The Central Bank of Nigeria has released a list containing 44 licensed deposit money banks in the country. This disclosure was made through a list published on the CBN’s official website on Tuesday.

As of April 26, 2024, seven banks, namely Zenith Bank, Access Bank, First Bank, First City Monument Bank, United Bank of Africa, Fidelity, and Guaranty Trust Bank, hold Commercial Banking licenses with international authorization.

Additionally, fifteen banks possess commercial banking licenses with National Authorization, while four banks have commercial banking licenses with regional authorization. Furthermore, there are four non-interest banks with national authorization.

The CBN also revealed that the country has six merchant banks operating with national authorization. Moreover, the number of financial holding companies has increased to seven.

In addition to these, there is a representative office of a Mauritius commercial bank in the country.

This list follows the CBN’s decision to raise the minimum capital requirement for all banks in Nigeria, aimed at bolstering the resilience of the country’s financial sector.

Senator Peter Onyekachi Nwebonyi, Deputy Chief Whip of the 10th Nigerian Senate and representative of Ebonyi North Senatorial District, has voiced his support for the proposed implementation of State Police. Nwebonyi, also a member of the Senate Constitution Review Committee, shared his views during an interview with AIT’s program “Inside Parliament” shortly after the plenary session on Tuesday, May 7, 2024, held at the National Assembly Complex in Abuja.

The seasoned lawmaker and senior lawyer emphasized the necessity of establishing state police forces to address the pervasive security challenges across the nation, which have overwhelmed the federal police.

In addition to endorsing the proposed State Police, Senator Nwebonyi reiterated his opposition to the anticipated increase in electricity tariffs. He maintained that considering the current dire economic situation faced by Nigerians, any discussion of tariff hikes reflects a lack of sensitivity.

As the Nigerian representative at the ECOWAS parliament, Senator Nwebonyi urged Nigerians to maintain confidence in the administration of President Bola Tinubu, asserting that the bold economic policies implemented by the administration will soon yield positive results for all citizens.

Furthermore, Senator Nwebonyi expressed optimism about the ongoing constitutional amendment, affirming that it will address governance loopholes. He highlighted the significance of the amendment, particularly in light of the fact that the current constitution was crafted during military rule.

Regarding the 2024 budget, Senator Nwebonyi assured Nigerians that its abundant provisions will soon translate into tangible benefits for the populace. He affirmed that the forthcoming benefits align with the overarching goals of President Tinubu’s Renewed Hope agenda.

Peter Obi, former presidential candidate of the Labour Party (LP), has criticized President Bola Tinubu’s administration for imposing a cybersecurity levy on Nigerians, alleging that the government is focused on extracting resources from a struggling economy rather than nurturing its recovery and development.

Obi accused the government of implementing policies that not only exacerbate citizens’ impoverishment but also undermine the country’s economic competitiveness. He argued that the imposition of a Cybersecurity Levy on Nigerians would further diminish their capital, especially considering the impact of Naira devaluation and high inflation rates.

Taking to his social media platform on Wednesday, Obi questioned the transformation of the Office of the National Security Adviser (NSA) into a revenue-generating entity. He expressed disbelief at the expectation that Nigerian citizens, already grappling with economic hardship, would single-handedly finance all government activities.

In his statement, Obi remarked, “Introducing another tax, such as the Cybersecurity Levy, on Nigerians who are already experiencing severe economic hardships, demonstrates the government’s preference for extracting resources from a faltering economy rather than nurturing its recovery and growth.”

He further criticized the levy, noting its imposition on business trading capital, which would further deplete their resources. Obi highlighted the incongruity of introducing new taxes at a time when the government should be reducing taxes to mitigate inflation.

Lastly, he questioned the role of the NSA’s office in revenue collection and raised concerns about the lack of clarity regarding the allocation of returns from the cybersecurity levy.