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…
News
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…
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.…
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…
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…
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…
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…
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…
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…
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…
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…
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,…