Four global technology firms, Lakeba Group (Australia), Next Digital (Nigeria), AqlanX (UAE), and Agentic Dynamic (Netherlands), have announced the formation of a new joint venture, AfricAI, aimed at developing sovereign artificial intelligence solutions tailored for the African market. The initiative, launched in Nigeria on August 18, 2025, marks a significant step toward strengthening the continent’s
India’s state-owned refineries have stepped up purchases of Nigerian crude, even as Nigeria’s $20 billion Dangote Petroleum Refinery increasingly relies on oil imports from the United States. The development, described by industry watchers as an “oil trade irony,” underscores the complex interplay of geopolitics, pricing, and supply chain realities in the global crude market. Under
Gov. Babajide Sanwo-Olu of Lagos State has unveiled the Lagos State Access to Finance for SMEs through Cooperatives (LASMECO) to provide access to finance for Small and Medium Scale Enterprises (SMEs) and registered cooperative societies in the state. Sanwo-Olu unveiled the initiative at the Adeyemi Bero Auditorium, Alausa, Ikeja, on Wednesday in partnership with Bank
The Economic and Financial Crimes Commission (EFCC) has confirmed that funds related to the cryptocurrency trading platform Crypto Bridge Exchange (CBEX) scheme have been traced to at least three to four countries. EFCC chairman, Ola Olukoyede, disclosed this during an interview aired on recently; however, he withheld the names of the countries. “We have been
Abuja, Nigeria – Nigeria’s foreign exchange (FX) reserves declined by $1.31 billion in February 2025, despite a notable appreciation of the naira against major foreign currencies. Data from the Central Bank of Nigeria (CBN) shows that the reserves fell from $39.72 billion on January 31 to $38.42 billion by February 28, marking a 3.3 percent
