HAJIA SEFINATU ODODO SET TO SHOWCASE THE INDEGINOUS ATTIRE TO THE WORLD

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August 25, 2024

Hajia Sefinat Ododo, the elegant wife of Kogi State Governor, has once again showcased her cultural pride and sophistication by donning the majestic ‘Itinochi’ attire, a timeless traditional Ebira outfit.

With grace and poise, she embodies the essence of Ebira heritage, her beauty radiating like a beacon of cultural excellence. The intricate details of the ‘Itinochi’ adorn her with a regal aura, symbolising the rich history and traditions of the Ebira people.

Her appearance is a testament to her deep connection with her roots and her commitment to promoting cultural awareness. She is a shining example of a true cultural ambassador, inspiring others to embrace and celebrate their heritage.

Hajia Sefinat Ododo’s stunning appearance in ‘Itinochi’ is a masterpiece of cultural expression, a true reflection of her beauty, elegance, and dedication to preserving the traditions of the Ebira people. She is a treasure to behold, and her cultural pride is a gift to us all.

Kogi State Commissioners Congratulate Governor Usman Ahmed Ododo on Supreme Court Victory

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August 24, 2024

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Date: August 24, 2024

The Kogi State Honourable Commissioner for Housing and Urban Development, Hon. Taiye Abanika, and the Kogi State Commissioner for Works, Engr. Muhammed Ahovi Yusuf, have expressed their heartfelt congratulations to His Excellency, Alhaji Usman Ahmed Ododo, on his recent victory at the Supreme Court.

The Supreme Court of Nigeria, in a landmark judgment, upheld the election of Alhaji Usman Ahmed Ododo as the Governor of Kogi State, dismissing all appeals challenging his victory in the gubernatorial election. The ruling has solidified his position as the duly elected governor, putting an end to any lingering uncertainties regarding the leadership of the state.

Both Hon. Abanika and Engr. Yusuf were present at the Supreme Court in Abuja to witness the proceedings firsthand. Following the court’s decision, they lauded the judgment as a victory for democracy and the people of Kogi State.

Speaking after the verdict, Hon. Abanika praised Governor Ododo’s leadership and dedication to the state’s development. He emphasized that the Supreme Court’s ruling is a testament to the governor’s legitimate mandate from the people, and expressed confidence in his continued efforts to transform Kogi State.

Engr. Yusuf, on his part, commended the judiciary for its impartiality and commitment to justice. He reiterated his support for Governor Ododo, stating that the ruling would allow the administration to focus on its developmental agenda without further distractions.

The commissioners, in their joint statement, called on all stakeholders and citizens of Kogi State to unite in support of the governor’s vision for progress and prosperity. They also assured the public of their continued efforts in their respective ministries to contribute to the overall development of the state.

The Supreme Court’s decision marks a significant moment in the political landscape of Kogi State, as Governor Usman Ahmed Ododo is now set to continue his tenure with renewed vigor, focusing on the welfare and advancement of the state’s residents.

NDPC Fines Fidelity Bank 555,800,000

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August 21, 2024

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Following investigations into violations of Nigeria Data Protection Act, 2023 and the Nigeria Data Protection Regulation, 2019, Nigeria Data Protection Commission (the Commission) ordered Fidelity Bank PLC to pay a sum of sum of N555,800,000 (Five Hundred and Fifty-Five-Million-Eight Hundred-Thousand naira) only being 0.1% of the Bank’s annual gross revenue in 2023. This is to be paid within 14 days upon the receipt of the Notice.
The investigation into the data processing activities of Fidelity Bank PLC was triggered by a complaint from a data subject whose personal data was collected without lawful basis for the purposes of opening an account for the data subject. This complaint was lodged with the Commission in April 2023.
The Commission reviewed the data processing platforms of Fidelity Bank and found that in certain critical cases, the Bank processes personal data without informed consent of data subjects. Data processing tools such as cookies and banking apps were deployed in violation of the NDP Act. Its banking App at the material time had been downloaded over one million times.
Apart from internal non-compliance, the Bank relies on some non-compliant third-party data processors. The law not only enjoins an organization to be compliant, it also mandates its relevant vendors, agents or contractors, among others to be accountable when handling personal data of individuals.
It is to be noted that the initial decision of the Commission was issued since July 2023 and a directive to pay a remedial fee was issued in December 2023 Over ten correspondences were exchanged. The Commission issued repeated warnings to no avail. The Commission gave several opportunities for full accountability for over one year – taking into account the need to encourage compliance as a culture. However, Fidelity Bank did not provide requisite, satisfactory remedial plan.

The National Commissioner and CEO of the Nigeria Data Protection Commission, Dr. Vincent Olatunji, enjoins Data Controllers and Data Processors to eschew acts that may undermine trust and confidence in Nigeria’s capacity to protect data driven decisions and transactions. Dr. Olatunji notes that without demonstrable assurance of accountability in the exchange of goods and services, economic growth would be gravely hampered. However, through compliance with laws that protect freedoms of individuals, their lives and livelihoods, Nigeria will witness more and more momentum for sustainable development.

Signed
Babatunde Bamigboye, Esq. CDPRP
Head of Legal, Enforcement and Regulations

FEDERAL MINISTRY OF FINANCE ABUJA

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August 18, 2024

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NIGERIA MAKES HISTORY WITH $500 MILLION BOND LAUNCH: A BOLD STEP TOWARDS ECONOMIC TRANSFORMATION- EDUN SAYS

PRESS RELEASE

In a groundbreaking move, the Federal Government of Nigeria has launched a $500 million domestic bond, marking a significant milestone in the country’s economic reform and development journey.

The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, while unveiling the Series I USD500 Million Domestic FGN US Dollar Bond today in Lagos, stated that the launch was a bold step towards economic transformation
poised to attract both local and international investors.

*This historic initiative is aimed at raising a minimum of $500 million from both local and international investors, marking a significant step in Nigeria’s ongoing economic reform and development efforts*, he said

Edun stated further that the bond issuance, which is set to leverage the Nigerian financial system, including the Securities and Exchange Commission, the banking system, and investment bankers, represents a critical effort to attract foreign currency held by Nigerians abroad, as well as other international investors who believe in the macroeconomic reform initiatives spearheaded by President Bola Ahmed Tinubu.

In his presentation at the event, the Honourable Minister emphasized that the financial market thrives on creativity and innovation and that it is essential to encourage investors to participate in this strategic opportunity.

While highlighting the positive outcomes already being seen from the current economic policies, HM Edun
noted that government revenue and expenditure have been significantly revamped, and the trade balance is improving.

He informed of the government’s efforts in revitalizing the agricultural sector, which is taking on a new and promising direction.

The Minister informed further of the present
administration’s successful interventions to reduce inflation and poverty, such as the removal of levies on food imports and the direct transfer of funds to the most vulnerable citizens. He stressed that this new bond initiative is another crucial step in bolstering Nigeria’s economy.

HM Edun underscored the importance of dollar funding, particularly in stabilizing the exchange rate, which he said is vital for the country’s economic stability.

Addressing the challenges faced by African nations in the international capital markets, the Minister explained that the rating systems often do not favour the continent. In response, he assured that Nigeria aims to take the lead.

With this historic bond launch, the Minister expressed optimism that Nigeria is poised to become a continental financial hub, where other African nations can raise capital and drive economic growth.

Thus, the Honourable Minister’s visionary leadership and commitment to innovation have set the stage for a brighter economic future, especially now that Nigeria has taken the lead in harnessing diaspora savings and driving macroeconomic reforms, the country is well on its way to becoming a continental financial hub, driving growth and prosperity for generations to come

Signed
Mohammed Manga, *FCAI*
Director, Information and Public Relations
August 15, 2024

FEDERAL MINISTRY OF FINANCE ABUJA

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August 17, 2024

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FG INAUGURATES TECHNICAL SUB-COMMITTEE ON NAIRA-BASED CRUDE SALES TO LOCAL REFINERIES

PRESS RELEASE

In a significant step towards enhancing Nigeria’s refining capacity so as to promote economic growth and development of the country, the Federal Government has inaugurated the Technical Sub-Committee tasked with developing the framework for the sale of crude oil to local refineries in Naira.

The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, while inaugurating the Committee today in his office in Abuja, stated that the initiative, aligns with the presidential directive, aimed at revolutionizing the energy sector by reducing reliance on crude oil exports and fostering local expertise.

The inauguration took place following a stakeholders meeting where government officials and representatives of local refineries, including the Dangote Refinery, gathered to discuss the implementation of this strategic directive.

The committee, which includes the Permanent Secretary of the Federal
Ministry of Finance, Mrs. Lydia Shehu Jafiya, the Executive Chairman of the Federal Inland Revenue Service (FIRS), Dr Zacch Adedeji as well as representatives from the Nigerian National Petroleum Corporation Limited (NNPCL), Central Bank of Nigeria (CBN), Afrexim Bank, Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has the critical role of crafting a robust template that will ensure the successful implementation of the initiative.

In his remarks during the inauguration, HM Edun emphasised that this initiative is part of a broader strategy to position Nigeria as a refining hub, which will significantly boost the economy through the reduction of reliance on crude oil exports and fostering local expertise in the energy sector.

While commending the members of the committee for their dedication and anticipated contributions, the Minister urged them to work diligently in order to meet the expectations set by the presidential directive.

He reiterated that the ultimate goal is to transform Nigeria’s energy sector into one that is self-reliant and globally competitive.

With the inauguration of the Technical Sub-Committee, under the leadership of HM Edun, Nigeria is poised to witness a transformative shift in its energy landscape, especially with the task on the Committee to craft a robust framework for Naira-based crude sales, paving the way for a self-reliant and globally competitive energy sector.

As the nation embarks on this strategic journey, the ultimate goal of boosting economic growth, reducing poverty, and enhancing refining capacity is within reach.

Thus, the Committee’s diligent work will be instrumental in unlocking Nigeria’s full potential, and their contributions will be pivotal in shaping a brighter future for generations to come.

Signed
Mohammed Manga, *FCAI*
Director, Information and Public Relations,
August 15, 2024

FEDERAL MINISTRY OF FINANCE ABUJA

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August 14, 2024

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FINANCE MINISTER LEADS STRATEGIC MEETING ON NNPCL CRUDE SALES IN NAIRA

PRESS RELEASE

In a bold move to ensure the full implementation of the President Bola Ahmed Tinubu’s directive for the Nigerian National Petroleum Corporation Limited (NNPCL) to sell crude oil to local refineries in Naira, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun has today in his office in Abuja met with relevant stakeholders with a view to ensuring the realization of this policy objective of the Federal Government

This initiative aims at strengthening
the domestic economy as well as supporting the sustainable operations of local refineries, including the Dangote Refinery.

The meeting which brought together important stakeholders, including Mr. Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil); Mr. Mele Kyari, Group Chief Executive Officer of NNPCL; Dr. Zacch Adedeji, Executive Chairman of the Federal Inland Revenue Service (FIRS); Mrs. Lydia Shehu Jafiya, Permanent Secretary of the Federal Ministry of Finance; and other notable participants provided an opportunity for in-depth discussions, which underscored longstanding challenges within the petroleum sector.

As the meeting drew to a close, a sense of strong confidence and collective purpose filled the air with HM Edun expressing optimism that with the collaborative efforts of all stakeholders, this groundbreaking initiative will empower local refineries, stimulate economic growth, and redefine the nation’s petroleum landscape.

By harnessing the collaborative spirit of key stakeholders,
Nigeria is poised to witness a transformative shift in its economic trajectory. Thus, the country is set to unlock new opportunities, overcome longstanding challenges, and emerge stronger.

The Naira Crude Sales initiative marks a significant milestone in Nigeria’s journey towards economic prosperity, and all eyes are on the promising future that lies ahead.

Signed
Mohammed Manga, *FCAI*
Director, Information and Public Relations
August 13, 2024

FEDERAL MINISTRY OF FINANCE ABUJA

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August 9, 2024

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WALE EDUN MEETS CHINESE DELEGATION, DISCUSSES ENHANCED COOPERATION TO BOOST INVESTMENT OPPORTUNITIES IN NIGERIA

PRESS RELEASE

In a landmark move to bolster economic ties and unlock new investment opportunities in the country, the Honourable Minister of Finance and Coordinating Minister of the Economy Mr Wale Edun today in his office in, Abuja, played host to a high-level Chinese delegation led by Minister Counsellor Wang Yingzi, setting the stage for a strengthened Nigeria-China alliance.

The meeting focused on next month’s Forum on China-Africa Cooperation (FOCAC) and explored strengthening Nigeria-China relations.

Minister Counsellor Wang expressed China’s commitment to increasing investments in Nigeria and he pledged continued support from Chinese financial institutions.

HM Edun welcomed this partnership, highlighting the importance of Chinese investments in promoting economic growth, job creation, and poverty alleviation across the nation.

This strategic engagement sets the stage for a stronger Nigeria-China alliance, fostering mutual economic benefits and cooperation.

With a renewed commitment to cooperation, both nations are poised to harness the vast potential of their bilateral relations, driving prosperity and development for the benefit of their citizens.

The Ministry looks forward to a fruitful outcome from the forthcoming Forum on China-Africa Cooperation (FOCAC) and a strengthened Nigeria-China alliance.

FEDERAL MINISTRY OF FINANCE ABUJA

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August 9, 2024

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EDUN HOSTS AMBASSADOR RICHARD MILLS, EXPLORES ECONOMIC COLLABORATION, SOCIO-ECONOMIC SOLUTIONS*

PRESS RELEASE

In a bid to fortify bilateral relations and unlock new avenues for economic growth and socio-economic development in the country, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun today received the U.S. Ambassador Richard Mills in his office in Abuja.

The meeting aimed at strengthening bilateral relations between the two countries and exploring avenues for economic collaboration. It
also addressed socio-economic challenges in the light of recent protests.

During the meeting, HM Edun emphasized that Nigeria, through the Federal Ministry of Finance, remains dedicated to cultivating international collaborations that will enhance the economic well-being of the citizenry, stressing that the visit marks a significant step forward in achieving that goal.

With a shared commitment to driving economic prosperity and proffering socio-economic solutions, Nigeria and the United States are poised to strengthen their partnership, fostering a brighter future for their citizens.

This strategic engagement, therefore, comes at a pivotal moment, as both nations seek to navigate the complexities of global economic dynamics and address pressing socio-economic challenges.

Signed
Mohammed Manga *FCIA*
Director, Information and Public Relations
August 9, 2024

Federal Government calls on Nigerians to Apply for ECOWAS Cybersecurity Hackathon

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July 24, 2024

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PRESS RELEASE

Abuja
19th July 2024

The Federal Government of Nigeria is calling on all Nigerian youths and IT enthusiasts to join the Capture the Flag (CTF) competition by registering to participate in the Economic Community of West Africa’s (ECOWAS) Cybersecurity Hackathon. The event aims to empower citizens across the region with vital cybersecurity skills.
The event is being organised by ECOWAS and hosted by Nigeria in partnership with the Federal Ministry of Communications, Innovation and Digital Economy, and NITDA.
The Cybersecurity Hackathon presents an excellent opportunity for both beginners and seasoned professionals to dive into the world of cybersecurity, acquire new skills, and network with fellow enthusiasts.
All talented individuals and teams are invited to join this exhilarating competition. Demonstrate your expertise, collaborate with peers, and push the boundaries of cybersecurity. Be part of the talent pool driving cyberspace security for your country and West Africa as a whole.
The hackathon fosters a platform for young technology enthusiasts, enhancing the cyber workforce in the region. Nigerian youths are particularly encouraged to participate and showcase their brightest minds in this competition. Whether a cybersecurity novice or a seasoned expert, this event offers a unique opportunity to learn new skills and connect with fellow cyber enthusiasts.
ECOWAS Hackathon is an annual ethical hacking competition that brings together top cybersecurity talents from across ECOWAS, providing a unique opportunity to showcase skills, encourage knowledge sharing, and promote excellence in the field of cybersecurity. The first edition took place in Porto Novo, Benin Republic in 2022 and Lome, Togo in 2023.
Eligibility and Registration Details:
Registration Period: Open from July 19, 2024, to August 5, 2024.
Eligibility Criteria:
● All participants must be citizens of ECOWAS member countries.
● Travel tickets will be provided for participants residing within the region.
● Teams must consist of 3-4 members, with at least one female participant.
● Participants must be between 17 and 35 years of age.
This initiative came at the time of a recent report by the International Information System Security Certification Consortium (ISC2), which highlighted a global gap of four million unfilled cybersecurity jobs. The Federal Government of Nigeria is addressing this talent shortage through its 3 Million Technical Talent (3MTT) programme, organised by the Federal Ministry of Communications, Innovation and Digital Economy. The programme aims to train three million Nigerians in technical skills, including cybersecurity.
Register Now:
Don’t miss this thrilling opportunity to be part of West Africa’s cybersecurity community. Registration for the ECOWAS Cybersecurity Hackathon is now open. Join this exciting Capture the Flag (CTF) competition by clicking the link below: https://ecowasctf.ng](https://ecowasctf.ng)

For more information, please contact Foluke Bassey, anipr on 09081152798 or Oluwole Alao, anipr 07010296756.

Signed:
Mrs Hadiza Umar, fnipr,
Director, Corporate Affairs and External Relations

NDPC Meets with INEC to Enhance Data Protection Measures in Election Process

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July 24, 2024

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The Independent National Electoral Commission (INEC) has sought clarifications and sensitization on data protection from the Nigeria Data Protection Commission (NDPC). This request was made during an interactive meeting between INEC and NDPC at the INEC headquarters. The meeting aimed to ensure the proper protection of personal data of Nigerian citizens in INEC’s database. The goal is to ensure adequate safeguards for citizens’ and voters’ personal data to ensure credible elections.

The National Commissioner/CEO of NDPC, Dr. Vincent Olatunji, commended the Chairman of INEC, Prof. Mahmood Yakubu, for his willingness to implement measures to protect the personal data of Nigerian citizens and to comply with the Nigeria Data Protection Act. “All of us are data subjects; INEC is a data controller. We must process data within the laws provided in the Nigeria Data Protection Act. Any data leakage here can lead to a lot of issues, with INEC being a data controller of major importance in Nigeria.”

The Chairman of INEC appreciated Dr Olatunji, emphasizing the importance of data protection. He noted that INEC stores the largest citizen database in Africa, with 93 million records from the last election. “We have the most sensitive records of citizens, from their fingerprints and facial biometrics, across the executive, legislative, and judicial branches, male and female, young and old. It is better to start sensitization now before it’s too late.” He stressed the necessity for INEC to gain clarity on data protection to ensure compliance and informed practices.

Dr. Olatunji emphasized the importance of data protection and the consequences of inadequate measures, especially for INEC as data controllers of major importance. He highlighted the potential consequences of non-compliance, including reputational damage, financial loss, and even death in extreme cases. He also spoke about the penalties for non-compliance: “It ranges between 10 million naira and 2 percent of your gross earnings. The CEO can even go to jail, which is why it is better for everybody to obey the law.”

He outlined what INEC is required to do in the area of compliance, including having a privacy policy, appointing a Data Protection Officer (DPO) at the headquarters and state levels, and engaging a Data Protection Compliance Organisation (DPCO), among other measures. He added that the NDPC will conduct free training for INEC staff members and appointed DPOs, as anyone can be the weakest link in data breaches.

Other areas discussed included awareness, the level of a prospective DPO, policies, and cyber-attacks, among others. An implementation committee consisting of staff from both NDPC and INEC was immediately set up to implement data protection and privacy measures to guarantee trust and confidence in INEC’s data processing activities.

Itunu Dosekun
Head, Media Unit, NDPC.