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Business email hack rises by 1,760% in 2023 – Report
Tech

Business email hack rises by 1,760% in 2023 – Report

The cybersecurity platform, Perception Point, has disclosed a staggering 1,760% surge in Business Email Compromise attacks in 2023, propelled by the advancements in generative AI. “This past year has been defined by unprecedented advancements in technology, particularly the widespread usability of generative AI (GenAI),” the report added. Cybercriminals, leveraging generative AI, are now adept at […]

92 million Nigerians without access to electricity - FG
featured News

92 million Nigerians without access to electricity – FG

Melvin Onwubuke The Federal Government stated on Friday that, there are about 92 million Nigerians, who do not have access to electricity from the national grid. This was disclosed by the Minister of Power, Adebayo Adelabu, at the closing ceremony of the 7th Nigeria International Energy Summit in Abuja, according to The Punch. In the […]

Telecommunications

MTN MoMo PSB hits 5.3m active wallets in 2023

MTN Nigeria has disclosed that its MoMo Payment Service Bank (PSB) attained 5.3 million active wallet users, as of December 2023. MTN noted that the PSB earned more traction by increasing its agent network in the year by 103,000 to 327,000. From it’s financial records, the company’s active merchant ecosystem, which commenced in March 2023, […]

NGX Group reports N5.2bn after tax
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NGX Group reports N5.2bn after tax

NGX Group Plc has released its full-year 2023 financial results, revealing a profit after tax of N5.250 billion despite economic challenges. The profit after tax witnessed a significant surge, marking an impressive 788% increase from N591.509 million recorded in the previous year of 2022. Additionally, NGX reported a pre-tax profit of N5.271 billion, indicating a […]

FG to begin Port Harcourt-Aba rail service March
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FG to begin Port Harcourt-Aba rail service March

The Federal Government announced plans to commence train services on the Port Harcourt to Aba route by the end of March, according to Mr. Fidet Okhiria, the Managing Director of the Nigeria Railway Corporation. During a visit to Port Harcourt for a test run on the recently reconstructed Eastern Narrow Gauge Rail line, Okhiria stated […]

NGX reports N5.2bn profit despite economic hardship
Business

NGX reports N5.2bn profit despite economic hardship

NGX Group Plc has disclosed its financial results for the entire year 2023, indicating a N5.250 billion profit after taxes despite economic challenges. The information was disclosed in the group’s financial report to the investing public as well as formally released to the Nigerian Exchange Limited. The profit after tax for the group saw a significant […]

Jigawa state to set up disaster management trust fund
Business

Jigawa state to set up disaster management trust fund

In an effort to address the state’s recurring flood catastrophes, the Jigawa State Government is about to create the Permanent Flood Disaster Emergency Trust Fund. This declaration was delivered by Governor Mallam Umar Namadi on Friday at the Government House at the formation of a flood disaster management committee. One of the committee’s most important […]

World Bank approves $1.08bn to improve health, education
News

Nigeria seeks World Bank COVID-19 loan extension

The Nigerian government has officially requested an extension from the World Bank for the deadline of a significant $500 million loan initially designated for COVID-19 response efforts. “The Federal Government of Nigeria has formally requested for the extension of the closing date of the Nigeria COVID-19 Preparedness and Response Project (NCPRP) from the current closing […]

OpenAI raises $6.6bn, valuation soars to $157bn
Tech

Musk lawsuit stems from regrets, says OpenAI

Melvin Onwubuke OpenAI executives disagreed with the claims Elon Musk laid out in a lawsuit on Thursday and said the Tesla CEO is upset that he’s no longer part of the artificial intelligence startup. In an internal memo on Friday, OpenAI Chief Strategy Officer Jason Kwon said “We believe the claims this suit may stem […]

featured Oil and Gas

Shell to tackle Nigeria’s unstable power with off-grid renewable energy

Shell Nigeria Plc has stated that it would work with the Nigerian government to use renewable energy sources to supply millions of people with electricity. According to The Punch, energy sources encompass natural replenishment sources such as water, wind, and solar energy. Unlike non-renewable energy sources, which are limited and pollute the environment, such as coal, oil, […]

Dell hits record six-year high as share rise 30%
Tech

Dell hits record six-year high as share rise 30%

Melvin Onwubuke Dell is enjoying its best run in the stock market since the founder Michael Dell brought the company back to the stock market in 2018. Shares of the PC and server manufacturer soared 30% on Friday to $121.88, after the company posted fiscal fourth-quarter results that surpassed estimates, according to CNBC. For the […]

Osun resubmits state's nomination for bank role, challenges CBN’s rejection
Economy

CBN sells 1yr OMO bills at record 21.5%

Melvin Onwubuke The Central Bank of Nigeria sold a historical N1.056 trillion in OMO bills on Friday with the yield on the one-year bill surging to 27.3 percent as the CBN offers more, in its attempt to lure foreign portfolio inflows. CBN governor, Olayemi Cardoso had on Thursday, promised the rate would trend higher, at […]

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