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AI capable of changing Nigeria's financial sector - Ex-CBN ICT director
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AI capable of changing Nigeria’s financial sector – Ex-CBN ICT director

Artificial Intelligence holds substantial promise for enhancing Nigeria’s financial services sector, according to Hajiya Rakiya Shuaibu Mohammed, former ICT Director at the Central Bank of Nigeria. Speaking at the Nairametrics webinar titled “How to Make Money Using AI: Value Creations for Businesses, Entrepreneurs, and Governments” in July, Hajiya Rakiya outlined AI’s transformative impact across various […]

Nigeria, others spent $1.4trn on debt servicing in 2023 - World Bank
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FG partner W’Bank to unlock over $300bn in dead capital 

The Federal Government has established a partnership with the World Bank Group to raise land formalization to 50% over the next 10 years, in an effort to free up more than $300 billion in dead capital. This was disclosed by the Minister of Housing and Urban Development, Arc. Musa Dangiwa, during the Nigerian Liveable Cities […]

FG approves Air Peace for direct Nigeria-Brazil flights
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FG proposes 800% increase in aircraft navigation fees

The Nigerian federal government, through the Nigeria Airspace Management Agency, is set to propose an 800% increase in aircraft navigation fees, effective from September 1, 2024. This announcement was made by NAMA’s Managing Director, Mr. Umar Farouk, during the 28th League of Aviation and Airport Correspondents Conference in Lagos on Friday. Farouk explained that the […]

SpaceX commits $2bn to xAI in bold push
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SpaceX’s Falcon 9 cleared for space return

SpaceX’s Falcon 9 rocket has been authorized to resume space missions following a rare mid-flight failure, the Federal Aviation Administration announced. The FAA confirmed that the anomaly during the July 11 launch did not present any public safety risks, allowing the rocket to return to operations while the full investigation continues. SpaceX has indicated that […]

JP Morgan doubts $2tn US stablecoin growth forecasts
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JPMorgan Chase unveils AI tool for research analysis

JPMorgan Chase has introduced a new generative artificial intelligence tool, which it claims can perform the duties of a research analyst. According to a Financial Times report, the bank has begun rolling out its proprietary version of OpenAI’s ChatGPT to employees. The financial giant, which is the largest bank in the United States, has made […]

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Guinness Nigeria record N73.6b loss amid Tolaram takeover

Guinness Nigeria Plc recorded a pre-tax loss of N73.6 billion for the fiscal year ended June 30, 2024, due to the negative impact of currency devaluation on bottom lines. This was disclosed in the financial statement of the company filed with NGX on Saturday. The brewery recently acquired a new owner when parent company Diageo […]

Osun resubmits state's nomination for bank role, challenges CBN’s rejection
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Naira decline: CBN disburses $148m to 29 authorised dealers

The Nigerian Central Bank has distributed $148 million to 29 authorized dealers as part of its efforts to stabilise the foreign exchange market in the wake of the naira’s recent depreciation. A statement posted on the apex bank’s website on Friday noted that the sales were made to the dealers on Monday, July 22 and […]

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Malala Fund invests $7.8m in educational programs in Nigeria 

The Malala Fund has announced an investment of $7.8 million in partner organizations and their educational programmes across Nigeria. The Chief Executive Officer of the Malala Fund, disclosed this investment in a statement released by the Fund’s Communications Manager, Nankwat Dakum, on Thursday in Abuja, according to Nairametrics. Alfi stated that this commitment demonstrates the […]

OpenAI makes ChatGPT free, expands access without sign-ups
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OpenAI announces new search engine, SearchGPT

OpenAI has introduced the prototype of its new search engine, SearchGPT. The browser aims to deliver users fast and timely answers, supplemented with clear and relevant sources. Eventually, OpenAI plans to integrate SearchGPT into its ChatGPT chatbot. This development poses a potential challenge to Google’s dominance in the search engine market. Since ChatGPT’s launch in […]

NNPCL reports N2.69trn in tax expenses for 2023
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NNPC website crashes over job applications traffic

The Nigerian National Petroleum Company Limited website has experienced technical difficulties due to an overwhelming number of job applications, causing slow load times and access issues for prospective applicants. This disruption follows NNPC’s recent announcement of a major recruitment drive, seeking skilled individuals for various positions within the company. The response has been so robust […]

NIGCOMSAT doubles revenue in 2024 H1 — Minister
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NIGCOMSAT doubles revenue in 2024 H1 — Minister

The Minister of Communications, Innovation, and Digital Economy, Bosun Tijani, has announced that Nigeria Communication Satellite Limited has achieved revenues twice that of its total for 2023 in just the first half of 2024. This revelation came during a Twitter space titled Ministerial Engagement on National Issues on Thursday. Highlighting the progress under President Bola […]

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