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Microsoft warns Africa risks becoming AI consumer

Tech

Tony Elumelu’s Heirs Holdings stake in Seplat crosses $1bn

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EFCC charges two over alleged unlawful supply of FCMB

Business

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Aviation

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Tech

Netflix deploys AI to help viewers navigate content overload

Netflix is turning to artificial intelligence to help subscribers navigate the growing volume of content available on its platform, according to the company’s Chief Product and Technology Officer, Elizabeth Stone. Speaking at the Bloomberg Tech conference in San Francisco on June 3, Stone said advances in generative AI will make content discovery more personalised, interactive […]

Tech

UK regulator lets publishers block Google AI summaries

Online publishers and news organisations can now prevent their content from being used in Google’s AI-generated search summaries in the United Kingdom, following a new measure announced by the Competition and Markets Authority. According to the regulator, the change is designed to strengthen the bargaining position of publishers, including news organisations, when negotiating content agreements […]

featured Technology

Global AI usage to consume more electricity than Nigeria, two others — UN

Global data centres are projected to consume almost three times the annual electricity used by Nigeria, Pakistan and Bangladesh combined by 2030, according to a new report released by the United Nations on Wednesday. The report, published by the UN University Institute for Water, Environment and Health, attributed the anticipated increase in electricity demand largely […]

Aviation

Airlines can’t cope with jet fuel costs surge, IATA warns

Airlines across the world are facing mounting pressure from volatile jet fuel prices, with the International Air Transport Association warning that many carriers are unable to protect themselves against rising fuel costs through hedging. The warning was issued by IATA’s Head of Fuel, Daniel Chereau, during the S&P Global Energy Middle East Petroleum and Gas […]

Electricity

NERC to pay customers selling excess solar power to national grid

The Nigerian Electricity Regulatory Commission has introduced a new billing framework that will enable electricity consumers with renewable energy installations to earn credits for excess electricity exported to the national grid. The framework is contained in the Net Billing Regulations 2026, which was released by the Commission on June 3. According to the regulation, the […]

Finance

Nigeria’s private sector credit remains below economic peers — AfDB

Nigeria’s banking sector extends credit to the private sector equivalent to just 9.4 per cent of the country’s Gross Domestic Product, underscoring the limited role of financial institutions in supporting business expansion despite ongoing reforms aimed at deepening financial inclusion and stimulating economic growth. This was disclosed in the African Development Bank’s 2026 African Economic […]

Scams

Customs warns public over fake recruitment screening notices

The Nigeria Customs Service has urged members of the public to disregard two circulating documents falsely claiming to contain screening schedules for candidates who passed the Computer-Based Test in its ongoing recruitment exercise. The warning was issued by the Nigeria Customs Service in a statement posted on its verified X account on Wednesday, where the […]

Finance

Public sector pension remittances hit ₦903bn as assets surge

Public sector pension remittances recorded a significant increase of 234.85 per cent, rising to N550.96 billion in the fourth quarter of 2025, according to the Q4 2025 Quarterly Industry Report released by the National Pension Commission. The report revealed that total pension contributions for the quarter stood at N903.7 billion, while the private sector contributed […]

Business

ETF market rebounds despite dip in trading activity

Exchange-traded funds listed on the Nigerian Exchange recorded weaker trading activity in May 2026, with the total value of transactions declining to N3.67 billion from N3.71 billion in April. Data on NGX trading activity showed that total trading volume also slipped marginally month-on-month, falling to 25.92 million units from 26.90 million units, indicating a slight […]

Business

Legend Internet assures investors of future prospects despite H1 loss

Legend Internet Plc has reassured investors of stronger earnings prospects in the future despite reporting a pre-tax loss of N199.34 million for the six months ended January 31, 2026, as aggressive investments in network expansion, rising operating expenses and significantly higher financing costs weighed heavily on profitability. The broadband and digital services provider moved from […]

Mobile phones

Google launches fake call detector feature for Android users

Google has introduced a new security feature on Android capable of detecting and flagging suspected impersonation calls in real time, as the technology giant intensifies efforts to combat the rising threat of artificial intelligence-powered voice cloning scams that contributed to more than $400 billion in global losses last year. The new feature, known as fake […]

Business

Africa can unlock $469bn annually without raising taxes – AfDB

The African Development Bank has said Africa could generate more than $469 billion in additional annual revenue without raising statutory tax rates, stressing that stronger tax administration and improved compliance could significantly boost government earnings across the continent. This was disclosed by made by the Chief Economist and Vice-President for Economic Governance and Knowledge Management […]

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