According to a Fraud and Counterfeits (FITC) report, more bank employees in Nigeria are using their access to defraud customers.
The Central Bank of Nigeria (CBN), the Nigerian Deposit Insurance Corporation (NDIC) and all licensed banks in Nigeria are members of the FITC.
The report, which looked at fraudulent activities at Nigerian banks between April and June 2022, revealed that 19 bank employees were laid off.
According to FITC, the number of bank employees fired for fraud increased by 90% in the second quarter of 2022, compared to 10 in the first quarter of 2022.
With a total of ₦1.17 billion (2.53 million) lost to fraud at 24 banks in Nigeria in the second quarter of 2022, 73 bank employees were reported to have been involved in the activities, an increase of 27.6% with compared to 60 in the first quarter of 2022. the year.
This is what I have for you today:
- Lessons from Titi Fakuade
- Who will be the next unicorn in Africa in 2023?
- Microsoft is rolling out the Azure OpenAI service globally
Lessons from Titi Fakuade
Without a doubt, Titi Fakuade has paid her dues in the African tech industry. With more than 20 years of experience as a telecommunications expert, she has held technical and leadership positions in local and international companies.
He started his career in 2001 with Resourcery limited, a leading ICT company in Victoria Island, for close to five years working on PABXs, which are small telecommunication systems, but mainly for small businesses, corporate businesses and the like.
Currently, Titi is the Director of Technology and Information of MTN Benin.
Prior to his current role, he spent more than 13 years at MTN Nigeria, managing Smart Grids and Value Added Services, and almost four years at Lonestar Cell, Liberia, a subsidiary of MTN Group.
Her experience and insights have earned her recognition as an award-winning author and technology expert.
To inspire others, he journaled his recipes for growth, experiences, and productivity in a book titled Limitless: 11 Strategies for Mastering Life and Career.
In this episode of Expert and AfricanOluwanifemi dives into her journey, her thoughts on being a woman in a male-dominated field, and her advice for young people aspiring to succeed and pursue career growth in the tech industry.
You can read it here: Lessons from Titi Fakuade, the engineer who has left his mark on MTN since 2006
Who will be the next unicorn in Africa in 2023?
According to data research firm, Briter Bridges, African fintechs raised more than $2 billion, 38% of the $5.4 billion African startups raised in 2022. This number also includes undisclosed deals from fintechs. that Briter is aware.
Although fintechs still secured the bulk of the funding, it was far less than the $3 billion (62% of total funding for the year) raised in the big boom of 2021.
But how was the fintech space fair in 2022?
“No one knew what 2022 was going to be like, right? That literally just took out a lot of the predictions that we made. Well, you know, it was for fun to begin with. Educated assumptions,” says Adedeji Olowe, CEO of Lendsqr and trustee of Open Banking Nigeria.
In keeping with what seems to be an annual tradition, Emmanuel invited Olowe to look back at the Nigerian fintech space in 2022 and point out certain things to look forward to in the new year.
For example, in 2022, Nigeria experienced a currency crisis, and Nigerians were unable to pay for international transactions with their bank accounts. He explained why the CBN imposed such restrictions.
Among other things, he discussed why Africa did not mint any unicorns in 2022.
Watch this video to learn Olowe’s answers to these and other questions: Who will be Africa’s next unicorn in 2023?
You can also read it here: What if you could predict the future of Nigerian fintech in 2023?
Microsoft is rolling out the Azure OpenAI service globally
This week, Microsoft is rolling out its Azure OpenAI service, which allows companies to integrate OpenAI products, including ChatGPT, into their cloud-based applications.
Previously, some customers used Azure OpenAI Service. But the tech giant has announced the “general availability” of the service.
Azure OpenAI Service gives Microsoft cloud customers access to various OpenAI tools, including the DALL-E model for generating images from text prompts.
Developers could use Azure OpenAI to develop applications that use AI for support tickets or content matching to improve search results in online stores.
According to Microsoft CEO Satya Nadella, “Every Microsoft product will have some of the same AI capabilities to completely transform the product. You need tools like ChatGPT to increase productivity. We need something that really changes the productivity curve to that we can have economic growth.”
Sidebar: Recall that Microsoft reportedly plans to integrate OpenAI’s ChatGPT chatbot into its Bing search engine to steer users away from rival Google by March 2023.
In case you missed it
What I’m reading and watching
- If you are a product designer and researcher looking for (remote) jobs and internships in the US and Canada, check this out.
- If you’re a software engineer, creative designer, product manager, design researcher, or techie looking for an internship position, check out this website.
- Check out various design internship positions in the United States here.
- US based company, Outliant, is looking for a Full Content Developer to work remotely with them. Apply here.
- If you’re a student, you can now apply for the 2023 Rice Business Plan Contest for Student Startups. To apply, check this out.
Have a beautiful Wednesday.
victoria fakiya for Techpoint Africa.