President Bola Ahmed Tinubu

By Uzair Adam

The Organization of Petroleum Exporting Countries (OPEC) has extended its deepest gratitude to the Federal Government of Nigeria as it celebrates its 64th anniversary.

Speaking on the occasion, the OPEC Secretary-General Haitham Al Ghais acknowledged the significant role Nigeria has played in the organization since its membership began in 1971.

He commended Nigeria for its unwavering support in maintaining a stable and balanced global oil market.

Reflecting on the historic meeting in Baghdad 64 years ago, Al Ghais emphasized the foundational agreement signed by the five original members: Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela.

He stated that, “This event marked the inception of OPEC and a new era of international energy collaboration.”

Al Ghais recognized the leadership of Nigerian officials, including President Bola Ahmed Tinubu, Minister of State for Petroleum Resources Heineken Lokpobiri, Ambassador Gabriel Tanimu Aduda, and National Representative Mele Kyari.

He also highlighted the contributions of all OPEC member countries, past and present, including heads of state, ministers, governors, and the dedicated staff at the Secretariat.

As September 14, designated as OPEC Day, is observed, Al Ghais called for reflection on OPEC’s journey and anticipation of its future prospects.

He expressed confidence that the organization’s most significant achievements are yet to come and encouraged continued participation in shaping its future.

The message concluded with a heartfelt wish for a happy OPEC Day to all members and partners.

By Nuraddeen Danjuma Maiwada

Mr. President sir, I hope this finds you in good health and high spirits. I am writing to bring to your attention the special relationship that exists between the people of Northern Nigeria and the Republics of Niger, Mali and Burkina faso, our beloved neighbors.

In Northern Nigeria, especially in towns and cities close to Niger Republic’s borders, Nigeriens are not just our neighbors, but also our relatives. The bond we share transcends borders, as we are interconnected through history, language, and culture. It is impossible to deny the fact that our roots run deep in both lands.

Our kingdoms, trade, religion, culture were the same untill colonialism and much beyond. The Frontline regions of Niger Republic namely Dosso, Tahoua, Maradi, Zinder and Diffa share common ancestry and culture with Nigeria’s Kebbi, Sokoto, Zamfara, Katsina, Jigawa, Yobe and Borno States. Emir of Maradi is still called Sarkin Katsinan Maraɗi

Despite the existence of artificial boundaries that separate us on maps, we are essentially the same people. Our shared histories and intertwined cultures make it evident that Niger, Mali and Burkina faso Republics hold a special place in our hearts. This kinship between our nations is based on a strong foundation of mutual respect, understanding, and cooperation.

In light of this, I implore you, dear President Tinubu, to adopt a peaceful approach instead of confrontation when it comes to dealing with neighbors. This approach recognizes the deep ties we share and seeks to strengthen the bonds between our nations rather than tear them apart.

By choosing dialogue and peaceful negotiations, we can establish a prosperous future for both our nations. Joint efforts in areas such as trade, education, healthcare, and security will not only benefit us but also foster a stronger sense of unity and collaboration among our people.

It is essential to remember that our shared interests and aspirations far outweigh any differences that may arise. By fostering peaceful relations, we can unlock tremendous potential for development, progress, and stability in the region.

As leaders, it is our duty to foster an environment that encourages harmony and collaboration. Let us set an example for the rest of the world by showcasing how two nations, intertwined by history and shared values, can resolve any differences through peaceful means.

I remain hopeful that under your leadership, our nations will continue to strengthen the bonds of brotherhood and cooperation. Together, we can build a future where all countries in ECOWAS and Nigeria thrive side by side, united in peace and prosperity.

Nuraddeen Danjuma Maiwada
Bayero University Kano
25.02.2024

By Mukhtar Sani Yusuf

Nigeria grapples with a multitude of complex challenges that defy easy solutions. While there is no single panacea, I firmly believe that by addressing two crucial elements, the nation can transcend its current predicaments and ascend to greater heights.

The pivotal factors that can propel Nigeria toward progress are effective leadership and a collective shift in the attitudes of its citizens. It is imperative that we harmonize these two aspects to achieve the transformative outcomes we aspire to see.

One prevalent tendency is to attribute Nigeria’s woes solely to its leaders, given their authority and access to resources for nation-building, economic development, law enforcement, and governance. Regrettably, instances abound where leaders have misappropriated resources or allowed wrongdoers to evade accountability, further exacerbating our challenges.

However, it is imperative to recognize that even with competent leaders at the helm, the onus lies on us to cultivate a positive mindset that complements leadership efforts in nation building. While poor governance accounts for a significant portion of our struggles, the remaining share of responsibility rests on our collective attitudes toward various facets of society.

Consider this: whether you are a laborer, teacher, banker, or any other professional, are you genuinely fulfilling the expectations set by your employers or clients?

Acknowledging our fallibility as humans, it is crucial to introspect and ascertain whether the majority of our actions align with ethical standards. If not, we must acknowledge our role in perpetuating challenges and recognize that transformative change begins with personal responsibility.

When juxtaposed with developed nations, the disparity is not due to any inherent superiority but rather the dedication of their citizens to national progress. Rome was not built in a day; it required a relentless commitment and a patriotic work ethic from its inhabitants. Similarly, Nigeria holds immense potential, with its vast population and abundant resources, waiting to be harnessed for prosperity.

To witness the transformation we yearn for, each of us must instigate a change in attitude within our spheres of influence. We must combat corruption, reject impunity, uphold honesty, punctuality, and dedication in our endeavors, make informed electoral choices, and embody patriotism that prioritizes the national interest. Without these shifts in mindset, the utopia we envision for Nigeria remains elusive.

In essence, the solution to Nigeria’s challenges lies not in a singular solution but in the collective evolution of our attitudes. The nation’s reservoir of human capital and natural resources presents boundless opportunities for progress, awaiting judicious utilization.

May Nigeria and its people be blessed on this journey towards a brighter tomorrow, amin.

Mukhtar Sani Yusuf wrote from Kano.

By Ibrahiym A. El-Caleel

Muhammad Mansur Ibrahim Sokoto mni, a professor at Usmanu Danfodiyo University Sokoto (UDUS) and the Chief Imam of Abu Hurairah Mosque, has commented on recent initiatives by the Kano State Public Complaints and Anti-Corruption Commission (PCACC) and the Federal Competition & Consumer Protection Commission (FCCPC) aimed at addressing the escalating inflation nationwide. His remarks follow President Bola Tinubu’s commendation of PCACC’s efforts in scrutinizing the alleged hoarding of goods by businesspeople.

The President, who spoke through his Special Adviser on Information & Strategy, Bayo Onanuga, lauded the Kano government and urged other state governors to follow suit. Earlier on Friday, FCCPC also reportedly sealed Sahad Stores, a popular Abuja shopping mall, over “misleading pricing practices and lack of transparency”, later reopening it after reaching a mutual understanding with the store.

The actions of PCACC and FCCPC have triggered discussions on social media as Nigerians grapple with rising commodity prices. Under Barrister Muhuyi Magaji Rimingado’s leadership, Kano State PCACC has reportedly sealed over a dozen warehouses, accusing businessmen of hoarding grains and essential commodities.

A widely circulated video showed a warehouse owner explaining that the stored grains were intended for supply to NGOs like the United Nations and ECOWAS, engaged in aiding internally displaced persons (IDPs) in North-Eastern states.

Professor Mansur Sokoto mni weighed into the conversation in two separate posts on his Facebook profile, initially posing five critical questions:

1. “Is the ongoing food inflation solely attributable to businessmen storing grains in warehouses?
2. Without warehouses for grains, where will imported commodities be stored before distribution for purchase?
3. Does the surge in prices affect only food, or are other commodities like steel, wood, gold, petrol, and clothing also impacted?
4. Have commodity prices simply risen, or is the devaluation of the Naira a contributing factor? If Naira devaluation is the cause, who is responsible?
5. Are the commodities stored in these warehouses completely unavailable in the market, indicating hoarding?

The Islamic scholar emphasized that leaders should be aware of the actual sources of the prevailing hardship and avoid actions that exacerbate challenges. Responding to a commenter’s question on Islam’s stance on hoarding, Professor Sokoto clarified the following six points on what is permissible (halal) and forbidden (haram):

1. It is permissible for an individual to cultivate food crops in any quantity, whether for personal consumption or for storage, with the intention of selling at a later time, provided that he/she has fulfilled the obligatory almsgiving, known as “Zakah”.

2. It is permissible for an individual in need of food to purchase, consume, and store it to prevent potential future cost increases.

3. It is permissible for a businessman to store food crops that he has ordered, intending to sell them later, periodically, according to market demand.

4. It is permissible for a businessman to purchase a food crop during its season, anticipating future value increases, with the intention of selling it for profit. This is permissible according to a valid opinion.

5. It is both permissible and even encouraged for financially capable individuals to buy what they and their families will consume- including items they will give as charity- for a long time, especially when food prices are rising without clear signs of decline. This perspective aligns with the viewpoint of Shaikh Ibn Uthaimeen.

6. What is NOT permissible is for businessmen to acquire food during periods of high prices and hoard it with the intention of causing hardship to the public. Similarly, it is forbidden for businessmen to accumulate and store food during scarcity periods, withholding it from the market until demand peaks. At this point, they sell it at exorbitant prices. In such instances, government authorities are authorized to compel the businessman to sell the stored food at the standard market price without imposing a loss on the sale.

Having outlined these positions, Professor Sokoto critiqued the recent actions of breaking into warehouses, deeming them inappropriate. He questioned whether the businessmen violated Nigerian laws, emphasizing that their practice is not against Islamic injunctions as they maintain inventory for trade and strategic partnerships.

He implored the government to investigate the actual causes of hardships, citing fuel subsidy removal, Naira floating, border closure, and taxation as contributors. Professor Sokoto cautioned against temporary solutions, advocating for sustainable measures and discouraging the use of the National Strategic Grain Reserve to artificially lower food prices. He drew lessons from past strategies and urged the government to avoid short-term approaches.

By Muhammad Abdurrahman

Former Vice President, Alhaji Atiku Abubakar, tackles President Bola Ahmed Tinubu over the hardships caused by the latter’s policies since assuming office as President in May 2023.

In a post on his verified social media handles, Atiku calls out Tinubu, calling the steps taken by his administration to contain the crises of currency fluctuation and poverty many people face in Nigeria “failures.”

The statement reads:

At a meeting called at his instance on Thursday to address the Foreign Exchange crisis and the problem of economic downturn, among others, Bola Tinubu failed, yet again, to showcase any concrete policy steps that his administration is taking to contain the crises of currency fluctuation and poverty that face the country.

Rather, he told the country and experts who have been offering ideas on how to resolve the crisis that he and his team should not be distracted and allowed time to continue cooking their cocktail that has brought untold hardship to the people of Nigeria.

I don’t agree with that.

The wrong policies of the Tinubu administration continue to cause untold pain and distress on the economy and the rest of us cannot keep quiet when, clearly, the government has demonstrated sufficient poverty of ideas to redeem the situation.

If the government will not hold on to their usual hubris, there are ways that the country can walk out of the current crisis.

After a careful assessment of the state of our economy at the twilights of the last administration, I knew full well that the economy of the country was heading for the ditch and came up with a number of policy prescriptions that would rescue the country from getting into the mess that we are currently in.

Those ideas, encapsulated in my policy document titled: My Covenant With Nigerians made the following prescriptions:

1. I had signed on to a commitment to reform the operation of the foreign exchange market. Specifically, there was a commitment to eliminate multiple exchange rate windows. The system only served to enrich opportunists, rent-seekers, middlemen, arbitrageurs, and fraudsters.

2. A fixed exchange rate system would be out of the question. First, it would not be in line with our philosophy of running an open, private sector friendly economy. Secondly, operating a successful fixed-exchange rate system would require sufficient FX reserves to defend the domestic currency at all times. But as is well known, Nigeria’s major challenge is the persistent FX illiquidity occasioned by limited foreign exchange inflows to the country. Without sufficient FX reserves, confidence in the Nigerian economy will remain low, and Naira will remain under pressure. The economy will have no firepower to support its currency. Besides, a fixed-exchange rate system is akin to running a subsidy regime!

3. On the other hand, given Nigeria’s underlying economic conditions, adopting a floating exchange rate system would be an overkill. We would have encouraged the Central Bank of Nigeria to adopt a gradualist approach to FX management. A managed-floating system would have been a preferred option. In simple terms, in such a system, the Naira may fluctuate daily, but the CBN will step in to control and stabilize its value. Such control will be exercised judiciously and responsibly, especially to curve speculative activities.

4. Why control, you may ask.

(i). Nigeria has insufficient, unstable, and precarious foreign reserves to support a free-floating rate regime. Nigeria’s reserves did not have enough foreign exchange that can be sold freely at fair market prices during crises.

(ii). Nigeria is not earning enough US$ from its sales of crude oil because its production of oil has been declining. And,

(iii). Nigeria is not attracting foreign investment in appreciable quantities.

These are enough reasons for Nigeria to seek to have a greater control of the market, at least in the short to medium term when convergence is expected to be achieved.

Tinubu’s new policy FX management policy was hurriedly put together without proper plans and consultations with stakeholders. The government failed to anticipate or downplayed the potential and real negative consequences of its actions.

The Government did not allow the CBN the independence to design and implement a sound FX Management Policy that would have dealt with such issues as increasing liquidity, curtailing/regulating demand, dealing with FX backlogs and rate convergence.

I firmly believe that if and when the Government is ready to open itself to sound counsels, as well as control internal bleedings occasioned by corruption and poorly negotiated foreign loans, the Nigerian economy would begin to find a footing again. – AA

By Abdullahi D. Hassan

Nigeria is described as the most populous black nation in the world, with over 200 million inhabitants, Africa’s biggest economy, and endowed with variant mineral deposits to improve the living standards of its citizens. Yet, the country is bedevilled by gross corruption. Poor governance, ethnic tension, and abject poverty threaten integrity and sovereignty.

Even though, in the past, Nigeria witnessed serial military rulers, The nation transitioned to democracy in 1999. Since then, Nigeria’s leadership has emerged; leaders have been elected from different platforms and regions. Thus, the problems lingered; most elections were marred by irregularities, political interference, and power tussles from one inch to the next.

The political parties adopt the concept of rotating power between the north and south to accommodate the plural ethno-religious groups in the country. After the two tenures of Muhammadu Buhari. Bola Tinubu was nominated by the All Progressive Congress (APC). Amidst serials of allegations labelled against him by the opposition to hinder his andidacy, The bulk of Nigerians were enthusiastic about the level of experiences and transformation built in Lagos from 1999 to 2032.

On May 29, a new Nigeria’s president, Bola, was sworn in. In his inauguration speech, he made a striking remark on Nigeria, mentioning, ‘Subsidy has gone, the controversial fuel subsidy scheme. Four decades of financial assistance were institutionalised in the 1970s by the government to minimise the excessive cost of fuel (Premium Motor Spirit) to consumers and affordability to average citizens. Within a week’s time, the prices of basic household items, transport fares, and electricity began to rise at a high pace. Thus, fuel subsidy is the direct government intervention for the common man that benefits directly, without an odd process. Subsequently, the price increment affects the pharmaceutical industry acutely.

In recent months, patients from economically deprived backgrounds with terminal illnesses and diseases have been on recommended drugs and life-support medications. They are exposed to the brunt of fuel subsidy removal principles. Patients with asthma, diabetes, cancer, hypertension, and sickle cell diseases find it hard to afford medications at exorbitant prices. Due to financial hardship, inflation, and 1000 per cent hikes in drug prices.

GlaxoSmithKline (GSK), a British pharmaceutical and biotechnological company, withdraws from Nigeria. After 51 years of operation, The pharmaceutical firm is known for producing effective drugs, anti-biotics, anti-asthma, anti-malaria, allergy relief, painkillers, pain cream, and nasal decongestion. According to the report by the International Centre for Investigative Reporting (ICIR), GlaxoSmithKline Consumer Nigeria faced a setback in sales of N7.75 billion ($9.83 million) from N14.8 billion last year. GlaxoSmithKline’s existence leads to a drug hike, patients being unable to have medication and an increase in fake drugs. Similarly, GSK faces challenges from the high cost of importation of active pharmaceutical ingredients (APIs), a lack of steady power supply, and the depreciation of the naira against the US dollar.

According to the National Bureau of Statistics (NBS), the value of pharmaceutical products imported into Nigeria rose by 68 per cent to N81.8 billion ($99.1 million) between July and September 2023. The reports revealed that most of the drugs were imported from China, India, the United States, France, and Germany.

From the price survey across the country, the drugs were selling: asthma inhalers from N4,000 ($4.86) to N12,000 ($14.57), hypertension drugs from N10,000 ($12.14) to N20,000 ($24.28), augmentin tablets from N6, 000 ($7.28) to N24, 000 ($29.14), and Glucophage from N3, 800 ($4.61) to N6, 200 ($7.53). The prices vary between cities and regions.

David Uja, 63, a retired army officer frail from prostate cancer, undergoes chemotherapy for two sessions. Each cost him $100. She said, “For almost two months. All the prescribed drugs I used have already expired. The little pension received from the government is not enough to buy medicines at a high price. The economy is bad for us; people battle deadly sickness.”

“After I complained to my doctor, who relocated to the UK, Thanks to him, he sent me an Orgovyx tablet via courier, an expensive drug over $400, said Mr David.

Dataphyte reports that in 2021, only three per cent of the Nigerian population will have health insurance. Despite the guidelines of the National Health Insurance Scheme (NHIS), it is mandatory for Nigeria to benefit from the insurance. Public servants have smooth access to it. An employer will contribute 10% of the monthly basic salary, while the employee contributes 5%. The insurance covers the contributor, spouse, and four biological children less than 18 years old. The current monthly minimum wage is $44.45. Technical non-government workers are denied access to health facilities and medication.

In October, the Central Bank of Nigeria lifted the ban on 43 items after 8 years to allow access to foreign exchange and import-listed goods in the country. Never, pharmaceuticals and medical essentials are excluded from the list.

Interestingly, oil is the mainstay of Nigeria’s economy. Even so, the country has remained poor, with its citizens living below the poverty line of $1 per day. Nigeria has been nearly six months without a fuel subsidy. The majority of Nigerians are unable to afford standard health service delivery. These led to fast and quick deaths among the vulnerable. Others reside in rural areas that lack the means to buy drugs at a high rate. Alternative to traditional medicines.

Therefore, deciding on traditional medicine, given its low cost of purchase, Such medicine lacks a scientific approach, and most traditional doctors determine the nature of an ailment by mere observation. Outwardly of any examination and sometimes depend on spiritual healings in order to detect the course of sickness. These have made life more difficult in a nation with a life expectancy of 53.87 years.

Abdullahi D. Hassan is a freelance journalist and writer from Abuja, Nigeria. His journalistic and literary pieces were published in Daily Trust, The Guardian, Triumph, Politics Today, The Daily Reality, and Kalahari Review.     

By Uzair Adam Imam

The appointment was disclosed in a statement Friday by the Special Adviser to the President ( Media & Publicity), Chief Ajuri Ngelale.

President Bola Tinubu has given his nod to the appointment of Ali Nuhu, aka the King of Kannywood, and ten other distinguished individuals to spearhead various agencies under the Federal Ministry of Art, Culture, and Creative Economy.

The appointments could be seen as a strategic move to foster growth and innovation in the arts, culture, and creative economy sector.

The recently appointed Chief Executive Officers are set to bring a fresh wave of leadership and expertise to their respective roles:

1. Tola Akerele: Takes the helm as the Director-General of the National Theatre.

2. Dr. Shaibu Husseini: Assumes the role of Director-General at the National Films and Censors Board.

3. Mr. Obi Asika: Appointed Director-General of the National Council for Arts and Culture.

4. Aisha Adamu Augie: Steps into the position of Director-General at the Centre for Black and African Arts and Culture.

5. Ekpolador-Ebi Koinyan: Appointed Chief Conservator of the National War Museum.

6. Ahmed Sodangi: Assumes the responsibility of Director-General at the National Gallery of Art.

7. Chaliya Shagaya: Takes on the role of Director-General at the National Institute of Archeology and Museums Studies.

8. Hajiya Khaltume Bulama Gana: Appointed Artistic Director of the National Troupe of Nigeria.

9. Otunba Biodun Ajiboye: Assumes the position of Director-General at the National Institute for Cultural Orientation.

10. Ali Nuhu: Takes charge as the Managing Director of the Nigerian Film Corporation.

11. Ramatu Abonbo Mohammed: Assumes the pivotal role of Director-General at the National Commission for Museums and Monuments.

By Muhammad Mikail

On the 12^th of June 2023, President Bola Ahmed Tinubu signed the Nigeria Data Protection Bill into law, setting the historic course for a new data-protected Nigeria. As a matter of fact, the bill was among the very first bills assented to by President Bola Ahmed Tinubu upon assumption of Office. This is no doubt a demonstration of Nigeria’s commitment to safeguarding digital privacy and building trust with global partners and stakeholders; a bold statement and alignment with the cliché’ ‘hit the ground running.’ 

The newly assented Data Protection Act 2023 provides a legal framework for the protection of personal information, safeguarding people’s basic rights and freedoms while supporting the establishment of ‘The Nigeria Data Protection Commission (NDPC)’ for the regulation of the processing of personal information and data. Hence, the law doesn’t only address privacy concerns but also sets the stage for responsible data usage, fostering a secure, trustworthy and progressive digital economic environment.

This also signifies the Federal Government of Nigeria’s full-proof commitment to the “Digital Transformation Strategy for Africa (2020-2030)” as commissioned by the African Union (AU). The overarching objective of the “Digital Transformation Strategy for Africa (2020-2030)” is for every country within the African continent “to harness digital technologies and innovation to transform African societies and economies to promote Africa’s integration, generate inclusive economic growth, stimulate job creation, break the digital divide, and eradicate poverty for the continent’s socio-economic development and ensure Africa’s ownership of modern tools of digital management.” The Nigeria Data Protection Commission will be a major player in achieving this lofty goal.

At one point, there was a lot of scepticism by development partners, international financial institutions, critical stakeholders in the digital economy and even potential investors about Nigeria’s lack of data protection legislation.       

Addressing these concerns, the Federal Government of Nigeria, under former President Muhammadu Buhari, established the Nigeria Data Protection Bureau (NDPB) in 2022 as the regulatory institution responsible for ensuring that people’s personal information is kept private and safe when used for ‘digital things’ with Dr Vincent Olatunji as the National Commissioner. However, the Bureau lacked a law establishing it and giving it the robust legal framework required for a full-fledged agency of government to adequately address issues bordering on the security and privacy of data in Nigeria.

In January 2023, the Federal Executive Council (FEC) approved the Nigeria Data Protection Bill presented by former Hon. Minister of Communication and Digital Economy, Prof. Isa Ali Ibrahim Pantami, for transmission to the National Assembly for consideration.      

The then Nigeria Data Protection Bureau, NDPB, now NDPC, led by the National Commissioner, Dr Vincent Olatunji, in collaboration with the Nigeria Digital Identification for Development Project (NDID4D), worked with critical stakeholders, Ministries Departments and Agencies, captains of industries and policymakers perfecting the bill. 

A Focus Group Discussion, national policy dialogue and validation workshop was held to present the draft bill to stakeholders, the 9^th National Assembly, and the Federal Ministry of Justice for their buy-in, comments, criticism, and suggestions to improve the bill.  Prior to that, Nigeria had no policy instrument that focused on supporting data privacy and data protection. 

Described as one of the most forward-thinking Acts across the African data ecospheres, the Nigeria Data Protection Act recognises innovations, blockchains, Artificial Intelligence and robotics. The Act also fosters an environment where companies prioritise robust cybersecurity measures and protect sensitive personal information from unauthorised access.

Furthermore, the law empowers users by ensuring that their data is handled responsibly and ethically since, as a fact, the law emphasises informed consent, which enables users to make conscious decisions regarding the use of their data. With this regulation, organisations are bound by law to promptly adapt their practices to comply with the new data protection standards. This brings a balance between leveraging data for business growth and respecting individuals’ privacy rights.

In terms of job creation, Dr. Vincent Olatunji, the National Commissioner of the Nigeria Data Protection Commission, NPDC launched the Nigeria Data Protection Strategic Roadmap and Action Plan, NDP-SRAP 2023-2027 on the 13^th of December 2023, in Abuja. The action plan is expected to create about 500,000 jobs and generate more than N125 billion in revenue.

Dr Vincent said in an interview that the NDP-SRAP 2023-2027 is in conformity with President Bola Ahmed Tinubu’s renewed hope agenda. He said, “Part of the ‘Renewed Hope Agenda’ of President Bola Ahmed Tinubu’s administration is to create about two million jobs in the digital economy sector. The data protection sector alone could create more than 500,000 jobs.”

According to the National Commissioner, “The NDP-SRAP comprises interlinked initiatives and activities like job, wealth creation, human capital development, revenue generation, foundational initiatives for the digital economy and enhancing Nigeria’s global reputation. These activities are expected to create about 500,000 jobs, generate revenue of more than N125 billion and expand the sector within the lifespan of this roadmap”.

In the same vein, the former Minister of Communication and Digital Economy, Prof. Isa Ali Ibrahim Pantami, was quoted in an interview to have said that “in two years of the implementation of the Nigeria Data Protection Regulation, NDPR, a novel sub-sector of the economy was created, 7,680 Nigerians were employed. Nigeria was appointed as the Vice Chair of the Data Protection Laws Harmonization Working Group at the African Union (AU) and was the only country in Africa to publish a data protection report in two years.

According to the DG/CEO of the National Identity Management Commission, “integrated identity is the backbone of e-governance initiatives as it provides an enabling environment for key government programmes of social safety net, financial inclusion, as well as for companies that want to provide innovative products and services to people.  She said, “An integrated identity system will strengthen the government’s fiscal management, promote good governance and transparency through inclusivity and social equality, as it ensures that marginalized and vulnerable populations are not excluded from government services.”

The Nigeria Data Protection Act is an enabler of inclusive identity issuance and management and a precursor for the growth, integration, and stability of Nigeria’s digital identity system. It is part of efforts to issue legal digital identities to 99.9% of people in Africa as part of a civil registration process by 2030. 

In this vein, the Act serves as the launch pad for the government’s efforts in building inclusive digital skills and human capacity across the digital sciences, judiciary, and education, both technical and vocational, to lead and power digital transformation, including coding, programming, analysis, security, blockchain, machine learning, artificial intelligence, robotics, engineering, innovation, entrepreneurship, and technology policy & regulation. This is evident in the recent launch of the 3 Million Technical Talent (3MTT) programme by the Hon. Minister for Communication, Innovation and Digital Economy, Mr Bosun Tijjani. The programme is aimed at building Nigeria’s technical talent backbone, powering her digital economy and positioning Nigeria as a net talent exporter the first phase of the programme, executed in collaboration with NITDA, is set to involve multiple stakeholders, including fellows, training providers, partners, and placement organisations.

Consequently, the nation hopes to witness robust digital economic growth, especially with the growth of digital platforms. These platforms are essential elements of digital infrastructure and can serve people, businesses, and government agencies in all aspects of life, including healthcare, education, commerce, transportation, and public benefits. Digital platforms serve or enable other products or services. For the people who use these platforms to receive their monthly pensions, securely login to a government e-services portal, pay their utility bills, submit a complaint, access public information, or find a person to rent their car, these platforms can provide a seamless service delivery experience that increases user convenience, savings, and agency. For governments, digital platforms can increase the efficiency and effectiveness of core functions and services, reduce unnecessary duplication of systems, and combat fraud.

Finally, as data subjects and responsible citizens, we must stay informed about data protection laws; demand transparency from organisations that collect our data and support NPDCs initiatives to sustain and promote international cooperation on data protection, its continuous improvement, and efforts to secure our digital economic future.

Muhammad Mikail writes from Abuja and can be reached via muhammadnmikail.mm@gmail.com.

By Abdurrahman Muhammad

The Central Bank of Nigeria’s financial policy and regulation director, Haruna Mustapha, announced in a circular on Friday.

The central bank has issued guidelines and regulations for banks on managing cryptocurrency in accordance with global standards to prevent misuse. They also urge banks to comply with these guidelines and regulations.

See the full statement below: 

FPR/DIR/PUB/CIR/002/003

CIRCULAR TO ALL BANKS AND OTHER FINANCIAL INSTITUTIONS

GUIDELINES ON OPERATIONS OF BANK ACCOUNTS FOR VIRTUAL ASSETS SERVICE PROVIDERS (VASPs)

The CBN in February 2021 issued a circular restricting banks and other financial institutions from operating accounts for cryptocurrency service providers in view of the money laundering and terrorism financing (ML/TF) risks and vulnerabilities inherent in their operations as well as the absence of regulations and consumer protection measures.

However, current trends globally have shown that there is need to regulate the activities of virtual assets service providers (VASPs) which include cryptocurrencies and crypto assets. Following this development, the Financial Action Task Force (FATF) in 2018 also updated its Recommendation 15 to require VASPS to be regulated to prevent misuse of virtual assets for ML/TF/PF.

Furthermore, Section 30 of the Money Laundering (Prevention and Prohibition) Act, 2022 recognizes VASPs as part of the definition of a financial institution. In addition, the Securities and Exchange Commission (SEC) in May 2022 issued Rules on Issuance, Offering and Custody of Digital Assets and VASPS to provide a regulatory framework for their operations in Nigeria.

In view of the foregoing, the CBN hereby issues these Guidelines to provide guidance to financial institutions under its regulatory purview in respect of their banking relationship with VASPs in Nigeria.

The Guidelines supersedes the CBN’s circulars referenced FPR/DIR/GEN/CIR/06/010 of January 12, 2017 and BSD/DIR/PUB/LAB/014/001 of February 5, 2021 on the subject. However, banks and other financial institutions are still prohibited from holding, trading and/or transacting in virtual currencies on their own account.

Accordingly, all banks and other financial institutions are hereby required to immediately comply with the provisions of the Guidelines.

HARUNA B. MUSTAFA

DIRECTOR, FINANCIAL POLICY AND REGULATION DEPARTMENT

By Zayyad I. Muhammad 

For 24 years, most Nigerians were only familiar with one style of operation by their National Security Advisers (NSA)—a regimental style—because of the complete military background of the previous NSAs. Having NSAs with military experience is an excellent idea, but some critical situations require looking at things from different angles, including outside-the-book approaches.

The coming of Nuhu Ribadu as Nigeria’s National Security Adviser is a paradigm shift and a systemic and systematic approach by President Bola Ahmed Tinubu. Tinubu brought not only a person that he understood but also a person who understood his steps. It’s a kind of quality assurance.

Because for two decades, Nigerians have been used to one style, they need to be educated from a layman’s perspective. NSA Nuhu’s style will and must always be soft and hard, silent and loud, publicly and secretly, unique and ordinary because of his background, training, and experience—an excellent police officer and an anti-corruption czar who has gone through the mills of his fields.

Before his appointment and signs that he would be President Tinubu’s NSA, some people thought de-marketing and painting him black would deny him the position. They forgot that security matters; it goes beyond politics when dealing with goal-getters like Tinubu. It’s a matter of the quality of Nuhu Ribadu and Tinubu’s philosophy on exceptional human resources.

The National Security Adviser manages Nigeria’s security on behalf of the President, and he is the chief advisor on all matters vital to Nigeria’s very survival.

The big questions are: has Nuhu Ribadu brought on board something new, being a new face with different backgrounds from the previous NSAs in 24 years? Has Nuhu Ribadu been able to separate politics from policy? He has actively participated in politics before now. Has Nigerian security improved under Nuhu Ribadu?

Analysing security issues and their managers is often difficult, or rather futile because the gains achieved in a decade can be wiped away within a few minutes by one senseless act by terrorists, bandits, or common criminals. Nuhu has brought something unique: Nigerians are being informed of happenings in the fight against criminality, the NSA is now visible when required, confidence has been built, and resources are appropriately distributed while separating needs from wants. Under NSA Nuhu Ribadu, kinetic and non-kinetic approaches are being applied to tackle the security challenges in Nigeria. Inter-agency synergies are now a key in the security architecture.

Furthermore, all security agencies are being reformed and reinvigorated to play their role in internal security effectively. At the same time, the military is being freed from the burden of performing both its constitutional role and that of the police, thus allowing it to concentrate on external security fully.

Politics and man are like love and humankind—they co-exist. Human beings must always love something; the same is true of politics: once one knits tight with politics, they live together. Even his adversaries must admit that Mallam Nuhu was able to separate his office from politics, knowing fully the enormous responsibilities on his head, and Nigeria and the world are keenly watching him. Furthermore, Mallam Nuhu has been able to drive the ONSA back to its original status as a National Security Vehicle, not the sad belief that it is a kind of  ‘big pot ‘for politicians to scoop from.

Silently and interestingly, NSA Nuhu is building a strong interface among all the security agencies. Roles are being defined to allow seamless work to achieve one goal: the peace of the country and its people. Mallam Nuhu is piloting and overseeing security through the eyes of a well-trained security czar who understands both the hard and soft approaches.

Inter-agency collaboration has improved; ordinary Nigerians now view the NSA as just for security only; NSA words now not only matter but work. An example is the recent off-cycle governorship election in Bayelsa, Imo, and Kogi states. Mallam Nuhu assured Nigerians that the governorship elections would be conducted without interference. And it was. This is how NSAs work—their worlds translate into actions and results.

Zayyad I. Muhammad writes from Abuja via zaymohd@yahoo.com.