RMRDC’s 30% value addition bill awaits Presidential assent - ITREALMS

ITREALMS ... making leadership SENSE with digital news!

Nigeria is edging closer to a new era of industrial transformation as the Raw Materials Research and Development Council (RMRDC)’s 30% Value Addition Bill passes its third reading in the House of Representatives and now heads to the desk of President Bola Ahmed Tinubu for assent, reports ITREALMS.

The landmark legislation mandates that all raw materials sourced in Nigeria must undergo a minimum of 30 percent local value addition before export. This policy aims to strengthen domestic manufacturing, reduce capital flight, and enhance the nation’s economic resilience by ensuring that more of Nigeria’s wealth is retained within its borders.

Peace Corps bill awaiting PMB assent - ITREALMS

ITREALMS ... making leadership SENSE with digital news!


The long awaiting Peace Corps bill is now waiting for President Muhammadu Buhari's assent, reports ITREALMS.

This following the recent harmonisation of bill by the National Assembly.

ITREALMS gathered, it has been forwarded to Buhari who is expected to assent to it before leaving office on May 29, 2023.

Buhari assent to Digital Rights and Freedom Bill, urges MRA - ITREALMS

ITREALMS:

The Media Rights Agenda (MRA) has called on President Muhammadu Buhari to sign the Digital Rights and Freedom Bill into Law, saying it will be a major legacy of his Presidency which will benefit millions of Nigerians for years to come, reports ITREALMS.

In a statement in Lagos, MRA said by speedily assenting to the Bill, which was transmitted to him for signature by the National Assembly on February 5, 2019, President Buhari would be confirming his administration’s support for Internet freedom for Nigerians.

Praising the National Assembly for the swift consideration and passage of the Bill by both the House of Representatives and the Senate, MRA’s Executive Director, Mr. Edetaen Ojo, described the proposed Law as “a strong piece of legislation that conforms strongly to global norms and standards and will effectively protect the rights of Nigerians on the Internet and in the digital environment.”

The Bill was passed by the House of Representatives on December 19, 2017 and similarly passed by the Senate on March 13, 2018 but was transmitted to the President on February 5, 2019 owing the a clerical error in the version passed, which the National Assembly had to correct.

Calling on President Buhari to assent to the Bill without delay and thereby demonstrate his willingness to protect the rights of all Nigerians online as they are protected offline, Mr. Ojo said: “The Bill provides a comprehensive framework for the advancement, protection and enjoyment of human rights on the Internet and in the digital environment, consistent with Nigeria’s regional and international obligations under various international human rights instruments, some of which Nigeria has led in bringing into being by co-sponsoring”.

Mr Ojo reminded the President that: “Nigeria played a leading role on the global stage in 2012 when it led in co-sponsoring the landmark Resolution on the Promotion, Protection and Enjoyment of Human Rights on the Internet at the UN Human Rights Council in Geneva, alongside Sweden, the United States, Brazil, Turkey and Tunisia, wherein it was affirmed that “the same rights that people have offline must also be protected online, in particular freedom of expression, which is applicable regardless of frontiers and through any media of one’s choice.”

He pointed out that the resolution brought Nigeria tremendous respect and acclaim from around the world and therefore urged the President to sign the Digital Rights and Freedom Bill “in keeping with the groundbreaking direction and guidance which this Resolution provided to the global community on human rights online.”

In addition, Mr. Ojo said, the Digital Rights and Freedom Act will help boost an innovative environment for Nigerians, as well as accelerate the country’s development in the digital age by allowing all Nigerians take maximum advantage of emerging opportunities, adding that this will be beneficial to the government and its efforts to ensure the economic growth of Nigeria including though its recent Enabling Business Environment initiative.

Mr. Ojo also said that the Bill, when assented to will bring Nigeria’s domestic law, policy and practices with regards to the protection of human rights on the Internet into conformity with the international norm that were central to a nation in developing and bequeathing to the global community.

MRA also called on all other stakeholders, especially the media and civil society actors, the business community, the telecommunication sector etc. to lend their voices to the advocacy for speedy presidential assent and subsequently, ensure that they monitor its implementation and ensure that its provisions are applied in practice.

Mr. Ojo said if passed into law, this piece of legislation will impact positively the personal and professional lives of all Nigerians who are connected to the Internet as well as those who will be connected in the future. He added that it is essential for all stakeholders to contribute to this process in every way possible including through advocacy, by writing about it, facilitating discussions and debates, playing their roles in ensuring its implementation and encouraging other members of society to do so as well.”

He also applauded Paradigm Initiative which led and coordinated the multi-stakeholder efforts that led to the development and drafting of the Bill and resulted in its speedy passage by the National Assembly, saying it has once again demonstrated the power of civil society to positively affect the fortunes of Nigeria and Nigerians.

*JOIN our alert's group | Share stories with us | Advert placement: WhatsApp | SMS: +2348033592762 *Twitter: @ITREALMS *Email: itrealms.dsa@gmail.com*

MIIVOC urges Buhari to assent to NFIA Bill now

ITREALMS:

A civil society organization, Media Initiative against Injustice, Violence and Corruption -MIIVOC has called on Nigeria’s President, Muhammadu Buhari to take urgent steps to avert Nigeria’s imminent expulsion from the Egmont group of Financial Intelligence Units by assenting to the Nigerian Financial Intelligence Agency (NFIA) Bill immediately, reports ITRealms.

MIIVOC’s Executive Director, Dr. Walter Duru, who made the call at the weekdn, in Abuja commended the leadership of the National Assembly for promptly resolving the impasse that arose over where to domicile the proposed Agency, describing their action as patriotic.

He however retained his earlier fears over the imminent expulsion of Nigeria from the Egmont Group of Financial Intelligence Units, if a clean copy of the NFIA Bill is not immediately transmitted and the President assenting immediately, stressing that it portends grave danger for the nation, if allowed to happen. 

According to him, the National Assembly deserves commendations for doing what he described as the needful, reiterating the grave danger facing Nigeria if expelled by the Egmont Group of FIUs.

“If expelled, Nigeria will be listed as a high-risk jurisdiction country, with far reaching implications.”

Duru blamed Nigeria’s present suspension from the group on the absence of operational autonomy for the Nigeria Financial Intelligence Unit, as well as the absence of confidentiality in the handling of financial intelligence, commending the National Assembly for harmonizing its report, even as he called on her to quickly transmit same to the President for his immediate assent.

“Nigeria was suspended by the Egmont Group of FIUs in July, 2017, following the absence of operational autonomy for the NFIU, among other related concerns. The failure of Nigeria to pass a law making the NFIU independent is the main issue. Today, the main discrepancy, which was where the agency would be domiciled is resolved in favour of the Central bank of Nigeria. This is indeed, a step in the right direction. Now, even if the bill is not perfect, let it be finalized and transmitted immediately, while amendments come later. We must avert this imminent danger.”

“The Egmont group will be meeting from the 11^th to the 16^th of March, 2018 and If Nigeria fails to comply with the group’s demand for a legal framework granting autonomy to the NFIU in the next few days, the country may be expelled from the global body, which provides the backbone for monitoring international money laundering and terrorist financing activities.”

Continuing, he stressed, “when expelled, Nigeria will no longer benefit from financial intelligence shared by the other one hundred and fifty-six member-countries, including the United States of America and the United Kingdom, while the country’s ability to recover stolen funds abroad will be hampered.”

“Another major consequence will be the blacklisting of Nigeria in international finance, and this could affect the use of credit cards, as the credit lines offered by corresponding banks would be cut off. In fact, financial instruments from Nigeria may not be honoured abroad.”

“It could also affect the international rating of Nigerian financial institutions, restricting their access to some major international transactions. Do not forget that Nigeria’s membership of the Egmont Group ensured the removal of Nigerian banks from the blacklist of international finance. The blacklisting of Nigeria in 2001, for instance, prevented the banks from engaging in correspondent banking with foreign institutions and also denied Nigerians access and ability to use foreign credit cards.”

“The last Egmont group statement about Nigeria is very clear on what the issues are. The issue of autonomy for Nigeria FIU is the crux of the matter. The statement reads in part: “the heads of FIU made a decision, by consensus to suspend the membership status of the NFIU, Nigeria following repeated failures on the part of the FIU to address concerns regarding the protection of confidential information, specifically related to the status of suspicious transaction report (STR) details and information derived from international exchanges, as well as concerns on the legal basis and clarity of the NFIU’s independence from the Economic and Financial Crimes Commission. The measure will remain in force until immediate corrective actions are implemented. The NFIU Nigeria is now excluded from all Egmont group events and activities. The Egmont Group expressed its hope that the Nigerian authorities will address these concerns to enable the Egmont Group to lift the suspension as soon as possible.”

He further disclosed that the suspension of Nigeria by the global body has stalled the process of Nigeria’s application to join the Financial Action Task Force.

He called on the National Assembly and President Muhammadu Buhari to act quickly, even as he made a case for a fit and proper person to be appointed to head the proposed agency, in the interest of the nation.

Destiny Ugoji/GEE

ITREALMS ... everything news digitally!