In furtherance of its Naira Redesign policy and in recognition of the need to maximise the channels through which underserved and rural communities can exchange their Naira, the Central Bank of Nigeria (CBN) Friday launched a Cash Swap programme in partnership with Super Agents and Deposit Money Banks, DMBs. The programme enables citizens in rural areas or those with limited access to formal financial services to exchange old Naira notes for redesigned notes. Since the introduction of the new Naira notes, the apex bank has sustained its nationwide awareness and sensitization programmes, enforced speedy collection of the new notes at…
Author: DigitalTimesNG
Airtel Nigeria has donated traffic booths to the Lagos Police Command as part of its commitment to support the activities of the police in ensuring the coordination and safety of Lagos Road users. The brief ceremony, which took place at the Lagos State Police Headquarters, Ikeja, on Thursday, January 19, 2022, was to officially hand over the traffic booths to the Lagos Police Command. Speaking at the ceremony, Director of Corporate Communications, Airtel Nigeria, Femi Adeniran, said, ” Over the years, Airtel Nigeria has worked closely with the Lagos Police Command, and we have collaborated on several initiatives with a…
Google’s parent Alphabet Inc is cutting about 12,000 jobs, or 6% of its workforce, it said in a staff memo Friday, according to a report by Reuters. This comes as the technology sector reels from layoffs and companies stake their futures on artificial intelligence (AI). Alphabet’s shares were up nearly 3% in pre-market trading. The cuts come at a delicate moment for the U.S. company, which has long been the leader in key areas of AI research. Alphabet now faces a challenge from Microsoft Corp in a branch of tech that can, for instance, create virtually any content a user…
By Elonna AGUH KSM My previous publications on PenCom titled, the Savvy Story of PENCOM (Part 1-3) looked at the success stories of PenCom and attempted to give insight into her transition and successes since inception. This article however takes a closer look at some of the strategic moves the commission made in 2022 to ensure it lives up to its mandate. In the second quarter of 2022, the commission went after defaulters (employers) who failed to remit pension contributions for their employees to their respective Pension Fund Administrators (PFAs). This strategic move saw the recovery of N721.12 million from…
The World Economic Forum (WEF) has announced plans to launch the Centre for Trustworthy Technology to promote responsible production and use of emerging technologies such as artificial intelligence and machine learning, blockchain, virtual reality and quantum computing. Based in Austin, Texas, the Centre for Trustworthy Technology joins a global network of 17 centres connecting public and private sector stakeholders to maximise the benefits of emerging technologies whilst minimising the risks, according to a report in ITP.Net Jeremy Jurgens, Managing Director, WEF and Head of the Centre for the Fourth Industrial Revolution, highlighted the centre’s key role is to ensure that…
Microsoft chairman and CEO, Satya Nadella highlighted in a session at the World Economic Forum, that a ‘golden age of AI’ is upon us and that it will redefine work as we know it. “The future of work is not just about technology and tools,” he said. It’s about new management practices and sensibilities to the workplace.” In the recent past, it has been widely reported that the tech giant is ramping up its investments into ChatGPT, an AI-powered and large language model developed by OpenAI that can be used for natural language processing tasks. The AI platform site amassed…
Microsoft plans to cut around 5 per cent of its global workforce, resulting in the loss of around 11,000 jobs, reports Sky News. The company has more than 220,000 employees worldwide, including 6,000 in the UK. The job losses could be announced within days in the face of a global economic downturn, likely before Microsoft reports its second-quarter earnings on 24 January. This latest round of job cuts follows recent moves by major tech companies worldwide to reduce their workforce and lower costs. Amazon has announced plans to cut around 6 per cent of its global workforce or 18,000 jobs;…
The Nigerian Communications Commission (NCC), Wednesday in Abuja, signed a revised Memorandum of Understanding with the National Lottery Regulatory Commission, NLRC, with provisions to deter unapproved lottery and gaming practices on telecommunications platforms through information and intelligence sharing. Prof. Umar Danbatta, Executive Vice Chairman of NCC, noted during the ceremony that the MoU, which will impact the gaming industry, is in sync with the Commission’s Strategic Vision Plan (SVP) and is in a bid to promote fair practices in the industry for the protection of telecommunications consumers in relation to lottery and gaming activities. Danbatta said the collaboration is in…
Nearly three-quarters (73%) of CEOs believe global economic growth will decline over the next 12 months, according to PwC’s 26th Annual Global CEO Survey, which polled 4, 410 CEOs in 105 countries and territories in October and November 2022. The bleak CEO outlook is the most pessimistic that CEOs have been regarding global economic growth since 12 years ago and is a significant departure from the optimistic outlooks of 2021 and 2022 when more than two-thirds (76% and 77%, respectively) thought economic growth would improve, ITOnline reports. According to the report, in sub-Saharan Africa, CEO survey respondents expressed many similar…
MTN Ghana has received a bill for back taxes of around GHS8.21 billion (USD664 million), including penalties and interest charges, the company announced on Friday. The Ghana Revenue Authority (GRA) issued a notice of the tax liability assessment after an audit determined the operator had under-declared its revenue by more than 30% for the five-year period 2014-2018. In a statement, MTN Ghana said it ‘strongly disputes the accuracy and basis’ of the assessment and believes all taxes due have been paid for the period. ‘MTN Group and MTN Ghana will continue to engage with the relevant authorities on this matter…