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NIA Receives N4.87bn For Phone Monitoring Technology
The National Assembly has approved the first payment of N4.87 billion budgeted by the National Intelligence Agency (NIA) to acquire phone monitoring technology. The NIA’s budget is part of a supplementary budget in the total sum of N895.8 billion that was first submitted to the chambers by the President, Major General Muhammadu Buhari (retd.) last…
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FORT Robotics Raises $13M Funding For New Safety Software
FORT Robotics recently closed on $13 million in funding for its new safety software for collaborative robotics and other autonomous systems. The round led by Prime Movers Lab, also featured Prologis Ventures, Quiet Capital, Lemnos Labs, Creative Ventures, Ahoy Capital, Compound, FundersClub and Mark Cuban. Founded in 2018 by Samuel Reeves, who previously headed Humanistic…
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Nigerian Startup Raises $170 Million To Connect African Fintech
Flutterwave has raised $170 million in a Series C round, positioning itself to further connect and capitalize on Africa’s highly fragmented digital payment landscape. The Nigeria tech payment company is now valued at more than $1 billion. The Series C round was led by the US-based investment firms Avenir Growth Capital and Tiger Global Management,…
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Facial Recognition Technology Soon To Become The Future of Banking
A Nigeria-based Access Bank has announced it is set to unveil a new contactless payment technology that leverages facial recognition and AI. The face recognition payment system allows the platform to identify and verify the user without inputting passwords. The recognition system matches the unique facial dimensions of the customer against the BVN image to authenticate the…
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Nigeria Relaunches First Electric Car In Abuja
Stallions Motors has launched Nigeria’s first fully assembled local electric car at an elaborate ceremony at the Sheraton Hotel, Abuja. The Hyundai KONA has an exceptional electric driving range of up to 300 miles, a 64 kWh battery life and a touch screen entertainment system. In attendance at the unveiling were dignitaries like the Minister…
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Ford Set To Build Electric Mustangs In China
The US carmaking company has announced that production of its iconic Mustang Mach-E will start later this year as it looks to tap into China’s electric vehicle (EV) market. Demand for Electric Vehicles in China In 2018, 1.255 million new energy vehicles (plug-in electric vehicles and plug-in hybrids) were sold in China – a 62%…
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Jaguar Land Rover Cars Would Be All Electric by 2025
Chief Executive, Thierry Bolloré has revealed the company will launch electric models of its entire Jaguar and Land Rover line-up by 2030. The firm said it has dropped its earlier plans to build an electric version of its XJ saloon at the Castle Bromwich plant but it would keep all three of its British plants…