The World Telecommunication Standardization Assembly (WTSA-24) opened today in New Delhi, India, where policy-makers, industry leaders and tech experts will meet to consider global actions to reinforce the standardization work of ITU, the UN Agency for Digital Technologies. The opening ceremony highlighted the push for universal connectivity, the need for ethical artificial intelligence (AI), the…
A day after Guaranty Trust Bank (GTBank) transitioned to a new banking application system, customers have expressed concerns over ongoing service disruptions. Speaking with the News Agency of Nigeria (NAN) on Tuesday, customers at various GTBank branches in Lagos, expressed frustration over difficulties in accessing their accounts and completing transactions. NAN correspondent who visited several…
The National Bureau of Statistics (NBS) says Nigeria’s headline inflation rate increased to 32.70 per cent in September 2024. The Statistician-General of the Federation, Adeyemi Adeniran, revealed this in a statement issued on the Consumer Price Index (CPI) and Inflation Report for September 2024 in Abuja on Tuesday. According to the report, the figure is…
The Nigeria Employers’ Consultative Association (NECA) says its forthcoming Employers’ Excellence Awards will recognise and celebrate resilience, ruggedness and contributions of Nigerian businesses to the nation’s economy. NECA’S Director-General, Mr Adewale-Smatt Oyerinde, disclosed this in an interview with the News Agency of Nigeria (NAN) on Tuesday in Lagos. “Quite a lot is being done by…
Ericsson reported a modest improvement in its results for the third quarter, with the decline in sales slowing to just 4 percent thanks to a pickup in North America. Cost savings and increased IP income helped lift margins, and the company is hoping for a further improvement in market conditions in Q4. Total revenues fell…
After three years of shutdown over rampant theft and related damage, Nigerian independent producer Belemaoil Producing has resumed operations at Oil Mining Lease 55, Reuters reported on Monday, citing the company. Located about 40 km west of the Bonny oil export terminal, Belemaoil acquired OML 55 from Chevron Corp. in 2015. However, the company was…
Artificial Intelligence (AI) is fueling the sophistication of attacks across the electronic commerce or ecommerce ecosystem with the use of deep-fakes to defeat verification systems being a key threat. This threat, combined with rising levels of ‘friendly fraud’, where fraud is committed by the customer themselves, such as refund fraud, is increasingly threatening merchant profitability,…
A group, Stakeholders in Blockchain Technology Association of Nigeria (SiBAN), has restated its commitment promoting and safeguarding the integrity, transparency, and ethical standards of the blockchain industry in the country. The group, in a statement jointly endorsed by Obinna Iwuno and Barr Mela Claude Ake, President, and member, SiBAN Board of Trustees of SiBAN…
Nigeria lender, Access Holdings Plc, said its subsidiary, Access Bank Plc, has secured a provisional licence from the Bank of Namibia to establish a commercial bank in the country. In a statement to the Nigerian Exchange and the general public, Managing Director/Chief Executive Officer of Access Bank PLC, Roosevelt Ogbonna, explained why the Tier-1 lender…
