REPS STEP DOWN MOTION FOR SUSPENSION OF CYBER SECURITY LEVY. (PHOTO).

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 Reps Step Down Motion For Suspension Of Cybersecurity Levy The House of Representatives has stepped down a motion calling for the suspension of the cybersecurity levy which has elicited negative reactions from Nigerians. Honourable Manu Soro, who moved a motion on the floor of the house on Wednesday, had explained that the levy was coming at the wrong time, considering the current living conditions of Nigerians. The lawmaker had argued that the National Security Adviser is a political office, and has no mandate to manage accruals. However, the Speaker, Tajudeen Abbas, urged the lawmaker to step down the motion to allow the leadership of the House to deliberate on how best to address the situation. The Nigeria Labour Congress (NLC), had described the planned cybersecurity levy introduced by the Central Bank of Nigeria (CBN) on all electronic transactions as another burden on Nigerians. According to a circular issued to various financial institutions, including commercial, merchant, non
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CBN ALERTS NIGERIANS ON FAKE NAIRA NOTES IN CIRCULATION. (PHOTOS).#PRESS RELEASE

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There are fake Naira notes in circulation, CBN alerts Nigerians


The Central Bank of Nigeria, CBN, today alerted banks and Nigerians to beware of counterfeit bank notes, especially higher denominations now spent in food markets and other commercial hubs in the country.


According to Apex Bank, it is an offense punishable by imprisonment for any person to falsify, make, or counterfeit any bank note or coin issued by the CBN.


CBN disclosed this in a statement signed by its Acting Director, Corporate Communications, Mrs. Sidi Ali, Hakama.


CBN said, “The attention of the CBN has been drawn to the circulation of counterfeit banknotes, especially higher denominations, by some individuals for transactions in food markets and other commercial centres across major cities in the country.


“For the avoidance of doubt, Section 20(4) of the CBN Act (2007), as amended, states that it shall be an offense punishable by a term of imprisonment of not less than 5 years for any person to falsify, make, or counterfeit any bank note or coin issued by the Bank which is legal tender in Nigeria.


“The CBN is in constant collaboration with relevant security and financial agencies to confiscate fake Naira banknotes, arrest and prosecute counterfeiters.


“Members of the public are also encouraged to report anyone suspected of having counterfeit naira notes to the nearest police station, branch of the CBN or via contactcbn@cbn.gov.ng.


“Meanwhile, all Deposit Money Banks, Financial Houses and Bureau de Change and the general public are enjoined to be more vigilant and take all necessary precautionary measures to curtail the acceptance and distribution of counterfeit notes.


“Furthermore, the general public is encouraged to embrace alternative modes of payment, e-channels, for day-to-day transactions to mitigate the risk of spreading counterfeit banknotes.

One more photo below. 

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