money
Australia’s competition chief claims victory after Facebook standoff
The architect of Australian media reforms being watched around the world claimed victory on Wednesday, even as critics said concessions to the laws forcing Big Tech to pay for news content have given Facebook and Google a get-out clause. The Australian government made late changes to the laws after Facebook last week blocked news content in Australia, escalating a dispute over the proposed legislation and catching international attention. The amended legislation is expected to pass the Senate this week, despite opposition from some minor opposition parties and independent politicians who argue it disadvantages smaller news companies. Rod Sims, the chairman of the Australian Competition and Consumer Commission (ACCC), told Reuters the bargaining power imbalance he was tasked with correcting...
Crypto ban: We acted in Nigerians’ best interest – CBN
The Governor, Central Bank of Nigeria (CBN), Mr Godwin Emefiele, says the Bank’s decision to prohibit deposit money banks, non-banking institutions, and other financial institutions from facilitating trading and dealings in cryptocurrency is in the best interest of Nigerian depositors and the country’s financial system. Mr Emefiele made the declaration on Tuesday, February 23, 2021, while briefing a joint Senate Committee on Banking, Insurance and Other Financial Institutions; ICT and Cybercrime; and Capital Market, on its directive to institutions under its regulation. Describing the operations of cryptocurrencies as dangerous and opaque, the CBN Governor said the use of cryptocurrency contravened an existing law. He said given the fact that cryptocurrencies were issued by unregulated and...
Sex worker detained for intent to sell own four-month-old baby
Police in Ebonyi on Tuesday detained a commercial sex worker on allegations she intended to sell her son for N40,000. The baby is four months old and breastfeeding. The mother said she needed to raise money to start a beer parlour. Briefing journalists at the command headquarters, Abakiliki, the Police Public Relations Officer, DSP Loveth Odah, said that the woman was arrested on Friday following a tip off. “So, her name is Chukwube Victoria, she actually told us that she is a commercial sex hawker and that she has this babe which she carrying. “She said that if she leaves here, she would continue to look out for prospective buyer. “But we try to talk to her and to make her see the value of been a mother but she refused. “She even told us that if we allow her to go home with the baby, she ...
Nigerian lady convicted in US for online fraud
Oyindamola Akinrinola, 23, a Nigerian resident of Lawrence, Kansas, has pleaded guilty in federal court for her role in online fraud schemes that targeted victims in the United States. U.S. Attorney Stephen McAllister announced her conviction Monday night, saying she will now face time in federal prison for her crime. “Akinrinola and her co-conspirator in Nigeria victimised individuals, several elderly, through a variety of online scams,” he said. “We will continue to work with our law enforcement partners to prioritise the investigation and prosecution of fraud schemes like these, no matter where they originate. “I also take this conviction as an opportunity to reiterate to all Kansans the vulnerability of our senior citizens to scams and con artists, who prey upon them. “We must all be v...
Nigerian lady convicted in US for online fraud
Oyindamola Akinrinola, 23, a Nigerian resident of Lawrence, Kansas, has pleaded guilty in federal court for her role in online fraud schemes that targeted victims in the United States. U.S. Attorney Stephen McAllister announced her conviction Monday night, saying she will now face time in federal prison for her crime. “Akinrinola and her co-conspirator in Nigeria victimised individuals, several elderly, through a variety of online scams,” he said. “We will continue to work with our law enforcement partners to prioritise the investigation and prosecution of fraud schemes like these, no matter where they originate. “I also take this conviction as an opportunity to reiterate to all Kansans the vulnerability of our senior citizens to scams and con artists, who prey upon them. “We must all be v...
Minister: When Nigeria receives coronavirus vaccines doesn’t lie in our hands
Since the beginning of January 2021, Nigeria has been expecting the delivery of COVID-19 vaccines, but nothing has happened to date. The World Health Organisation, WHO and GAVI, the Vaccine Alliance, and the Coalition for Epidemic Preparedness Innovations, CEPI, came up with the COVAX initiative to ensure that low and middle-income countries have access to vaccines. But COVAX has not given a precise date for when it will begin distributing the vaccines. Nigeria has put all its hopes on the COVAX Facility. The federal government is also expecting some vaccines from the Africa Union arrangement, expected to deploy from March. This development has attracted criticisms about the government’s readiness and commitment towards ensuring the timely vaccination of Nigerians against the dreaded pande...
Minister: When Nigeria receives coronavirus vaccines doesn’t lie in our hands
Since the beginning of January 2021, Nigeria has been expecting the delivery of COVID-19 vaccines, but nothing has happened to date. The World Health Organisation, WHO and GAVI, the Vaccine Alliance, and the Coalition for Epidemic Preparedness Innovations, CEPI, came up with the COVAX initiative to ensure that low and middle-income countries have access to vaccines. But COVAX has not given a precise date for when it will begin distributing the vaccines. Nigeria has put all its hopes on the COVAX Facility. The federal government is also expecting some vaccines from the Africa Union arrangement, expected to deploy from March. This development has attracted criticisms about the government’s readiness and commitment towards ensuring the timely vaccination of Nigerians against the dreaded pande...
Nigerian bank chief calls for review of educational reforms
The managing director/CEO of Sterling Bank Plc, Mr Abubakar Suleiman, has called for a review of Nigeria’s educational system so as to make it relevant to current and future human capital requirements in the country. Suleiman made the call while speaking as a panelist in a session on “Roadmap To Shared Prosperity – Ensuring Inclusive Human Capital Development” at the just concluded 8th Lagos Economic Summit, Ehingbeti 2021. He observed that Nigeria’s current educational system will continue to fail in its role of delivering the human resources needed by industry now and in the future unless the federal government redefines its commitment to the system. According to him, “The educational system that is operational in the country today appears to be only suitable for academia and not for inc...
How ICPC is combating corruption in MDAs, stopped diversion of N189 billion personnel cost
File Photo In the past few years, the Independent Corrupt Practices and Other-Related Offences Commission, as part of its statutory mandate, has been conducting systems study and review of ministries and organisations in the federal public service. The overall objective of a system review is reform of the systems and procedures of public agencies with a view to identifying and eliminating, preventing, blocking and obstructing opportunities for corruption. To achieve this, the exercise targets detecting areas of vulnerabilities, actual weaknesses, leakages and corruption risks and to recommend ways of strengthening these systems and removing the discretionary gaps and such opportunities for both individual and institutional malfeasance on public resources. In addition, the review also targe...
How ICPC is combating corruption in MDAs, stopped diversion of N189 billion personnel cost
File Photo In the past few years, the Independent Corrupt Practices and Other-Related Offences Commission, as part of its statutory mandate, has been conducting systems study and review of ministries and organisations in the federal public service. The overall objective of a system review is reform of the systems and procedures of public agencies with a view to identifying and eliminating, preventing, blocking and obstructing opportunities for corruption. To achieve this, the exercise targets detecting areas of vulnerabilities, actual weaknesses, leakages and corruption risks and to recommend ways of strengthening these systems and removing the discretionary gaps and such opportunities for both individual and institutional malfeasance on public resources. In addition, the review also targe...
Foundation donates N2 million to fix potholes in UNICAL
Tecno An educational foundation, Teacher Essien Ita Ita Educational Foundation (TEIIEF), has presented a cheque of N2 million to the University of Calabar (UNICAL) for the fixing of potholes in the institution. The presentation, which was done at the weekend in the office of the Vice Chancellor of the University, was part of the activities to mark the second year remembrance of the demise of Mrs. Temitope Ekpenyong Ita, wife of Mr. Ekpenyong Ita, a former Director General of the Department of State Services (DSS) and son of the late Teacher Esien Ita, who died March 13, 2019. Speaking shortly after presenting the cheque to the Vice Chancellor of UNICAL, Prof. Florence Obi, the Chairman of the Board of Trustees of the Foundation, Chief Gersh Henshaw said, the organisation was delighted to i...
NDLEA warns against rogue recruitment portal floated by scammers
The National Drug Law Enforcement Agency (NDLEA) has said it was yet to resume the job recruitment it suspended In compliance with stipulations by the Presidential Task Force on the COVID-19 pandemic and that a website purporting the organisation had commenced hiring should be regarded as a scam. NDLEA Head of Public Affairs, Deputy Commander of Narcotics, Jonah Achema, made this disclosure in a statement today. The agency warned the public that scammers were behind the site. Achema said that the recruitment portal circulating on the internet was fake and the public needed to take caution. The agency noted that job scammers, who had created fake NDLEA recruitment portal, had been extorting money from unsuspecting public. NDLEA said: “The agency wishes to inform the general public that ther...
