Author: ITPulse

The Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) have issued a final directive to Deposit Money Banks (DMBs) and Mobile Network Operators (MNOs) to settle the outstanding N250 billion USSD debt within six months, failing which they face severe penalties. In a joint circular dated December 20, 2024, the regulators outlined a structured payment plan requiring banks to pay 60% of debts incurred before February 2022 as full and final settlement by July 2, 2025. For debts incurred after February 2022, banks must pay 85% of outstanding invoices by December 31, 2024, and ensure 85% of…

Ozi, a pioneer community-driven delivery app, launches today. It offers users a new way to send packages and earn extra cash.   By connecting people traveling with those needing package delivery, Ozi turns everyday trips into profitable opportunities. It aims to disrupt the global parcel delivery industry, also known as the Courier, Express, and Parcel (CEP) market, which is currently valued at around $460 billion.   Imagine this scenario – You’re traveling to Abuja from Lagos and have space in your car. With Ozi, that unused capacity can earn you extra cash by delivering a package along the way. Or…

Pashione, a groundbreaking fashion-tech African fashion social commerce platform, is revolutionizing the African fashion industry by connecting global consumers with talented designers across the continent. Pashione is available in All African countries, including Nigeria, Kenya, Lesotho, South Africa, and Senegal. It boasts a network of over 960 registered vendors. The platform was founded on a passion for African fashion and a desire to empower local designers. “We saw a unique opportunity to bridge the gap between talented African designers and a global audience by providing a platform to showcase their creativity and reach a wider market. Pashione aims to foster…

Lagos-based financial technology firm Patricia Technologies has commenced repayments to customers impacted by a 2022 security breach. This follows a two-year period where the company focused on recovering funds and rebuilding trust. In 2022, Patricia experienced a significant cyberattack, resulting in the loss of over 600 million Naira from customer accounts. Following the breach, the company temporarily restricted withdrawals and collaborated with law enforcement, leading to the arrest of several suspects, including a prominent politician. Patricia had previously requested a two-to-five-year repayment window, a plan that has now begun to be implemented. The company has started disbursing funds to affected…

This holiday season just got a whole lot more exciting! PalmPay, one of Africa’s leading fintech platforms, and Jumia, the continent’s e-commerce giant, have teamed up to launch a festive campaign that’s all about convenience, rewards, and enhancing your shopping experience. Running from December 11th to 28th, 2024, this holiday campaign is set to reward shoppers who use the new “Pay with PalmPay” feature on Jumia with cash prizes. Every purchase made using the direct payment method automatically enters participants into a draw, giving them a chance to win exciting cash rewards while enjoying the seamless shopping and payment process.…

In a significant move to bolster Defence Health Services and strengthen the partnership between the United States and Nigeria, the Honourable Minister of State for Defence, H.E. Dr. Muhammad Bello Matawalle MON, met with a U.S. delegation led by Dr. David Smith, Deputy Assistant Secretary of Defence for Health. The meeting focused on enhancing the existing collaboration in defence health between the two nations, which has previously facilitated the establishment of high-tech laboratories in Nigeria. The Honourable Minister commended the U.S. for their efforts and urged for the expansion of these medical facilities beyond Abuja and Lagos to reach more…

The National Bureau of Statistics (NBS) has confirmed a recent cyberattack on its official website. The agency took to its verified X account to inform the public and advise them to disregard any information posted on the compromised platform. The NBS assured the public that it is actively working to restore the website and normal operations. While the extent of the breach is still being assessed, the incident raises concerns about the potential misuse of sensitive data and the reliability of information disseminated through the platform. This cyberattack comes shortly after the NBS released several high-profile reports, including the Crime…

Nigeria’s mobile subscriber base has shown signs of recovery, increasing to 157.3 million in October 2024 from 154.6 million in September. This uptick follows months of decline caused by the Nigerian Communications Commission’s (NCC) extensive audit and the implementation of the NIN-Sim linkage exercise. The exercise led to a significant drop of 64.3 million lines between March and September. MTN and Airtel were the primary drivers of this growth, both experiencing an increase in their subscriber base during October. As a result of this growth in active connections, the country’s teledensity – the number of active telephone connections per 100…

Interswitch, a leading African integrated payments and digital commerce company, has reaffirmed its commitment to driving innovation and empowering young talent in Nigeria by sponsoring the Financial Services Innovators (FSI) Intensive Software Testing Programme. The recently concluded 8-week online program trained 100 university students, emerging innovators, and tech enthusiasts. Participants were equipped with critical software testing skills, preparing them to play vital roles in maintaining the quality and security of software products. Muyiwa Asagba, Managing Director, Digital Commerce and Merchant Acquiring (Interswitch Inclusio), emphasized the importance of investing in young talent: “Innovation thrives when young minds are given the tools…

The second edition of Newmark Nigerian Industry Webinar held yesterday provides a comprehensive overview of how artificial intelligence, automation, and content are reshaping the PR landscape. The webinar with the theme: ‘The Future of PR in a Digital Age: Content, Automation, and the Role of AI’ dive into how professionals and journalists can leverage emerging technologies to navigate the evolving digital landscape, deliver impactful and compelling content, and manage crises effectively and in real time. Key Takeaways: AI as a Strategic Partner: AI tools can streamline tasks, enhance creativity, and improve data analysis. However, human creativity and critical thinking remain…