Connect with us

News

COVID-19: NIRSAL Receives 80,000 Applications for N50Bn CBN Stimulus Package

Published

on

Kindly share this post

Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL), has received 80,000 applications on the N50 billion Targeted Credit Facility (TCF) released by the Central Bank of Nigeria (CBN), according to Abubakar Kure, managing director of NIRSAL.

COVID-19: NIRSAL Receives 80,000 Applications for N50Bn CBN Stimulus Package

Mr. Godwin Emefiele, CBN governor

Kure, at a news conference in Abuja, said out of the number, 40,000 of the applicants that applied for the facility were households

The CBN had in March announced the release of N50 billion TCF stimulus package to support households and Micro Small and Medium Enterprises (MSMEs) affected by COVID-19 pandemic.

According to Kure, the objective of the facility was to allow firms stay in business and ensure people stayed employed to mitigate the harm on the economy.

He said the disbursement of the fund would commence next week.

“The issue of business plan was a requirement for MSMEs applications as stipulated by CBN guideline.

“At the start of the process, business plans which NIRSAL received from loan applicants were highly substandard and to ensure high standard and efficient processing, an optional, automated business plan was provided by a service provider at a highly discounted fee.

“This is to avoid applicants being charged excessively by other consultants and to help people during the stay at home period and to make the application process easy.

“We got a third party service provider to enable applicants to access the business plan through the internet,” he said.

The managing director said the management of the bank had later resolved that the business plan was no longer a mandatory requirement and the third party provision of a business plan was also not compulsory.

He assured that Nigerians were adhering to the guidelines as laid down by CBN and NIRSAL micro finance bank.

Kure said the bank would still welcome applications from credible businesses and households affected with COVID-19 with a view to mitigating the effects.

 


Kindly share this post

Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

News

FDA Okays Elon Musk’s ‘Blindsight’ Brain Chip to Restore Vision for the Blind

Published

on

Kindly share this post

Neuralink, the brain-chip company co-founded by Elon Musk, has achieved a significant milestone with its latest device, “Blindsight,” receiving the U.S. Food and Drug Administration’s (FDA) breakthrough designation.

FDA Okays Elon Musk’s ‘Blindsight’ Brain Chip to Restore Vision for the Blind

This recognition highlights the potential of Blindsight to restore vision to individuals suffering from complete or partial blindness, including those with damaged optic nerves.

Blindsight is designed to help even those who have been blind since birth, provided their visual cortex remains functional.

Initially, the device is expected to offer low-resolution vision, but over time, it holds the potential for users to perceive advanced wavelengths like infrared and ultraviolet, offering possibilities beyond natural sight.

Neuralink, established in 2016, is pioneering brain-computer interfaces aimed at addressing neurological disorders. Its technology includes brain implants capable of reading neural signals and wirelessly transmitting them to external devices.

The company is also working on devices to assist paralyzed individuals in controlling digital tools using their thoughts.

Recent developments include the successful implantation of Neuralink’s brain-computer interface in a second patient, who is now able to control video games and design 3D objects using thought alone.

 

 

 


Kindly share this post
Continue Reading

News

Nigeria’s Mpox Cases Mostly Affect Children, Men – NCDC

Published

on

Kindly share this post

Mpox infections are disproportionately affecting children and males in Nigeria, according to recent data from the Nigeria Centre for Disease Control and Prevention (NCDC).

Nigeria’s Mpox Cases Mostly Affect Children, Men – NCDC

Pix Credit: Sky News

Since January 2024, males have accounted for 67% of Mpox cases, with men making up approximately 70% of the 6,001 suspected and confirmed cases recorded since September 2017.

The disease is spreading rapidly, with 1,031 suspected cases reported across 47 local government areas in 23 states and the Federal Capital Territory.

Children under five years old are among the most affected, followed by the 26-30 and 46-50 age groups.

Mpox is an infectious disease caused by the monkeypox virus, characterized by a painful rash, swollen lymph nodes, and fever. While most people recover fully, some may become seriously ill.

The disease can spread from animals to humans and between humans through close contact, respiratory droplets, and contaminated objects.

To combat the outbreak, Nigeria has received a donation of 10,000 doses of Jynneos, a Mpox vaccine, from the United States government.

 


Kindly share this post
Continue Reading

News

Avanti Communications, IHS Nigeria Recognized with Universal Broadband Award for Connecting Rural Nigeria

Published

on

Kindly share this post

Global multi-orbit satellite provider, Avanti Communications (“Avanti”), and IHS Nigeria, part of the IHS Holding Limited (NYSE: IHS) (“IHS Towers”)  group, have been recognized for their work in connecting rural Nigeria at the 2024 World Space Business Awards.

Each year at World Space Business Week, Novaspace, a merger of Euroconsult and SpaceTec Partners, award the most forward-thinking businesses and innovations contributing to the future of the global space sector.

The Universal Broadband Award recognizes those committed to helping transform the lives of underserved communities.

Together, Avanti and IHS Nigeria have been helping improve the connectivity landscape across Nigeria, bringing broadband connectivity to rural communities nationwide, where the cost of traditional telecommunications networks can leave millions behind.

IHS Nigeria already has a strong footprint in Nigeria, operating over 16,000 towers across the country.

To help extend this reach, Avanti has been supplying the physical, transport and network layer for the transmission of cellular backhaul traffic to and from cellular towers, back to the core network of mobile network operators.

The partnership has delivered fast, cost-effective and reliable 3G and 4G connectivity to 700 rural sites across Nigeria, directly benefitting more than 3.5 million people.

Mohamad Darwish, CEO, IHS Nigeria, said, “We are deeply honored to receive this award, recognizing our commitment to innovation and social responsibility in expanding global connectivity.

As one of the largest independent tower companies globally, IHS Towers is dedicated to helping bridge the digital divide, particularly in Nigeria, where we operate more than 16,000 towers.

IHS Nigeria’s partnership with Avanti Communications has been pivotal in bringing broadband connectivity as well as delivering sustainable, reliable, and cost-effective solutions to rural areas. Together, we are striving to help transform lives by enabling digital inclusion, job creation, and driving socio-economic development across underserved and unserved communities.”

Kyle Whitehill, CEO at Avanti, said, “The mission to provide cost-effective, reliable, and sustainable internet solutions is more than a professional endeavour; it is a mission we each carry personally at Avanti. Access to the internet is not a luxury, it is a necessity.

“It opens doors to education, healthcare, economic opportunities, and global connectivity. For too long, the remote and hard-to-reach regions of Africa have been left in the dark, disconnected from the boundless potential connectivity brings.”


Kindly share this post
Continue Reading

Trending