Directive

The Central Bank of Nigeria (CBN) has reaffirmed its directive to banks regarding the utilisation of foreign currency (FCY) revaluation gains. In a circular released by the bank on Thursday and signed by the Acting Director of the Banking Supervision Department, Adetona Adedeji, the CBN advised banks against undertaking such actions. In the circular, referencing a letter dated 11 September 2023, the CBN emphasised the need for banks to exercise utmost prudence in handling these gains. According to the directive,…

Last Updated: November 08, 2023, 17:04 ISTThe air quality in Delhi-NCR declined over the past week. (Image: PTI)Delhi Air Pollution: The order comes after the Supreme Court on Tuesday said that many cabs are plying on Delhi roads, with only one passengerAmid a spike in pollution levels, the Delhi government on Wednesday announced that it was banning all commercial app-based cabs registered in other states after the Supreme Court’s directive on air pollution.According to the Delhi government’s order, only taxis bearing the…

The Central Bank of Nigeria’s directive requiring financial institutions to obtain customers’ social media handles is against the law, the Nigeria Data Protection Commission has said. The CBN, in its recently released Customer Due Diligence Regulations, 2023, directed all money deposit banks to obtain comprehensive information about their customers, including their social media handles. The regulation, it claimed, contained measures that “are designed to improve the ability of financial institutions to identify…

TRAI cracks down on promotional calls and unwanted messages in new directive, check detailsAnnoying promotional calls and messages have become a constant annoyance for mobile users across the country. Acknowledging this issue, the Telecom Regulatory Authority of India (TRAI) has taken a significant step by instructing telecom companies to develop an integrated Digital Consent Acquisition (DCA) platform. The aim is to eliminate unwanted calls and messages sent to customers without their permission through digital means.…

Top startups in India have called on the country's competition watchdog to launch an inquiry into Alphabet's Google for allegedly bypassing an antitrust directive by charging a high service fee for in-app payments, a filing shows.The Alliance of Digital India Foundation (ADIF) filing marks the latest tussle between Google and Indian startups, which have repeatedly criticized the U.S. company for imposing unfair business restrictions that hurt smaller players."Google's policy change of charging service fee even on…

Despite the Central Bank of Nigeria’s directive authorising commercial banks to dispense and receive the old N200, N500, and N1000 notes, many Nigerians this week rejected the bank notes. A PREMIUM TIMES’ survey across major cities found that some motorists and traders refused to accept the old notes amid the uncertainties surrounding the acceptance of the notes by commercial banks. The apex bank had on Monday announced that the old and newly redesigned banknotes remain legal tender until 31 December. The move…

Photo: U.S. Army Spc. Jaaron TolleyThe U.S. The Department of Defense has peeked into the future, and it sees a world rife with automated weapons of war. In its first update since 2012, DoD’s guidance overseeing the development, testing, and use of autonomous and semi-autonomous weapons warned of artificial intelligence’s “increasing role” in wars to come. More than a decade has passed since the Pentagon last updated its policy directive on these weapons, titled “Autonomy in Weapons Systems,” but that changed this week. …

The Bombay High Court has ordered ride-hailing company Rapido to stop services in Maharashtra until January 20 as the state government has yet to provide a licence for it to operate in the state.The High Court directed the company to suspend services by 1 pm on Friday, following which the Bengaluru-based company said it had suspended its operations.The court will hear the matter next on January 20.“In the interim, the Honourable Bombay High Court has accepted Rapido’s ‘without prejudice’ undertaking to discontinue…

No one can hear you scream Tomorrow sees Supermassive Games launch The Devil in Me, the final “season one” episode of its celebrated Dark Pictures Anthology — And, in keeping with series tradition, the new title features a spooky teaser trailer for the series’ next release, which has now been confirmed as sci-fi shocker Directive 8020. The preview features a mission report from a lonely vessel in the vast reaches of the stars. Seemingly on a mission to find a new home for humanity, the team has apparently run afoul of…

Pension administrators have ended incentives they offered to win over subscribers after the regulator issued a directive prohibiting the offer of gifts to retirement savings account holders. The National Pension Commission had in October directed operators in the industry to end “unhealthy competition” among PFAs. According to PenCom’s spokesperson, Abdulqadir Dahiru, PFAs sent gifts such as birthday cakes and end of year gifts to account holders to dissuade them from switching to another administrator. Speaking…