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First Bank in Trouble over Alleged Breach of Contract

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First Bank Plc is to be sued for disobedience and breach of contract if it failed to obey the Federal High Court’s 48 hours ultimatum served to to it.

First Bank in Trouble over Alleged Breach of Contract

In a letter to the bank by A.A. Ibrahim SAN, counsel to Eleme Petro Chemical Co-operative Investment and Credit society Limited, it stated the position of the law as it pertains to obligations of a Bank to its customers, citing the case of Union Bank PLC vs N.M Okpara Chimaeze (2014) 9 NWLR (PT.1411) page 166 wherein Justice Ariwoola JSC. held that

It stated, “It is the duty of banker to its customer to honor and pay cheques drawn on it by the customer as long as it has in its possession at the material time sufficient and available funds for the purpose….”

The barrister told the bank that a pending appeal does not operate as stay of execution, saying that anything done contrary to the lawful order of a court is an infrigement of the customers right.

Recall that First Bank despite the order of Justice N.E Maha of the Federal High Court Abuja delivered on the 15th day of February 2021, vacating the interim restriction placed on the co-operatives’ account by EFCC, has refused and or neglected to obey the order.

Recall also that in February 26, 2009, the Federal Government through the National Council on Privatization had approved the sale of 10% of its equity shares in Indorama Eleme Petrochemicals ltd, Port Harcourt, Rivers State to the host community and interested staff of Indorama Eleme Petrochemicals ltd.

The 10% equity shares was shared as 7.5% to the host community while the remaining 2.5% was allotted to the Staff of Indoroma Eleme Petrochemicals.

Interested Staff came together under Eleme petrochemical co-operatives in compliance to the federal government directive that a special purpose vehicle be formed where all members will belong to enable them buy the shares.

According to the letter, problem began in 2013 when 10 staffs who initially subscribed to the purchase of the 2.5 equity shares had their jobs terminated from the employment of Indorama Eleme Petrochemicals.

It explained that lndoroma Petrochemicals since then began a legal battle as to whether the laid off staff can continue to enjoy the dividends since they were not longer staff in the company and in so doing sought to replace the laid off staff with new recruited staff.

It noted that when the shareholding became an issue the laid of staff approached the River State Ministry of Commerce and Industry to arbitrate between it and the cooperative, the Ministry gave an Arbitral Award in favor of the laid off staff and consequently the laid off staffs of the co-operative, approached the federal high court to enforce the arbitral award as required by law. The award became a judgment of the Federal High Court.

The newly recruited staff been instigated by their employers Indoroma Eleme Petrochemicals Company limited approached The National Industrial court stating that the arbitral award was illegally procured ,when the right thing to do was to have appealed the Federal High Court judgement, the industrial court in striking the case out stated that it can not sit on an appeal over a matter that has been decided by a court of co-ordinate jurisdiction. The newly recruited staff thereafter filed an Appeal over the decision of the Industrial court.

It is to be noted that the EFCC started to investigate the ownership of the shares of the cooperative after the cases at the Federal high court and the Industrial Court had been decided.

The cases pending in various courts over the ownership of the shares of Indorama was triggered by the BPE which was a party sued in the case at the Industrial court, when it petitioned the EFCC over the matter at the instigation of the newly recruited staff of Indorama and Indorama itself. We shall bring you further developments as they unfold.

 

 

 

 


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Microsoft Expands Africa AI Push while DeepSeek Gains Users

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Microsoft is stepping up its push to expand artificial-intelligence adoption across Africa as competition intensifies with Chinas DeepSeek for influence in one of the worlds youngest and fastest-growing digital markets.

Microsoft Expands Africa AI Push while DeepSeek Gains Users

The company plans to train 3 million Africans on its AI technologies this year through partnerships with schools, universities and other institutions, with a focus on South Africa, Kenya, Nigeria and Morocco.

The effort reflects Microsofts broader attempt to accelerate adoption of its AI ecosystem across emerging markets where developers and enterprises are increasingly experimenting with generative AI tools.

Alongside the training initiative, Microsoft is working with MTN Group (MTNOY), Africas largest telecommunications company, to distribute Microsoft 365 and its Copilot digital assistant to about 300 million subscribers.

The Elevate program is designed to expand AI literacy and reduce cost barriers that might otherwise limit adoption, according to regional leadership.

The push comes as Chinese technology firms expand their footprint across the continent, with DeepSeeks open-source models accounting for roughly 11% to 14% of chatbot use in several African markets and reaching about 20% in countries such as Ethiopia and Zimbabwe following investments tied to digital infrastructure and telecom networks.

Microsoft is also increasing its infrastructure investment in the region.

In South Africa, the company plans to invest 5.4 billion rand, or about $330 million, to expand its cloud and AI capacity by the end of next year, while it is also exploring plans for a geothermal-powered data center in Kenya.

Early corporate adoption is emerging across the continent, with South African grocer Spar Group using Copilot in ways that save more than 700 employee hours annually and Nigerias Access Holdings integrating AI into daily workflows.

Regional leadership has suggested broader AI adoption could potentially contribute up to $1.5 trillion to Africas gross domestic product by 2030 if governments and businesses continue investing in digital infrastructure and AI skills.

 


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Kaspersky Uncovers a New Android Malware Campaign Disguised as Starlink Application

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Kaspersky Global Research and Analysis Team (GReAT) has uncovered a new Android malware campaign in which cybercriminals distributed the BeatBanker Trojan under the guise of the Starlink application for Android.

Threat actors primarily target users from Brazil; nevertheless, Kaspersky experts don’t rule out that users from other countries may also face this threat.

The Trojan employs a Monero cryptocurrency miner and additionally installs a BTMOB remote administration tool (RAT) on the infected devices. To maintain its persistence, BeatBanker uses an uncommon mechanism involving a nearly inaudible looped audio file.

“At first we saw BeatBanker being distributed under the guise of a public services app; it installed a banking Trojan in addition to a cryptocurrency miner. However, our recent detection efforts uncovered a new campaign with another BeatBanker variant that deploys the BTMOB RAT instead of the banker module.

The attackers appear to be using a fresh lure with the Starlink app to reach more victims from different countries. Therefore, it is important for users to stay vigilant and use advanced solutions to protect their smartphones,” comments Fabio Assolini, Head of the Americas & Europe units at Kaspersky GReAT.

Initial vector of infection

Kaspersky experts believe that cybercriminals distribute a fake Starlink application containing the BeatBanker Trojan through phishing pages that mimic the Google Play Store. After execution on a compromised device, the Trojan displays a user interface that also mimics Google Play. Cybercriminals trick victims into granting installation permissions, thus allowing the download of additional hidden malicious payloads.

Crypto mining and BTMOB RAT module

When a user clicks UPDATE on the fake Google Play page, a Monero cryptocurrency miner deploys. BeatBanker monitors battery percentage and the temperature of an infected smartphone, as well as user activity after which a hidden cryptocurrency miner is started or stopped.

The Android Trojan also installs a BTMOB RAT on the compromised device. BTMOB enables full remote control and is sold as Malware-as-a-Service.

It is capable of automatic granting of permissions, hide system notifications and has mechanisms designed to capture screen lock credentials, including PINs, patterns and passwords on compromised devices. The malware also gives cybercriminals access to the front and rear cameras, GPS location monitoring and constant collection of sensitive data.

To ensure persistence and hinder uninstallation, BeatBanker maintains a fixed notification in the foreground and activates a foreground service with silent media playback. This tactic is designed to prevent the operating system from removing the malicious process.

Kaspersky’s products detect this threat as HEUR:Trojan-Dropper.AndroidOS.BeatBanker and HEUR:Trojan-Dropper.AndroidOS.Banker.*.

 


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How Africa Can Turn the AI Wave into Inclusive Growth

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                                                                                        By Shameel Joosub

For centuries, Africa has powered global economic growth through its resources, labour, and human potential, yet too little of that prosperity has been realised on the continent itself. Today, artificial intelligence presents a rare opportunity to change that trajectory.

How Africa Can Turn the AI Wave into Inclusive Growth

As the global economic order undergoes its most significant transformation since the end of the Second World War, Africa stands at a decisive inflection point.

With the world’s youngest population, rapidly expanding digital adoption, and vast untapped potential, Africa is uniquely positioned not just to participate in the AI era, but to help shape it.

Realising this opportunity, however, will require deliberate investment, enabling regulation, and a commitment to ensuring that the benefits of AI reach all 1.5 billion people across the continent.

When I reflect on AI, what strikes me most is that it is enabled by humanity.

Intelligence is fundamentally human, and AI is an extraordinary amplifier of human creativity and capability.

It is not about replacing people. It is about empowering them to do more, faster, and better.

While this progress is remarkable, our responsibility as African businesses is to extend these capabilities beyond our corporate walls so that AI can unlock Africa’s underutilised potential and drive inclusive growth.

Unlocking Africa’s Potential Across Industries

As a purpose-led African connectivity and digital services company serving 223.2 million customers across South Africa, the DRC, Egypt, Ethiopia, Kenya, Lesotho, Mozambique, and Tanzania, Vodacom has invested strategically in AI across multiple sectors.

Our mobile networks reach a population of 588 million people. That reach must translate into opportunity.

Consider agriculture. One of our subsidiary companies, Mezzanine, leverages AI to unlock previously invisible insights into soil composition, empowering farmers to make data-driven decisions that improve crop yields and profitability.

When farmers thrive, food security strengthens and rural communities prosper. That is inclusive growth in action.

In financial services, AI is strengthening trust and security. In Kenya, Graph Network Analytics enhances M-Pesa fraud detection by mapping money movements in real time, helping protect more than 37 million customers who rely on the service in their daily lives.

As criminals target digital payment platforms, AI helps predict and prevent fraud scenarios, including SIM swap fraud and identity theft.

AI is also supporting national infrastructure. In South Africa, connectivity and IoT solutions monitor coal transport in real time from pit to port to power station.

This improves operational efficiency and supports energy security, addressing critical infrastructure challenges that have constrained economic growth.

These are not isolated examples. They represent a broader truth. Technology delivers its greatest value when it solves real problems for real people.

The Infrastructure Imperative: Modernising Regulation

Yet none of this is possible without one fundamental prerequisite: connectivity. Connectivity requires sustained investment in infrastructure, supportive policy environments, and regulatory frameworks that enable innovation.

If Africa is serious about universal access, modern and enabling regulation is essential. Spectrum licensing must be efficient and predictable. Infrastructure sharing must be supported. Universal service funds must be effectively deployed. Administrative barriers to infrastructure rollout must be reduced. Cloud and data platforms, which power AI capabilities, must be supported through enabling policy environments. These are not peripheral issues. They are fundamental to accelerating Africa’s digital and economic transformation.

These challenges represent only a portion of the regulatory barriers that must be addressed to deliver affordable, reliable connectivity to all Africans.

Pan-African Coordination: Our Collective Responsibility

Africa’s greatest advantage is its youth, but demographics alone will not deliver growth. To realise this potential, we must actively skill up young people in our schools and universities so they can take full advantage of an AI-driven future.

That requires modernising education curricula to embed AI literacy, data capability and practical problem-solving at scale. Companies like Vodacom are investing in digital skills development, but unlocking Africa’s potential will require coordinated action across government, academia and industry.

This is why governments and intergovernmental institutions such as the African Development Bank Group, the African Union, SADC, ECOWAS, and other regional bodies play a critical role in harmonising regulatory frameworks across the continent. Greater coordination can accelerate investment, enable scale, and support the development of an integrated digital economy.

Pan-African alignment of telecommunications regulation is not merely a technical objective. It is essential to unlocking inclusive growth and ensuring that Africa can compete effectively in the global digital economy.

Our Moment

Africa has long contributed to global progress. In the AI era, it has the opportunity to define its own future as a creator of innovation, productivity, and inclusive growth. The foundations are already in place. Our young population, expanding connectivity, and accelerating digital adoption position the continent to lead in ways that were not previously possible.

But this outcome is not guaranteed. It depends on the choices we make now. By modernising regulation, investing in connectivity as foundational infrastructure, and ensuring that AI empowers individuals, businesses, and communities, Africa can secure its place as a central force in the global digital economy.

 

That is the Africa I believe in. That is the Africa we are building at Vodacom, connecting people, enabling opportunity, and ensuring that technology serves the progress of society as a whole

 

Shameel Joosub, is group Chief Executive Officer, Vodacom Group

 

Source: Tech Africa News


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