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BDCs committed to checkmating attack on the Naira – ABCON boss

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The President, Association of Bureau De Change operators of Nigeria (ABCON), Aminu Gwadabe, says the BDC operators are committed to wading off attacks on the Naira by speculators.

Gwadabe said this in an interview with journalists on Wednesday in Abuja.

According to him, ABCON, as a self-regulatory body, has platforms to check excesses of BDC operators.

“We have inaugurated state chapters whereby we can have a data repository of participants in the forex market.

“This is for the Financial Action Task Force (FATF) to understand this market and to know the participants, give them a simple registration,” he said.

Gwadebe said that what the foreign exchange market needed was a kind of harmonisation; a centralisation and KYC to know all participants in the business.

“This will enable the CBN to track other players in the market other than the BDCs and their levels of involvement.

“The BDCS are collaborating with the regulatory authorities for physical verification of offices using technology.

“We want to balance international obligations with our own objectives. International obligations are templates that have been built without our input.

“We are coming with our own template to balance it. We have seen some illegal economic behaviour, and the CBN and the security agencies are aware, and I am sure they will nip it in the bud,” he said.

He said that the recent wave of depreciation of the Naira was of concern to the BDCs operators.

“I am happy that the authorities, and even the BDCs as operators, have identified the peer-to-peer (P2P) platform.

“The P2P is a platform like the Binance, where speculators use the dollar to buy USDT, a stablecoin that is pegged at one to the dollar.

“As long as Binance and such other platforms continue to be profitable, the Naira will continue to depreciate.

“There are many of them in the system. Binance has been nipped in the bud, but there are still many. They are online platforms with no registration, no restrictions,” he said.

Gwadabe said that the CBN and the security agencies were already aware of the antics of the platforms.

According to him, they are more of an illegal economic behaviour, and the people behind them have no patriotism in them.

“People have turned dollars to be an asset; to be a commodity of trade that is why those platforms continue to thrive.

“We have seen where people are buying dollars into their domiciliary accounts to finance these schemes.

“A lot of millions of dollars are going out from the system. It is one USD to one USDT. The market can be liquid.

“Binance alone has four billion dollars liquidity and more than two million transactions.

“Most of them source money to finance their transactions from the open market, and that is one of the reasons why Naira is depreciating,” he said.

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Oyo Govt unveils free technology skill training for 1,000 students

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As part of its effort to    ensure quality and  sustainable development in the education sector in line with the Omituntun 2.0 Agenda of the state governor, ‘Seyi Makinde, the Office of the Human Capital Development has revealed its readiness to train 1,000 senior secondary schools students on free coding and non-code technology skills.

The Executive Assistant to the Oyo State Governor on Administration, Revd. Idowu Ogedengbe, stated this on Friday, during a Press Briefing held at the Governor’s Office, Secretariat, Agodi, Ibadan.

Ogedengbe noted that the initiative, which is aimed at launching a groundbreaking technology programme to empower senior secondary school students across the 33 Local Government Areas of Oyo State, with technology skills, will be implemented in partnership with some private investors in the technology sector.

He maintained that the training, which will be held between July 15th and July 19th at the International Conference Centre, University of Ibadan, will begin with selected schools in all the eleven (11) local governments in Ibadan Main and Less Cities, while other beneficiaries from the remaining local governments will be trained at a subsequent date.

He said, “This pilot programme will witness an unprecedented event where 1,000 senior secondary school students from the 11 local governments of Ibadan will receive specialised training in coding and non-code tech skills.”

“The next phases of the initiative would see us taking the training to the remaining LGAs with a view to ensuring that the impact is widespread and even across all the constituencies in Oyo State.

“This initiative marks a significant milestone in our commitment to providing quality education and preparing our youth for the challenges and opportunities of the 21st century.

“CodeGarage Africa has been at the forefront of promoting digital literacy across Africa, and we are delighted to partner with them in this endeavour with the support of Zeeh Africa and 386Konsult. We aim to equip our students with the tech skills and knowledge necessary to thrive in the increasingly digital world.

“The importance of coding or non-code tech skills cannot be overstated in today’s society, from driving innovation to solving complex problems, tech skills are a fundamental skill that opens doors to countless opportunities.

“Introducing coding education to our senior secondary school students will allow us to lay the foundation for a future where they can excel in technology-driven fields and contribute meaningfully to the development of our state and beyond.”

Ogedengbe added that the programme is in tandem with the vision of Governor Makinde on education, as his government’s policy is not only to invest in the future of the youths but to also position Oyo State as a hub for innovation and technological advancement.

He, therefore, encouraged stakeholders, including parents, educators, and the private sector, to support and participate in the laudable programme to unlock the full potentials of the young stars to become leaders in the digital age.

In their remarks, the partnering private investors, CodeGarage Africa, Miss Dolapo Ayeni and her counterpart, Zeeh Africa, Mr David Adeleke, said training the students from the grassroots level is very useful to the ecosystem.

They added that it is another way of catching them young and also exposing them to entrepreneurship, even as they called for more partners to collaborate with the Oyo State government.

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We registered below 3,000 data controllers, processors despite identifying 500,000 — NDPC Commissioner

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By Matthew Denis, Abuja

The National Commissioner and Chief Executive Officer of Nigeria Data Protection Commission (NDPC), Dr. Vincent  Olatunji has disclosed that the level of compliance for the registration by data controllers and processors given by the commission is still low.

He revealed that they have only registered below 3000 Data controllers, processors despite identifying 500,000 in the country.

The Commissioner made the disclosure during an exclusive interview with Nigerian NewsDirect at his office in Abuja on Thursday.

Recall that the agency has notified all entities, including businesses, educational institutions, healthcare providers, and other organisations that collect personal data of individuals, that registration is mandatory in accordance with Section 5(d) of the Nigeria Data Protection Act, 2023.

The Commission had commenced registration on January 30th, 2024 to conclude on June 30th, 2024 and added that entities that fail to register within this time frame will be subject to penalties.

Dr. Olatunji while speaking to NewsDirect said, “the ecosystem  is just revolving and a lot of people don’t really understand what we’re talking about regarding Data controllers, Data processors. That’s why we’re going loud to create awareness.”

 The Commissioner stressed that they’re done with the first phase and very soon they will commence with the second phase the need for them to register which speaks on the reputation  of their organization, compliance and credibility and one thing that this will create is trust and confidence in your data processing activities  as an organization.

“We have up to the end of June, 2024 for all of them to register and we’re starting another massive campaign for them to register in the next two weeks.”

According to him in terms of compliance for registration with the commission the situation is still low.

He said, “When we started in 2022 we had about 1,777 data controllers and processors and last year it rose to over 2,000 but it’s very low when compared to the number of data controllers and processors we have identified in the country.

“We have identified about 500,000 and today we’re doing less than 3000 that means we have not even started at all, that is why we’re speaking to stakeholders and bringing everybody onboard.

“We have released the guidelines strategy telling you who qualifies as a Data controllers and processors and their categories in the country.”

The Commissioner emphasised that it’s their expectation that Nigerians will embrace the programme and key into it for the safety of the country with accurate data collection and protection.

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Air Chief visits Kano, assures of sustained peace

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The Chief of the Air Staff (CAS), Air Marshal Hasan Abubakar has recently embarked on a working visit to Kano State to deepen collaboration with stakeholders in the state for unstained peace.

The CAS made his first port of call to the Kano State Governor, Alhaji Abba Kabir Yusuf.

Speaking, the Governor said the relative peace and tranquility being experienced across Kano State is majorly due to the joint efforts of all the security agencies in the State.

“The troops of 455 Base Services Group (BSG), Nigerian Air Force (NAF), Kano have been part of this success story, having been serving as part of the security Joint Task Force operating in the State,” he said.

Speaking further, Governor Kabir commended the NAF for its efforts, alongside other security agencies, at containing the security challenges of insurgency, terrorism, kidnapping and banditry that have particularly bedeviled the northern part of Nigeria.

He then assured the CAS that, in view of the constraints of fundings being experienced by the various security agencies, he would continue to support the NAF units in Kano as they synergise with other security agencies to checkmate the activities of criminals in the State.

Air Marshal Abubakar also paid a courtesy call to the Chief of the Air Staff (CAS), Air Marshal Hasan Abubakar, paid Emir of Kano, His Royal Highness, Alhaji Aminu Ado Bayero, who traced the history of the long and cordial relationship that has existed between the NAF and Kano State.

He also revealed that he has maintained keen interest on the monumental strides of the NAF in curtailing the activities of criminal elements in the entire country through the effective utilisation of air power. He then praised the CAS for the discipline and professionalism he has brought to bear in the execution of his responsibility while assuring him of the support of the Emirate in the discharge of his duty.

Responding to the Governor, Air Marshal Abubakar praised him for his unwavering commitment to security, economic growth, and social development as well as his commitment towards a Kano State that exemplify a shining example of peace, progress and tranquility.

He also went on to appreciate the Governor for his immense support to the NAF which has contributed significantly to ongoing operations and the attainment of its mandate as it strives to ensure the State and the entire country is peaceful, safe, and secured for economic activities to thrive.

While at the Emir of Kano’s Palace, Air Marshal Abubakar informed the Emir that he would continue to value the strong bond the NAF shares with traditional institutions in the country, as they serve as the bridge between their subjects and the military.

He also assured him of the Airforce continued collaboration with the Emirate Council in the socio-economic and cultural development of the State.

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