• Trade Union Congress (TUC) threatens to shut down the economy against Cybersecurity Levy
• FG responds to Binance accusations, says blackmails won’t save it
• Microsoft shuts down office in Nigeria, sacks over 200 workers
• CAC opens office for mandatory registrations of all POS operators
• Naira loses value in parallel market, trades at ₦1,450/$

Across Nigeria’s 36 states and the Federal Capital Territory, these are the five top Nigerian news stories you shouldn’t miss.

Trade Union Congress (TUC) threatens to shut down the economy against Cybersecurity Levy

The Trade Union Congress (TUC) of Nigeria has announced that it would shut down the economy if the Nigerian government did not take back its implementation of the 0.5% Cybersecurity Levy imposed on Nigerians.

The TUC requested that the federal government take back the Cybersecurity Levy law set to take effect in two weeks if it did not want to face the consequences.

The TUC President, Mr Festus Osifo, claimed the act was illogical, especially when Nigerians struggled with the high cost of living and inflation.

FG responds to Binance accusations, says blackmails won’t save it

The Nigerian federal government has replied to Binance’s accusations, saying that blackmail would not save the crypto firm from its crimes against the country’s laws.

Earlier this week, Binance’s CEO, Richard Teng, claimed that some officials of the FG approached the crypto company to pay $150 million in crypto to “make all these issues go away”, but it declined the offer.

However, Idris Mohammed, the Minister of Information and National Orientation, called out Richard Teng’s diversionary tactics, saying no amount of blackmail could exonerate the company from its crimes.

Microsoft shuts down office in Nigeria, sacks over 200 workers

Over 200 workers have been left unemployed as Microsoft at the Africa Development Centre in Nigeria has reportedly shut down its centre.

According to reports, Microsoft has decided to shut down its centre in Nigeria nearly four years after it began its operations in the country. The company’s initiative aimed to establish innovative technology for Africans and the world.

CAC opens office for mandatory registrations of all POS operators

The federal government announced that all POS operators were mandated to register their business with the Corporate Affairs Commission (CAC) to track criminal acts performed throughout the country quickly.

With thousands of POS operators in the country, the CAC inaugurated centres to help deal with the bulk registrations.

The registrar-general and CEO of CAC, Hussaini Magaji, inaugurated the centre at the commission’s FCT Zone 5 office.

Naira loses value in parallel market, trades at ₦1,450/$

The naira has continued its downward trend as it depreciates in the black market section of the foreign exchange, selling at ₦1,450/$ from its previous rate of ₦1,430/$.

The Bureau de Change (BDC) operators revealed that they purchase dollars at the rate of ₦1,410 and sell at ₦1,450, making a ₦40 gain.

The naira also recorded a fall in value in the official window as it trades at ₦1,421/$ compared to its previous record of ₦1,416.