Akinwumi Adesina, President, African Development Bank (AfDB), has said that Africa will need 56 million new homes to close the housing gap on the continent. Adesina, who noted that challenges are not unique to Africa, emphasised that the continent has various investment opportunities that the world needs to see. According to him, this made it crucial for the launch of the Africa Investment Forum (AIF) to showcase these opportunities and attract investments, as the forum brings together financial ecosystems from Africa, Europe, America, and Asia. The AfDB president said that in agriculture, 65 per cent of the world’s remaining arable…
Author: Elvis Eromosele
The Central Bank of Nigeria (CBN) has sanctioned Deposit Money Banks (DMBs) for failing to make naira notes available through automated teller machines (ATMs), during the yuletide season. Each bank was fined N150 million for non-compliance, in line with the CBN’s cash distribution guidelines, following spot checks on their branches. The enforcement action follows repeated warnings from the CBN to financial institutions to guarantee seamless cash availability, particularly during periods of high demand. The affected banks include Fidelity Bank Plc, First Bank Plc, Keystone Bank Plc, Union Bank Plc, Globus Bank Plc, Providus Bank Plc, Zenith Bank Plc, United Bank…
In a groundbreaking move to bolster consumer protection and foster fair competition in Nigeria’s telecommunications sector, the Nigerian Communications Commission (NCC) and the Federal Competition and Consumer Protection Commission (FCCPC) have officially signed a Memorandum of Understanding (MoU). The ceremony, held at the FCCPC headquarters in Abuja, marked a significant milestone in regulatory collaboration aimed at enhancing consumer welfare and market efficiency. Speaking at the event, Dr. Aminu Maida, Executive Vice Chairman, NCC, described the partnership as a strategic alignment of two pivotal regulatory institutions committed to protecting Nigerian consumers. “This MoU is a testament to our shared vision of…
i-Fitness, West Africa’s leading and fastest-growing fitness chain, has announced the launch of its newest branch in Ogudu, Lagos. Designed as an end-of-year gift to the residents of Ogudu and its neighbouring communities, this branch opening is a celebration of health, wellness, and community spirit. The new Ogudu branch marks i-Fitness’s 25th location nationwide and 22nd in Lagos, reinforcing the brand’s commitment to bringing premium fitness experiences closer to Nigerians. This milestone aligns with the company’s mission to make fitness accessible while inspiring individuals to embrace healthier lifestyles. Speaking on the launch, Mr Foluso Ogunwale, Founder and CEO of i-Fitness…
Telecom users in Nigeria are bracing for a tariff increase as following months of rumoured approval by the Federal Government, Dr. Bosun Tijani, Minister of Communications, Innovation, and Digital Economy, revealed after a stakeholders’ meeting in Abuja that new rates will soon be announced. He argued however, that the proposed 100 per cent hike by Mobile Network Operators (MNOs) will not be fully approved. In his words: “You’ve seen agitation from these companies for a 100 per cent tariff increase. But it will not happen at that scale. The Nigerian Communications Commission (NCC) will release a clear directive soon.” The…
The University of Lagos (UNILAG), is set to confer Honorary Degree of Doctor of Science (D. Sc) on the Director-General of the World Trade Organisation (WTO), Dr. Ngozi Okonjo-Iweala, at its 55th convocation. No fewer than 16,409 students will graduate during the week-long activities scheduled to commence with a Juma’at service at the institution’s Central Mosque on January 10 and end on January 17. The institution’s Vice Chancellor, Prof. Folasade Ogunsola during a Pre-Convocation news briefing on Wednesday, said former Gov. Babatunde Raji Fashola of Lagos State will be the Chairman of the occasion. The Vice-Chancellor said that the Convocation…
In a groundbreaking event underscoring the importance of cross-border collaboration, the Atlanta Black Chambers (ABC) and the Canadian Black Chamber of Commerce (CBCC) have signed a Memorandum of Understanding (MOU) to promote mutual economic growth and opportunities for Black-owned businesses. The virtual signing ceremony marked a milestone in fostering international cooperation, economic inclusivity, and shared prosperity. Speaking at the event, Melvin Coleman, President and CEO of the Atlanta Black Chambers, highlighted the significance of the collaboration: “Valuable relationships should start with our closest neighbours. Working together will inspire progress in our communities. Thanks to all who made this possible; this…
Microsoft, global software giant, has announced plans to invest a substantial $80 billion in the construction of Artificial Intelligence (AI)-focused data centres throughout 2025. The aim of this investment is to develop cutting-edge data centres capable of handling the immense processing power required for AI workloads. These specialized facilities will be crucial for training and deploying advanced AI models, enabling Microsoft to enhance its AI-powered services and applications. According to Brad Smith, Microsoft’s Vice Chair and President, “Artificial intelligence is the electricity of our age, and the next four years can build a foundation for America’s economic success for the…
In a world where experience often trumps innovation, a new generation of leaders is rewriting the playbook, proving that youth can drive transformative change. Among these pioneers is Gossy Ukanwoke, one of Nigeria’s youngest and most influential Managing Directors. His journey is proof to the fact that age is no barrier to achieving greatness when vision, resilience, and leadership converge. Pioneering Change at an Early Age Gossy Ukanwoke’s leadership story began long before BetKing. He made his mark as a groundbreaking entrepreneur in his 20s by introducing BAU, Nigeria’s first online university, at a time when digital education was virtually…
In furtherance of efforts to boost data protection in the country, the Nigeria Data Protection Commission (NDPC) has revealed that it would start imposing heavy fines against businesses that are handling Nigerians’ data, otherwise referred to as data controllers and data processors, starting this year, 2025. Dr. Vincent Olatunji, National Commissioner of the Commission, disclosed this in his outlook for the year. According to Dr Olatunji, “NDPC up until now has not fined any company but that will start this year as it begins massive enforcement of the Nigeria Data Protection Act (NDPA). “For data controllers and processors, there is…