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Nigerian Tech Expert David Odaibo Dies

David Odaibo

Nigerian Tech Expert David Odaibo Dies Days After Winning $125m U.S Govt Contract

A Nigerian tech expert, Gbodi David Odaibo has reportedly died in his sleep, 7 days after winning a $125 million (approximately N69billion) U.S government contract.

His brother and CEO of Retina-AI Health Incorporation, Mr. Stephen Odaibo narrated how he died in a post shared on LinkedIn.

Stephen said his brother who was fully vaccinated and did not have COVID-19, had a cardiac arrhythmia/heart attack in his sleep and passed on at the age of 42. He revealed that the death has left them devastated.

Before his death, David wrote an algorithm for automatically detecting threats at airports and it won a $125 Million contract from Department of Homeland security, beating out companies backed by billions of dollars.

He wrote; “My brother, David Gbodi Odaibo, passed away yesterday. My heart is broken. He had a cardiac arrhythmia/heart attack in his sleep. He was fully vaccinated and did not have covid. He and I were so close. He was only 42.

“David was kind, gentle, brilliant, and humble.

“He had a PhD in Computer Engineering and was a Kaggle Grandmaster, the highest attainable skill level in practical Machine Learning. He introduced me to AI.

“The algorithm he wrote for automatically detecting threats at Airports just won a $125 Million contract from Department of Homeland security about 1 wk ago. His code beat out companies backed by Billions of dollars. So in the future when you safely fly the skies, please remember my brother David.

“Our hearts are broken. My poor parents, his wife and two young children. His 4 siblings. We are devastated.

“David and I were tremendously aligned in our interests and would often talk for hours. Our connection was rare and precious. We ended phone conversations with “love you.”

“Hug your loved ones and tell them you love them.

“Though there may be sorrow in the night, joy comes in the morning. I’m comforted that David is with our Lord and Savior Jesus Christ.”

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Business

New Naira Notes Ready For Issuance- CBN

Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has said the newly redesigned Naira notes are already in banks and ready for issuance.

In a statement on its official twitter handle, the CBN quoted Emefiele to have made the disclosure in Daura, Katsina State, while on a visit to brief the president on the Naira redesign and the recently reintroduced cashless policy.

“The newly redesigned N200, N500, and N1,000 banknotes are now in banks and ready for issuance to members of the public,” the statement said.

The CBN governor clarified that the currency redesign and reintroduced cashless policies were not targeted at anybody but were for the good and development of the Nigerian economy, and urged Nigerians to embrace the various electronic channels available for banking and financial service transactions in Nigeria.

Emefiele further said the CBN deferred the cashless policy severally to prepare and deepen Nigeria’s payments system infrastructure.

He, therefore, advised Nigerians to take their old N200, N500, and N1,000 banknotes to the banks before the January 31, 2023 deadline.

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Business

NIBSS Says e-Payment Transactions Hit N38.9trn In November

The Nigeria Inter-Bank Settlement Systems (NIBSS) has revealed that transactions worth N38.9 trillion were performed electronically in November through the NIBSS Instant Payment platform (NIP).

This is the highest monthly transaction record on the platform.

Compared with the N34.5 trillion recorded in the preceding month, the November figure also shows a 12.7 per cent increase.

The latest data also shows that the November figure brought the total value of NIP deals in the last 11 months to N345 trillion.

Year on year, the e-payment value increased by 50 per cent compared with the N25.9 trillion recorded in November last year.

The value of the e-payment recorded was a reflection of the increase in the volume of deals within the month. The NIP volume rose to 492.2 million in November, showing a 53.8 per cent increase over the N319.9 million recorded in the same period last year.

The NIP is an account-number-based, online-real-time Inter-Bank payment solution developed in the year 2011 by NIBSS. It is the Nigerian financial industry’s preferred funds transfer platform that guarantees instant value to the beneficiary.

According to NIBSS, over the years, Nigerian banks have exposed NIP through their various channels, that is, internet banking, bank branch, Kiosks, mobile apps, Unstructured Supplementary Service Data (USSD), POS, ATMs, etc. to their customers.

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Business

CBN Insists It Won’t Reverse New Withdrawal Policy

Godwin Emefiele, Governor of the Central Bank, says there would be no reversal on the new cash withdrawal policy adding that the limitations was not intended to hurt anyone.

He disclosed this on Thursday following his visit to President Muhammadu Buhari in Daura, Katsina State.

The National Assembly had earlier faulted the CBN’s unveiling of revised cash withdrawal limits with a maximum of N100,000 for individuals and N500,000 for companies, claiming that it might worsen the current economic situation.

But while reacting to the objections from the National Assembly and the public outcry over the cash withdrawal policy, Emefiele said;

“And we think Nigeria, as the biggest economy in Africa, needs to leapfrog into the cashless economy.

“We cannot continue to allow a situation where over 85 per cent of the cash that is in circulation is outside the bank.

“More and more countries that are embracing digitisation have gone cashless,” he said.

He added that there would be no rigidity on the policy and no reversal, appealing to Nigerians to embrace the new policy.

According to the Governor of the CBN, the new naira notes have already been disbursed to the various commercial banks and expects that the banks would begin distribution to the public.

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