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Policy and Regulations

Probe Oyedele, Edun over ₦12trn subsidy savings gap, APM

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featured Technology

AI tools costs now exceed employee salaries — Nvidia, Uber

Companies accelerating their adoption of Artificial Intelligence are discovering that the cost of AI tools and computing power can quickly exceed employee salaries, according to executives from Nvidia and Uber. As reported by The Economic Times on Friday, Bryan Catanzaro, Vice-President of Applied Deep Learning at Nvidia, told Axios that AI compute expenses have become […]

Instagram tests private dislike button for comments
featured Mobile phones

Instagram stops end-to-end encrypted messages from May 8

Instagram has officially ended support for end-to-end encrypted direct messages from Friday. The development was disclosed in an update published on Instagram’s Help page, where the platform informed users that encrypted messaging would no longer be available on the app. “End-to-end encrypted messaging on Instagram will no longer be supported after 8 May 2026,” the […]

featured Finance

LG autonomy: I’ve never touched govt funds, says Taraba gov

Governor Kefas Agbu of Taraba State, has explained his approach to implementing local government autonomy, saying the local council has been granted financial autonomy but is being supervised. The governor, who spoke during an interview with select journalists in Lagos, noted that his approach was aimed at restoring efficiency and accountability at the grassroots level. […]

Finance

National Assembly approves ₦2.285tn FCT 2026 budget proposal

The National Assembly on Thursday passed the 2026 Statutory Appropriation Bill for the Federal Capital Territory, approving a total expenditure of N2.285tn for the development and administration of the nation’s capital. The approval followed the presentation and consideration of the harmonised report of the Senate and House of Representatives Committees on the FCT during plenary. […]

US court jails Nigerian hacker for $2.5m identity theft
Scams

Nigerian faces 20-year jail term for US casino fraud

A Nigerian man, Kenneth Godwin, is at risk of a 20-year imprisonment following his indictment in a wire and computer-related fraud scheme targeting a casino business in South Dakota, United States of America. The indictment was announced by the US District Attorney, Ron Parsons, on Thursday. Parsons disclosed that a federal grand jury indicted Godwin […]

Business

DAAR Communications rejects claims of altered shareholding structure

DAAR Communications Plc has stated that its board has not approved or implemented any changes to the company’s shareholding structure through any statutory process. The clarification follows an earlier report in which the Corporate Affairs Commission denied that its records were manipulated following a cyberattack. This was disclosed in a notice submitted to the Nigerian […]

Business

MTN shareholders approve ₦167.9m remuneration for chairman Ndukwe

Shareholders of MTN Nigeria have approved a new remuneration package for the company’s non-executive directors, with Chairman Ernest Ndukwe set to earn N167.9 million for the 2025 financial year. Nairametrics reported that the company disclosed this on Thursday in a corporate disclosure published by the NGX. The resolution was passed during the company’s Annual General […]

News

Fani-Kayode redeployed to South Africa amid xenophobia concerns

Former Aviation Minister, Femi Fani-Kayode, has confirmed his redeployment as Nigeria’s Ambassador-Designate to South Africa. Fani-Kayode disclosed this through a statement posted on his official X account, where he explained that President Bola Ahmed Tinubu approved his redeployment from Germany to South Africa following a personal request. His reassignment comes amid recent xenophobic attacks in […]

Banking

Optimus Bank profit rose 69.94% in 2025

Optimus Bank Limited, a national bank and one of Nigeria’s emerging digital-driven banking frontrunners, has released its audited financial results for the year ended December 31, 2025, reporting a 69.94 per cent year-on-year increase in profit before tax to N24.14 billion. Nairametrics reported that according to its published financial statements, the bank’s gross earnings rose […]

Business

Neimeth pharmaceuticals shareholders approve ₦1.99bn capital restructuring scheme transfer

Shareholders of Neimeth International Pharmaceuticals Plc have approved a major capital restructuring scheme that will reduce the company’s share premium account from N2.38 billion to N390.02 million and transfer N1.99 billion to its retained earnings reserve. Nairametrics reported that the approval was granted at a Court-Ordered Meeting held virtually, where shareholders backed up the Scheme […]

Finance

Reps sets up panel to recover outstanding FG debts

The House of Representatives on Thursday constituted an ad-hoc committee to investigate debts owed to the Federal Government by state actors, private entities and Ministries, Departments and Agencies, appointing the member representing Obokun/Oriade Federal Constituency of Osun State, Oluwole Oke, as chairman of the panel. The committee was inaugurated following the adoption of a motion […]

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