The Trump administration has launched a nationwide savings programme designed to give American children an early start in investing, but economists and tax experts are divided over whether the initiative will significantly improve financial security for future generations. Known as Trump Accounts, the scheme offers every eligible child under the age of 18 access to a government-backed investment account, with babies born between 2025 and 2028 receiving a $1,000 federal contribution to kick-start their savings. The programme was formally launched this week with President Donald Trump ringing the opening bell of the New York Stock Exchange from the Oval Office—a…
Author: Elvis Eromosele
Meta has withdrawn a newly launched AI image feature just days after its debut, following widespread criticism over privacy and consent concerns linked to Instagram users’ photos. The feature was introduced as part of Muse Image, Meta’s new AI image-generation tool unveiled on Tuesday. It allowed users of the Meta AI chatbot to tag public Instagram accounts and generate AI-created or altered images using content from those accounts. However, the rollout triggered an immediate backlash after users discovered that public Instagram accounts were automatically opted into the feature, meaning their images and likenesses could be used to create AI-generated content…
Oge Elumelu, entrepreneur and youth advocate, has launched a new internship initiative aimed at connecting young Nigerians with employers, equipping them with workplace skills and improving their employment prospects. The programme, unveiled during the inaugural Africa Everywhere Festival in Lagos, seeks to bridge the gap between education and employment by providing graduates with practical work experience and direct access to recruiters. Speaking at the event, Elumelu said the initiative grew out of her podcast, African Everywhere Conversations with Oge, launched in September 2024 to expose young Africans to opportunities in industries such as finance, technology, fashion, beauty and entertainment. She…
The Lagos State Government has signed a Memorandum of Understanding (MoU) to develop an underwater water transmission pipeline beneath the Lagos Lagoon to improve potable water supply to the rapidly expanding Lekki Concession Area. The agreement, signed with China Harbour Engineering Company (CHEC) and Naston Engineering Nigeria Limited, marks the first step in a broader water infrastructure programme aimed at expanding access to clean water across the corridor. Tokunbo Wahab, Lagos State Commissioner for the Environment and Water Resources, announced the development after the signing ceremony. According to Wahab, the one-year MoU, which takes immediate effect, provides the framework for…
The images of relieved parents embracing their children after 56 harrowing days in captivity were among the most emotional scenes Nigeria has witnessed this year. The rescue of 46 abducted pupils and teachers from Oriire Local Government Area of Oyo State brought an end to nearly two months of fear, uncertainty and national anxiety. For the victims, their families and the communities of Ahoro-Esiele and Yawota, the return of their loved ones was nothing short of a miracle. There is every reason to celebrate the successful operation by security agencies. Bringing home dozens of hostages alive after such a prolonged…
The Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) has called for stronger implementation of good governance principles and deeper collaboration between the public and private sectors to accelerate Nigeria’s economic growth and attract investment. Speaking at a press conference ahead of the 3rd National Corporate Governance Summit, Uto Ukpanah, ICSAN President and Chairman of Council, said Nigeria’s challenge is no longer the absence of governance laws and frameworks but ensuring they deliver measurable economic and institutional results. According to her, effective governance should translate into stronger institutions, increased investor confidence, job creation and improved living standards for Nigerians.…
A coalition of shareholders has urged the Central Bank of Nigeria (CBN) to reconsider aspects of its proposed capital requirements for Financial Holding Companies (HoldCos), warning that the new rules could force repeated capital raising, trigger investor fatigue, and undermine confidence in Nigeria’s banking sector. In a submission on the CBN’s Exposure Draft of the Revised Guidelines for Licensing and Regulating Financial Holding Companies in Nigeria, the shareholders said they support the apex bank’s efforts to strengthen financial stability but expressed concern over provisions that could require additional capital at multiple holding company levels. The comments were submitted ahead of…
Prince (Dr.) Ifalade Oyekan, FISN, General Manager of the Lagos State Neighbourhood Safety Agency (LNSA), has called on Nigerian returnees to embrace hope, resilience, and self-reliance as they rebuild their lives following their repatriation. Prince Oyekan made the call while delivering a goodwill message at a reintegration workshop organised by Co-Create NGO for Nigerian returnees from Lagos and Ogun States. Addressing the participants, the LNSA boss encouraged them to view their return not as a setback but as an opportunity for a fresh beginning. He urged them to take advantage of available opportunities by acquiring vocational skills, pursuing legitimate means…
India’s nationwide rollout of petrol blended with 20% ethanol (E20) is facing growing resistance from motorists, many of whom say the fuel is reducing vehicle performance and increasing maintenance costs, despite government assurances that it is safe. The policy, introduced in April, made E20 the standard petrol available at fuel stations across the country, replacing the previous E10 blend. The move is part of India’s strategy to cut dependence on imported crude oil, reduce carbon emissions and support domestic ethanol production from crops such as sugarcane and maize. However, the transition has triggered widespread criticism, particularly from owners of older…
Slovakia will introduce sweeping immigration reforms from July 15, 2026, extending the validity of national visas, giving foreign workers more time to find new jobs after losing employment, centralising visa processing and imposing stricter documentation requirements for work permit applicants. The changes, announced by Slovak authorities, are aimed at streamlining immigration procedures while strengthening oversight of residence and work permit applications. The reforms will affect foreign nationals relocating to Slovakia for employment, study and business. One of the key changes is the extension of the validity of Slovakia’s national visa from 90 days to 120 days for applicants entering the…