Business
Flutterwave debunks losing N2.9bn to hackers
African fintech unicorn Flutterwave has denied losing the sum of ₦2,949,557,867 to hackers.
It was earlier reported on Sunday that hackers stole the sum of ₦2,949,557,867, from the accounts of the company and over 300 customers were affected by the fraudulent act.
Meanwhile, the company disclosed nothing of such happened, on Sunday.
The company said, “We want to reassure you that Flutterwave has not been hacked. As a financial institution, we monitor transactions through our transaction monitoring systems and 24-hour fraud desk and review any suspicious activity. We collaborate with other financial institutions and law enforcement agencies to keep our ecosystem safe and secure.”
It further disclosed that none of its customers lost funds nor was the company account hacked.
“During a routine check of our transaction monitoring system, we identified an unusual trend of transactions on some users’ profiles. Our team immediately launched a review (in line with our standard operating procedure), which revealed that some users who had not activated some of our recommended security settings might have been susceptible.”
“We want to confirm that no user lost any funds, and we take pride in the fact that our security measures were able to address the issue before any harm could be done to our users. We want to reassure you that Flutterwave has not been hacked.” Flutterwave said.
However, the the tech giant’s counsel, Albert Onimole, had notified the case to the Deputy Commissioner of Police, State Criminal Intelligence Department, Panti, Yaba.
According to Onimole’s letter, the hack on Flutterwave’s accounts occurred about some weeks ago revealing that the said sum was initially transferred to 28 accounts in 63 transactions.
Although the accounts that received the money were listed, the police are yet to freeze the receiving accounts to prevent the money being moved.
According to Flutterwave, some commercial banks allowed the money to be moved to other accounts, widening the money trail.
Business
Governor Abdulrazaq approves bonus for Kwara workers to ease economic burden
Kwara State Governor Abdulrahman Abdulrazaq has approved a financial bonus that is equivalent to the monthly PAYE obligation for every civil servant in the state, including local government workers.
The emergency support measure will last for at least three months, according to a statement by the Commissioner for Finance Dr. Hauwa Nuru.
“This bonus has been approved as a buffer to bridge the gap that the correct PAYE deduction may have wrought on the newly implemented mininum wage. It is meant to serve as a soothing balm as workers adjust to the PAYE that was just correctly implemented in line with the Personal Income Tax Act,” she said.
“The payment of the bonus is effective from October and will run till December 2024. This is a significant step by His Excellency to support workers.”
The statement added that workers who have not registered with the Kwara State Residents’ Registration Agency (KWSRRA) should do so immediately because anyone without it will not get the bonus for November and December.
The statement said labour unions have also agreed to a refund of the special levy deducted from workers’ salary and suspension of deductions of same until further notice.
“Governor AbdulRazaq’s directive to deliver this relief speaks volumes about his humanity and his commitment to the welfare of Kwara workforce,” Dr. Nuru stated.
Business
Lagos state government to divert traffic on Mile 2 for 15 months over interchange construction
The Lagos state government has announced the diversion of traffic in the Mile 2 area to allow for the construction of a transport interchange.
In a statement on Monday, Oluwaseun Osiyemi, the commissioner for transportation in Lagos, said the diversion will commence on November 11 and last for fifteen months.
The commissioner said the transport interchange terminal will integrate rail, bus, water and non–motorised transportation.
“The Lagos state government has announced that traffic will be diverted at Loop 1 on the Apapa bound lane and Loop 4 on the Badagry bound lane at Mile 2 for a duration of 15 months for the construction work of the Transport Interchange Terminal that will integrate Rail, Bus, Water and Non–Motorised Transportation,” the commissioner said.
“The commencement date for the construction is scheduled from Monday, 11th November, 2024, to Monday, 16th February 2026. Consequently, Motorists are hereby enjoined to use alternative routes as follows:
“Motorists heading to Oshodi from Apapa will have through traffic and vice versa.
“Motorists heading to Badagry from Apapa will continue their journey on the Apapa-Oshodi expressway and take a turn into Akinwande Road to link Coker and access the Lagos-Badagry Expressway to continue their journeys.
“Motorists heading to Lagos from Badagry will also have through traffic and vice versa.
“Motorists heading to Apapa will be diverted into Durban Road to link Amuwo Odofin Estate and connect Apapa-Oshodi Expressway to continue their journeys.”
Osiyemi assured motorists that officers of the Lagos State Traffic Management Authority (LASTMA) will oversee traffic flow.
Business
FG releases funds for NASU salaries, retirees’ benefits
The Federal Government has released funds to settle outstanding salaries owed to members of the Non-Academic Staff Union of Federal Universities and pay benefits to retirees under the Nigerian Union of Pensioners Contributory Pension Scheme.
In a statement on Saturday by Bawa Mokwa, Director, Press and Public Relations, the Office of the Accountant-General of the Federation confirmed that payments to NASU members have commenced, with many already confirming receipt.
The statement read, “The Federal Government has released funds for payment of withheld salary of Non-Academic Staff Union of Federal Universities.
“According to the OAGF, the Federal Government has also released funds for payment of benefits to retirees under the Nigerian Union of Pensioners Contributory Pension Scheme Sector.
“The OAGF said payments to the Non-Academic Staff of Federal Universities had commenced and many have confirmed receipt.”
The OAGF reaffirmed the Federal Government’s commitment to the welfare of Nigerian workers and retirees.
On Monday, the Joint Action Committee of SSANU and NASU embarked on an indefinite strike over its four months of withheld salary.
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