Business

ACCI calls For Speedy Disbursement of N125bn MSMEs Funding

Published

3 years ago

August 8, 2023

369 Views

Abuja Chamber of Commerce and Industry (ACCI) has requested President Bola Ahmed Tinubu to speed up the implementation of the N125 billion grant for Small and Medium-sized Enterprises (SMEs) to save many businesses that are on the verge of shutting down.

Recall that President Tinubu had in national broadcast last week, announced a N125 billion MSMEs intervention grant as part of efforts to cushion the effect of fuel subsidy removal, out of which it will spend N50 billion on the Conditional Grant to one million nano businesses between now and March 2024.

In a statement, Dr. Al-Mujtaba Abubakar, the president of ACCI, called for the speedy implementation of the intervention fund to the operators in the sector.

He said that the access to the credit facility would boost economic activities as many businesses have shut down and more are on the verge of shutting down due to subsidy removal as they keep struggling to meet up obligations.

He commended President Tinubu for his empathy and determination to turn around the economy and make it competitive and productive.

Business

Cybercriminals cloning DStv, other brands to steal bank accounts across Africa

According to cybersecurity company NordVPN, the campaign distributes Remote Access Trojans (RATs) and banking trojans, forms of malware that can give criminals control over infected devices and access to sensitive information.

Published

2 days ago

August 21, 2026

OCHEFA

26 Views

Cybercriminals are impersonating popular companies and government agencies across Africa in a campaign designed to take over smartphones and bank accounts.

More than 100 fake websites linked to the malware campaign have been identified since August 2025.

Brands including DStv, Takealot and South African Airways, as well as the South African Revenue Service (SARS), are being used to make fraudulent messages and websites appear legitimate.

The attacks are particularly concerning in South Africa, where Android dominates the mobile operating system market.

NordVPN said the attacks typically begin with social engineering, where criminals send convincing messages through SMS, WhatsApp or social media.

The messages may contain urgent offers or requests involving job opportunities, tax refunds, identity renewals or pension verification.

Victims are then directed to fake websites designed to closely resemble the official websites of trusted organisations.

The sites encourage users to download an Android application. Once installed, the malicious software can operate quietly in the background, including after the smartphone is restarted.

Business

Cement price hits N16,000 per bag

The current cement prices mark a steep rise from late 2024, when a bag sold for around N7,500.

Published

2 days ago

August 21, 2026

OCHEFA

32 Views

• Chairman of BUA cement, Abdul Samad Rabiu (ASR)

Cement dealers across Nigeria have announced fresh price increases, with a 50kg bag now selling for as much as N16,000 in some markets, up from N13,000 recorded by buyers just days earlier.

The current cement prices mark a steep rise from late 2024, when a bag sold for around N7,500.

By the third quarter of 2025, that had risen to about N9,000 before reaching the N12,000 to N16,000 range now seen across different locations.

Other building materials have followed a similar upward path. Blocks have climbed from around N600 to N1,100 each.

Sand has gone from N165,000 to N250,000 per 30 tonnes. Granite has risen from N530,000 to N780,000 per 30 tonnes.

Reinforcing steel now costs N1.15 million per tonne, up from N850,000.