All Posts in "Day: February 16, 2023"

Reject Old N1000, N500 Notes, Face Prosecution, El Rufai Dares Kaduna Business Owners

Kaduna State Governor, Nasir El Rufai,says the old notes of N1,000 and N500 still remain legal tender in the state.

President Muhammadu Buhari had Thursdayordered the Central Bank of Nigeria (CBN) to circulate the old N200 notes alongside the new N200, N500, and N1,000 notes from February 10 to April 10, 2023.

But in a broadcast to the people of the state, El-Rufai described the President’s statement as contempt of court .

He said : “For the avoidance of doubt, all the old and new notes shall remain in use as legal tender in Kaduna state until the Supreme Court of Nigeria decides otherwise.I therefore appeal to all residents of Kaduna State to continue to use the old and new notes side by side without any fear.

The Kaduna State Government and its agencies shall seal any facility that refuses to accept the old notes as legal tender and prosecute the owners. If need be, we shall take further consequential actions according to the law”

“While urging you all not to fall for these antics of the enemies of Nigeria, please be patient and continue to exercise resilience in the face of open provocation and deliberate disinformation. We encourage you to be ready with your PVC to vote in the February 25 Presidential and National Assembly elections. We are doing all we can to ensure that it is peaceful, orderly and hitch-free.

“I appeal to you to understand the shenanigans of these unpatriotic elements in Abuja and ensure you vote massively for the intended victims of these last-minute policies of needless hardship and incitement of the citizens – our party, the APC and its candidates in all the elections.

” The Kaduna State Government is making this appeal, and taking all these measures to shield our people from the terrible consequences of the currency redesign policy. We seek to protect our people’s hard-earned money, their ability to engage in trade and exchange and buy what they need.

“We also seek to protect their civic rights, liberties and freedoms under a democratic dispensation. I call on the people of Kaduna State to remain peaceful and vigilant in the face of brazen attempts to engineer crisis in order to get a pretext for unconstitutional or undemocratic actions”.

“In conclusion, our Presidential candidate, Asiwaju Bola Ahmed Tinubu has asked me to convey his greetings, empathy and words of encouragement to the good people of Kaduna State. He urges us to remain patient, pray for our country and remain vigilant in our pursuit of Renewed Hope”

admin by — February 16, 2023 in News 0
Buhari Stops Circulation Of Old N500, N1,000 Notes

By Omobolanle Shosanya

President Muhammadu Buhari has said that the old N500 and N1,000 notes have ceased to be legal tender in the country.

In a national broadcast on Thursday,the President said the old notes can be swapped at the Central Bank of Nigeria (CBN) and designated points.

He maintained that the old N200 note will, however, remain legal tender until April 10 when they will cease to be valid.

He added:“To further ease the supply pressures, particularly to our citizens, I have given approval to the CBN that the old N200 bank notes be released back into circulation and that it should also be allowed to circulate as legal tender with the new N200, N500, and N1000 banknotes for 60 days from February 10, 2023 to April 10, 2023, when the old N200 note ceases to be legal tender,” he said.

“In line with section 20(3) of the CBN Act 2007, all existing old N1,000 and N500 notes remain redeemable at the CBN and designated points.”

admin by — February 16, 2023 in News 0
CBN Renews License Of Cellulant’s Payment Service Solution Provider

By Tunde Sholanke

The Central Bank of Nigeria (CBN) has renewed Cellulant’s Payment Service Solution Provider License in Nigeria.

The renewal enables Cellulant to continue providing online and offline payment solutions, including collections, check-out, biller aggregation, and payout services securely to thousands of businesses across Nigeriaa statement said.

Cellulant’s digital payments platform, Tingg- enables businesses to seamlessly accept and make payments offline and online.

According to the statement,a single integrated digital payments solution, Tingg addresses the complex needs of managing payments by simplifying the payment experience for the end-user and providing tools and processes for a merchant to manage their collections from a single dashboard.

“At Cellulant, we are committed to providing innovative and accessible digital payment solutions to businesses in Nigeria, which play a pivotal role in enabling financial inclusion and driving economic growth in the country. The renewal of our license is a vote of confidence from the Central Bank of Nigeria on the efforts of our team and partners, who have worked tirelessly to create safe and secure solutions that meet the evolving needs of businesses in Nigeria and the regulatory standards.

“Tingg is now used by thousands of businesses and outlets in the 36 states across Nigeria, enabling businesses to easily collect and make payments, monitor transactions, reconcile and settle cash seamlessly,” said Akshay Grover, Cellulant’s Group CEO.

Nigerian consumers have different payment options, including card, mobile money, bank transfer and cash- with volatile currency fluctuations and no single settlement framework.

As a result, the demand for digital payments continues to increase. Roughly 50% of retail customers request to pay for their purchases using digital payment options.

However, this demand presents several challenges for most merchants who might not always support the customer’s preferred payment method, resulting in merchants having to enable multiple solutions to support multiple wallets and varying processes for settlement and reversals for a merchant.

Tingg solves these challenges by delivering a single solution to accept all digital payment methods (Bank Transfers, USSD payments, Cards & Mobile Money) maintained with the highest compliance and security standards.

Speaking, Frances Diribe, Cellulant’s Group Chief Risk & Compliance Officer, said, “Cellulant is dedicated to meeting the highest standards of risk and compliance management as we understand the importance of maintaining the integrity of our payment platform. We have invested heavily in robust security measures and compliance processes to ensure our customers can confidently use our services. We welcome this news that showcases our compliance with the standards, directives, and regulations of the Central Bank of Nigeria.”

In addition to being licensed to operate as a Payments Service Provider in multiple African countries, including Kenya, Ghana, Uganda, Botswana, and Zambia, Cellulant has also achieved global security, privacy, business continuity and service management standards. The company’s certifications include ISO 27001 (ISMS), ISO 27701 (PIMS), ISO 22301 (BCMS), ISO 20000-1 (Service Management) and PCI-DSS.

admin by — February 16, 2023 in CBN 0
Valentine: Ikeja Electric Trains Children Battling Down Syndrome

By Tunde Sholanke

Ikeja Electric Plc,says it visited the Down Syndrome Foundation Nigeria in Alamutu area, Fagba, Lagos to celebrate the 2023 Valentine’s Day with the training centre for children and adult with down syndrome.

The Chief Executive Officer Ikeja Electric, Folake Soetan, who spoke during the visit to the Down syndrome Foundation,said the company is passionate and deliberate about impacting the environment where it operates through various interventions under the company’s Personal Corporate Social responsibility initiatives.

She added: “Beyond the symbolic February 14 Valentine’s Day, we have to be deliberate and genuinely show love, care and most importantly make the people around us happy.One of the best ways to show love is to visit such places, put smiles on the faces of these children and this will in turn bring joy and healing.

“At Ikeja Electric, the operational vehicle for our P-CSR initiatives is the Employee Volunteer Scheme which encourages our employees to partner with the company in making considerable impact through charitable activities and voluntary contribution of their time and resources towards the progress of communities in which we operate.

“These humane and charitable acts reinforces our avowed commitment to ‘Giving Back Always’ to the society at all levels.”

Soetan expressed her appreciation to the management of the foundation for allowing herself and IE team present during the visit to be part of a selfless service to humanity while presenting gift items, toiletries, foodstuffs and other consumables to the foundation.

The founder of Down Syndrome Foundation Nigeria, Rose Mordi, commended IE for expressing love, care and empathy towards those in need.

Mordi said her feeling was that most organisations do not thinking about the less privilege people, adding that she was surprised when she heard that Ikeja Electric was visiting the foundation.

She implored others to emulate the power company and also promised to continue to be an ambassador of Ikeja Electric.

She exhibited some of the handmade crafts by the students as part of the Foundation’s entrepreneurship, skills acquisition and empowerment impacts to the visiting IE team and thanked the company for the visit, while urging the management not to relent on the commitment to continuously show love to young and adult with down syndrome through her various CSR activities.

admin by — February 16, 2023 in Power 0
SNEPCo Clinches OGTAN National Award of Excellence

By Tunde Sholanke

Shell Nigeria Exploration and Production Company (SNEPCo) has won the 2023 Oil and Gas Trainers Association of Nigeria (OGTAN) National Award of Excellence for Human Capacity Development in the Oil and Gas Industry.

President of OGTAN, Mazi Onyechi,said SNEPCo has played a leading role in developing human capital in Nigeria through innovative programmes such as Shell Intensive Training Programme which has been a template for many human capital development programmes in the industry today currently.

He added:“SNEPCo also developed the first generation of Nigerian deep-water engineers through the Bonga Field development.”

The Managing Director of SNEPCo, Mrs Elohor Aiboni, said, “I commend the vision of the Oil and Gas Trainers’ Association of Nigeria to be the best learning services group in the industry and beyond because it aligns with SNEPCo’s aspirations in human development. And we will continue to work with the Nigerian Content Development and Monitoring Board and OGTAN to grow in-country human capacity for the oil and gas industry.”

Mrs. Aiboni, represented, at the event by SNEPCo’s Bonga Business Opportunity Manager, Mr Iyke Nnoaham, said Shell regards its staff as the most valuable asset and is working “to consistently develop the competences and capabilities of our people.”

SNEPCo pioneered the Nigeria’s deep-water frontier with the coming on stream of Bonga in 2005 and today, its operations are run by a workforce made up of more than 95% Nigerians.

SNEPCo’s Nigerian engineers cut their teeth on the Bonga project, developing knowledge and skills that have advanced the country’s oil and gas sector.

Along with its local manpower growth programmes, SNEPCo has also invested considerably in the development of local suppliers and materials to equip Nigerians with the requisite skills for key roles in the oil and gas industry.

admin by — February 16, 2023 in Next Level 0