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The Gambling Situation in Norway

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There are gambling fans in pretty much every corner of the world. Unfortunately, not all of them get to enjoy their favorite hobby. There are regions where gambling is outlawed, and there are places where you are free to play whatever you like. However, we are seeing trends that online gambling is slowly getting accepted in countries and states where it used to be illegal.  Lots of European countries have both online and land-based gambling, and here we will be focusing exclusively on Norway. Let’s see what sets it apart from the rest and what is the current gambling situation there.

Gambling Entertainment Available in Norway

The truth is that Norwegian gamblers have access to an array of online casino sites. However, they are heavily advised to only use state-owned online casino Norway platforms. Many gamblers who want to play at a new casino in Norway go to the Gamblizard platform to find reliable operators. These are all licensed sites owned by foreigners and those who want to experience more than online slots Norway casinos offer turn to these options.

Is it Legal to Play on Online Casinos Sites? 

Technically, the only legal online casino in Norway sites are the ones offered by Norsk Tipping AS. They are the only company that is legally allowed to host this entertainment. That being said, authorities do not pursue people who opt for foreign operators. This means you can access the new casino site from https://gamblizard.com/no/nettcasino/nye-casino/ and you won’t get in trouble. That being said, the regulators took some steps to make it difficult for users to access or play on these platforms. 

History of Casino Entertainment in Norway

Gambling has been legal here for decades but the state decided to monopolize it. Norsk Tipping is the major player in the market and it has been ever since 1948. Norge betting entertainment, lottery, and a variety of games that allow you to make money online in Norway are offered by them. The idea is to use all of those funds for the betterment of local culture, sports, and the economy in general. 

The Norwegian government went a step further and created regulations that basically deter foreign operators from operating in Norway. In 2017 they even made it more difficult for citizens to play on foreign gambling sites by refusing to process those payments. They even banned commercials that come from abroad and advertise gambling. 

Another interesting fact from recent history has to do with slots. Slot machines were made illegal in 2007 and brought back in 2009. They are called ITV or interactive video terminals. 

Finally, poker is legal in private homes, so long as these are low-stakes games. Also, in 2014 National Poker Championship was also legalized.

Cryptocurrencies Are a Game Change

Even with all of the methods to suppress foreign gambling sites, casino fans still managed to access them. Cryptocurrencies play an important role in this arrangement, as they don’t rely on bank payment routes. Nowadays, lots of foreign operators accept payments in crypto, and this is actually the fastest and cheapest way to transact online. That being said, the market is far from stable, and recent events only serve as a reminder. So, it seems you are taking a risk even trading nowadays, as the values of cryptos tend to fluctuate frequently.  

Lack of Land-Based Casinos

Those who prefer online casinos Norway has to offer aren’t really affected by this, but many gamblers love to socialize. The ITVs are available in pubs and restaurants, but they aren’t exactly a replacement for a casino. Even live dealer games aren’t available, which is another reason why users often gravitate toward foreign operators. 

Conclusion

On the one hand it is good that the state can use all the money for the betterment of the country. From that angle, a monopoly on gambling isn’t such a bad thing. In fact, many are encouraged by this fact to spend more, as they feel like they are donating. However, the quality of content can suffer in this case. With a lack of competition, there is no need to create engaging promotions and bonuses. Moreover, there is no need to create better content for the users.

The clash of ego between Wike and Ayu will cost PDP heavily in Nigeria Election 2023

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The fight between Governor Nyesom Wike of Rivers state with his faction (the G5 governors) and the PDP which was initially personal against the removal of Iyorcha Ayu is just a clash of ego; nobody wants to let go of his ego for the sake of peace and progress of the party and this clash of ego is about to cost them their presidential bid. 

In all these, it is Alhaji Atiku Abubakar, the presidential flag bearer of the party that will bear the brunt, and that begs the question; what is Atiku Abubakar and his team doing and have  been doing to resolve this fight between the G5 governors led by Wike against the PDP led by Iyorcha Ayu or does he by any stretch of the imagination dream that he can win the presidential election without the support of 5 major PDP governors?, whoever is giving the go-ahead is actually deceiving him, because having followed elections in Nigeria critically, I can make the bold assertion that without the supports of those governors, He Will Not Win. 

If it is the ego that is stopping him from approaching Nyesom Wike and listening to his demands then the ego wants to rob him of another chance of him becoming the president of Nigeria; if it is because he (Atiku) shares a personal relationship with Iyorcha Ayu, hence why he won’t support his  removal as the party national chairman, then his is not ready yet to be the next president of Nigeria and he just wants to waste his money again for campaigns and come back to repeat the process in the next four years 

In all fairness, despite the fact that Governor Nyesom Wike might have a personal vendetta against Iyorcha  Ayu, the national chairman of the PDP, what Wike and the rest four governors are demanding is the right thing and it is what the PDP constitution provided for; “Equitable and just representation of every region in the party structure”. 

The presidential flag bearer and the party national chairman must not come from the same region; since the presidential flag bearer in the person of Alhaji Atiku Abubakar is from the northern region, it is only equitable, just, and fair that the party chairman comes from the southern region and not also the Northern region, hence why Iyorcha Ayu should resign to give room for a southerner to take over the leadership of the party. This is the core demand of the G5 governors and other aggrieved members of the party in their camp.

Other party members were dismissive of this fight which was started by Wike, that Wike will come to terms and back down, but there is every indication that Wike is not backing out of the fight anytime soon until his demands are met and he has been able to successfully sell this fight to other four governors and has gathered a lot of followers out of the PDP who has joined him to chant and demand in one voice that “Iyorcha Ayu must resign”.

Let us even assume that Wike has personal grievances against Ayu, hence why he is calling for his resignation, can we also say that the rest four governors who have also joined the Wike camp also have a personal issue against Ayu?, especially a governor like Seyi Makinde of Oyo state, who unwaveringly stated that he does not mind sacrificing his re-election bid for the second term as the governor of Oyo state, he just want the right thing to be done, which is the equitable representation of all region in the party structure.

The PDP in all indications has shown that they are not ready for this election, they just want to put up a show and waste money again. When they are ready Nigerians will know, they need to first put their house in order if they really mean business.

Naira Redesign: CBN Introduces Policy to Protect the Unbanked, Underserved and Rural Dwellers

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The Central Bank of Nigeria (CBN) has unveiled a new plan to protect rural dwellers and others who may be affected by the redesign of naira notes.

Last month, the financial regulator announced the decision to redesign N200, N500 and N1,000 notes in a move aimed at curtailing the amount of money outside the banks. The CBN also said the naira notes’ redesign will help in curbing money laundering, counterfeiting, terrorism and vote-buying as the 2023 general elections draw near.

However, while the move has been widely applauded, concerns have also been raised about it. The CBN said the redesigned notes will be released from Dec 15, and consumers have until Jan 31, 2023 to return the old notes to the banks. For rural dwellers, the unbanked and the underserved, meeting the deadline poses a challenge.

Against this backdrop, the senate has also joined the call for the CBN to extend the deadline to accommodate those not adequately covered through financial inclusion.

In a statement titled: “Currency Redesign: CBN Commits to Protecting Nigerians in Unbanked, Underserved, and Rural Areas,” which was signed by CBN’s Director of Corporate Communications, Osita Nwanisobi, the apex bank said it has taken steps to ensure that the policy is duly implemented nationwide without causing any group of people financial harm.

The CBN said agent locations across the country have been fully enabled for BVN registration, opening banking accounts/wallets & e-Naira wallets, electronic card distribution, and cash deposit, among others. This is to enable rural dwellers to deposit their old naira notes before the deadline.

Read the press statement below:

Further to its Press Release of October 26, 2022, on the above subject, the Central Bank of Nigeria (CBN) is pleased to note the positive response of the banking public to the policy through increased currency deposits across banks and other financial institutions.

The CBN remains committed to the seamless implementation of the initiative to ensure the achievement of its objectives to preserve the integrity of the local legal tender by reducing the significant amount of cash outside the banking system and its use in criminal activities, curtail counterfeiting, and promote financial inclusion, amongst others.

Whilst noting the progressive increase in financial access points and alternative banking channels over the years (electronic/internet banking, mobile apps, ATM, Cards/PoS, eNaira, agent banking, etc.), the Bank acknowledges that these may not be evenly distributed across all geopolitical zones and in some rural areas. In operationalizing this initiative, the CBN has been collaborating with relevant agencies and other stakeholders in the financial system in its execution, particularly ensuring that vulnerable citizens are not disenfranchised.

Accordingly, the banking public in rural and/or underserved areas may access CBN branches in the 36 States of the Federation to enquire about options for depositing their current N200, N500, and N1,000 notes, wallet/account opening processes, financial access points, etc.

Furthermore, agent locations across the country have been fully enabled for BVN registration, opening banking accounts/wallets & e-Naira wallets, electronic card distribution, and cash deposit, among others. Due to the policy, the agents have also been accorded priority to enable them to deposit cash collections through bank branches across the federation.

The Bank shall continue to monitor developments and issue updates to the banking public on the implementation of the Naira redesign policy as may be necessary.

The Innovation and Growth of Firms [video]

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I am Ndubuisi Ekekwe. I am the Lead Faculty of Tekedia Institute USA. I invite you to register for the next edition of Tekedia Mini-MBA. I am an entrepreneur, an investor, a teacher, a businessman and a techie. On some days, I wake up working on microprocessors (my company is Africa’s only programmable microprocessor certified and authorized partner of Intel Corp) and by the end of the day, I have attended a couple of board meetings. 

In our school, we bring 360-degree understanding and perspectives to business because we understand every element of the business system. The next edition (Feb 6-May 6, 2023) comes with a revamped curriculum; I invite you to register here. .

You will enjoy spending 12 weeks with me and our Global Faculty members for N90,000 or $170. Do it and let us accelerate your leadership ascent and business growth. Come here and understand NUMBERS (click and listen).

 

The Important Components of the Regulatory Framework Governing The Maritime Sector in Nigeria

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Travel by sea and other related water bodies remains the prominent means of executing International trade and the movement of goods in bulk. However, this places a huge regulatory burden on countries which have to exercise the utmost diligence in screening which vehicles and cargo loads pass through their ports of entry. 

This forms the focus of this article which looks at the Nigerian Maritime Sector and the components of the regulatory framework governing it. 

The components of the Regulatory Framework governing the Nigerian Maritime Sector are :-

The Maritime Sector in Nigeria is governed by the following laws and agencies :-

The Constitution of the Federal Republic of Nigeria 1999 (as amended)

-The Cabotage Act of Nigeria.

– The Admiralty Jurisdiction Act.

– The Merchant Shipping Act.

– The Federal High Court of Nigeria.

– The Nigerian Ports Authority (NPA).

– The Nigerian Maritime Safety and Administrative & Safety Agency (NIMASA).

The Federal High Court of Nigeria :-  The Admiralty Jurisdiction Act provides for the jurisdiction of the Federal High Court as covering the following subject matters :-

  1. Questions of proprietary interest in marine vessels .
  1. Any maritime jurisdiction being exercised previously by any court in Nigeria before the commencement of the Admiralty Jurisdiction Act.
  1. Actions or applications relating to any cause or matter by any ship owner or any other person under the Merchant Shipping Act.
  1. Liability Claims arising from Oil pollution .
  1. Causes of action arising from inland waters shipping classified as a national waterway.
  1. Causes of action arising from Federal ports in the country.
  1. Causes of action arising from banking transactions in support of the exportation and importation of goods from and into Nigeria via marine vessels.

The Merchant Shipping Act :- This is an act of the National Assembly that serves as the foundational legislative instrument governing ship collisions and liabilities arising from collisions.

Under this Act, liability for damages or loss caused by marine collisions will be directly proportional to the level of causative responsibility attributable to the parties involved.

This act also applies to ships and vessels owned by the Nigerian Government.

The Nigerian Maritime Administrative and Safety Agency (NIMASA) :- NIMASA is a government agency created by the NIMASA Act 2007 and which is entrusted with jurisdiction over Maritime safety , security, and shipping registration as well as Maritime labour matters.

NIMASA’s main functions are :-

– Overseeing the registration and licensing of ships.

– Developing a framework for the regulation and management of Maritime training and Safety standards.

– Regulating seafarer certification.

– Providing & enforcing maritime vessel safety regulations compliance.

– Ensuring safety in the Nigerian shipping industry regarding ship construction and navigation standards

– Exercising regulatory functions regarding merchant shipping.

The Coastal & Inland Shipping (Cabotage) Act 2003 :- This is an act of the National Assembly which was created to serve the functions of –

  1. Exercising regulatory functions over marine transportation in Nigeria.
  1. Ensuring the creation of a Cabotage vessel financing fund.
  1. Creating a favourable support system to enable Nigerian citizens own or manage vessels while limiting over-dependence on foreign vessels in the carriage of goods across the country’s waterway system.

The National Industrial Court of Nigeria (NICN):- This is a component of the Superior Court hierarchy that exercises original jurisdiction over Maritime Labour causes in Nigeria.

The International Maritime Organisation (IMO) :- This is an  agency of the United Nations (UN) established in 1958 and which admitted Nigeria into it’s membership on the 15th of March, 1962.

This agency was created to implement the UN Convention on the law of the sea 1982 (which Nigeria is a signatory to) which is one of the most developed systems of international law governing peace time international maritime causes.