The National Information Technology Development Agency (NITDA) has issued a public advisory warning about a newly discovered malware called “CovertCatch.” The agency alerted the public that the malware, spread by cyber threat actors through LinkedIn, poses significant risks to individuals and organizations across various sectors, including defense, media, technology, and academia. In a statement released…
The chairman of Dangote Group, Aliko Dangote, has blamed the persistent shortages and long queues at filling stations across Nigeria on the failure of marketers to lift the products from his refinery. Speaking in an interview with correspondents at the Presidential Villa, Abuja on Tuesday, he emphasized the refinery’s capacity to meet the nation’s fuel…
Nigeria’s central bank is prepared to use any “tools at our disposal” to manage inflation, its head Olayemi Cardoso said on Tuesday. Annual inflation in Africa’s most populous country accelerated in September for the first time in three months, reaching 32.70% (NGCPIY=ECI), which opens a new tab, spurred by higher food and energy costs….
Nigerian fintech Moniepoint has secured $110 million in a funding round led by Development Partners International, according to TechCabal. This new capital infusion nearly triples the company’s valuation, propelling it to $1 billion and positioning Moniepoint as Africa’s latest unicorn. Founded in 2015, Moniepoint has now joined the ranks of African fintech giants alongside companies…
The Federal Government has granted licenses for nine modular refineries via the Nigerian Midstream and Downstream Petroleum Regulatory Authority. This was disclosed by the Chief Executive of NMDPRA, Farouk Ahmed, during the 2024 Oil Trading & Logistics Africa Downstream Energy Week held in Lagos on Monday, according to The Punch. He said that the licenses…
The Nigerian Safety Investigation Bureau (NSIB) on Sunday said the fourth body of the Port Harcourt crash victim has been recovered. NSIB spokesperson Bimbo Oladeji, in a statement on Sunday, said, “A floating body was retrieved from the water and was escorted by the Cameroonian Navy to NUIMS Antan, for safe transit through their territorial…
The Nigerian National Petroleum Company (NNPC) Limited has started settling its $6 billion debt to petrol suppliers, according to Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun. Speaking at an investors’ forum on the sidelines of the 2024 annual meetings of the International Monetary Fund (IMF) and the World Bank in…
Three persons have been confirmed dead in a helicopter crash that occurred in Port Harcourt, the Rivers State capital, on Thursday. The accident occurred at 11:22 a.m. along the waterways in Port Harcourt when the helicopter, a Sikorsky SK76 with registration 5NBQG and operated by East Wind Aviation, was en route from Port Harcourt Military…
Nigeria’s public debt profile under President Bola Ahmed Tinubu has increased to N134.3 trillion at the end of June 2024 amid an infrastructural deficit in the country. This is according to a document from the Ministry of Finance, Nairametrics reports. The figure is a 10.35 percent increase from the N121.7 trillion recorded in the first…
Global growth is projected to fall from an estimated 3.4 percent in 2022 to 2.9 percent in 2023, then rise to 3.1 percent in 2024. The forecast for 2023 is 0.2 percentage point higher than predicted in the October 2022 World Economic Outlook (WEO) but below the historical (2000–19) average of 3.8 percent. The rise…
