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National Economic Council Endorses Finance Bill 2022

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National Economic Council Endorses Finance Bill 2022

Nigeria’s vice president, prof. Yemi Osinbajo says the country is in a better position to advance its capital markets locally and globally with the largest concentration of young people in the primary market and more room to redefine exchange for international competitiveness.

Prof. Osinbajo expressed this view in his keynote speech on Tuesday in Abuja at the first capital market conference of the Nigerian exchange (NGX) group.

The vice president, who emphasised the digital transformation of the markets, highlighted the many opportunities this move would provide for the capital markets, which includes bringing in more young investors.

He advised the adoption of technology “to bring in a new crop of young investors, many of who use their smartphones primarily for engaging with commerce and banking activities today.

The vice president also noted the efforts of the NGX technology board to attract tech companies he referred to as ‘the present and future tech unicorns’ to the market as a viable option for raising capital. 

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Prof. Osinbajo, who noted that this was probably the most exciting time in the history of capital markets in Nigeria, added that the African continental free trade agreement also offered exciting new prospects for cross-border listings, activity, and the formation of long-term capital.

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SERAP Urges Court to Bar Security Agencies from Accessing NIN Details

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SERAP Urges Court to Bar Security Agencies from Accessing NIN Details

Socio-Economic Rights and Accountability Project (SERAP) has urged a Federal High Court in Lagos to restrain security agencies from accessing people’s personal details via NIN-SIM linkage without due process of law.

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The civic society organization, in the suit which is yet to be assigned to a judge, is asking the court to determine “whether the approval for security agencies to access people’s personal details via the National Identification Number [NIN] without due process is consistent with the principles of legality, necessity, and proportionality.

The organization is also praying the court for an order setting aside President Buhari’s approval for security agencies to access people’s details via NIN-SIM linkage without due process of law, as this amounts to violations of private and digital communication rights, right to family life, human dignity and personal liberty.”

It is further urging the court for an order of perpetual injunction restraining the Federal Government or any other authority, persons or group of persons from unlawfully accessing people’s personal details via NIN-SIM linkage without due process of the law.

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Nigeria, Japan Launch I-Hatch Startup Incubation Programme to Develop Scalable Business Models

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Nigeria, Japan Launch I-Hatch Startup Incubation Programme to Develop Scalable Business Models

The Nigerian and Japanese governments have announced the launch of an idea hatch (i-hatch) startup incubator programme for bootcamps to develop scalable business models in Nigeria.

This was disclosed in a statement by the National Center for AI and robotics in Nigeria (NCAIR) alongside the Japanese Ambassador to Nigeria, Matsunaga Kazuyoshi with other dignitaries from the Japan International cooperation agency.

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The programme is expected to focus on ICT innovations and entrepreneurship.

The organization said the Director General, National Information Technology Development Agency, Kashifu Inuwa, hosted kazuyoshi alongside fellow dignitaries from the Japan International Cooperation Agency during the opening ceremony of Idea hatch (ihatch) startup incubation programme cohort one-2022.

Read Also: NASS Affirms States’ Power to Collect VAT

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MTN, Mafab Pay $273.6 Million Each for 5G Licence

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MTN Communications Nigeria Plc and Mafab Communications Limited, have made full payment of 273.6 million dollars each for the 5G Spectrum license to the Nigerian Communications Commission.

 

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The Executive Vice Chairman of the NCC, Umar Danbatta, confirmed the payment Thursday.

MTN Nigeria, Mafab Communications Ltd and Airtel Networks Ltd submitted bids with an initial bid deposit of 19.74 million dollars, representing 10 per cent of the reserve price by the close of the bid submission date of November 29, 2021.

The Commission said following the successful auction on December 13, 2021 and the emergence of MTN and Mafab as winners, they were required to pay the balance of the bid amount of $253.86 million on or before February 24, 2022.

 

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