Nigerian Fintechs to start deducting N50 EMTL as from Sept. 9, 2024

Today’s Menu ☕️

💵 Nigerian Fintechs to start deducting N50 EMTL as from September 9, 2024
🛜 Lagos State engages IHS Towers and WIOCC for fiber duct network expansion
📚 NITDA and NYSC kick off Digital Literacy for All Initiative
🛜 Starlink now available in Zimbabwe
📱WhatsApp will send messages to other apps soon — here’s how it will look

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💵 FINTECHS

Nigerian Fintechs to start deducting N50 EMTL as from September 9, 2024

Effective 9 September 2024, Nigerian fintechs will start deducting a N50 Electronic Money Transfer Levy (EMTL) from every inflow of N10,000 or more. Fintechs like Moniepoint, OPay have started informing their customers of this development. This deduction is in line with the Federal Inland Revenue Service (FIRS) directive.

Hitherto, the levy was applicable only to commercial banks. Henceforth, fintech platforms will be mandatorily included in the collection of the levy which is collected on behalf of the federal government. This marks the end of free banking services that some fintechs previously offered.

The Electronic Money Transfer Levy (EMTL) is a one-time charge of N50 applied to electronic transfers or receipts in Nigeria.

Introduced under the Finance Act 2020, the EMTL aims to promote electronic fund transfers within the country. The revenue generated from this levy is distributed across the three levels of government, with the Federal Government receiving 15%, state governments 50%, and local governments 35%..…....continue reading

🪢 INFRASTRUCTURE

Lagos State engages IHS Towers and WIOCC for fiber duct network expansion

IHS Towers, a leading tower company in Africa, and WIOCC, a prominent global telecom infrastructure provider, are currently in negotiations with the Lagos State Government to finalize a significant fiber duct initiative, aiming to complete a 6,000km fiber duct network. Furthermore, there are ambitious plans to expand this network to an extensive 36,000km, as disclosed by Olatunbosun Alake, the Lagos State Commissioner for Science and Technology.

The project, which began in 2020, encountered delays due to contractual disagreements between the Lagos State Government and the initial contractor, Western Telecoms and Engineering Services Limited. Alake refrained from delving into the details of the dispute.

He mentioned that the project’s management might soon transition to the Ministry of Science and Technology, although it currently falls outside his department’s jurisdiction...…....continue reading

 DIGITAL LITERACY

NITDA and NYSC kick off Digital Literacy for All Initiative

In a significant step towards achieving President Tinubu’s vision of accelerating diversification through industrialization, digitization, creative arts, manufacturing, and innovation, the National Information Technology Development Agency (NITDA) has collaborated with the National Youth Service Corps (NYSC) to launch the Digital Literacy for All (DL4ALL) initiative.

The program seeks to equip every Nigerian citizen with basic digital skills necessary to thrive in today’s technology-driven world, with a target of achieving 70% digital literacy for all Nigerians by 2027.

DL4ALL aims to empower citizens to access opportunities, contribute to national development, and secure a brighter future. The strategic partnership with NYSC will leverage the energy and reach of corps members nationwide, who will serve as Champions during their service year, providing training and sensitization on digital skills within the communities they serve.

The program will utilize the existing NYSC structure to kickstart nationwide sensitization and skill-building, ensuring that even in the most remote areas, the message and benefits of digital literacy will be received. The pilot phase has already begun in 12 states, including the Federal Capital Territory, with camp sensitization lectures underway..…....continue reading

🛜 INTERNET

Starlink now available in Zimbabwe

Starlink has officially listed Zimbabwe as one of the countries that you can now enjoy its internet services. In May, we reported that Zimbabwe’s telecom regulator, the Postal & Telecommunications Regulatory Authority of Zimbabwe (POTRAZ), granted a license to Elon Musk’s Starlink, allowing SpaceX’s satellite internet service to operate within the country.

According to the Starlink website, the standard hardware is $350 while the mini is $200. The monthly service is $50 for the standard service and $30 for the mini service. The service is being offered through its exclusive local partner, IMC Communications.

Zimbabwe joins 12 other African countries like Nigeria, Ghana, Kenya that have hooked up to the service....…....continue reading

📱SOCIAL MEDIA

WhatsApp will send messages to other apps soon — here’s how it will look

Meta has finally pulled the curtain back on what its plans for third-party chats in WhatsApp and Messenger will look like. The change, which is coming for users in the European Union, introduces new options to put Messenger and WhatsApp messages in the same inbox as third-party chats or keep them separate.

It’s building new notifications into Messenger and WhatsApp as well, which will let users know when they can link chats from newly supported apps. Meta says it has “gone above and beyond the ‘basic’ features required for interoperable messaging” and will offer rich messaging features, like reactions, direct replies, typing indicators, and read receipts.

It will also start including the option to create groups with other people in third-party chats next year. But Meta’s plan for interoperability goes beyond messaging — the company says it will roll out support for third-party video and voice calls in 2027..……continue reading

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