Day: February 20, 2021

Telecoms giant, Huawei, turns to pig farming as smartphone sales crash

Tade Salako

  The Chinese telecoms giant was stopped from accessing vital components after the Trump administration labelled it a threat to US national security.     Telecoms giant, Huawei, is turning to technology for pig farmers as it deals with tough sanctions on its smartphones. The Chinese telecoms giant was stopped from accessing vital components after the Trump administration labelled it a threat to US national security. In response to struggling smartphone sales, Huawei is looking at other sources of revenue for its technology. Along with Artificial Intelligence (AI) tech for…

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How Antonov An-124 Carried 54 Tonne Generator From Ghana To India

Aoko Benjamin

  The Antonov An-124 made an interesting journey this week, flying from Accra, Ghana, to Mumbai, India, and back again. The specialized freighter was carrying an oversized power generator which required urgent repairs. As demand for air cargo soars, planes like the An-124 have seen themselves flying missions globally. Urgent operation According to Stat Trade Times, the An-124 was chartered from Antonov Airlines for a special ferry mission by Rhenus Project Logistics USA. The logistics company needed the aircraft to carry a massive power generator with a unique shape, requiring more…

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Nigerian Banks borrow N15.95bn from CBN in one Month + FULL LIST

Aliyu Aliyu

‌ Commercial Banks in Nigeria borrowed N15.95 billion from the Central Bank of Nigeria (CBN) in the Standing Lending Facility window in November, 2020. The CBN, which confirmed this in its latest monthly economic report for November, maintained that the Deposit Money Banks have, with this, continued to reduce their borrowings due to excess liquidity in the system. Part of the report read, “Deposit Money Banks and merchant banks continued to access the standing facilities window to square liquidity positions in November 2020. “The trend at the CBN standing facilities…

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‘How Instagram Star ‘Hushpuppi’ Laundered Funds For North Korean Hackers’

Wonuola Olujobi

  New details have emerged about the case against Instagram influencer Ramon Abbas popularly known as Hushpuppi, who wowed the internet with pictures of his clothes, cars, money and lifestyle between 2012 and 2020. In July, Abbas was charged by the U.S. Attorney’s Office in Los Angeles with conspiring to launder hundreds of millions of dollars from “business email compromise” (BEC) frauds and other scams. On Wednesday, the Department of Justice shed more light on one of those scams: working with North Korean hackers to launder funds stolen from a Maltese bank.…

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WIEN, REAN ink deals to Co-host 2nd International Women in Energy Symposium

Efe Wellington

  The Women in Energy Network (WIEN) has declared partnership plan with the Renewable Energy Association of Nigeria (REAN) to host the International Women in Energy Symposium. President of WIEN, Ms. Funmi Ogbue, who stated this during a virtual press conference, maintained that this is in recognition of the need to support strategies that will promote and enable equal participation of women in the energy value chain. The Virtual Symposium is sub-themed: “Light Up Africa”. It aims to bring together Women in Energy across Africa. The event will yield initiatives, to extend the…

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Shell opens up on $2.7bn oil row with Aiteo, moves to get accounts unfrozen

Efe Wellington

  The Shell Petroleum Development Company (SPDC) has opened up to Platforms Africa on the bickering between it and AITEO Eastern E&P Company Limited, over crude oil metering disagreement, which has led a Federal High Court Sitting in Lagos, Nigeria’s commercial capital, to block its accounts in 20 commercial banks. The company, insisted in a statement sent to this fastest growing Africa-focused online newspaper that it believed that “the freezing injunction was obtained by Aiteo without any valid basis.” Here is the full statement issued by Bamidele Odugbesan, Media Relations…

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