Fintech

Lagos Signs Memorandum of Understanding on IGR FinTech Development

The Lagos State Government through the Ministry of Physical Planning and Urban Development has signed a Memorandum of Understanding with eTransact to curb unregulated development, manage setbacks and open spaces, and improve the beautification of the state’s environment. According to the collaborating partners, the Ministry of Physical Planning and Urban Development and eTransact will deploy an…
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Fintech

MTN merges two financial subsidiaries

Telecommunications company, MTN Nigeria, has proposed a merger of its two finance subsidiaries; Momo Payment Service Bank Limited and Yello Digital Financial Services Limited. This was revealed in its proposed resolutions for its 2023 Annual General Meeting scheduled to hold in April. The company said that the proposed merger would “hold the Payment Service Bank licence granted by the Central…
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Fintech

New Zealand bans TikTok on lawmakers devices

New Zealand will ban Chinese-owned social media app TikTok from lawmakers’ devices, officials told AFP Friday, becoming the latest Western nation to act on security fears about the platform. TikTok will be banned on all devices with access to the parliamentary network…
Fintech

Fraudsters break into the company's servers and steal N435.3 million.

The Lagos State Police Command has arraigned a fraud syndicate comprising eight men before the Federal High Court in Lagos for allegedly hacking into the server of an electronic platform, ITEX Integrated Services Limited, and stealing N435.3m. The defendants including Aderuku Adedayo, Adigun Benjamin, Awopetu Tosin, Ajibade Ayomide, Ojo Olwaseun, Miller Oluwafemi, Olaleye Samuel and Ajibade…
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Fintech

Meta, new layoffs cut 10,000 jobs.

Facebook owner Meta announced a fresh wave of job cuts on Tuesday, part of what CEO Mark Zuckerberg called the company’s “year of efficiency” as the US tech sector continues to downsize. In an email to employees, Zuckerberg said Meta would shed 10,000 jobs over the…
Fintech

Almost 13 million cyber attacks recorded during polls –FG

The 2023 presidential and National Assembly elections attracted 12.99 million cyber attacks, the Minister of Communications and Digital Economy, Isa Pantami, has disclosed. He noted that the attacks were recorded between 24th February and 28th February, with the presidential election day (25th February) attracting 6.99 million attacks alone. He stated this while explaining the activities of the…
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