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Every bank has been instructed by the CBN to charge 0.5% of all transactions for cybersecurity.

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All Nigerian banks are required by law to charge 0.5% of all transactions for cybersecurity, according to the Central Bank of Nigeria (CBN).

The CBN stated that the mandate must now be followed by all banks, other financial institutions, and payment service providers. It states that the levy must be applied at the point of origination of the electronic transfer and then deducted and remitted by the financial institution. The money that has been subtracted will appear together with the narration in the customer’s account. “Levy on Cybersecurity”

“All financial institutions will begin to deduct within two weeks of the date of this circular, and by the fifth business day of the following month, the monthly remittance of the levies collected in bulk to the NCF account domiciled at the CBN will be completed.”

The following are exempt from the levy: salary payments, loan disbursements and repayments, intra-account transfers for the same customer between banks, interbank transfers between banks, instructions from other financial institutions to their correspondent banks, interbank placements, and bank transfers to CBN and vice versa.

The CBN has been working to clean up the financial industry lately. It recently released an order prohibiting fintechs from enrolling new clients. In response, the fintech companies have cautioned their clientele not to conduct cryptocurrency transactions on their networks.

This occurred just one week after the Federal Government ordered Deposit Money Banks to start deducting the 0.375 percent stamp duty levy from all bonds and loans backed by mortgages right away.

Breaking news of the CBN charging 0.5% of every transactions for cybersecurity went viral online and sparked debate about the new regulations.

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Who Is Magnus Carlsen?

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Born on November 30, 1990, Sven Magnus Øen Carlsen is a grandmaster in chess from Norway.

In addition to being the current World Chess Champion, he has won the World Rapid Chess Championship five times, the World Blitz Chess Championship seven times, and the Chess World Cup Champion five times. Since July 1, 2011, he has remained at the top of the FIDE world chess rankings, only surpassed in the amount of time by Garry Kasparov as the highest-rated player in the world. He also holds the record for the longest reign in this ranking. His 2882 peak rating is the highest in recorded history. With 125 games played, he also has the record for the longest winning run in top classical chess.

A chess prodigy, Carlsen became a grandmaster a few months after turning 13 and won first place in the Corus chess tournament in the C category. In addition to becoming the youngest player to ever qualify for the Candidates Tournament in 2005, he won the Norwegian Chess Championship at the age of 15. He tied for first place in Corus’ top group at the age of 17. At the age of 18, he became the youngest person to ever surpass a rating of 2800. He became the youngest person to ever rank #1 in the FIDE world rankings in 2010 at the age of 19.

In 2013, Carlsen overcame Viswanathan Anand to win the title of World Chess Champion. He won the 2014 World Rapid Championship and World Blitz Championship, holding the title against Anand the following year. This made him the first player to hold all three titles concurrently, a feat he repeated in 2019 and 2022. He faced off against Ian Nepomniachtchi in 2021, Fabiano Caruana in 2018, and Sergey Karjakin in 2016 to defend his classical world title. In 2023, Nepomniachtchi made it back to the championship match, but Carlsen turned down the opportunity to defend his crown this time around, claiming a lack of desire.

When he was a teenager, Carlsen was well-known for his attacking play, but he has now matured into a versatile player. He employs a range of openings to hinder opponents’ preparation and lessen the usefulness of computer analysis before to the game.

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Renowned actress Liz Benson makes a comeback to Nollywood

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After a break of several years from performing, veteran actress Liz Benson has returned to Nollywood.

The seasoned actress, who is starring in the upcoming film “A Mother’s Son,” directed by Vincent De Anointed and produced by renowned actress Mercy Johnson, is returning to her first love.

In a behind-the-scenes video that Mercy Johnson shared on her Instagram page, the cast welcomed the seasoned actress with joy.

She claims that the renowned cast of the star-studded film includes, among others, Mike Godson, Mercy Johnson, Evia Simon, Ozioma Maurice, and George Inaibeh. Liz Benson exclaimed, “All the big people in Nollywood are here,” after being taken aback by her coworkers’ cordial greeting. “God bless you; you guys are doing amazing things.” It’s good to meet each of you in person. It is my first time to meet each of you. However, I’m here to see my daughter, Mercy Johnson. According to the News Agency of Nigeria (NAN), Etinan, Akwa Ibom, in southern Nigeria is the birthplace of Liz Benson, 58.

She began her acting career at the age of five in 1971, but it wasn’t until 1993 that she became well-known for her role as Mrs. Agnes Johnson in the NTA television serial opera “Fortunes.” Benson became well-known in the 1990s after starring in a number of iconic films and became well-known in the early Nollywood era.

Her roles in critically acclaimed films include those in “Glamour Girls,” “True Confession,” “Diamond Rings,” “Scores to Settle,” “Evil Men 1 and 2,” “Conspiracy,” and “Dead End,” among others.

Benson revealed that she is a born-again Christian and that she currently serves as a full-time ordained pastor before making her way back to Nollywood.

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Titi Cole intends to retire following a thirty-two-year career in finance

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Titi Cole who served as the Head of Global Operations and Fraud Prevention and the Chief Client Officer for Citi’s Personal Banking and Wealth Management (PBWM) has declared her intention to retire from the financial services industry on May 14, 2024.

She posts on LinkedIn about her retirement aspirations and plans, stating, “

From a youth service posting in Lagos, Nigeria to the C – suite of one of the most important financial institutions in the world, I am thankful for the journey and that I get to decide that it is time to say goodbye and pursue other passions. My career has not been a linear path, but it has exceeded my biggest dreams.
I’ve had amazing experiences, grown as a leader and forged so many close friendships over the years, and I owe a big thank you to the many sponsors, and mentors who supported and advocated for me along the way. They told me what I now tell so many others – step out of your comfort zone.

Purpose has fueled my career and it has been a privilege to help advance economic mobility in communities around the world and also make our industry more representative of the clients we serve.

I am very fortunate to close out my banking career at Citi working for Jane Fraser, a truly inspirational leader, and will always be a proud Citi alum! In the last few years, I’ve had the incredible opportunity to work with colleagues around the world who delivered with excellence for the firm and our clients as we sought to divest our international consumer businesses and simplify the firm in a very significant and meaningful way.

As to what’s next? Some downtime first. I plan to travel with my husband and biggest supporter, Wale Cole to spend quality time with friends and family before beginning my next adventure in the nonprofit sector focusing on women and healthcare and giving back to the communities that have given so much to me.

I look forward to sharing more about my next chapter in 2025…”.

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