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Pantami says FG to introduce digital bill to support startup founders

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Dr. Isa Pantami e1631088697838

The Nigerian Government has disclosed that it is working on a bill to boost Nigeria’s digital ecosystem and support tech founders and entrepreneurs in Nigeria.

This was disclosed by the Minister of Communications and Digital Economy Mr Isa Pantami, during an interactive session with the leadership of the House of Representatives on Tuesday in Abuja, according to NAN.

He stated that if the FG supports tech founders, it will  go a long way in creating many job opportunities for the citizens.

What Pantami is saying

Urging Nigerian lawmakers to work with the executive to address the challenges facing young innovators and entrepreneurs in Nigeria, he said  the bill, when passed, would provide the enabling environment for young entrepreneurs, particularly within the digital ecosystem to be successful.

“These young entrepreneur’s are not seeking jobs from the government. In fact, they are employers, not employees.

” So by implication,  if we support them, that will  go a long way in creating many job opportunities for our citizens.

“Because all the start-ups are not in any way potential job employees but rather potential job providers,” Pantami said.

  • He added that the FG discovered many countries had variations of their own start-up apps, which was all about bringing stakeholders to discuss the challenges being confronted by the young innovators/entrepreneur.
  • Also speaking during the session, Rep. Alhassan Ado-Doguwa, the House Leader, stated that interaction was part of the consideration process that  would give the bill the opportunity to explain the intent and benefits of the legislative document

What you should know

  • Recall Naijaonpoint reported in December last year that the Federal Government through the Federal Executive Council approved Nigeria’s internet technology bill known as the Startup Bill, which would be transmitted to the National Assembly for passage into law
  • The bill will encourage young entrepreneurs in the country who have skills and want to do business in the telecommunications sector. The bill will also replace the National Digital Innovation Entrepreneurship and Startup Policy.

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Indian Regulator SEBI Proposes Banning Public Figures From Endorsing Crypto Products

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The Securities and Exchange Board of India (SEBI) has reportedly proposed banning public figures, including celebrities and sportsmen, from advertising and endorsing crypto products. The regulator also proposed that public figures be held liable for any law violations when promoting crypto products.

The Securities and Exchange Board of India (SEBI), the country’s securities and commodity market regulator, has proposed prohibiting public figures, including celebrities and sportsmen, from endorsing crypto products, Businessline reported last week. In addition, the regulator proposed requiring advertisers to disclose possible law violations.

SEBI recently shared its view on the subject with India’s Parliamentary Standing Committee on Finance when it was questioned about various crypto issues, sources told the publication. The regulator subsequently submitted a detailed written response to the committee.

The Indian Ministry of Finance also asked SEBI to give its view on the crypto advertising guidelines published in February by the Advertising Standards Council of India (ASCI).

SEBI reportedly wrote:

Furthermore, the securities regulator proposed that public figures be held liable for endorsing crypto products, which could violate certain laws, including the Consumer Protection Act.

In addition, SEBI suggested adding the following statement to the ASCI disclaimer: “Dealings in crypto products may lead to prosecution for possible violation of Indian laws such as FEMA, BUDS Act, PMLA, etc.”

ASCI’s crypto guidelines, which went into effect on April 1, state: “Since this is a risky category, celebrities or prominent personalities who appear in such advertisements must take special care to ensure that they have done their due diligence about the statements and claims made in the advertisement, so as not to mislead consumers.”

Meanwhile, the Indian government is working on the country’s crypto policy. Finance ministry officials have met with the International Monetary Fund (IMF) and the World Bank to discuss crypto regulation. India’s finance minister recently said that the decision on crypto regulation will not be rushed. Crypto income is currently taxed at 30% in India.

What do you think about SEBI’s view on prohibiting public figures from endorsing crypto products? Let us know in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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Sanwo-Olu Promises Justice for Sound Engineer David Imoh

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David Imoh Sound Engineer

By Modupe Gbadeyanka Governor Babajide Sanwo-Olu of Lagos State has promised to ensure that the late Sound Engineer killed by a mob in the Lekki area of the state last week gets justice. The Governor gave this assurance through the Commissioner for Information and Strategy, Mr Gbenga Omotoso, in a statement issued on Monday night. […]

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