the Huston-Tillotson University class of 2025, Dada’s tech journey began at the tender age of 11.

READ ALSO:Columbia University Bows To Trump’s Demands After Threat To Withhold Funds

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He got a full tuition scholarship studying Computer Science at the Huston-Tillotson University and worked as a resident assistant (which gives him free housing).

He said that he got to know about tech at a young age. Temitayo Dada, his mum, brought in a computer when he was young, hence he naturally got an aptitude for computers because he could do a lot of things on it.

Kehinde Dada, his dad, was a graphic designer, whom he learned some graphic designs from. Dada also did some graphic design with Photoshop and CorelDRAW when he was younger.

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He started coding late, according to him. However, he learned Java when he was 11, but only for that summer. “I stopped coding when I started secondary (high) school. When I got into SS 2 (11th grade), I started making websites with Wix, and learning HTML until I graduated (from secondary school),” he said in an interview with Africa Interviews.

READ ALSO:Final-year Student Arrested For Abandoning Newborn In Bush

General Board of Higher Education and Ministry(GBHEM) said in a release that Oluwapelumi Dada is on a mission to bridge the gap between technology and community service.

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“With the help of General Board of Higher Education and Ministries Scholarships, Dada is pursuing a degree in computer science while actively giving back to the community that shaped him,” it noted.

Read also:How Venture Stack is advancing strategies for fashion entrepreneurs, creatives

GBHEM Scholarships offers financial aid to United Methodist students pursuing undergraduate and graduate degrees. Every year, an average of $4 million is awarded to help students in the United States and abroad to pursue their dreams through higher education.

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“I am deeply honored to receive this scholarship. Your generous support has lightened my financial burden, allowing me to focus more on my studies and professional development,” Dada said.

“Attending college is crucial for me to gain the advanced knowledge in computer science that will allow me to innovate and solve complex problems,” Dada added. “Seminary education is also important to deepen my theological understanding and serve my community with informed spiritual leadership.”

He noted that his goal in the next five to 10 years is to completely reinvent what recruiting looks like. “Recruiting today is broken and is desperately begging to be fixed. In terms of recruitment, finding applicants is hard for companies and employers.

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“So, there’s a lot of work to be done in making the experience easier on both the employers and applicants. For my life goals, I want to build really cool stuff and create a lot of value for the world.”
(BUSINESSDAY)

 

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The West African Examinations Council (WAEC) has released subject combinations for 2026 examination.

Under the new arrangement, Science students can no longer take Economics.

Likewise, students in the Humanities, those in Literature, Government, or History, are also barred from taking Economics.

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According to the new subject list, only students in the Business department are allowed to take Economics.

The WAEC exam, has its subjects combinations structured with a minimum of seven and a maximum of nine subjects, including English Language and Mathematics.

With all things remaining equally, generally, Science students focus on Physics, Chemistry, and Biology; Arts Students include Literature and a language like Yoruba, Igbo, or Hausa; and Commercial students emphasises on Economics.

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There are three basic areas of study in the Senior Secondary School Examination they are:

The three areas of study have WAEC subject combinations that are peculiar to each of them, for any career a student would want to pursue.

Only three subjects have been made totally Compulsory by the West African Examination Council, irrespective of your area of study, approved by the Federal Government.

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The three subjects are:

1. English Language

2. Mathematics

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3. Civic Education

WAEC Subject Combination For Science Students 2026/2027

The WAEC subjectcombination for science students includes subjects specific to the science field, most of which involve practical exams alongside theory and objective sections.

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READ ALSO:WAEC Releases Revised 2025 WASSCE Results, Apologises For Grading Error

These practicals, usually conducted in laboratories, require working with live specimens. Schools without proper lab facilities are given an alternative to the practical session. A student still has options aside from the ones listed below.

Subjects: There are other subjects that science students can add to their list of compulsory subjects; they include: Further Mathematics, Languages- Yoruba, Igbo, or Hausa, and Technical Drawing.

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Going forward, the WAEC subject combination for science students includes the following subjects.

English language

Mathematics

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Civic Education

Physics

Chemistry

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Biology

Geography

Agricultural Science

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Economics

WAEC Subject Combination For Art Students 2026/2027

The subject combination for art students is totally different from that of a science student, even though there are cases where art and science students may register for subjects such as economics, biology, agricultural science, etc.

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Apart from the Nine Subjects listed below, there are other subjects available for art students, including: Arabic Studies, Agricultural Science/Biology French, Music Commerce.

The WAEC subject combination for art students includes:

English Language

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Mathematics

Civic Education

Literature in English

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Government or History

Religious Studies: Christian Religious Studies or Islamic Religious Studies

Languages: Yoruba, Igbo, or Hausa

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Economics

WAEC Subject Combination For Commercial Students 2026/2027

READ ALSO:WAEC Releases 2025 WASSCE Results

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A commercial student is trained in subjects related to business, management, and economics, such as Economics, Commerce, Accounting, and Marketing. They form a key subset of students who sit for the WAEC examination each year.

Apart from the Nine Subjects listed below, Other elective subjects available to Commercial students include: Further Mathematics, Book Keeping Agricultural Science, or Biology, Languages: Yoruba, Igbo, or Hausa.

The WAEC subject combination for commercial students includes:

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English Language

Mathematics

Civic Education

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Economics

Accounting

Commerce

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Government

Office Practice

Note: There are some subjects that are neither compulsory for any subject area, but they are available to be chosen by any interested candidate. Examples of such subjects include Economics, Languages (Hausa, Igbo, or Yoruba), Agricultural Science, Biology, etc

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WAEC Trade subjects 2026/2027

Most WAEC Trade Subjects 2026/2027 are grouped because they provide students with practical, hands-on entrepreneurial skills, fostering job readiness and global competitiveness by instilling practical skills beyond academic knowledge.

There are 35 trade subjects in WAEC. These subjects are part of the curriculum to develop entrepreneurship and ensure students can acquire skills that lead to self-reliance and contribute to the economy, rather than solely focusing on traditional academic disciplines.

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READ ALSO:WAEC Releases 2024 WASSCE Private Candidates’ Results, Withholds 2,577

These are subjects that were introduced by WAEC to expose students to skill acquisition and the entrepreneurial world. Some trade subjects involve practical sessions, while others don’t. Every WAEC candidate is mandated to sit for at least one trade subject.

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Animal husbandry

Auto body repairs

Auto mechanic

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Auto electrical work

Automobile parts merchandising

Block laying, bricklaying, and concreting work

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Bookkeeping

Carpentry and joinery

Catering craft practice

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Data processing

Dyeing and bleaching

Plumbing and pipe fitting

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Printing craft practice

Radio, television, and electronics

Salesmanship

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Stenography

Tourism

Upholstery

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Welding and fabrication engineering craft practice

Marketing

Metalwork

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Mining

Painting and decorating

Photography

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Plumbing craft practice

Printing craft practice

Leather goods manufacturing and repairs

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Insurance

Machine Woodworking

GSM phone maintenance and repair

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Garment making

Furniture making

Fisheries

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Shorthand

Keyboarding

Criteria for Selection of Subjects for WASSCE and SSCE

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a. Compulsory Cross-Cutting Subjects

Each student is to take the four (4) compulsory cross-cutting subjects listed. For the Trade/Entrepreneurship subject, each student is expected to select one (1) Trade/Entrepreneurship subject from the list of 34 Trade / Entrepreneurship subjects listed.

b. Fields of Studies

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(i) Each student may then choose two (2), three (3), four (4), or five (5) subjects From each of their preferred four Fields of Studies depending on the potential, interest and capability such that the minimum number of subjects is eight (8) while the maximum number of subjects is nine.

(ii) If students select two (2) subjects from a Field of Study, they can select two (2) or three (3) subjects from any other Field of Study or from Trade / Entrepreneurship subject to make a minimum of eight (8) or a maximum of nine (9) subjects.

(iii) iIf students select three. (3) subjects from a Field of Study, they can select one (1) or two (2) subjects from any other Fields of Studies or Trade / Entrepreneurship subjects to make a minimum of eight (8) or a maximum of nine (9) subjects.

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(iv) If students select four (4) subjects from a Field of Study, they can select one (1) one subject from any other fields of study or Trade / Entrepreneurship subjects to make a maximum of nine (9) subjects.

(v) If students select five (5) from a Field of Study, they have already selected a maximum of nine (9) subjects

Note: in all, students are to select a minimum of eight (8) or maximum of (9) subjects

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