FG Orders Google, Apple To Deactivate ‘illegal’ Online Banks, Loan Apps

 The Federal Competition and Consumer Protection Commission has ordered Google LLC (Play Store) and Apple Inc. (Apple Store) to deactivate unathorised online banks and loan applications.

The Federal Government agency asked Google and Apple to delete the applications where evidence has established inappropriate conduct or use of the application in violation of the rights of consumers.

The agency also banned the acceptance and presentation of new online banking and loan applications without regulatory assessment and approval.

This is coming two days after FCCPC, in collaboration with the Independent Corrupt Practices and other Related Offences Commission, National Information Technology Development Agency, and the Nigerian Police Force shut down some illegal financial institutions operating on Opebi Road, Ikeja, Lagos.

Davido’s Father, Adedeji Adeleke Gifts Him Land In Banana Island

Nigerian singer, David Adeleke, popularly known as Davido, has received another piece of land in Banana Island from his billionaire father, Adedeji Adeleke.

The singer took to his Twitter page to announce his newly acquired land which was given to him by his father.

Davido then appreciated his father, as he reaffirmed his love for the older man.

“Woke up to another /and from popsi in banana again! Such a dope father! Love u pops,” Davido wrote.

The father-of-three revealed that the land would be used to build “some crazy sh*t” for his kids."

This comes two months after he did a house warming ceremony for his second home in Banana Island, Lagos.

The singer had on January 6, 2022, launched his new home with a star-studded house party.

Davido, popularly called Omo Baba Olowo (child of a rich man), had celebrated his new home a month after the Aye crooner gifted himself a brand new Lamborghini.

POWER GENERATION AND ONGOING LOAD SHEDDING NATIONWIDE

The Transmission Company of Nigeria wishes to notify consumers of electricity that the current load shedding being experienced nationwide is as a result of very low power generation by the Generation Companies (GENCOs) for TCN to wheel through the transmission grid to distribution companies nationwide. 

DisCos justify payment for meters despite FG’s ‘free meters’

The 11 electricity distribution companies yesterday, in Abuja, insisted that payment for meters by end-users remains justified despite the mass-metering programme of the government, which is premised on free meters.

The Association of Nigerian Electricity Distributors (ANED), the umbrella body of the utility companies said that not all approved metering schemes, currently active in the country, come at no immediate expense to customers

The possible effects of using SWIFT against Russia on the global economy

There has been outcry on why the world powers had not used SWIFT as a tool of sanction against Russia. Now that they have used it. Let's look at the implications it might have and why they have delayed its deployment. We will also attempt to look at the implications it might have on the global economy.

LET'S START WITH SWIFT

According to google, SWIFT is a vast messaging network used by banks and other financial institutions to quickly, accurately, and securely send and receive information, such as money transfer instructions. It connects more than 11,000 financial institutions all over the world.

World Street Journal (WSJ) in its article says, “The Society for Worldwide Interbank Financial Telecommunication, or SWIFT, is the financial-messaging infrastructure that links the world’s banks. Swift doesn’t handle actual money transfers itself. It is a messaging system, a secure way banks transmit transfer requests to each other. Money moving from one account to another often passes by multiple banks before landing in the final destination, particularly if it involves a foreign currency. Swift routes messages with instructions from one bank to another, allowing them to know where the money should ultimately land. The Belgium-based system is run by its member banks and handles millions of daily payment instructions across more than 200 countries and territories and 11,000 financial institutions.”

2022/24/2

What you need to know to drive with LagRide

 

1. Interested drivers are required to pay a non-refundable fee of N17,000 to cover verification of LASDRI and LASRAA ID, Medical history and security check, NIN and driver’s licence verification.

2. There will be trainings, which comprises of structured training from LASDRI, soft skills and first aid training, as well as Lagos Ride driver app training.

3. Payment of N1,845,500 initial deposit which covers: 20% equity of cost of vehicle, registration and insurance, advance rent payment on Dashcam, first aid kit, e-taxi licence, and soft skill training.

4. All trip fares are expected to be remitted electronically via the LagosRide platform. Where a rider has indicated a cash trip, the driver will be required to credit the equivalent sum to his wallet for appropriate deduction.

LagRide, a Lagos state e-hailing scheme, set to kick off with 1000 fleet

In line with the on-going transportation sector reform, Lagos State Governor, Babajide Sanwo-Olu, has concluded plans to launch a modern ride e-hailing service, Lagos Ride in the state.

The new initiative, with code; “LagRide,” according to the state government is to further ensure seamless transportation system for teeming commuting populace in the state.

The service with the tagline, “ride in comfort” is expected to be launched soon by the state government.

AERA loses Chief Education Officer, Toyin Williams (Pictures and Video)

Mrs. Williams at on her birthday

 Abesan Estate Residents' Association (AERA) on Saturday announced the death of their Chief Education Officer, Mrs. Toyin Williams. Mrs. Williams who was a retired secondary school principal became the Chief Education Officer of the association in October, 2019.

According to a statement released by the association and signed by Olufemi Odeyemi, the public relations' officer, the death occurred on Friday, 11th, 2022 after a very brief illness.

Close family sources told our paper that she complained of pains and was rushed to a private hospital on Monday, 7th February and was discharged on Wednesday only to be rushed to a General hospital on Thursday where she later gave up the ghost on Friday evening.

President of AERA, Elder M.A.O Kehinde led members of AERA executive to pay a condolence visit to the family of the deceased on Saturday (today) morning.

Mrs. Williams was an active member of her community and a member of A.P.C

She is survived by a son and other family members.

IKEJA ELECTRIC: Abesan people don’t vend!

 Yesterday morning, I was speaking with an official of Ikeja Electric and from all we discussed, one thing I took home is that Abesan people don’t vend and so their revenue has dropped.

If you must have electricity supply through your prepaid meter, you must vend. Does it then mean people no longer use electricity? No, this is not true. What it actually means is that Ikeja Electric staff are still used to the old way of getting money from residents of Abesan. They still live in the past. It is now “pay as you go” you pay for what you consume and this has drastically reduced the revenue of Ikeja Electric in Abesan and maybe other places. 

Another thing is that many people now stay in darkness until they have money to vend. “A night, maybe two isn’t too much till I can gather a chunk to subscribe”, someone once told me.

Gunmen abduct custom officer's wife in Ogun, demand N200m

The Ogun State Police Command has said it is on the trail of the abductors of an interior designer and Customs officer's wife, Patricia Sandra Ola, at Imeko area of the State.

Patricia Sandra Ola, 42 who was on her way home after visiting her husband, Abiola Ola an officer with the Nigeria Customs Service (NCS) in Ogun state was kidnapped by a gang who claim to be smugglers at the nation's border.

The incident happened on 7th November, 2021 while she was driving in a blue 2011 Toyota Camry car with Abuja registration number, KWL405AX.