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NIA DG urges industry to embrace evolving regulatory standards

The Director-General of the Nigerian Insurers Association, Bola has said that the increasing complexity of regulatory requirements aims to bring the Nigerian insurance sector in line with international best practices, rather than to impose unnecessary burdens. Speaking at the Annual General Meeting of the Risk, Audit, and Compliance Committee in Lagos, he urged industry stakeholders […]

Labour advocates annual minimum wage adjustment to reflect inflation
Business

NLC calls for urgent relief as fuel prices soar

The Nigeria Labour Congress has described the recent surge in petrol prices, triggered by the ongoing conflict in the Middle East, as a direct blow to Nigerians and urged the federal government to take urgent steps to cushion the impact. In a statement titled “Save Nigerians From This Shock: An Urgent Relief Has Become Necessary,” […]

FAAN increases Abuja airport toll fare
Aviation

Four suspected bandits arrested near Akure airport

Four suspected bandits were arrested near Akure Airport after a coordinated security operation around the airport premises. The Federal Airports Authority of Nigeria disclosed the development in a statement signed by Henry Agbeberi on March 15, 2026. FAAN said the suspects were apprehended earlier that day when security personnel responded to a distress alert in […]

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Develop assets or lose exploration licences, NUPRC warn oil firms

The Nigerian Upstream Petroleum Regulatory Commission has declared an end to the practice of oil companies holding exploration licences for years without developing the assets, stating that new provisions under the Petroleum Industry Act now require operators to either develop their fields or relinquish them. The Commission Chief Executive of NUPRC, Oritsemeyiwa Eyesan, made this […]

Air Peace denies alleged safety protocol violations in UK
Aviation

NCAA summons Air Peace over unexplained flight disruptions

The Nigerian Civil Aviation Authority has called Air Peace to its headquarters for an urgent meeting to address several unexplained flight disruptions. The meeting is scheduled for Monday. In his post via his official X account on Saturday, the NCAA’s director of public affairs and consumer protection, Michael Achimugu, said that the issues include passenger […]

US senators demand Meta probe over chatbot child safety concerns
Tech

Meta plans sweeping workforce cut amid AI push

Meta Platforms is considering sweeping layoffs that could affect 20 per cent or more of its workforce. The potential cuts are aimed at helping the Facebook parent company manage the heavy costs associated with its aggressive investments in artificial intelligence infrastructure, as well as AI-focused acquisitions and recruitment, according to Reuters. Meta had nearly 79,000 […]

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CBN orders banks to expand ATM network nationwide

The Central Bank of Nigeria has instructed banks and other card issuers to significantly expand the deployment of Automated Teller Machines nationwide, setting a target of at least one ATM for every 7,500 payment cards issued by 2028. Under the new Guidelines on the Operations of ATMs in Nigeria, the apex bank stated that “all […]

Elon Musk’s xAI secures $10bn in funding to expand AI
Tech

XAI undergoing rebuild after key co-founder’s exit – Musk

xAI is under mounting competitive pressure after co-founders Zihang Dai and Guodong Zhang departed this week. The exits follow criticism from Elon Musk, who expressed concern that the company’s AI coding tools were falling short against rivals Claude Code and Codex, developed by Anthropic and OpenAI, respectively. “xAI was not built right first time around, […]

US senators demand Meta probe over chatbot child safety concerns
Tech

Meta unveils tools to fight impersonation, boost original content

Meta Platforms Inc. on Friday introduced new measures to curb impersonation and clarify what constitutes “original content” on Facebook, following widespread criticism that the platform had become flooded with low-quality AI-generated posts. The updates build on last year’s crackdown targeting spammy and unoriginal material, including repeated use of others’ photos, videos, or text. Meta said […]

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Nigeria air cargo operators divided as Middle East conflict disrupts logistics

The ongoing Middle East conflict involving the United States, Israel, and Iran has sparked mixed reactions among Nigerian air freight operators, with some reporting higher outbound cargo rates while others say their prices have remained unchanged. Operators said disruptions to global aviation networks since the crisis began on February 28 have affected cargo shipments differently, […]

EU rules out fee for tech giants under digital markets act
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Europe to demand fingerprints, photos for all arriving travelers

European vacation destinations will soon require all travelers to provide fingerprint scans and photographs upon arrival as part of a new border screening process. France, Italy, Portugal, the United Kingdom, and 25 other countries began rolling out the new Entry/Exit System on October 12, with full enforcement. Officials say the program will be introduced in […]

Business

CBN signals possible capital raise for banks after stress tests

The Central Bank of Nigeria has indicated that Nigerian banks may need to raise additional capital depending on the outcome of a new stress testing exercise aimed at evaluating the strength of their credit portfolios against potential economic shocks. The apex bank disclosed this in a directive instructing all banks to commence the stress test […]

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