Technology

E-Naira Is Secure, Dependable, CBN Assures Users

Published

3 years ago

October 29, 2021

E-Naira Is Secure, Dependable, CBN Assures Users

The Central Bank of Nigeria has said its newly launched e-Naira project is secure and dependable. The Director of Corporate Communications, Mr. Osita Nwanisobi, stated this while speaking at the ongoing CBN-Fair in Abakaliki on Thursday.

According to the apex bank, the security and dependability of the e-Naira stem from the fact that it uses cryptographic technologies encrypted with two factors for authentication. The CBN, however, observed that the new digital financial project might pose some challenges to Nigerians in the short term because it works with Bank Verification Numbers.

Nwanisobi said, “The issue of security and dependability of the e-Naira platform is guaranteed. It is guaranteed because the technology uses cryptographic encrypted two factors of authentication. And so, the issue of whether the platform is secured is taken, as it is secured.

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He warned Nigerians to eschew unregulated financial schemes propagated by fake Ponzi operators, saying this had robbed them of their hard-earned money. According to him, there is no way a genuine investment can offer 10 percent monthly returns and 120 percent per annum.

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SERAP Urges Court to Bar Security Agencies from Accessing NIN Details

Published

2 years ago

March 14, 2022

GiftUgbede

Socio-Economic Rights and Accountability Project (SERAP) has urged a Federal High Court in Lagos to restrain security agencies from accessing people’s personal details via NIN-SIM linkage without due process of law.

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The civic society organization, in the suit which is yet to be assigned to a judge, is asking the court to determine “whether the approval for security agencies to access people’s personal details via the National Identification Number [NIN] without due process is consistent with the principles of legality, necessity, and proportionality.

The organization is also praying the court for an order setting aside President Buhari’s approval for security agencies to access people’s details via NIN-SIM linkage without due process of law, as this amounts to violations of private and digital communication rights, right to family life, human dignity and personal liberty.”

It is further urging the court for an order of perpetual injunction restraining the Federal Government or any other authority, persons or group of persons from unlawfully accessing people’s personal details via NIN-SIM linkage without due process of the law.

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Nigeria, Japan Launch I-Hatch Startup Incubation Programme to Develop Scalable Business Models

Published

2 years ago

March 11, 2022

GiftUgbede

Nigeria, Japan Launch I-Hatch Startup Incubation Programme to Develop Scalable Business Models

The Nigerian and Japanese governments have announced the launch of an idea hatch (i-hatch) startup incubator programme for bootcamps to develop scalable business models in Nigeria.

This was disclosed in a statement by the National Center for AI and robotics in Nigeria (NCAIR) alongside the Japanese Ambassador to Nigeria, Matsunaga Kazuyoshi with other dignitaries from the Japan International cooperation agency.

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The programme is expected to focus on ICT innovations and entrepreneurship.

The organization said the Director General, National Information Technology Development Agency, Kashifu Inuwa, hosted kazuyoshi alongside fellow dignitaries from the Japan International Cooperation Agency during the opening ceremony of Idea hatch (ihatch) startup incubation programme cohort one-2022.

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MTN, Mafab Pay $273.6 Million Each for 5G Licence

Published

2 years ago

February 25, 2022

GiftUgbede

MTN Communications Nigeria Plc and Mafab Communications Limited, have made full payment of 273.6 million dollars each for the 5G Spectrum license to the Nigerian Communications Commission.

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The Executive Vice Chairman of the NCC, Umar Danbatta, confirmed the payment Thursday.

MTN Nigeria, Mafab Communications Ltd and Airtel Networks Ltd submitted bids with an initial bid deposit of 19.74 million dollars, representing 10 per cent of the reserve price by the close of the bid submission date of November 29, 2021.

The Commission said following the successful auction on December 13, 2021 and the emergence of MTN and Mafab as winners, they were required to pay the balance of the bid amount of $253.86 million on or before February 24, 2022.