Day: 21 August 2024

Five banks to battle hackers with N222bn

Jide Ige

Financial institutions that have started raising capital have stated that they will allocate $1.20bn from the proceeds to invest in technology and bolster their cybersecurity infrastructure. This was indicated in the offer prospectus of five lenders that have commenced their capital raise, to meet the new capital requirement of the Central Bank of Nigeria. In late March, the CBN announced new capital requirements for the banks operating in the country. The apex bank directed commercial banks with international authorisation to increase their capital base to N500bn, national banks to N200bn…

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Bandits kill 74yr-old abducted Sokoto monarch

Jide Ige

The District Head of Gatawa in Sokoto State, Isa Muhammad Bawa, who was abducted alongside his son and brother 25 days ago, has reportedly died in captivity. Multiple sources confirmed the development to our correspondent on Wednesday A resident of Gatawa, Mahe Mukhtar, said the death was confirmed by the office of the deceased and there was a condolence message from the member representing Isa-Sabon Birni federal constituency on the death. Cousin of the victim, who is the Magajin Garin Sabon Birni, Shuaibu Gwanda Gobir, also confirmed his death to…

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Kwankwaso, Kano Gov.’s CoS named in Nmulti procurement fraud

Jide Ige

The Kano State Public Complaints and Anti-Corruption Commission (PCACC) has launched investigations into allegations of a multi-million naira procurement fraud, as well as a case of alleged mismanagement of federal government palliatives. Among those expected to be questioned over the alleged scams are Musa Garba Kwankwaso, a nephew of Senator Rabiu Musa Kwankwaso, and the Chief of Staff (CoS) to the Governor, Shehu Wada Sagagi. Musa Kwankwaso, who is closely related to the New Nigeria People’s Party’s (NNPP) presidential candidate and the political godfather of Kano State Governor Abba Kabir…

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