General
Ibanga’s Replacement: Group Cautions Akwa Ibom Youths
By Modupe Gbadeyanka
The barricading of the Ikot Abasi-Port Harcourt portion of the East-West road by youths from Akwa-Ibom State has not gone down well with the Ijaw Youth Council (IYC) Eastern Zone Task Force.
A statement signed by an executive of the task force, Mr Tonye Ibanichuka, said the action of the youths was mainly to attract the attention of President Muhammadu Buhari for the replacement of an executive director of the Niger Delta Development Commission (NDDC), Mr Ibanga Etang, who died recently.
It was gathered that the youths under the umbrella of The Concerned Youths of Akwa Ibom, numbering over 1,000, barricaded the road, thereby disrupting free flow of traffic in and out of Rivers State.
Reacting to the incident, the Ijaw group said it sees “this as an insult to the Ijaws and good people of Rivers State. There was never a zoning arrangement for the IMC.
“You may recall that Dr Joy Nunueh, a Rivers State indigene, was replaced with someone from Bayelsa State. When that happened, no one called for any zoning pattern.
“The IMC, even though it is not known to the law, is a temporary body with a clear mandate. Nobody should bring politics into their existence,” IYC said in the statement made available to Business Post.
The group further said in the statement that, “One thing our brothers fail to realize is that the NDDC is a direct benefit of the agitation of Ijaw sons and daughters.
“Our brothers died, our sisters were raped all to fight for the benefit of the Niger Delta. No one from Akwa Ibom State took part in the agitation.
“Coming out now to claim right over any position is not just an insult to the Ijaws, but a slap to our brothers and sisters who died during the struggle.”
“We remain calm because we know the move by these youths has a political undertone and was definitely sponsored by someone who is eying the position. But we want to use this medium to warn anyone who may try to attempt any such protest again.
“Anyone who claims any right over a position, produced by the Ijaw struggle would face our wrath. If such a protest is repeated, we will not only rise up and remind the country that we Ijaws stand for equity and truth; we will deal decisively with anyone who challenges our resolve,” it added.
“We call on Mr President to disregard those hungry youths and choose a competent hand to replace the late EDFA. The Ijaws have a better right over any position in the NDDC but we leave the decision to Mr President and the supervising minister,” the group concluded.
General
National Grid, Mr Ibu Among Top Trending Searches by Nigerians in 2024
By Dipo Olowookere
Many events happened in 2024 in Nigeria but a few shook the nation because of their impact on residents of the country.
According to a report released by Google, the incessant collapse of the national grip, which plunged the nation into darkness, was among trending searches on its platform.
In the report made available to Business Post on Tuesday, the tech giant said this year’s results show a continued interest in the political and economic landscape, with searches related to the US elections, the new national anthem.
“The 2024 Year in Search offers a unique lens into the questions, interests, and conversations that shaped the lives of Nigerians this year.
“From cultural milestones to pressing concerns, these insights reflect how Search continues to be a valuable tool for users to navigate and better understand their world,” the Communications and Public Affairs Manager for Google West Africa, Taiwo Kola-Ogunlade, stated.
Google’s 2024 Year in Search for Nigeria showcased the most popular searches, notable individuals, actors, musicians, topics, questions, and other subjects that captured Nigerians’ attention in the year.
Google’s Year in Search is an annual analysis that reveals the top trending lists and also spotlights what the world searches to see, learn, and do.
The music scene in 2024 was marked by a surge in popularity for artists like Shallipopi and Khaid, who also featured prominently in the overall personalities list. The top trending song was “”I Don’t Care” by Boy Spyce”, followed closely by “Ozeba” and “Commas” by Ayra”. Nigerians also showed a keen interest in understanding the lyrics of various songs, with “Ogechi lyrics”, “Ozeba lyrics”, and “Omemma by Chandler Moore lyrics” leading the searches in the lyrics category.
This year, Nigerians continued to demonstrate a strong interest in entertainment with movies like “A Tribe Called Judah”, “Treasure In The Sky”, and “Damsel” topping the movie charts. The top TV series that captured the interest of Nigerian netizens included “Supacell”, “My Demon”, and “Queen of Tears”. In the culinary world, Nigerians explored diverse recipes with “Pornstar Martini recipe” leading the searches.
Concerns about personal well-being and global events were also reflected in search trends. Questions like “How much is dollar to naira today?”, “How to get perfectly defined curls for African hair?”, and “Who won the US presidential election?” topped the list of queries. Nigerians were curious about the meaning of words like “demure,” “steeze,” and “pet peeves,” turning to Search for answers.
General
Fiscal Responsibility Commission Backs Controversial Tax Reform Bills
By Adedapo Adesanya
The Fiscal Responsibility Commission (FRC) has expressed strong support for the controversial Tax Reform Bills currently before the National Assembly.
The bills, developed by the Presidential Fiscal Policy and Tax Reforms Committee on instruction by President Bola Tinubu, aim to improve fiscal governance, transform public revenue architecture boost economic growth.
The Chairman of the commission, Mr Victor Muruako, expressed the support of the organisation at an interaction with academics and journalists on the sidelines of the Fellowship Lecture and Investiture Ceremony of the Capital Market Academics of Nigeria (CMAN) on Monday in Abuja.
According to a statement by FRC’s Head of Strategic Communications Officer, Mr Bede Anyanwu on Tuesday, the agency revealed that a critical analysis of the bills showed that it does not contain any issue or item that could be said to be skewed to favour any region or section of the country.
“The bills rather create a more equitable distribution of resources amongst Nigeria’s federating states,” Mr Muruako added, noting that the analysis also confirmed that the proposed reforms are designed to benefit all Nigerians, particularly low-income earners and Micro Small and Medium Businesses (MSMBs).
Mr Muruako outlined some of the key benefits of the reforms, including tax relief for low-income earners: individuals earning less than N1.7 million annually will pay less income tax, exemption of tax on small businesses with turnovers below N50 million, and exemption of over 90 per cent of small businesses from profit tax payment.
It was stated that the new bills intend to simplify tax administration in the country and make it more transparent.
Increasing revenue for subnational governments as states and local governments will receive a larger share of VAT revenue, empowering them to provide better public services, and improving ease of doing business, noting that reforms will reduce the administrative burden on businesses and make it easier to comply with tax regulations.
The FRC explained that it is upbeat that the tax relief for low-income earners will enhance savings and capital formation at household levels.
The commission also expressed confidence that given the positive correlation between savings and investment, explaining that the increase in small household investments across the board would lead to improvements in the sustainable growth of the nation’s economy.
He also opined that the reduced tax burden on small businesses would give Micro-Small Medium Enterprises breathing space, and enable them to grow organically, hence contributing to a sustained increase in the nation’s GDP in the near future.
On the recent controversies over the bills, Mr Muruako praised President Tinubu for allowing room for further dialogue, appealing to all stakeholders across geopolitical zones to support the bills because their transformative potentials stand to benefit every Nigerian.
General
CSCS Gets Dual Management System Certifications
By Adedapo Adesanya
Central Securities Clearing System (CSCS) Plc has been awarded the ISO/IEC 27001:2022 and ISO 22301:2019 certifications by the globally renowned Management System Certification Body (MSECB).
According to a statement from the firm, the Managing Director of CSCS, Mr Haruna Jalo-Waziri, said the ISO 27001 is an internationally recognised benchmark for managing information security, ensuring robust protection against data breaches and IT disruptions.
The ISO 22301 standard is an international standard that establishes the requirements for business continuity management systems.
Mr Jalo-Waziri said this recognition underscores CSCS’s steadfast commitment to international best practices in information security management and business continuity.
He noted that the ISO/IEC 27001:2022 certification highlights CSCS’s adherence to stringent information security measures, ensuring robust protection against data breaches and IT disruptions.
Mr Jalo-Waziri said that the ISO 22301:2019 certification also confirms CSCS’s business continuity and readiness to respond to unexpected incidents, minimising disruptions and safeguarding stakeholders’ interests.
“Achieving these certifications is a testament to our deliberate and strategic focus on embedding a culture of excellence, resilience, and trustworthiness in our operations.
“It underscores our commitment to maintaining the highest standards of information security and business continuity in delivering value to our stakeholders.
“These certifications position CSCS alongside leading global organisations that prioritise the confidentiality, integrity, and availability of information systems.
“They further validate the organisation’s dedication to securing its clients’ trust and ensuring operational resilience,” he said.
The CSCS MD added these certifications not only reinforce the trust of its clients, stakeholders, and regulators but also to validate the hard work and dedication of its team.
He said, that as Nigeria’s premier financial market infrastructure, the firm remains resolute in its mission to enable market confidence through best-in-class services and practices.
According to him, receiving these certifications from MSECB strengthens CSCS’s reputation as a reliable partner and a leader in the financial market ecosystem.
He said that the certifications assure stakeholders that CSCS’s processes are periodically monitored to meet and exceed compliance requirements.
This achievement, Mr Jalo-Waziri said, was a significant milestone in CSCS’s journey to consistently deliver secure, resilient, and innovative solutions to the Nigerian capital market and beyond.
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