General News
Telcos Can Reduce Cost with Synthetic Fuel –Edward

Ifeanyi Edward is the chief executive officer of Proxynet Communications. He has over a decade experience in the information technology industry especially in the technical and sale service sector of the industry. He joined Proxynet five years ago and has helped the company establish its footprint in several African countries such as Nigeria and South Africa. He spoke to chike onwuegbuchi on new product DieslFix which the company has just introduced into the market.
Dieselfix
Proxynet Communications is the authorized sole distributor of DieselFix, a product purely made to reduce the diesel consumption of the generators. DieselFix is owned by Supafuel based in Geneva, Switzerland while the DieselFix factory is in Johannesburg, South Africa. Our key focus is to save fuel, we want to save the engine, we want to save the environment. Today in Nigeria, every sector, the financial services sector, the telecom sector, manufacturing sector, hospitality sector, among others uses thousands of litres of diesel, everyday, every month to keep their businesses running because of the peculiarity of the Nigerian infrastructure from the power perspective.
Dieselfix is not a new product as it were to Nigeria; different companies are already using it. Tests have been done in Nigeria with some telcos and tests are being done presently with some companies in the hospitality industry. We are confident that when we put this product in any generator that runs on diesel or fuel as it were, we are 100 percent sure that it will give the owner a minimum of 10 percent savings on the cost of each litre of diesel such generator uses. The simple chemistry there is that diesel naturally absolves water and diesel naturally contains water, our solution reacts with the water in any diesel by converting it to fuel soluble lubricant.
Environmental Hazards of the Solution
That is why we say we are saving the environment. With the test conducted today in Israel, nearly six months test with the university, it will reduce the air emission by over 30 percent. For example, hydrocarbons and carbon monoxide will all come down by 30 percent and the suit that causes cancer will come down by 30 percent. We are running a similar test in China. A litre of Dieselfix is used in every 4,000 litres of diesel used in any generator to ensure a 10 percent reduction in diesel consumption while maintaining and ensuring that you have lesser maintenance cost of your engine because it burns off the carbon dioxide.
Our starting point is quite different from others, in Nigeria’s case we have very little refining credibility, so the crude oil is exported out and the finished product is brought back to the country by sea and in that process after the fuel has been produced and brought back to Nigeria, the handling also is very poor in many cases accumulates a lot of water. What we have done is that we have tested some of the diesel here in the country to confirm that fuel have a lot of water in this country. Clean diesel should be clear, clean and conform to specification. We are saying if you have bad diesel and you put it into your engine, you can have bad results because water should not be in the diesel to start off with, because the minute there is water, it is off the specification of diesel. That water touches your engine in a few ways because it has no lubricity and will damage your fuel system; your fuel pump and fuel injectors will be damaged by the water. A lot of the companies that we spoke to said they change injectors all the time and injectors are very expensive parts of an engine. A modern engine in fact is not very tolerant of water because it is extremely high compression as it work under extreme pressure and water is a definite No. Also, when you have the water and the diesel together, water has no power; it does not combust, so, you mixing it into your fuel to generate power is bad. When water is in diesel you have to spend more money buying more diesel for the same amount of power. Any engineer will understand that water should not be in the engine, it is bad for the engine, and it will destroy the engine and will raise operating cost in terms of maintenance and spending more on diesel. It will also increase your capital expenditure because when your generator packs up, you have to buy a new one. For a telco for example, when a generator goes down because of water related problems, that BTS cannot generate traffic so you actually loose a lot of revenue. In a hotel, when your generator goes down, guests will not stay there because there is no light. We understand the Nigerian fuel on a day to day basis and our solution is designed to treat that. But however, we work throughout Africa, it is not unique to Nigeria but to a lesser degree in more developed countries because the control is better.
How much Telcos Can Save in A Year Using The Solution
We guarantee a minimum of 10 percent savings. This product is different in that, it is not an additive. It is a synthetic fuel, our product conforms to diesel specification and why is that important? It is very important because at the end of the day generators in Nigeria are made by somebody. For example, Caterpillar published a worldwide book on bad fuel, stating what they expect their customers to do. If you as a customer is putting a fuel like that into your engine, your warranty expires, if Caterpillar finds out that this is the kind of fuel you use. I can show you in reality that this is what is happening. A fuel specification from Caterpillar states that the kind of fuel you use must have no water, a minimum amount of this and that. What we have done as a company is to map out a fuel specification for Nigeria and the government also said for the fuel we use in Nigeria, it is going to conform to certain specifications. The certification of our product which confirm our products is 100 percent diesel means you can take our product if you want to, fill up your diesel engine and it runs, you cannot do that with any other product. This means the end user will have no warranty issue which is extremely important. Ours is a synthetic diesel, it is a chemical diesel, it is not biodiesel. Biodiesel is when you take plants and turn it into diesel. We are a chemical diesel because diesel is carbon and hydrogen. Our diesel is designed to do two things; one, it converts the water in the diesel into a fuel soluble lubricant; two, it is a very competent carbon solvent because as the engine works with a typical Nigerian fuel, there is a lot of carbon. When you look at any generator, when it is started, a thick fog of smoke pops up. That is the unburnt fuel that clogs up the engine, making it less efficient. At the same time the same solvent dissolves all the bacteria growing in the diesel. So, our product cleans the fuel and the engine to give maximum combustion for minimum emission, thereby reducing the cost of maintenance.
Support
In a short while, everything working out the way we plan, we will have a mini plant here because it is not produced locally, by then we will have everything necessary to support the product. In terms of support, we have a 14 to 17 man technical team in the country regularly to support the product and carry out skill transfer.
Target Market
The target market is all companies in Nigeria, because everybody runs their generator on diesel. It will make a lot of sense for even the middle scale industries, financial services sector, manufacturing companies, telecommunication companies and hospitality sector. I am sure you will recognize that manufacturing companies especially the textile industries packed up because of diesel, they could not afford to run on diesel for 24 hours.
Proskool Software
Proskool software is a complete web enabled database driven school management software that manages both students and staff records to simplify school management procedures. The software is designed to ensure better data flow between school management team, students, parents and teachers. It is geared towards the nursery, primary and secondary schools. Proskool seamlessly manages school administration, students’ billings, process student’s results and staff payroll.
With an Internet connection in place, the school management team enjoy the flexibility of logging into the software from anywhere in the world. They can have an overview of all students registered per term, have first hand detailed information on students’ school fees payment status, know the amount owed the school with an idea of due payment dates without consulting the accountant.
Proskool captures students and parents’ biodata to enable the school send messages to parents on occasions like birthdays or other events to foster harmonious relationship between the school and parents. Students’ report sheets can also be generated and e-mailed to parents and guardians to ensure proper receipts of report cards by parents.
Teachers can as well see the payment status of each student in their class to initiate a proper follow up and can automatically compute students’ cumulative point after each test and examination.
Proskool was developed using PHP server-side scripting, MySQL and Apache web server and is compliant with all web browser. Its uniqueness lies in its ability to simplify task and make records more useful.
General News
Tech Firms Sack over 45,000 so Far in 2026

More than 45,000 jobs have been cut across the global technology sector in the first few months of 2026, according to data from RationalFX, signalling that the industry is still adjusting after a period of aggressive hiring rather than returning to a full growth phase.

“In 2025, automation, artificial intelligence, and sustained cost-discipline measures drove much of the downsizing, with entire departments restructured or eliminated in favour of leaner, AI-assisted workflows. This trend has continued full steam into 2026,” said Alan Cohen, analyst at RationalFX.
According to the report, if the current rate of redundancies is sustained, total layoffs in 2026 could surpass the 245,000 recorded in 2025.
The majority of these layoffs have been concentrated in the United States, with major companies continuing to trim their workforce despite stable core operations.
Amazon has announced approximately 16,000 job cuts this year, while Block has also reduced thousands of roles as it tightens operations and shifts focus towards artificial intelligence.
There are indications that further reductions may follow.
Meta is reportedly considering additional layoffs as it increases investment in AI infrastructure, while PayPal and Klarna are reassessing spending and hiring strategies amid ongoing uncertainty.
Established technology firms are also undergoing restructuring. Dell has reduced its workforce by around 11,000 over the past year as part of a broader reorganisation, while Salesforce has cut approximately 1,000 roles in 2026 while aligning its teams more closely with AI-driven products.
Outside the United States, layoffs have been smaller in scale but more geographically dispersed.
Australia has reported around 2,650 job cuts so far this year, followed by Sweden with roughly 1,923 and Netherlands with about 1,700.
Other markets have also been affected. Israel and India have recorded approximately 1,539 and 1,520 layoffs respectively, with Israel’s startup ecosystem particularly sensitive to tighter funding conditions, while in India, both startups and larger IT firms have reduced headcount as global client spending slows.
In Singapore, around 1,016 layoffs have been reported, reflecting a softer hiring environment across Asia’s major technology hubs, where companies are adopting a more cautious approach amid uneven demand.
Across Europe, job cuts have been comparatively limited but still noticeable.
The United Kingdom has recorded around 1,000 layoffs, while Czech Republic and Germany have seen smaller reductions.
The broader trend suggests that technology companies are shifting towards leaner operations and more defined priorities following years of expansion. Increasing investment in automation and artificial intelligence is also reshaping the types of roles in demand.
For employees, the impact is becoming increasingly visible, with hiring slowing and becoming more selective. While opportunities remain, companies are taking a more measured approach to recruitment compared to the rapid expansion seen in previous years.
Further credit… .storyboard18.com
General News
Jury Finds Elon Musk Liable for Misleading Twitter Investors

Elon Musk, a billionaire internet entrepreneur, was held responsible by a federal jury in San Francisco for deceiving Twitter shareholders during his contentious $44 billion takeover of the social media site.

Elon Musk
Following a three-week trial in a federal court in California, the verdict was handed out on Friday.
It found that Musk had made false and misleading representations in tweets that were posted in May 2022.
The jury concluded that at a crucial point in the purchase process, these remarks caused Twitter’s share price to decline.
Investor Giuseppe Pampena filed the action on behalf of stockholders who sold their Twitter stock between mid-May and early October 2022, a time when Musk’s commitment to closing the purchase was questionable.
Jurors determined that Musk violated US securities laws prohibiting deceptive statements capable of influencing market prices.
Legal representatives for the plaintiffs estimate potential damages at approximately $2.6 billion, exposing Musk to a significant financial penalty if the ruling is upheld.
In order to give Musk leverage to renegotiate the purchase price or back out of the transaction, plaintiffs contended that the statements were meant to lower Twitter’s valuation.
Musk finished the transaction in October 2022 after Twitter filed a lawsuit to enforce the arrangement, despite early attempts to end it. Later, he changed the platform’s name to X.
The ruling has been disputed by Musk’s legal team, which has confirmed plans to appeal and described it as a temporary setback.
For Musk, who has won a number of well-known court cases, the decision represents a rare setback.
Meanwhile, he was cleared in a separate defamation case in Texas and had also won a similar shareholder lawsuit in 2023 related to his 2018 tweets about taking Tesla private.
General News
SEC, NYSC Partner to Combat Ponzi Schemes

Securities and Exchange Commission (SEC) and the National Youth Service Corps (NYSC) have formalised a strategic partnership aimed at embedding financial literacy and anti-Ponzi education into the national service programme.

This is in a move to shield young Nigerians from the growing menace of fraudulent investment schemes.
The collaboration, sealed through a Memorandum of Understanding (MoU) signed in Abuja, marks a significant step toward strengthening investor education at the grassroots level by targeting thousands of corps members annually.
The agreement was executed by Emomotimi Agama, director-general, SEC, and Olakunle Oluseye Nafiu, his NYSC counterpart, at the NYSC headquarters.
At the heart of the initiative is the integration of anti-Ponzi scheme campaigns into the NYSC’s Community Development Service (CDS), specifically under its Education and Enlightenment arm.
The move is designed not only to educate corps members on identifying fraudulent investment schemes but also to cultivate a culture of responsible and informed investing among Nigeria’s youth population.
Under the terms of the agreement, the SEC will spearhead the development of comprehensive educational materials and training modules covering capital market operations, safe investment practices, and strategies for identifying and avoiding Ponzi schemes.
The Commission will also fund and facilitate specialised training sessions for selected corps members and NYSC officials, who will, in turn, serve as facilitators within their host communities.
The NYSC, on its part, will ensure the seamless integration of these training modules into its existing CDS framework. This will include structured workshops, sensitisation campaigns during orientation camps, and continuous engagement throughout the service year.
By leveraging its nationwide presence across all local government areas, the scheme is expected to amplify awareness and significantly reduce the vulnerability of young Nigerians to financial fraud.
Both institutions also pledged to collaborate on extensive public awareness campaigns using a blend of traditional media, digital platforms, and grassroots outreach initiatives.
In addition, mechanisms will be established for data sharing and performance tracking to assess the impact and effectiveness of the programme over time.
Speaking at the signing ceremony, Agama underscored the SEC’s longstanding commitment to youth development through the NYSC scheme.
He revealed that the Commission currently hosts between 160 and 180 corps members, one of the highest among public institutions in the country.
“We have consistently demonstrated our belief in the capacity of young Nigerians by providing them with opportunities to learn and grow within the capital market ecosystem.
“These corps members are not just participants; we regard them as integral members of our workforce. By equipping them with the right knowledge and values, we are preparing them to become ambassadors of sound investment practices in society,” he said.
Agama further emphasised that the initiative aligns with the Commission’s broader mandate of investor protection and market development, noting that early education remains a critical tool in combating financial scams.
In his remarks, Nafiu described the partnership as a milestone achievement and a key performance indicator for both organisations.
He commended the SEC for its proactive role in promoting trust and participation in Nigeria’s capital market, noting that the collaboration would have far-reaching benefits for the nation.
“It is important to catch them young,” he said, referring to corps members. “By instilling the right financial habits at this stage, we can prevent them from falling prey to Ponzi schemes and other fraudulent ventures.”
He assured that the NYSC would remain fully committed to implementing the agreement, adding that the execution phase would be carried out diligently to ensure maximum impact on Nigerian society.
The initiative comes at a time when Nigeria continues to grapple with the proliferation of Ponzi schemes and unregulated investment platforms, many of which have resulted in significant financial losses for unsuspecting citizens.
News2 days agoAfrican Tech Start-ups to Receive $46m of Speedinvest Africa Fund
Telecom2 days agoCourt Bans Kenyan Telcos from Recycling SIM Cards
E-Financial2 days agoProvidus Bank Fully Meets CBN Capital Requirement, Sets Record Straight
E-Financial2 days agoUBA UK, BII Sign Letter of Intent to Slash Africa’s $80Bn Trade Finance Gap
Telecom2 days agoBinance Earn: Simple Way to Earn Rewards on Idle Crypto Holdings
News2 days agoUK, Nigeria Unveil Three-Year Plan to Combat Immigration Crime
News2 days agoU.S. Charges Three in $2.5 Billion Plot to Smuggle Nvidia AI Chips to China
General News2 days agoCourt Jails ‘Colonel’, ‘Major’ of Global Money-Laundering Ring













