Business
Oppo launches slim $1,870 folding phone to rival Samsung, Huawei
When it’s folded shut, the Find N5 looks like a normal bar-shaped phone with a 6.62-inch display
Chinese smartphone firm Oppo has unveiled its new flagship folding phone Thursday, touting a slimmer body and artificial intelligence-focused features in a bid to compete with high-end foldable devices from the likes of Samsung and Huawei.
CNBC reports that the company’s Find N5 phone that can fold in half, will retail at a starting price of 2,499 Singapore dollars ($1,867.70).
When it’s folded shut, the Find N5 looks like a normal bar-shaped phone with a 6.62-inch display.
The device can then be folded outward to show a larger, 8.12-inch tablet. Most notably, the phone has an ultra-thin design.
When closed, it measures 8.93 millimeters thick, while when opened out in tablet form, the Find N5 has a depth of 4.21 millimeters.
That’s slimmer than Samsung’s Galaxy Fold 6, which the South Korean tech giant released last year. Inside the device is a razer-thin 5,600 milliampere-hour (mAh) battery that’s no bigger than a credit card.
Oppo said the battery incorporates a silicon-carbon material, which enables high battery capacity despite its small size.
Oppo is hoping it can win business from the likes of Samsung and Chinese tech giant Huawei, both major smartphone players seeking to shake the market out of an innovation slowdown with flashy new models that can bend.
Earlier this week, Huawei launched the Mate XT, a “trifold” phone with three screens, outside of China for the first time.
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.
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.
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.
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.
• 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.
Business
Naira Exchange Rates Friday, August 21
BLACK MARKET RATES
US Dollar (USD) Buy ₦1,405 Sell ₦1,410
Great British Pound(GBP) Buy ₦1,890 Sell: ₦1,915
EURO (EUR) Buy ₦1,590 Sell ₦1,610
Canadian Dollar (CAD) Buy ₦1,020 Sell ₦1,080
South African Rand (ZAR) Buy ₦75 Sell ₦90Ghana CEDI (GHS) Buy ₦95 Sell ₦110
West African CFA Buy ₦2, 300 Sell ₦2, 400
CENTRAL AFRICAN CFA Buy ₦2,150 Sell 2,250
CBN Exchange Rates
US Dollar (USD) ₦1,374.63
Great British Pound (GBP) ₦1,838.70
EURO (EUR) ₦1,574.97
Swiss Franc (CHF) ₦1,687.70
Chinese Yuan (CNY) ₦200.42
Japanese Yen (Yen) ₦8.49
West African CFA (XOF) ₦2.37
West African Unit Account (WAUA) ₦1,848.41
Saudi Riyal (SAR) ₦358.91
South African Rand (ZAR) ₦83.35
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