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…
The Central Bank of Nigeria (CBN) has barred agents from using Point of Sale (PoS) terminals meant for merchants to carry out cash-in and cash-out transactions.
The apex bank disclosed this in a circular announcing the Exposure Draft of the Regulatory Framework for Agent…
Rising inflation and a shortage of currency reduce the demand for smartphones
March 16, 2023
Rising inflation and shortage of foreign currency led to a 32.1 per cent decline in Nigeria’s smartphone market in the fourth quarter of 2022, a new market analysis by International Data Corporation has disclosed.
According to the market intelligence firm, Africa’s…
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 next few months, targeting middle management, and that 5,000 other roles would remain unfilled. The cuts follow a cull of…
Barely three days after the Central Bank of Nigeria declared old N1,000, N500 and N200 notes as legal tender, Deposit Money Banks say they are beginning to run out of the old currencies.
The development led to severe hardship and pains for several bank customers seeking to…
The Ghana National Petroleum Authority has announced removal of fuel subsidy in the country.
The removal of the subsidy is part of the country’s implemented regulatory measures to ensure stability across its downstream sector.
The Chief Executive Officer of NPA…
Ecobank Nigeria Limited has stated that it has entered into a partnership with the International Institute of Tropical Agriculture to train and provide support services to 16,000 Nigerian youths on wealth creation through agriculture.
The bank said in a statement that the training was targeted at young Nigerians between the ages of 18 and 40 and would cover key areas of specialisation including…
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…
Some experts have expressed different opinions about the impact of the collapse of the American bank, Silicon Valley Bank, on the Nigerian economy.
Regulators closed SVB Financial Group and its subsidiary, Silicon Valley Bank, on Friday and seized its deposits in what is the…
KPMG Nigeria has appointed a former Nigerian Statistician-General, Dr Oyeyemi Kale, as its chief economist.
IKPMG Nigeria disclosed the appointment in a statement, stating that the partners and staff of the firm were pleased to welcome Kale, the former statistician-general of the federation between 2011 to 2021.
According to the statement, the new chief economist would lead the firm’s view on…