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  • 22nd August 2026

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NDIC urges AI adoption to strengthen fraud detection in banks
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NDIC urges AI adoption to strengthen fraud detection in banks

The Managing Director and CEO of the Nigeria Deposit Insurance Corporation, Mr. Bello Hassan, has called for the integration of Artificial Intelligence technologies to improve fraud detection in Nigeria’s financial institutions. Speaking at the Risk Management Roundtable organized by FITC, Mr. Hassan highlighted the limitations of traditional fraud detection methods, which rely heavily on manual […]

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Volkswagen faces largest German worker strike since 2018

Tens of thousands of Volkswagen workers in Germany are set to embark on strike on Monday in what will be the largest walkouts at the company’s domestic plants since 2018. Organized by the IG Metall labour union, the strikes will last several hours and follow weeks of stalled negotiations, according to CNN. The dispute stems […]

US senators demand Meta probe over chatbot child safety concerns
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Meta tightens Ad policies to curb scams targeting Australians

Meta Platforms has introduced stricter advertising rules for financial products and services in Australia to combat scams on Instagram and Facebook. This move follows Meta’s October announcement of removing 8,000 “celeb bait” ads, which used images of famous individuals to deceive consumers into participating in fake investment schemes, according to Reuters. Meta said advertisers promoting […]

C'River's 20km Road to boost economic growth - Lafarge
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Holcim to divest stake in Lafarge Africa

Swiss cement giant Holcim has announced plans to exit its Nigerian operations by selling its nearly 84% stake in Lafarge Africa to China’s Huaxin Cement. The deal is valued at $1 billion, marking a significant move for both companies in the global cement industry, according to Reuters. Holcim’s decision to sell its 84% stake in […]

Trump threatens 100% tariffs on BRICS nations over dollar challenge
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Trump threatens 100% tariffs on BRICS nations over dollar challenge

United States President-elect Donald Trump has vowed to impose 100% tariffs on BRICS countries that attempt to replace the U.S. dollar in international trade. The threat was made in a statement posted on his official Facebook page on Sunday. Trump, known for his “America First” policy, made it clear that the U.S. would not stand […]

FCCPC probes consumer complaints against GTBank, MTN, Air Peace
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FCCPC probes consumer complaints against GTBank, MTN, Air Peace

The Federal Competition and Consumer Protection Commission has announced the launch of a comprehensive inquiry into widespread consumer complaints involving leading companies in the banking, telecommunications, and aviation sectors, including GTBank, MTN, and Air Peace. The Commission revealed this in a statement on Sunday, signed by its Director of Corporate Affairs, Ondaje Ijagwu. The investigations, […]

Elon Musk’s xAI secures $10bn in funding to expand AI
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Elon Musk seeks court order to stop OpenAI’s for-profit shift

Elon Musk, along with his AI company xAI and former OpenAI board member Shivon Zilis, has filed a motion for a preliminary injunction against OpenAI. The filing seeks to prevent OpenAI from transitioning into a fully for-profit entity and alleges that the company is pressuring its investors to avoid funding competitors like xAI. The lawsuit […]

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Britain’s job data crisis poses rising challenge for banks

Britain’s banks may be setting aside additional funds to cover potential bad loans due to inaccuracies in the country’s labour market data. Lenders rely on metrics like the unemployment rate, GDP, property prices, inflation, and interest rates to forecast loan defaults. However, the UK’s Office for National Statistics has faced challenges in collecting reliable employment […]

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FX matching system will correct Naira’s true value – Cardoso

The Central Bank of Nigeria, Olayemi Cardoso announced that the upcoming electronic FX matching system will help align the naira-to-dollar exchange rate with the naira’s true market value. Speaking at the Bankers’ Committee Annual Dinner on November 29, 2024, at Eko Hotel, Lagos, governor Cardoso highlighted that the electronic FX matching system would enhance price […]

TotalEnergies to invest $750m in LNG project in Nigeria
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TotalEnergies to invest $750m in LNG project in Nigeria

French oil giant TotalEnergies has announced plans to invest $750 million in a Liquefied Natural Gas project in Nigeria, set to begin in 2025. The investment was revealed by the company’s Senior Vice President for Africa, Mike Sangster, during the France-Nigeria Business Forum in Paris on Friday. Sangster explained that the project, known as Ima, […]

Tech giant Meta has unveiled ambitious plans to construct some of the largest artificial intelligence data centres on the planet,
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Meta plans $10bn subsea cable project to boost global infrastructure

Mark Zuckerberg’s Meta, the parent company of Facebook, Instagram, and WhatsApp, is reportedly set to invest over $10 billion in a vast subsea cable project stretching more than 40,000 kilometers. This major undertaking, still in its early stages, would mark Meta’s first fully owned and operated subsea cable, according to sources familiar with the company’s […]

Wise faces regulatory action over anti-money laundering controls
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Wise faces regulatory action over anti-money laundering controls

British money transfer firm Wise has been placed under a formal remediation plan by European regulators due to issues with its anti-money laundering controls, the Financial Times reported on Friday. A review conducted by the Belgian National Bank, which oversees Wise’s operations in Europe, found that the company lacked proof of address for hundreds of […]

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