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Tinubu orders arrest of fake agency promoter, suspends

  • 21st August 2026

FBI asks US court to keep Tinubu-related records

  • 21st August 2026

US recognises Nigerian-American fintech entrepreneur George Azih

  • 21st August 2026

Geregu Power confirms payment of N40bn bond coupon,

  • 21st August 2026

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Tinubu orders arrest of fake agency promoter, suspends three

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LCCI warns FG on rising debt
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LCCI reiterates demand for fixed import duty exchange rate

The Lagos Chamber of Commerce & Industry has urged the federal government to set a fixed import duty exchange rate below the market rate for at least six months. The LCCI Director-General, Dr. Chinyere Almona, made this disclosure in a chat on Monday, according to The Punch. Almona emphasized this as a necessary step for […]

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Senator laments $11bn loss on Ajaokuta steel project

Senator Jimoh Ibrahim has criticized the Ajaokuta Steel Complex as a symbol of Nigeria’s wasted development potential, citing the $11 billion spent over 43 years without any steel production. This was disclosed in a statement by Ibrahim at the 2024 Oxford Major Programme Management conference on Monday, according to The Punch. Ibrahim, who represents Ondo […]

The Nigerian equities market closed in positive territory on Thursday, with investors pocketing a gain of N239bn in market capitalisation
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Nigerian equity market opens week with N63bn loss

The Nigerian equity market closed the first trading day of the week on a negative note, with a loss of N63 billion. Market capitalization dropped from N59.53 trillion to N59.47 trillion. The benchmark All-Share Index dropped by 103.23 points, ending at 98,107.52, reflecting a 0.11% loss. Despite the daily decline, the ASI has gained 0.38% […]

OpenAI makes ChatGPT free, expands access without sign-ups
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OpenAI to launch long-awaited Sora video generator tool

OpenAI is launching Sora, an advanced AI system capable of generating realistic 20-second videos from text prompts. Announced during a livestream, the tool will be available to paid ChatGPT users in the U.S. and other markets starting Monday. Users can create multiple variations of each clip, showcasing OpenAI’s continued expansion into generative video technology. With […]

News

Microsoft launches zero-water cooling for sustainable AI data centres

Microsoft Corp. has introduced a new data center design aimed at eliminating water usage for cooling chips and servers, as part of its efforts to reduce its environmental impact. Launched in August, this innovative system replaces traditional cooling methods, which typically consume over 125 million liters of water annually per data center. The design utilizes […]

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AI Voice startup from ex-OpenAI researcher raises $40m

WaveForms AI, a new startup founded by Alexis Conneau, the lead researcher behind OpenAI’s voice assistant, has secured $40 million in seed funding from Andreessen Horowitz. The company is focused on developing AI audio technology that can detect emotional cues in speech, enabling more natural and engaging conversations between humans and machines. Valued at $200 million, WaveForms […]

Jack Ma expresses confidence in Ant Group's AI future
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Jack Ma expresses confidence in Ant Group’s AI future

Alibaba co-founder Jack Ma voiced strong optimism about the future of Ant Group, highlighting significant opportunities in artificial intelligence for the fintech giant during a rare public appearance on Sunday. The remarks were made at the 20th-anniversary celebration of Ant Group, which Ma also co-founded, marking his first such appearance since China halted the company’s […]

Xiaomi to launch first SUV in 2025
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Xiaomi to launch first SUV in 2025

Chinese electronics giant Xiaomi announced on Monday that it plans to debut its first SUV, the YU7, in June or July of 2025, marking a deeper push into China’s highly competitive automotive sector. The company made the announcement on China’s social media platform Weibo, revealing an image of the YU7 alongside its first electric vehicle, […]

AfDB, ECOWAS sign $12m agreement to boost Rice production
News

AfDB offers strategic solutions for Africa’s debt, forex challenges

The African Development Bank has outlined key strategies for Nigeria and other African nations to address rising debt burdens and foreign exchange difficulties. These insights were shared by the Bank’s Vice-President for Economic Governance and Knowledge Management, Prof. Kevin Urama, in a recent interview with the News Agency of Nigeria. Urama discussed Nigeria’s debt profile, […]

Two Chinese charged for shipping US AI chips to China
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Nvidia shares fall amid antimonopoly probe in China

Nvidia’s shares dropped around 2% on Monday following news that China’s antimonopoly regulator is investigating the company for potential violations of the country’s competition laws. This investigation adds to the ongoing scrutiny of foreign companies in China. The State Administration for Market Regulation of China has launched an investigation into Nvidia concerning its acquisition of […]

A picture of someone holding European currency
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Naira strengthens against euro in parallel market amid FX reforms

The Nigerian naira has shown significant strength against the euro in the parallel market, driven by ongoing foreign exchange reforms and political uncertainties in Europe. The EUR/NGN exchange rate dropped from N1852/€ to N1695/€ as of December 2, 2024, reflecting a bearish trend for the euro. The recently introduced Electronic Foreign Exchange Matching System has […]

Otedola asks top First Bank official to resign over 'wasteful party'
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Otedola asks top First Bank official to resign over ‘wasteful party’

The global head of marketing and corporate communications at First Bank, Folake Ani-Mumuney, has been asked to step down by Femi Otedola, chairman of the bank’s holding company, TheCable reported on Monday. The call for her resignation by Otedola stems from being “deeply angered” upon discovering that a substantial amount was spent on a send-off […]

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