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As the Nigerian government continues its spree of making stringent rules that stifle the flow of dollars in the country, the ripple effect is already hitting hard on companies offering cross-border payments to Nigeria.
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Wise said in a mail to customers yesterday that it will stop processing USD to Nigerian starting next month.
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Below are the tech stories and news you need to know to start your day, carefully curated by Technext.
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Summary of the news
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- Uganda’s president has signed the Computer Misuse Bill into law
- TransferWise said it will stop processing USD to Nigeria
- Google said it is rolling out passkey for Android and Chrome
- Airtel Africa has bought Spectrum in Tanzania for $60.1 million
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Museveni passes Uganda’s controversial Computer Misuse Bill
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A month after the Ugandan parliament passed the controversial Computer Misuse (Amendment) Bill, Ugandan president Yoweri Museveni has signed it into law, TechCabal reports.
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The announcement was made yesterday by the Presidential Press Unit (PPU). According to the PPU, the president signed four bills into law: the Physical Planners’ Registration Act, the Kampala Capital City (Amendment) Act, the Mining and Minerals Act, and the Computer Misuse (Amendment) Bill.
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The bill—now an act—is an amendment to the 2011 Computer Misuse Bill.
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According to the bill, its objectives are “…to enhance the provisions on unauthorised access to information or data; to prohibit the sharing of any information relating to a child without authorisation from a parent or guardian; to prohibit the sending or sharing of information that promotes hate speech; to provide for the prohibition of sending or sharing false, malicious and unsolicited information…”
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Wise will stop processing USD to Nigeria
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London-based fintech, Wise (formerly TranferWise), which rose to prominence, providing cross-border payment, especially to African countries said it will stop making USD transfers to Nigeria.
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In an email to customers yesterday the company said that the product has become too unreliable. Even though TranferWise told customers in the mail that it is working on making the process more efficient, it didn't give any indication that it will be rolling out a similar product anytime soon.
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It says that from November 1st users will not be able to make USD transfers to Nigeria.
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See an excerpt from the mail below:
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From 1 November, we're stopping all USD transfers to Nigeria.
We're doing this because sending money to Nigeria hasn't been as fast or reliable as we'd like. We want to fix this before your next USD transfer to Nigeria.
The route will be closed until we're sure we can provide the service you deserve. We'll let you know as soon as USD transfers to Nigeria are available again.
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Google rolls out passkey for Android and Chrome
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Passkeys are a newer type of login credential intended to replace passwords.
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They require a user to provide biometric authentication — such as a fingerprint or facial scan — or a PIN via a smartphone or secondary device logged into their password management service.
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If app and software developers choose to support the capability with Google’s new WebAuthn API, users will be able to create and use passkeys for Android apps and on websites accessed through Chrome.
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The passkeys will be securely stored and synced on Google Password Manager, much like a password would be saved. Google contends that passkeys are significantly safer than passwords and other “phishable” authentication factors. “They cannot be reused, don’t leak in server breaches, and protect users from phishing attacks,” Google explained.
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A word from our partners!
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Airtel Africa Buys Spectrum in Tanzania for $60.1 Mln
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Airtel Africa PLC said Thursday that it has bought additional spectrum in Tanzania for $60.1 million to support network expansion for both mobile data and fixed wireless home broadband capability, MarketWatch reports.
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The provider of telecommunications and mobile money services said that it has purchased 140 megahertz of spectrum spread across the 2600 MHz and 3500 MHz bands from the Tanzania Communications Regulatory Authority. Shares in Airtel Africa at 0936 GMT were up 1.10 pence, or 0.9%, at 124.90 pence.
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"This investment reflects our continued confidence in the opportunity inherent in the Tanzanian market, supporting the local communities and economy through furthering digital inclusion and connectivity," Airtel said.
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Latest in funding
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Other stories we are following
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