Connect with us

Tech

Court grants CBN’s request to freeze accounts of Rise Vest, Bamboo, Chaka, others

Published

on

An Abuja division of the federal high court on Tuesday granted the request of the Central Bank of Nigeria to freeze accounts of some forex traders in Nigeria.

In an ex-parte motion brought before Justice Ahmed Mohammed by the CBN, the applicant sought an order of the court to freeze the accounts of defendants for 180 days.

The defendants are Rise Vest Technologies Limited, Bamboo Systems Technology Limited, Bamboo Systems Tech. Ltd OPNS, Chaka Technologies Limited, CTL/Business Expenses and Trove Technologies Limited
The Whistler reports that the counsel to the applicant, Micheal Kaase Aondoakaa, told the court that the Naira was weaker to the dollar because of the foreign transactions done with the defendants which prompted the need to freeze their accounts for 180 days.

Mr Aondoakaa sought an order of the court “to freeze forthwith all the bank accounts of the Defendants/ Respondents for a period of 180 days pending the outcome of investigation and inquiry conducted by the CBN,” the order reads.

Christiana Gyang, a senior supervisor of CBN, filed an affidavit stating that the CBN had looked into the transactions of the defendants to enable them determine the role they play in illegal foreign exchange.

“Our review revealed that the company consummated its asset management activities through its account 1017556580 with Zenith Bank Plc, which recorded a turnover of 1.97 billion between January 1, 2019 and April 27, 2021,” Ms Gyang said.

The presiding Judge, after listening to the applicant, granted his prayer and urged aggrieved parties to approach the court to seek redress.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published.

Tech

Google Equiano subsea cable to begin operations in Nigeria by December

Published

on

Google has announced that its 12,000km Equiano subsea Internet cable, which arrived in Nigeria in April, will be operational by December.

 

Equiano is now running through Togo, Nigeria, Namibia, and South Africa, according to Google, and is expected to provide faster, lower-cost Internet to the continent by connecting St. Helena, Togo, Nigeria, Namibia, and South Africa with Europe.

 

 

The American company announced this yesterday at the second Google for Africa event, where it stated that more than 20% of the $1 billion announced last year to be spent on the region over the next five years has been adequately deployed.

 

 

According to a recent economic impact assessment conducted by Africa Practice and Genesis Analytics, the cable would accelerate economic growth in Nigeria by $10.1 billion, South Africa by $7 billion, and Namibia by $260 million by 2025.

 

 

At the same time, Equiano is expected to indirectly create 1.6 million jobs in Nigeria, 180,000 in South Africa, and 21,000 in Namibia as the digital economy and peripheral sectors expand.

 

 

Sundar Pichai, CEO of Google, announced the company’s intention to establish a new Google Cloud region in South Africa, its first on the continent, during the virtual event.

 

 

Pichai explained that the new Cloud Region would assist users, developers, businesses, and educational institutions across Africa in moving more information and tools online, improving customer access options, and creating jobs.

 

 

Nitin Gajria, Managing Director of Google Africa, stated that the company is collaborating with governments, policymakers, NGOs, telcos, business leaders, creators, and media to help accelerate Africa’s digital transformation.

 

 

 

“We believe in growing an open and healthy ecosystem of technology solutions to support Africa’s digital transformation goals, which leads to more opportunities for businesses,” said Niral Patel, Director of Google Cloud Africa. Respect for the environment is part of our corporate ethos, which is why we operate the cleanest cloud in the industry, enabling sustainable digital transformation.

 

 

 

“Along with the cloud region, we are expanding our network through the Equiano subsea cable and building Dedicated Cloud Interconnect sites in Johannesburg, Cape Town, Lagos and Nairobi. In doing so, we are building full scale Cloud capability for Africa.”

 

 

 

 

 

READ ALSO:NDLEA seizes 2.4 million naira worth of Tramadol from Pakistan at Lagos Airport

Continue Reading

Tech

China debuts first flying car in Dubai.

Published

on

The first public flight of a “flying car” built by Chinese electronic vehicle maker Xpeng Inc took place in the United Arab Emirates, as the company works to launch the electric aircraft on international markets.

 

 

 

The X2 is a two-seater electric vertical take-off and landing (eVTOL) aircraft powered by eight propellers, two in each corner.

 

 

 

The manufacturer described Monday’s unmanned, 90-minute test flight in Dubai as a “important base for the next generation of flying cars.”

 

 

We are gradually transitioning to the international market “said Xpeng Aeroht’s general manager, Minguan Qiu.

 

We chose Dubai because it is the most innovative city in the world “Aeroht was added.

 

 

 

 

READ ALSO:Young Nigerian Trainee pilot causes flight accident in US, instructor killed

Continue Reading

Tech

17-year-old Kano boy builds Robot with exoskeleton remote control system.

Published

on

Isah Auwal-Barde, a 17-year-old boy from Kano State, has created a robot that works with a robotic exoskeleton remote control.

 

An exoskeleton remote control is a system in which the robot is controlled by the person operating it through the demonstration of the person’s body parts.

 

Auwal-Barde on Saturday said he grew up with a passion for creativity.

 

He finished his secondary education at Government Secondary School (GSS), Sabuwar-Kofa, Kano, in 2021 and obtained seven credits in science subjects in the West African Examination Council (WAEC).

 

“It took me two years to invent the robot using local materials like DC motors, copper wires, pipes, corrugated cardboard as well as metal, among others, and the robot works with electricity. I want to be a robotics engineer so that I can be producing robots that can be used in addressing security challenges bedevilling the country,” he said.

 

The teenager showered praises on his father for his support.

“Now, I want to get a scholarship to further my education abroad to fulfil my dream of becoming a robotics engineer,” he said.

 

The teenager further stated that his prowess in robotics caught the attention of the National Center for Artificial Intelligence and Robotics (NCAIR) who sent delegates to

visit him.

 

According to him, the delegation pledged to ensure that he is admitted to an indigenous university to study computer engineering.

 

 

“I have been giving him words of encouragement and telling him that he will become a robotics engineer in future,” said his father. “And whenever our electricity or electronics had faults, he was the one to repair them.”

 

READ ALSO : Coalition of Northern Groups debunks allegations that Peter Obi demolished mosques.

 

 

 

Continue Reading