Nigeria’s President Bola Ahmed Tinubu has approved a $75 million government investment in Flutterwave, signalling strong state backing for one of Africa’s most prominent fintech firms as it prepares for a $250 million initial public offering (IPO). The investment will be executed through Ministry of Finance Incorporated (MoFI), with sources indicating that the deal is nearing completion following months of negotiations between the company and government officials. Before giving the green light, authorities reportedly conducted extensive due diligence, engaging global auditing firms to scrutinise Flutterwave’s financials and operations. The move is aimed at strengthening transparency and boosting investor confidence ahead…
Author: Elvis Eromosele
Zenith Bank Plc has become the first Nigerian lender to surpass the ₦5 trillion market capitalisation mark, reinforcing its status as the country’s most valuable banking group. The milestone follows a sustained rally in the bank’s shares on the Nigerian Exchange Limited (NGX), driven by strong earnings performance and growing investor confidence, particularly around its planned listing on the London Stock Exchange (LSE) by 2027. Market data show the bank’s shares climbed to ₦124 at midweek trading, pushing its valuation to ₦5.09 trillion from ₦4.72 trillion. The rally has since held, with market capitalisation rising further to ₦5.22 trillion as…
Nigeria’s electricity distribution companies (DisCos) remitted ₦77.99 billion in the fourth quarter of 2025, achieving 91.19 per cent of their total payment obligations, according to the latest report by the Nigerian Electricity Regulatory Commission. The figure marks a decline from the previous quarter, signalling renewed concerns over liquidity and efficiency in the power sector. Data from the regulator shows that DisCos paid ₦77.99 billion out of a total invoice of ₦85.53 billion in Q4 2025. This represents a drop from Q3 2025, when ₦73.03 billion was remitted out of ₦76.77 billion, translating to a stronger performance rate of 95.13 per…
Apple Inc. has appointed John Ternus as its next Chief Executive Officer, marking a major leadership transition at the $4 trillion tech giant. Ternus will assume the role on September 1, 2026, succeeding Tim Cook, who will move into the position of executive chairman after more than a decade at the helm. The company said the appointment was unanimously approved by its board following a long-term succession plan. Cook will remain CEO through the summer, working closely with Ternus to ensure a seamless handover. Ternus brings over two decades of experience within Apple, having joined the company’s product design team…
The Lagos State Government has unveiled a new set of cybersecurity guidelines aimed at protecting businesses, public institutions, and residents from rising digital threats. The announcement was made by Gbenga Omotoso, the Commissioner for Information and Strategy, who said the framework is part of efforts to position Lagos as a secure and globally competitive digital hub. The move comes against the backdrop of growing cyber risks, with Nigeria estimated to lose about $500 million annually to cybercrime. Developed in collaboration with the Lagos State Cybersecurity Advisory Council, chaired by Fene Osakwe, the guidelines provide a practical roadmap for organisations to…
P+ Measurement Services, Nigeria’s leading independent media intelligence consultancy, has released its Q1 2026 Print Media Advertising & Placement Audit, reaffirming the continued relevance, credibility, and strategic value of print media in Nigeria’s evolving information ecosystem. At a time when early digital narratives predicted the decline of print, the findings show a different reality. Print media has not lost relevance. Instead, it has evolved into a trusted, high-impact channel that complements digital platforms, particularly for corporate communication, regulatory visibility, and premium brand positioning. Drawing insights from approximately 1,800 print publications across daily, weekly, and monthly titles, the report analysed advertising activity across 29 commercial banks,…
The Joint Admissions and Matriculation Board (JAMB) has announced the release of over 1.8 million results from the recently conducted Unified Tertiary Matriculation Examination (UTME), marking a significant milestone in the 2026 admissions cycle. The Board disclosed that the results, which cut across candidates from all states of the federation, were processed and released within a record timeframe, underscoring JAMB’s continued commitment to leveraging technology for efficiency, transparency, and credibility in Nigeria’s examination system. According to JAMB, candidates can access their results through designated channels, with the Board urging all candidates to follow official procedures to avoid misinformation and exploitation…
President Bola Ahmed Tinubu has approved the establishment of a new campus of the Nigeria Police Academy in Erinja, located in Yewa South Local Government Area of Ogun State, alongside a ₦15 billion take-off grant to drive the project. According to a statement by Bayo Onanuga, his Special Adviser on Information and Strategy, the move is in line with the Nigeria Police Academy (Establishment) Act, 2021, which provides for the expansion of the institution beyond its current base in Wudil, Kano State. The funding for the new campus will be sourced from the 2026 allocation of the Tertiary Education Trust…
The Nigerian Communications Commission (NCC) and the Central Bank of Nigeria (CBN) have signed a Memorandum of Understanding (MoU) that both organisations said would safeguard consumers against fraud while opening opportunities for them to leverage the potentials of the telecommunications and financial sectors. The MoU was signed as NCC and CBN inaugurated a Joint Committee on Payment Systems and Consumer Protection and a Joint Committee on Telecoms Identity Risk Management System (TIRMS) Portal. Dr Aminu Maida, Executive Vice Chairman and Chief Executive Officer of NCC, said the MoU provides a structured framework for cooperation in critical areas including payment system…
Dario Amodei, CEO of Anthropic, has warned that rapid advances in artificial intelligence could displace a large share of entry-level white-collar jobs within the next one to five years. Speaking in an interview with Fox News, Amodei said AI capabilities are evolving faster than many businesses and policymakers realise, with systems now able to perform tasks traditionally assigned to junior staff. These include summarising documents, generating ideas, and preparing financial reports—functions that form the backbone of early-career roles in sectors such as finance, consulting, and technology. His comments echo growing concerns from global institutions like the International Monetary Fund and…