Elon Musk’s brain-chip startup, Neuralink, has received the US Food and Drug Administration’s “breakthrough device” designation for the company’s experimental implant, Blindsight.

The device, called ‘Blindsight,’ is designed to restore vision in individuals with complete or partial blindness, including those with non-functional optic nerves.

“We have received Breakthrough Device Designation from the FDA for Blindsight.

“Join us in our quest to bring back sight to those who have lost it. Apply to our Patient Registry and openings on our career page,” Neuralink wrote on its X page on Tuesday.

According to Reuters, the FDA awards its breakthrough designation to medical devices that treat or diagnose life-threatening conditions, expediting their development and review.

Musk also announced the update on his X social media platform, highlighting Blindsight’s potential to restore vision in even the most severe blindness cases.

“The Blindsight device from Neuralink will enable even those who have lost both eyes and their optic nerve to see.

“Provided the visual cortex is intact, it will even enable those who have been blind from birth to see for the first time.

“To set expectations correctly, the vision will be at first be low resolution, like Atari graphics, but eventually it has the potential to be better than natural vision and enable you to see in infrared, ultraviolet or even radar wavelengths, like Geordi La Forge.” Musk wrote on X.com.

Neuralink, co-founded by Elon Musk in 2016, specialises in developing innovative brain-computer interfaces to transform treatments for neurological disorders.

Neuralink’s technology includes a brain implant that reads neural signals and wirelessly transmits them to external devices, including computers and mobile devices.

Business World reports that Neuralink is also developing an implant that enables paralyzed individuals to control digital devices with their thoughts.

Neuralink is also reported to be conducting a clinical trial with three participants to evaluate the device’s effectiveness in aiding individuals with spinal cord injuries.

It was widely reported in August 2024 that Neuralink’s brain-computer interface was successfully implanted in a second patient, who is now controlling video games and creating 3D designs using only their thoughts.

The Ogun State Police Command has arrested a man named Tahiru Hamidu for allegedly engaging in unlawful sexual intercourse with a mentally unstable married woman (name withheld) in the Owode community, located in the Obafemi-Owode Local Government Area of the state.

The spokesperson for the state police command, Omolola Odutola, confirmed the arrest to our correspondent on Tuesday.

PUNCH Metro learnt that the suspect allegedly exploited the survivor’s condition to engage in non-consensual sexual intercourse on multiple occasions before he was apprehended by the men of the Owode Egba Division on September 12, 2024.

The suspect was also accused of threatening to murder the survivor’s brother-in-law, known only as Shofolahan, if he did not permit him to continue raping his brother’s wife.

On one occasion, Hamidu, a suspect from Northern Nigeria, was accused of luring the survivor to a cassava plantation, where he allegedly raped her multiple times before releasing her.

Odutola said, “The survivor is mentally incapacitated. The brother-in-law who reported the case claims that the suspect threatened to kill him to prevent him from stopping the crimes. The suspect is accused of repeatedly engaging in sexual acts with the survivor.

“The suspect is also accused of luring the survivor to a cassava plantation in the community, where he allegedly engaged in non-consensual sexual intercourse with her repeatedly.

“He began threatening the brother-in-law, warning him to stop preventing him from having sexual intercourse with the survivor and demanding that he hand her over to him.”

Odutola added that the investigation into the crime was ongoing following the suspect’s arrest.

PUNCH Metro reported a similar incident in March 2024, where a 26-year-old man named Usman Bube was arrested for allegedly attempting to rape his pregnant neighbour’s wife at the Ogatalo Fulani Camp in the Imala area of the state.

The suspect allegedly broke into his neighbour’s apartment, where he found the pregnant woman sleeping, and attempted to commit the crime, knowing that her husband, Muhammed Awwalu, had travelled out of the community, leaving his wife alone in the apartment.

When the suspect’s repeated attempts to forcefully engage in unlawful sexual intercourse with the woman failed, he allegedly pulled out a knife and tried to silence and overpower her.

However, he was apprehended by other neighbours before he could succeed.

Governors elected on the platform of the Peoples Democratic Party, (PDP) have once again pledged their support to the Governor of Rivers State, Siminalayi Fubara.

They insisted that Fubara is the leader of the party in the state.

Recall that the Minister of the Federal Capital Territory (FCT), Nyesom Wike had warned the PDP governors to steer clear of Rivers State, threatening that he will set fire in their various states if they interfere.

However, responding to Wike’s controversial outbursts, the Chairman of PDP Governors’ Forum, Governor Bala Mohammed said there is no going back on their support for Fubara.

Speaking on Tuesday when he received the delegation of the party’s National Working Committee (NWC) Mohammed, said party stakeholders were working behind the scene to bring Fubara and Wike together.

Addressing journalists shortly after the meeting, Mohammed added that as the number one member of the PDP in Rivers state, Governor Fubara should be allowed to have control over the party’s structure.

He told reporters that the NWC delegation has supported “the decision of the PDP Governors’ Forum to back Rivers State Governor Similayi Fubara as the leader of the PDP in the state.

“The decision is in order and that is how it is supposed to be. Governor Fubara is the leader of the party in the state. It is along this line that we collectively agreed for the rule of law, and the delegation gave their firm commitment and support for the position of the PDP Governors Forum in Rivers State.”

“We all know the relationship between the FCT Minister and the current Governor of Rivers state which is that of the mentor and the mentee. We are working behind the scenes to ensure they come together to work together in a manner that PDP is known for.

“Certainly, it is not something we can dictate here but we have summoned the courage and the will to ensure that the correct thing is done.”

Fraud involving computers, mobile devices, and point-of-sale (POS) systems dominated fraudulent activities across Nigeria during the second quarter of 2024.

This was revealed in the latest fraud report by the Financial Institutions Training Centre (FITC), which recorded a total of 11,532 fraud cases in the period under review.

According to the report, computer/web fraud, mobile fraud, and POS-related fraud emerged as the most frequent, continuing a pattern observed throughout 2023 and into the first quarter of 2024.

The total value of fraud in the second quarter was reported at ₦56.3 billion, marking a significant rise from the ₦34.8 billion documented in the first quarter of the year.

Of this amount, ₦42.6 billion was successfully stolen by fraudsters, while financial institutions managed to recover ₦13.7 billion.

Mobile fraud, including fraud carried out via mobile apps and internet banking, accounted for 33.4% of the total cases, making it the largest category.

POS-related fraud followed closely, contributing 24.6% of cases, while web-based fraud represented 16.9% of the total fraud incidents.

The report also highlighted computer-based fraud as a growing concern, showcasing the increasing threat posed by cybercriminals within Nigeria’s financial landscape.

FITC’s findings indicated that bank branches bore the brunt of the losses, with 95% of the total fraud value occurring at the branch level.

Despite advancements in technology, fraud continued to be perpetrated both by external actors and insiders, with 49 employees being dismissed for their involvement in fraudulent activities during the quarter.

The report also ranked fraud by magnitude, revealing that bank branches lost approximately ₦54 billion, which accounted for a staggering 95.63% of the overall fraud amount.

Web-based fraud followed with losses of ₦1.2 billion (2%), while POS and mobile fraud each contributed around 1%, resulting in ₦651 million and ₦547 million losses, respectively.

Notably, the report observed a 31.8% decline in card-related fraud. However, cheque and cash fraud surged significantly, leading to substantial financial losses.

This rise in cash-related fraud underscored that criminals are still exploiting traditional financial tools to their advantage.

FITC stressed the urgency of leveraging advanced technology, including artificial intelligence, to combat the rising complexity of fraud in Nigeria’s financial sector.

The report called for proactive measures, such as bolstered security systems and continuous training of staff, as critical to reducing fraud.

As fraudsters exploit both modern and traditional channels to target financial institutions, FITC emphasised the need for tighter regulatory oversight and the adoption of cutting-edge technology to protect the financial sector from future threats.

The report also disclosed that commercial banks lost a total of ₦42.6 billion to fraud and forgeries between April and June 2024.

The Central Bank of Nigeria (CBN) has approved a new chairman and board of directors for Keystone Bank.

This was confirmed in a statement on Wednesday by Keystone bank, in which it noted that the move was part of the apex bank’s strategy to ensure sustained growth for the financial institution.

The CBN appointed a new board chairman, five non-executive directors and two new directors.

Recalls the CBN had confirmed in January that it had dissolved the board and management of Union Bank, Keystone Bank, and Polaris Bank.

The apex bank, in a statement signed by its acting director of Corporate Communications, Sidi Ali Hakama, said the move became necessary due to the non-compliance of these banks and their respective boards with the provisions of Section 12(c), (f), (g), (h) of Banks and Other Financial Institutions Act, 2020.

According to the fresh statement on Wednesday, Lady Ada Chukwudozie has been appointed as the new board chairman.

The five other non-executive directors are Abdul-Rahman Esene, Mrs. Fola Akande, Akintola Ayodeji Olusoji, Obijiaku Samuel, and Senator Farouk Bello.

In addition, the CBN also named two new executive directors, Ladi Oluwole and Abubakar Usman Bello.

Lady Ada Chukwudozie, a prominent figure in Nigeria’s corporate sector, brings nearly three decades of experience in business strategy, management, and administration.

Her expertise cuts across multiple industries, including De-Endy Industrial Company Limited, Dozzy Group, the Manufacturers Association of Nigeria, and Vogue Afrique Magazine.

Abdul-Rahman Esene, with over 43 years of experience in banking, investment management, and corporate finance, has held leadership roles in major institutions such as Fidelity Bank, Afrinvest, and Global Arbitrage International Inc.

Mrs Fola Akande boasts over 25 years of experience in legal, compliance, and risk management, having worked with global brands like Cadbury, Stanbic Chartered Bank, and Shell.

Akintola Ayodeji Olusoji has a distinguished 30-year career in accounting, finance, and business development, having served at institutions such as Sterling Bank, Access Bank, and Intercontinental Bank.

Obijiaku Samuel, with more than 35 years of experience in banking and treasury operations, has left a significant mark on Nigeria’s financial sector, previously working with Zenith Bank and Fidelity Bank.

Senator Farouk Bello, a seasoned banker with over 20 years of experience, has led initiatives across both the public and private sectors, including the National Assembly and Guaranty Trust Bank.

Meanwhile, the two new executive directors bring their vast expertise to the table. Ladi Oluwole, the new Executive Director of Risk Management, comes with over two decades of experience in credit and enterprise risk management, including previous roles at Bank of America. Abubakar Usman Bello, Executive Director for the Northern Directorate, has extensive experience managing corporate, retail, and public sector clients.

Speaking on the appointments, Keystone Bank’s Managing Director and CEO, Hassan Imam, expressed confidence in the new board members, stating that their wealth of experience would play a crucial role in the bank’s continued repositioning and growth.

“We are pleased to welcome the new chairman, non-executive directors, and executive directors to the board of Keystone Bank. We are confident that their extensive experience will be invaluable as we continue to reposition the bank to seize emerging economic opportunities while maintaining strong corporate governance and providing our customers with a secure and reliable banking experience,” Imam said.

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has denied suggestions that the Nigerian National Petroleum Company Limited (NNPCL) has been allowed to usurp its powers by determining the price of petrol coming from Dangote Refinery.

The NMDPRA maintained that the deal between Dangote Refinery and NNPCL was based on a willing seller and willing buyer relationship.

The Chief Executive Officer of NMDPRA, Engr. Farouk Ahmed, who made the submission, said in line with the provisions of the Petroleum Industry Act (PIA), 2021, the interaction of market forces is what determines the price of petrol in the country since the government has deregulated the sector.

He added that the role of the NMDPRA is not to allow anyone to go overboard by exploiting the market or the final consumers.

Naija News recalls after lifting petrol from Dangote Refinery as the sole buyer of products from the facility, the NNPCL released a price template which indicates ₦950.22 as the average price of a litre in Lagos State, and ₦1, 019.22 per litre for Borno State, the longest and extreme end of the supply route.

This development raised concerns among stakeholders and industry watchers, with insinuations that the NNPCL had taken over one of the key functions of the NMDPRA.

But speaking in a chat with Daily Trust on Tuesday, Engr. Ahmed said the controversy generated by the action is needless.

He submitted that the pump price announced by the NNPCL was meant for its outlets across the country, and other marketers are not bound by the prices.

“We try to restrain ourselves from needless controversy,” he said.

“But to put the record straight, the recent transaction between NNPCL and Dangote Refinery is strictly based on a willing buyer and a willing seller.

“But I know you will ask me that the supply is not sufficient in Nigeria, hence the high price. Of course, things would work fine when we have more players in the sector.

“But in a situation whereby some Nigerians expect us to regulate the price, it then means that the sector has not been deregulated; and it means we would continue to have problems,” he added.

The immediate past Governor of Kogi State, Yahaya Bello, has revealed why he surrendered to the Economic and Financial Crimes Commission, EFCC, after a prolonged snub of the anti-graft agency’s invitation to answer for financial impropriety allegations levelled against him.

A statement on Wednesday by Yahaya Bello’s Media office Director, Ohiare Michael, made available to newsmen, stated that Bello “willingly surrendered to the anti-graft agency because the former Kogi governor has great respect for the rule of law and supports President Tinubu’s fight against corruption in the country.”

He said: “This decision was made after due consultations with his family, legal team and political allies.

“The former Governor, who has great respect for the rule of law and constituted authority, had, all the while, only sought the enforcement of his fundamental rights to ensure due process.

“The case has been before a competent court of jurisdiction, and Alhaji Yahaya Bello had been duly represented by his legal team at every hearing.

“It is important for the former Governor to now honour the invitation of the EFCC to clear his name as he has nothing to hide and nothing to fear.

“The former Governor believes firmly in the efforts of the administration of President Bola Ahmed Tinubu to place Nigeria on the path of sustainable economic development and supports the fight against corruption in the country.

“It is on record that he was the first Governor of Kogi State to put in place an anti-corruption mechanism to check graft and ensure that the resources of the State work for the people of the State,” the statement read.

More controversy has emerged in the execution of a sale-purchase deal on premium motor spirit, otherwise known as petrol, between the Nigerian National Petroleum Company Limited, NNPCL, and Dangote Refinery. 

Findings by Vanguard yesterday indicated that while the NNPCL believes Dangote cannot supply an adequate quantity of the product, Dangote told Vanguard it had already delivered 111 million litres of the product within three days (last Sunday to yesterday), adding that loading was still ongoing steadily.
NNPCL last weekend said Dangote could only deliver 16.8 million litres out of the 25 million litres it initially agreed with NNPC.

A source at the NNPCL also told Vanguard, yesterday that the refinery is struggling to deliver the 16.8 million litres it promised.

But with the latest delivery figure it disclosed, Dangote must have significantly surpassed its promised delivery as well as the national demand put at over 40 million litres per day.

This also means that Dangote can make further petrol importation unnecessary.
But against the backdrop of this latest development, Vanguard learned that importation by NNPCL may have intensified with several consignments, totalling over 135 million litres, within three weeks from September 27, 2024, with the latest import arriving Friday.

This also implies a sudden excess supply of petrol barely a few days after the country was suffocated by acute shortage of the product, resulting in a sharp rise in the price.

Speaking to Vanguard on the development, the Group Chief Branding and Communications Officer of Dangote Refinery, Anthony Chiejina, stated: “We have already loaded 111 million litres of petrol and the exercise is ongoing.

“We are refining and have no reason not to load. So, loading is ongoing and we would continue to provide the product to the market.”

More imports by NNPC

However, Motor Tanker Vessels Report, sighted by Vanguard, yesterday, indicated as of September 13, 2024, vessels such as Mia Grace, Valle Azzurra, Hafina Lioness and Clean Justice brought in 37,000 metric tonnes, 37,234 metric tonnes, 24,352 metric tonnes and 36, 934 metric tonnes of imported petrol into Nigeria for the government. 

Also, another vessel, known as Savanna, brought in 20,000 metric tonnes of import petrol through Mainland for distribution in Calabar while Mycroft brought in another 20,000 metric tonnes of diesel for Total Oil for distribution in Port Harcourt, Rivers State.

Two vessels – Ostria and Moriarity – brought in 15,000 metric tonnes each through Taurus and Awariste for distribution in the Warri, while Bedford brought in 12,000 metric tonnes of diesel.
Also Zonda and Capt. Gregory brought in 15,000 metric tonnes of petrol and diesel for Nepal and Awariste respectively, while Matrix Pride and Stellar also brought in 15,000 metric tonnes of petrol.

NNPCL did not respond

Efforts to get NNPCL to officially comment on the latest delivery figures from Dangote failed as the Chief Corporate Communications Officer of NNPCL, Mr. Olufemi Soneye, did not respond to questions from our reporter.

But in its earlier statement, the company had stated that 16.8million were available for loading from the refinery to its filling stations.

Why marketers can’t import petrol, lift from Dangote — NNPCL

Meanwhile, the Executive Vice-President, Downstream at NNPC, Adedapo Segun, said oil marketers have not been able to import petrol, despite the import permits granted them.

He said: “When the marketers go to Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA to get the permit or licence to get the import, typically they will say they want to import amount of automotive gas oil (AGO), aviation turbine kerosene (ATK), and some of them actually include petroleum motor spirit (PMS).

“They then go to market, check the market indices and say to themselves: PMS is still being sold below cost; if I bring it in, I’ll make a loss.

“Now they have approval to bring in ATK, AGO, and PMS, but they end up bringing only AGO and ATK.

“They do not bring in that PMS because the market is still not right for them. So, it is not because NNPC wants to be the sole importer or provider of PMS, it is because the other marketers won’t do it if it’s not profitable.”

Segun, who said marketers could also not purchase petrol directly from Dangote refinery, stated: “That is the same thing happening with Dangote. I said earlier that Dangote is a company and it is going to sell at market price.

“Basically, the situation has not changed there. So, NNPC off-taking is only because the others would not buy at the price Dangote will be willing to sell, which is reasonable. As soon as the price allows for it, you will see the marketers go to Dangote and buy.

“So, instead of saying NNPC is the only off-taker, let’s put it this way: NNPC is the only entity that is willing to off-take because NNPC has a role under law to be the energy provider of resort.”

FG should provide welfare packages — CPPE

Reacting to the development yesterday, the Chief Executive Officer, Centre for the Promotion of Private Enterprise, CPPE, Dr Muda Yusuf, said the recent upward review of petrol price has worsened the plights of most Nigerians and, of course, businesses.

“I think we need to go back to the drawing board, the social safety net in Nigeria is exclusively very weak, the people are suffering seriously and there is a limit to what they can absorb in terms of the pains of all these policies

“The government should wade into this and see how they can restore normalcy as the citizens should not be exposed to commercial pricing of petroleum products.

“The citizens are not finding it easy at all. Most recent increases have even further fuelled inflation as many citizens are trekking to places where they would have taken buses and so on. So, we are praying for an urgent intervention from the presidency on this matter.”

FORMER President Olusegun Obasanjo, yesterday, revealed how the former military Head of State, Gen. Abdulsalami Abubakar (retd), almost denied Nigeria a $280 million telecommunications deal.

Obasanjo said when Nigeria was about to transit from landline telephones to mobile phones, some major telecommunication companies approached the country seeking to provide mobile lines for the citizenry, but Abubakar wanted to award the deal to his friends for $3 million.

The former President, however, said he suggested that the contract be auctioned and the highest bidder awarded the contract, leading to the $280 million sale.

He spoke at the launch of a book titled ‘The Catalyst: Nigerian ICT Evolution through a Journalist’s lens,’ authored by an immediate past Editor of The PUNCH Newspapers, Mr Dayo Oketola, in Lagos.

Speaking at the event, Obasanjo said: “The story of telecommunications, particularly mobile telecommunication, is a very interesting one. Before mobile telecommunication, we had spent a lot of money, we had all sorts of companies invited from America, France and even from Britain, but we did not get more than 500,000 lines. People had to queue at the telephone kiosk to call their loved ones abroad. And then, of course, the mobile telephone age came in.

“When it came in, my predecessor in office was trying to give it away, I think, to their friend for $3 million. Then we said, what we would do was to auction it. The three that came in first, I think, paid $280 million for the line. $280 million for something about to be given away for $3 million. That was the first thing we did. Not only that, we achieved competition. 

“The three of them were competing. And, of course, the one that had the upper hand in terms of spread, I think, was MTN, followed by Glo. And then, there was Econet. They are now Airtel. And then, of course, later on, we had the fourth one, Etisalat. When Etisalat came, I told them the last one we did was $280 million. We told Etisalat to pay $450 million. They did.

“When they paid $450 million, the ball went in the post and then we were playing. That was how we got money to do what we did at the time we did it. That opportunity can still be made available. The money to develop Nigeria is out there, but that money will not come in unless we create a conducive atmosphere for that money to come in.

“What we did or what Nigeria has done in the good days when things were going well, are still there and can still be done today only if we put ourselves and we are honest to ourselves. We have to show character and attitude.”

In his remarks, President of the Nigerian Guild of Editors, NGE, Mr Eze Anaba, said: “It is great to see that an editor, despite the huge task of meeting deadlines, writing stories that would sell his paper, can sit down and write a book. I am here to say I appreciate Oketola’s effort and also honour him. It is an honour and privilege to be here for the launch of a book written by a respected and seasoned editor who has contributed hugely to shaping opinions through his paper. As an editor, he ensured that his readers were well-informed and educated. He has always been at the forefront of truth-telling, balancing the line between facts and analysis to ensure that readers are well-informed, engaged and sometimes even challenged.

“This book is a testimonial to his years of dedication to journalism. It captures insights, stories and perhaps some untold experiences that have shaped his career. It is an exploration of complexities through the lens of someone who has been on the frontline of news delivery. As we gather to celebrate this significant achievement, let us take a moment to acknowledge the efforts that went into writing this book. For an editor whose schedule is very tight and works round-the-clock, I think this book is very commendable.”

Notable dignitaries present at the launch included Minister of Information and National Orientation, Alhaji Mohammed Idris, represented by Commissioner for Information and Strategy in Lagos State, Mr Gbenga Omotoso; former Governor of Rivers State, Mr Rotimi Amaechi; Provost of the Nigerian Institute of Journalism, NIJ, Mr Gbenga Adefaye; Chairperson of the Editorial Board of The Nation Newspapers, Mr Sam Omatseye.

President Bola Tinubu is reportedly preparing to reshuffle his cabinet in anticipation of Nigeria’s Independence Day celebrations on October 1.

Sources within the presidency revealed to BusinessDay that this decision is a direct response to growing criticisms regarding the administration’s handling of the economy.

Reliable insiders indicated that several key ministries are likely to be affected by the upcoming reshuffle, including the Ministry of Petroleum Resources, Ministry of Power, Ministry of Transport, Ministry of Water Resources, Ministry of Environment, and Ministry of Defense.

Discontent has been brewing within the ruling All Progressives Congress (APC) regarding the current administration’s performance, with party members expressing concerns that without significant changes in economic management, the party may struggle to retain power in the 2027 elections.

A chieftain of the APC, speaking on the condition of anonymity, voiced dissatisfaction with President Tinubu’s economic policies, highlighting the urgent need for improvement to regain public confidence.

The APC chieftain said, “We do not understand why he is finding it difficult to replace Simon Lalong, former labour and employment minister long after he officially announced his resignation from the cabinet.

“Look at the Humanitarian Affairs Ministry, one of the most strategic ministries designed to give welfare to Nigerians, especially members of our party. It has been vacant without a minister. The president cannot tell us that we do not have a competent person within the party to take over that ministry since the suspension of the former minister.

“Even if they want to recall her, she can be reassigned to any other ministry, but there is no justification for leaving that ministry vacant.”

The APC chieftain revealed that all is not well with the party, noting that 2027 political consideration is being elevated above current challenges facing the nation.

Recall that while Simon Lalong representing Plateau State in the Tinubu’s cabinet, resigned to take up his seat at the Senate, Betta Edu, representing Cross Rivers State, was suspended over alleged corruption in her ministry.

According to BusinessDay, the President will announce the cabinet reshuffle ahead of the October 1st celebration.

The source revealed, “The president has concluded plans to reshuffle the ministers, and it will be done before or on the 1st of October broadcast.

“I may not be able to tell you those that will be dropped or those that will go, but remember that the president has been monitoring the performance of the ministers. So, he knows those that are performing and those that are not.”