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Six Nigerian Cities Get 5G Network as Telecom Firm Plans to Add More



Telecommunications - Investors King

Exactly six major cities in Nigeria have become hosts to the fifth-generation network, popularly known as the 5G Network.

The cities are Abuja, Kano, Port Harcourt, Lagos, Enugu and Kaduna even as the network provider, Mafab Communications has disclosed efforts to expand the network in other cities.

On Thursday, the 5G was launched in Lagos State while Abuja, the nation’s capital territory, formally welcomed the fifth generation network.

However, the telecommunications firm has said it was yet to make the 5G public for commercial purposes whereby residents of the affected cities would be enjoying its services.

Investors King reports that presently, the fourth generation of broadband cellular network technology is the one that is being majorly used.

4G succeeded 3G network even as Nigerians have been yearning for upgrade in the broadband system.

Speaking at the recent launch in Lagos, Mafab Communications said it was leveraging already existing infrastructure for its 5G launch.

The Chairman of the firm, Dr Mushabu Bashir, said the telecommunications industry made history on Tuesday with the launch of its 5G Network in Abuja.

Bashir said the firm was motivated by the launch in FCT to choose Lagos for the installation of the facility.

Bashir said Mcom is desirous of having more coverage for Nigerians and accelerating its broadband services.

While noting that the firm’s plans are quite ambitious and realistic, Bashir reiterated the preparedness to take the latest network to other sites and cities across Nigeria.

It was gathered that the firm presently has less than 100 live 5G sites, but is targeting 100 live 5G sites in February, this year, to boost its coverage to other states.

The Public Relations Officer of Mafab’s Communications, Adebayo Onigbanjo, said the firm wants to concentrate on voice packages before improving its effort on the 5G coverage.

Onigbanjo said he was making efforts at having rollout across the country and expressed difficulty in disclosing certain number of transceiver stations.

He pointed out that voice is from day one of the launching date, adding that the opportunity that exists to do voice from day one is the existing infrastructure.

Mafab’s spokesperson said the national roaming would allow the firm to offer its customers voice services from day one while it rollout continuously the 5G infrastructure.

According to him, other operator that rolled out 5G lack nationwide 5G and that Mafab would ensure that the network circulates.

He said the firm was searching for markets to install base stations in those areas and continue to expand as traffic moves forward.

Speaking at the Lagos launch of the network, the Governor of the state, Babajide Sanwo-Olu, said more than 500,000 jobs have been provided by the telecommunications firm.

The governor, who was represented by the Lagos State Commissioner for Science and Technology, Hakeem Fahm, noted that the economy of the state has appreciated significantly owing to contributions and efforts of Mafab.

Specifically, for the economy of Lagos State in particular and Nigeria as a whole, Fahm said the telecommunications industry has contributed more than $70bn aside its job creation efforts.

According to him, there are many gains and prospects that the 5G network would usher to the state.

Describing 5G network as next level technology, the Commissioner expressed high optimism that the different sectors of the state economy, most especially in the security sector would have much improvements owing to the latest network.


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Meta Shuts Down 63,000 Nigerian Accounts in Sextortion Crackdown



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In a significant move to combat online crime, Meta Platforms Inc., the parent company of Facebook, Instagram, and WhatsApp, has removed 63,000 accounts in Nigeria linked to sextortion scams.

This sweeping action is part of Meta’s ongoing effort to address the growing threat of digital extortion on its platforms.

Unmasking the Scammers

The crackdown, which took place at the end of May, targeted accounts engaged in blackmail schemes.

These scammers posed as young women to coerce individuals into sharing intimate photos, which were then used to extort money from the victims.

The removal follows a Bloomberg Businessweek exposé highlighting the rise of such crimes, particularly affecting teenagers in the United States.

The Global Impact

The U.S. Federal Bureau of Investigation (FBI) has identified sextortion as one of the fastest-growing crimes targeting minors.

The schemes often lead to severe consequences, including the tragic suicides of more than two dozen teens.

In one high-profile case, the death of 17-year-old Jordan DeMay in Michigan led to the arrest of suspects traced back to Lagos, Nigeria.

The Role of the Yahoo Boys

Many of the dismantled accounts were linked to the “Yahoo Boys,” a notorious group known for orchestrating various online scams.

These individuals have been using social media to recruit and train new scammers, sharing blackmail scripts and fake account guides.

Meta’s Response

Meta’s spokesperson emphasized the company’s commitment to user safety, stating, “Financial sextortion is a horrific crime that can have devastating consequences.”

The company is continually improving its defenses and has reported offenders targeting minors to the National Center for Missing & Exploited Children.

To enhance protection, Meta has implemented stricter messaging settings for teen accounts and safety notices regarding sextortion.

They are also employing technology to blur potentially harmful images shared with minors.

Ongoing Efforts

Meta’s actions highlight the complex and evolving nature of online crime. The company has pledged to remain vigilant, adapting its strategies to counter new threats as they emerge.

“This is an adversarial space where criminals evolve to evade our defenses,” Meta noted.

Looking Forward

As digital platforms continue to grapple with issues of privacy and security, Meta’s recent actions demonstrate a proactive stance in safeguarding users.

By dismantling these networks, the company aims to reduce the prevalence of sextortion and foster a safer online environment for all.

The crackdown serves as a reminder of the need for continued vigilance and collaboration between tech companies and law enforcement to protect individuals from the harmful effects of digital exploitation.

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Flutterwave Celebrates Inclusion in CNBC’s Top 250 Global Fintechs



Flutterwave has been recognized as one of the Top 250 Fintech companies globally by CNBC and Statista.

Joining the ranks of industry giants like Ali Pay, Klarna, Piggyvest, and Mastercard, this accolade underscores Flutterwave’s impact on the financial technology sector.

This honor follows Flutterwave’s recent inclusion in Fast Company’s Most Innovative Companies list, highlighting the company’s pivotal role in transforming Africa’s payment landscape.

The recognition is a testament to Flutterwave’s dedication to innovation and excellence in providing seamless payment solutions across the continent.

Expressing gratitude, Flutterwave acknowledged its talented team, supportive board, reliable partners, and loyal customers for contributing to this success.

The company continues to drive progress in the fintech industry, reinforcing its commitment to enhancing financial accessibility and inclusion in Africa and beyond.

Flutterwave’s recognition on these prestigious lists marks a proud moment and a significant milestone in its journey, reflecting the company’s growing influence and leadership in the global fintech arena.

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Google Leads $250 Million Funding Round for Glance



A logo is pictured at Google's European Engineering Center in Zurich

Google is leading a $250 million funding round for Glance, a mobile content provider.

This infusion of capital aims to expand Glance’s reach and solidify its market position amidst growing competition.

Glance, a subsidiary of InMobi Group, offers a unique service that delivers news, entertainment, and other content directly to users’ mobile screens without unlocking their devices.

With a user base exceeding 300 million across India, the US, Japan, and Indonesia, the startup has gained significant traction since its inception in 2019.

The funding round, expected to close in the coming weeks, marks a continued partnership between Google and Glance.

Google initially invested in the company in 2020, and this latest round will further enhance Glance’s capabilities to innovate and reach new audiences.

This investment reflects Google’s strategic interest in India, the world’s most populous nation, where it competes with tech giants like Microsoft, Meta, and Amazon.

With India’s rapidly growing middle class and increasing smartphone adoption, the market presents vast opportunities for digital expansion.

The support from Google comes on the heels of a previous $200 million investment by Mukesh Ambani, Asia’s wealthiest individual, which valued Glance at over $1 billion.

The startup’s largest stakeholder, InMobi, continues to thrive as a pioneer in mobile advertising, with Glance benefiting from its expertise and resources.

As Glance prepares for this new phase of growth, it stands poised to redefine how content is consumed on mobile devices worldwide.

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