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BlackBerry Ltd.  appears to have finally found a savior , and if all the details are worked out, the company will go private in a deal led by its largest sharehlder, Fairfax Financial, valued at $4.7 billion, or $9 a share, sometime in November. Though a nice upside for a stock that got pummeled by  last week’s whopper of an earnings warning , it’s a huge comedown from BlackBerry’s  BBRY   +0.23%   former status as the pioneering smartphone maker that was revered for its secure network and high-quality handsets. The deal price is also less than one-quarter of the market value that the company commanded just three years ago. Click to Play BlackBerry agrees to $4.7B deal Beleaguered smartphone maker BlackBerry struck a deal to sell itself to a group led by Fairfax Financial for about $4.7 billion in cash. Ryan Knutson joins digits. BlackBerry may not be dead yet, but its drastic reversal of fortune is probably going to make for some good business school case studies. The co

Two-dozen US and European banks have been targeted by the Shylock Trojan. Shylock avoids detection as it injects itself into legitimate processes. Twenty-four banks across Europe and the US have recently been targeted by Shylock – aka Capshaw – financial   malware  that has actively been going after bank accounts since 2011. The countries with the highest number of infections are the UK, Italy, Denmark and Turkey. Sachin Deodhar and Chris Mannon, researchers from Zscaler's ThreatLabZ, have  reported  this upswing in activity, but say they are currently unable to identify the initial infection vector. "We can tell that it is more than likely arriving as part of an exploit kit honing in on  vulnerable  versions of Java. The reason we suspect this is that the user-agent for every single transaction that has come through our Behavioral Analysis solution has been: Mozilla/4.0 (Windows XP 5.1) Java/1.6.0_07." Shylock avoids detection as it injects itself into l

The Academic Staff Union of Universities on Wednesday faulted the statement credited to the Minister of Finance, Dr. Ngozi Okonjo- Iweala, that the union demanded for N92bn, describing the claim as false. ASUU said it never demanded such amount as earned allowances in the 2009 agreement it reached with the Federal Government. Okonjo-Iweala had on Wednesday in Minna, said the Federal Government couldn’t meet the N92bn allowances as demanded by ASUU. The university lecturers, in a statement by the University of Ibadan branch chairman, Dr. Olusegun Ajiboye, described the amount mentioned by the minister as “a the imagination of the minister.” Ajiboye explained that the earned allowances, the union and the governemnt calculated in the 2009 agreement, amounted to N87b, which covered allowances for three and half years for the lecturers in the nation’s universities. He said, the N87bn was a compromise made by ASUU to scale down from N127bn. He added that the N87bn was computed

A cocktail of options on how to bridge Nigeria’s infrastructure financing gap yesterday resulted in a senior government minister, Shamsudeen Usman, minister, national planning, saying “Nigeria needs about $2.9 trillion in the next 30 years to execute its integrated infrastructure master plan.” Usman told the audience on the first day of ongoing roundtable by the Securities and Exchange Commission (SEC) that going by the national integrated infrastructure master plan, “the nation needs an average of $25 billion annual spend between 2014 and 2043.” About 35 percent to 40 percent stock of Nigeria’s infrastructure remain below the international benchmark of 70 percent of gross domestic product (GDP) in 2012, meaning that Nigeria needs to up its infrastructure stock to at least 70 percent in the next 30 years. According to Usman, the integrated infrastructure master plan comes out of government’s realisation that when it creates the enabling environment, the private sector will thrive

Hi guys previously I posted on the new tech on internet security which is a big step for GTBank, now I want to show you how getting a token is in steps, enjoy

My Fellow GTBank Customer, Webpay Online Payment Security is now the safet online payment system in Nigeria. Thank you for choosing Guaranty Trust Bank plc. To further ensure the safety and integrity of your domestic online payments, GTBank has introduced a second level authentication process to confirm Webpay transactions on Nigerian websites through the use of the GTBank Token device or the One-Time Password (OTP) . This service will be effected from today, Monday, 1st of July, 2013. what is the GTBank token device? The GTBank Token Device is a security device that ensures a fast, secure and convenient way for 3rd party transfers via our Internet banking platforms and to make online purchases of goods and services. What is a one-time password A One-Time Password (OTP) is a code securely generated by the Bank and sent to customers who do not have a GTBank Token Device to confirm their online transactions. This One-Time Password is sent via SMS to the phone number regi

The move by Federal Mortgage Bank of Nigeria (FMBN) to ensure full automation of its processes and help reduce the transaction cycle of the National Housing Fund (NHF) has reached 80 percent completion. Managing Director, FMBN, Mr. Gimba Yau’ Kumo, disclosed this recently when the new executive council of the Mortgage Banking Association of Nigeria (MBAN), led by the President, Mr. Femi Johnson, met with top officials of FMBN. He noted that with this development, the NHF transaction cycle will be less than 90 days, adding that workshops and/or training programmes are being planned for primary mortgage banks (PMBs) to work towards a shorter transaction cycle for NHF process. Yau’ Kumo’s statement was in response to a call by Johnson, the MBAN president, who  urged FMBN to fast track the automation of NHF process, saying  “there is the dire need to conclude Automation Process of the NHF Scheme, very quickly.” Johnson also called for the resuscitation of the quarterly meetings of the

The National Pension Commission (Pencom) has disclosed that it has so far registered 5.56 million participants into the Contributory Pension Scheme (CPS) since 2004. Mrs Chinelo Amazu, the Acting Director General of the commission, disclosed this in Calabar at the inauguration of the South-South zonal office of Pencom. She said that the commission had generated a large pool of investible funds of over N3.34 trillion. She said the amount has been invested in various instruments based on the statutory guidelines. According to her, these are part of the achievements of the commission since its establishment in 2004. She said that the commission was amending the Pension Reform Acts of 2004 which had passed through the second reading in the Senate. The acting DG said the agency had succeeded in issuing  regulations which has ensured the smooth running of the industry and creation of job opportunities. She said Pencom had also made possible the “administration of retirement benefits

The Federal Government has redeployed the Permanent Secretary of the Ministry of Petroleum Resources, Mr. Abdulazeez Musa, over alleged waste of government funds. Although, Media Adviser to the President, Dr. Reuben Abati, while reacting said that President Jonathan does not redeploy civil servants, it would be recalled that he approved the appointment and re-posting of some Permanent Secretaries earlier this year. Musa was reportedly removed from his position, after Aso Rock received intelligence report that he organised a wedding ceremony for one of his children in Dubai. A'sB gathered that a probe panel had been constituted to investigate him in line with civil service regulations. Meanwhile, the Head of Service of the Federation, Mr. Abba Aji Goni, has directed the most senior Director in the ministry to act on behalf of the redeployed Perm Sec. When contacted, the ministry's Chief Press Secretary, Mr. Kingsley Agha, confirmed the development "He was redep

    CBN Governor, Lamido Sanusi The cash-less policy of the Central Bank of Nigeria enters a new phase today (Monday) as the maximum ceiling of N150,000 placed on conversion of third-party cheques to cash by individuals takes off. The implication is that any cheque above N150,000 originating from a third party must be lodged into the beneficiary’s account. The policy, according to the CBN, is one of the measures being put in place to discourage the use of cash in the system.

  Deputy Governor (Operations) of the CBN, Mr. Tunde Lemo The Deputy Governor, Operations, Central Bank of Nigeria, Mr. Tunde Lemo, on Tuesday said the total Point of Sale terminals has risen to 115, 000. Lemo disclosed this during a visit to the Ogun State Governor, Senator Ibikunle Amosun, in his Oke-Mosan, Abeokuta office on the planned take-off of the cashless policy in the state.

20 ways to make money in your spare time There are ways to generate income outside the 9-5 grind – get busy in your free time and you could see the pounds rolling in. Moneywise shows you how with our top money making tips. The new austerity measures from the coalition government mean many people will have to tighten their belts over the coming months. While sticking to a budget and finding ways to cut back are advisable, with a little imagination and effort you could find there are ways you can actually make money. Moneywise has come up with 20 ways to make money during the credit crunch - some are easier than others but all of them could see you make some extra cash. 1. Track down old accounts According to the British Bankers' Association, there is more than £15 billion sitting forgotten in bank and savings accounts in the UK, with the average balance estimated to be £600. The good news is that tracing lost funds has become easier with Mylostaccount