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CBN launches Nigerian Domestic Card, AfriGo

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CBN launches Nigerian Domestic Card, AfriGo, bans dollar charges on domestic transactions.

The Central Bank of Nigeria (CBN) has launched the Nigerian National Domestic Card Scheme, AfriGo, aimed at creating a more robust payment system that would drive financial inclusion in the country.

Launching the card virtually, this morning, the Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, said that transaction charges on all cards would henceforth be paid in Naira, except for international transactions.

According to him, AfriGo would be cheaper and would be a matter of national pride, with potential to boost financial inclusion.

 

 

Tony Emeka Nwosu

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Federal Government Refutes Speculation of VAT Increase

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The Federal Government has officially dismissed recent reports suggesting that the administration of President Bola Ahmed Tinubu intends to increase Nigeria’s Value-Added Tax (VAT) rate from 7.5% to 10%. In a statement released earlier today, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, clarified that no such proposal is currently under consideration, reaffirming President Tinubu’s dedication to maintaining fiscal stability.

Mr. Edun emphasized that the VAT rate remains unchanged at 7.5%, countering rumors of a pending increase. He underscored the administration’s focus on implementing sustainable economic policies aimed at reducing inflationary pressures without imposing additional burdens on citizens. He also highlighted recent fiscal measures, such as the suspension of import duties on essential goods, as part of President Tinubu’s broader strategy to mitigate economic hardship for Nigerians.

The Minister of Finance stressed the Federal Government’s commitment to transparent communication regarding tax and economic policies to…

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Olayinka Oyetunji’s Journey: From Humble Beginnings to National Recognition

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Olayinka Oyetunji, the esteemed Associate Director at EY, Convener of C.L.E.A.N, Finance Tutor, and Chairman of the Board at Covenant Community Groups, recently reflected on his career journey, highlighting the pivotal moment that marked the beginning of his rise to national prominence.

In a candid discussion about his professional path, Oyetunji recalled a time when recognition seemed elusive. Despite not winning any awards during his primary and secondary school years, he experienced a life-changing moment when he received his first-ever prize from the Institute of Chartered Accountants of Nigeria (ICAN). This prestigious recognition came after he secured third place overall in the ATS 2 examination, a nationwide achievement that thrust him into the spotlight.

Oyetunji shared the profound impact this recognition had on him. “I was a national star,” he said, still amazed by the turn of events. “The irony is that I had never won any prize in primary and…

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Bill Gates Engages Youth Voices in Nutri-Vision Dialogue to Combat Malnutrition Through African Solutions

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Bill Gates, Co-Chair of the Bill & Melinda Gates Foundation, engaged in a dialogue with young leaders, nutrition experts, advocates, and Grammy Award winning musician Jon Batiste. In this dynamic conversation, the participants exchanged transformative ideas that can address malnutrition through health, agriculture, and financing solutions. These include smartphones that can tell farmers which seeds to plant depending on the weather, multiple micronutrient supplements that reduce maternal anemia and save newborn lives, and cooking oil fortified with vitamin A to strengthen immune systems.

 

Vaccines saved millions of lives and improved the health of those children so they can achieve their whole potential

Throughout his opening remarks, Mr. Gates underscored the importance of reducing malnutrition especially in pregnant mothers and young children. He said: “vaccines saved millions of lives and improved the health of those children so they can achieve their whole potential. But now malnutrition is holding back…

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Africa’s Trade Transformation: The Power of Technology for Sustainability (By Arnaud Bouraima)

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By Arnaud Bouraima, Deputy Chief Commercial Officer, Webb Fontaine (https://WebbFontaine.com/). 

 

In the face of mounting global environmental challenges such as climate change, biodiversity loss, and pollution, and increasing focus on environmental, social and governance (ESG) awareness, sustainable trade practices and supply chains have the potential to radically transform Africa’s economic future.

From green logistics to fair trade and circular economy principles, sustainable trade practices have a significant positive impact on global and local trade. In addition to environmental benefits, they enhance market competitiveness and open access to new markets that value a commitment to sustainability.

However, the transition to eco-friendly and sustainable supply chains is reliant on several factors, not least a significant investment in the infrastructure and technology needed to streamline port and customs operations and ensure a smooth entry of goods into the country in question. An understanding of the importance of digital transformation by governments…

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Apple Revolutionizes the Smartphone Market with the Launch of iPhone 16 Series

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By Anthony Emeka Nwosu

Apple Inc. has once again raised the bar in smartphone innovation with the highly anticipated launch of the iPhone 16 series, which is set to redefine user experience with its groundbreaking features and superior performance. The launch, which took place amid much fanfare, introduced two stunning models: the standard iPhone 16 and the more advanced iPhone 16 Pro, both poised to capture the attention of tech enthusiasts globally.

### A Leap in Technology: Unveiling the iPhone 16 Pro and Pro Max

The iPhone 16 Pro and iPhone 16 Pro Max are designed for those who demand the best. With a remarkable leap in display size, the Pro models now feature a 6.3-inch screen on the iPhone 16 Pro and a 6.9-inch screen on the Pro Max, offering an immersive viewing experience. Powered by the cutting-edge Apple A18 Pro chip, these devices promise faster performance and efficiency.

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From Garage to Cybersecurity Titan: ESET Southern Africa Celebrates its 20-Year Journey in Shaping the South African Digital Landscape

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Three web-generations ago, when the word “website” was new, and the familiar words “virus” and “Trojan” gained new meaning in the digital world, an unlikely partnership formed between 18-year-old Justin Stanford and 50-year-old businessman, Erik van Vlaanderen. This partnership led them to create the information security company, 4D Digital Security (4DDS) in 2002, which was the starting point and reason for ESET Southern Africa existing today. Together they went on to change South Africa’s digital security landscape and put the nation on the global cybersecurity map.

 

This year, ESET Southern Africa celebrates 20 years of leading the cybersecurity industry in South Africa, offering product solutions to businesses of all sizes, whether consumer or enterprise. Since their inception, the journey to becoming a cybersecurity powerhouse mirrors the rapid evolution of the South African tech industry.

 

Through a cold call to San Diego in 2003, 4DDS secured the distribution rights for NOD32;…

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NDPC Hosts Capacity-Building Workshop for Health Records Officers, Wins Prestigious Award

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The Nigeria Data Protection Commission (NDPC), in collaboration with the Health Records Officers Registration Board of Nigeria, recently organized a capacity-building workshop aimed at enhancing the skills of Health Records Officers from various states across the country. The event, which focused on the critical importance of data protection in the health sector, was inaugurated by the Minister of State for Health, Dr. Tunji Alausa, represented by his Senior Technical Assistant, Dr. Mrs. Obiajulu Ugbo. The National Commissioner and CEO of NDPC, Dr. Vincent Olatunji, delivered the opening remarks.

Dr. Olatunji highlighted the sensitive nature of health data, emphasizing the need for rigorous protection measures. He stressed the significance of the training, noting that the participants represent over 40,000 health professionals responsible for managing health records nationwide. To illustrate the potential risks, he shared real-life case studies demonstrating the severe consequences of data…

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NNPC Limited Partners with China Engineering & Machinery Corporation for Gwagwalada Independent Power Plant Project

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In a landmark move to enhance Nigeria’s power generation capacity, NNPC Limited has signed a Memorandum of Understanding (MoU) with China Engineering & Machinery Corporation (CMEC) for the co-funding of the Gwagwalada Independent Power Plant (GIPP) Phase-1 Project. The signing ceremony took place in Beijing this Thursday, reflecting the deepening collaboration between Nigeria and China in the energy sector.

The MoU was signed by Mr. Olalekan Ogunleye, Executive Vice President, Gas Power & New Energy of NNPC Limited, and Mr. Zhang Daguang, Chairman of CMEC Nigeria. This agreement represents a significant step forward in the development of the GIPP, which is part of Nigeria’s broader strategy to utilize its abundant gas resources for sustainable power generation and industrial growth.

The Gwagwalada Independent Power Plant, also known as the Abuja IPP, is a 350-megawatt gas-fired power project that forms a key component of the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline Project. The AKK pipeline,…

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