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Nigerian Manufacturers Condemn Interest Rate Hike, Warn Of Devastating Impact On Economy

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Nigerian Manufacturers Condemn Interest Rate Hike, Warn Of Devastating Impact On Economy

Nigerian manufacturers have expressed strong opposition to the recent interest rate hike, warning of severe consequences for the manufacturing sector and the country’s economic growth.

The critics argue that the increased interest rate will lead to higher production costs, reduced investment, and decreased competitiveness, ultimately threatening the survival of businesses and the livelihoods of millions of Nigerians.

The manufacturers’ association has urged the government to reconsider the rate hike, citing the need for a more supportive environment to stimulate economic growth and industrial development.

With Nigeria’s economy already facing numerous challenges, the interest rate hike has sparked fears of a further slowdown, job losses, and reduced government revenue. The manufacturers’ concerns highlight the need for a balanced approach to monetary policy, one that considers the impact on key sectors and the broader economy

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The Rising Tide of Cyber Threats: How to Protect Your Personal Devices and Prevent Financial Loss

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The Rising Tide Of Cyber Threats: How To Protect Your Personal Devices And Prevent Financial Loss

In today’s interconnected world, cybercriminals are be-coming increasingly adept at exploiting vulnerabilities in personal devices to extract sensitive information from unsuspecting victims. As hacking attempts grow more sophisticated, experts are sounding the alarm on the importance of adopting robust security measures to safeguard personal devices and prevent devastating financial losses. The alarming rise in cybersecurity breaches has resulted in staggering financial losses, with the International Monetary Fund reporting that losses from cyber incidents have quadrupled since 2017. While the average loss hovers around $0.5 million, severe at-tacks can have catastrophic consequences, costing companies as much as $2.5 billion once every decade.

The sheer scale of these losses reiterates the urgent need for individuals and organizations to prioritize cybersecurity and protect their personal devices from the ever-evolving threats posed by cybercriminals. As the digital landscape continues to shift and vulnerabilities are exploited, it is crucial that we adopt a proactive approach to cybersecurity, rather than simply reacting to threats as they arise. Experts agree that a multi-layered approach to cybersecurity is essential, incorporating robust security measures, regular soft-ware updates, and a healthy dose of skepticism when interacting with online content.

One of the most critical steps in protecting personal devices is to ensure that all software and operating systems are up-to-date. In addition to regular updates, it is essential to adopt robust security measures, such as fire-walls, antivirus software, and encryption. These measures can help to prevent cybercriminals from gaining access to personal de-vices and extracting sensitive information. However, even with robust security measures in place, it is still possible for cybercriminals to exploit vulnerabilities in personal devices. This is why it is crucial to adopt a healthy dose of skepticism when interacting with online content. This includes being cautious when clicking on links or opening attachments from unknown sources, as well as being wary of phishing scams and other types of social engineering attacks.

As the digital landscape continues to evolve and cyber threats become increasingly sophisticated, it is clear that cybersecurity must be a top priority for individuals and organizations alike. By adopting a proactive approach to cybersecurity, incorporating robust security measures, regular software updates, and a healthy dose of skepticism, we can help to prevent devastating financial losses and protect our personal devices from the rising tide of cyber threats.”

Cybersecurity is no longer a luxury, it’s a necessity,” said Beckham Anderson, a leading cybersecurity expert. “As cyber threats continue to evolve, it’s essential that we stay one step ahead by adopting a multi-layered approach to cybersecurity. This includes regular software updates, robust security measures, and a healthy dose of skepticism when interacting with online content. “The rising tide of cyber threats poses a significant risk to individuals and organizations alike. However, by prioritizing cybersecurity and adopting a multi-layered approach to protecting personal devices, we can help to prevent devastating financial losses and safeguard our sensitive information. As the digital landscape continues to evolve, it is crucial that we remain vigilant and proactive in our approach to cybersecurity, ensuring that we are always one step ahead of the cybercriminals.

The Rising Tide of Cyber Threats: How to Protect Your Personal Devices and Prevent Financial Loss - Diaspora Watch newspaper

 

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Nigerian Banks’ Upgrade Chaos: A Call for Customer-Centric Solutions

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Diaspora Watch Newspaper-Vol.20

Diaspora Watch Newspaper-Vol.20

Nigerian banks’ rush to upgrade their core banking systems has caused confusion and frustration for many customers. With banks upgrading to more secure software, the lack of communication and customer support has left millions unable to access their funds, sparking questions about the bank’s commitment to customer welfare.

Dr. Uju Ogubunka, President of Bank Customers Association of Nigeria (BCAN), emphasized the severe impact of these disruptions, stressing the need for better communication and customer preparedness during such transitions. Banks must strike a balance between technological upgrades and customer service to retain trust, especially in an economy facing devaluation pressures.

Read Also:
Oando PLC Makes Historic Acquisition Of Nigerian Agip Oil Company, Reshaping Nigeria’s Oil And Gas Landscape

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Echoes Of Unfulfilled Promises In Nigeria’s Journey

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ICPC Nigeria - Diaspora Watch Newspaper

As Nigeria commemorates its 64th Independence anniversary, the stark contrast between celebration and the persistent challenges of corruption, mismanagement, and unfulfilled promises becomes evident.

The editorial revisits historical attempts at reform, such as the Independent Corrupt Practices Commission’s (ICPC) prosecutions and the House of Representatives’ inquiry into the unfulfilled $14.5 million aircraft repair contract. Many of these initiatives have faded from public memory, leaving questions about accountability unresolved.

High-profile corruption cases, including the Halliburton scandal involving alleged bribes of $180 million, highlight systemic failures within the political landscape.

The editorial emphasizes the need for collective action from citizens, civil society, and the media to demand transparency and accountability. It warns that without addressing these entrenched failures, Nigeria’s path toward democracy and good governance may continue to be fraught with unfulfilled promises.

DWN OCT -7 - 13, 2024_Page_03-Nigerias-Unfulfilled-Promises

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