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#EndSARS: We were not hacked – CBN

The Central Bank of Nigeria has dismissed rumours that its website was hacked by hacker group, Anonymous.

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CRR Debits, #EndSARS: We were not hacked - CBN

The Central Bank of Nigeria (CBN) has debunked rumours that its website was hacked. This was disclosed via its official Twitter handle in the early hours of today.

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The apex bank assured the Nigerian public that there was no cause for alarm and it would do everything within its statutory power to protect its proprietary data from being breached.

READ: #EndSARS: National Human Rights Commission sets up independent investigative panel

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READ: $70 billion per annum will be needed to tackle pandemic induced poverty – World Bank

The press release concluded by advising the Nigerian public to ignore such false claims, designed at undermining the credibility of the CBN.

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Backstory

Nigerians were shocked yesterday when the website of the CBN was temporarily off the grid, leaving many to suspect that it may have been hacked. Recall that Anonymous, an international hackers group, had earlier claimed via its Twitter handle, that it breached some Nigerian government websites.

READ: CBN invests over N120 billion on 320,000 farmers across CTG within four years

The act is said to be in support of the ongoing #EndSARS protests that have taken over many cities in Nigeria, following calls for the disbandment of the notorious police unit – FSARS.

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Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment Trading. Featured Financial Market Analysis for a Fortune Global 500 Company. Member of the Chartered Financial Analyst Society. Follow Olumide on Twitter @tokunboadesina or email [email protected]

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Business

Twitter suspends Nigeria Communications Commission’s account

Twitter has suspended the account of the Nigeria Communications Commission.

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Broadband subscriptions peak at 82.7m – Prof. Danbatta, NCC initiates second phase of sim deactivation, disables 2.2 million lines, MTN, Airtel, others contribute N6 trillion to GDP each quarter every year, NCC wades into coronavirus linkage with 5G, says controversy is untrue

The Twitter account of the Nigerian Communications Commission (NCC) has been temporarily suspended on the digital platform.

Findings by Nairametrics revealed that the account was suspended today, although the cause or reason for the action by the microblogging platform remains unknown as at the time of reporting this.

What this means: A statement on the suspended account showed that no activity can take place on it. It is also pertinent to note that usually, Twitter suspends accounts based on violations of its rules, or to ensure safe environment for users. Also, accounts may be suspended to protect other users from cyber-crime, violence, terrorism/violent extremism, abuse/harassment, sexual exploitation among others.

What they are saying: A statement on the suspended account @NgComCommission read thus: ‘’Account suspended. Twitter suspends accounts which violate Twitter Rules.’’

On the other hand, confirming the recent development, NCC’s director of public affairs, Ike Adinde told TheCable that the commission is aware of the development, but he, however, denied any wrongdoing by the organization, noting that it is a glitch from Twitter’s two-factor authentication (2FA) system.

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“We have been aware of issues with our Twitter account, apparently emanating from technical glitches with the company’s (Twitter’s) authentication system,” he said.

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Minimum wage earners should be exempted from paying income tax – FG

The FG is proposing in the new Finance Act, an exemption of minimum wage earners from paying income tax.

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The Federal Government, in a bid to further cushion the current socio-economic conditions in the country, has proposed in the new Finance Act that those who earn minimum wage should be exempted from paying income tax.

This was announced by President Buhari via the official Twitter handle of the Presidency.

The President disclosed that this new provision would complement the tax breaks given to small businesses last year, to further stimulate the economy.

President Buhari, in the tweet thread, explained that the move was a fulfilment of the promises made to help reduce cost of transportation and the impact of inflation on ordinary Nigerians.

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What you should know

Nairametrics reported that the Federal Government on Wednesday, November 18, 2020, approved the 2020 Finance Bill to support the 2021 budget.

While explaining the contents of the bill, the Minister of Finance, Budget and National Planning, Mrs Zainab Shamsuna Ahmed, gave an assurance that the bill would not lead to an increase in tax, because the situation in the country did not warrant an increase in taxes.

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She said the intent was to ease the tax burden on Nigerians and some categories of businesses, especially the small and medium businesses.

The Minister disclosed that the bill, which was designed to bring incremental changes in the nation’s tax laws, was considered very critical to the implementation of the 2021 budget, and would soon be transmitted to the national assembly for consideration.

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Delta farmers target 28,000 MT of rice from this year’s dry season farming

Farmers in Delta state are targeting 28,000 MT of rice from this year’s dry season farming.

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NIRSAL, The National Information Technology Development Agency has kick-started a job and wealth creation programme where 130 farmers will each receiv, e seed funding of N100,000Border Closure: Nigerian rice farmers are struggling to feed a rice-hungry nation. CBN to give Niger Delta rice farmers single-digit loan 

Mr. Sylvanus Ejezie, the Chairman of Rice Farmers Association of Nigeria (RIFAN), Delta State Chapter, has disclosed that farmers in the state are targeting 28,000 MT of rice from this year’s dry season farming.

The disclosure was made during an interview with the News Agency of Nigeria (NAN) on Monday in Asaba.

Mr. Ejezie explained that the target would be realized in March 2021, as no fewer than 7,000 farmers registered to take part in the dry season farming in the state.

According to him, the RIFAN-Central Bank of Nigeria (CBN) loan scheme had provided all the materials needed by the farmers, and in line with the target of this exercise, each farmer is expected to cultivate at least one hectare with a targeted yield of four tonnes of rice per hectare.

The dry season farming which has commenced with land preparation, would be flagged off when some farmers receive their water hose to be able to pump water from the source to irrigate the farm. “Now, we want to take advantage of the dry season and all the farmers who have access to water will be participating,” Ejezie added.

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Mr. Ejezie stressed that he would personally cultivate seven hectares to cover for the loss he suffered due to flood.

Why this matters

This effort is a reactive step by the farmers towards cushioning the shortfall in rice production in the country, as farmers incurred huge losses during the wet season farming due to the heavy flood which washed off a sizeable amount of their cultivation.

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Hence, the decision to ramp-up rice cultivation in the state during the dry season will ensure that there is enough after the festivities and the yuletide season is over.

This will help to balance the demand and supply dynamics in the markets across all boards and food classes, given the importance of rice in the country.

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