Economy

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22-February-2024

Lagos Plans Daily Free Meal for Residents, Markets for Cheap Food Items

By Modupe Gbadeyanka About 1,500 residents of Lagos State will have access to one free meal per day to cushion the effect of the economic hardship in the country, Governor Babajide Sanwo-Olu has declared. Mr Sanwo-Olu, while answering questions from journalists during a media chat on Thursday, said his administration would establish at least 42 Sunday Markets across the metropolis for cheap food items, though the commencement of this initiative is yet to be revealed. There has been a pocket of demonstrations across the country over the rising hunger in Nigeria as a result of high inflation and the devaluation

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22-February-2024

Nigeria Posts 2.74% GDP Growth in 2023

By Adedapo Adesanya Nigeria’s economy grew by 2.74 per cent in 2023, lower than the 3.1 per cent posted in 2022. This was disclosed by the National Bureau of Statistics (NBS) in its latest Nigeria Gross Domestic Product Q4 2023 Report released on Thursday. While the country’s economic growth was lower than the preceding year, it grew by 3.46 per cent (year-on-year) in real terms in the fourth quarter of 2023. This growth rate is lower than the 3.52 per cent recorded in the fourth quarter of 2022 and higher than the third quarter of 2023 growth of 2.54 per

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22-February-2024

Senate Confirms Cardoso, Yuguda, 10 Others as CBN MPC Members

By Adedapo Adesanya The Senate has confirmed the appointment of 12 persons as members of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) ahead of next week’s eagerly awaited interest rate-setting meeting. This confirmation comes after a report of the Committee on Banking, Insurance and other Financial Institutions was considered during plenary on Thursday. The confirmation of the new MPC members comes days before the first policy meeting of the apex bank under the new CBN governor, Mr Olayemi Cardoso, who by his position will be the chairman of the committee. The meeting has been slated

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22-February-2024

NPPAN Targets $10bn Contribution to Nigeria’s GDP via Palm Biomass

By Adedapo Adesanya The federal government will sign a Memorandum of Understanding (MoU) with the Malaysian government to develop palm biomass in the country as part of efforts to utilise one of the undertapped farm produces in the country. Mr Alphosus Inyang, President of the National Palm Produce Association of Nigeria (NPPAN), made this disclosure, saying palm biomass is a multi-billion dollar economy. “Biomass simply means agricultural waste and we are talking about turning waste into wealth,’’ he said in an interview with the News Agency of Nigeria (NAN) on Wednesday in Abuja. The president said NPPAN was working with

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22-February-2024

Dangote Sugar to Borrow N50bn from Commercial Paper Sales

By Aduragbemi Omiyale The management of Dangote Sugar Refinery Plc is requesting about N50 billion from capital market investors for its short-term working capital and funding requirements. The sugar miller will get the funds from investors through the sale of commercial papers and has promised to repay in about nine months’ time. The CP sales will be conducted under its N150 billion commercial paper issuance programme approved by the regulatory authorities. It is the first series the company is selling this time and it specifically has a tenor of 266 days with a discount rate of 15.92 per cent and

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22-February-2024

NASD Unlisted Security Index Depreciates by 0.77%

By Adedapo Adesanya A 0.77 per cent loss was suffered by the NASD Over-the-Counter (OTC) Securities Exchange on Wednesday, February 21 following profit-taking in three stocks. Aradel Holdings Plc went down by N49.50 during the session to close at N2,476.50 per share versus the previous day’s N2,526.00 per share, Central Securities Clearing System (CSCS) Plc depreciated by 37 Kobo to end the day at N19.63 per unit compared with Tueday’s closing price of N20.00 per unit, and FrieslandCampina Wamco Nigeria Plc deflated by 7 Kobo to settle at N74.43 per share, in contrast to the N74.50 per share it traded

General

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22-February-2024

WINBAFRICA Plans Big for 10th Anniversary

By Modupe Gbadeyanka All is now set for the 10th anniversary of WINBAFRICA themed Bridging the Gap: Celebrating a Decade of Nation-building. The organisation is gathering stakeholders together on Monday, February 26, 2024, for the event at the Alliance Francaise in Ikoyi, Lagos. The group was formed in 2014 and has since then promoted girl-child education and empowered women and young girls in critical thinking and leadership skills in secondary schools across Africa. As part of activities lined up for this year’s celebration, WINBAFRICA organised an annual school debate competition and scholarship programme for 20 young girls across the continent.

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22-February-2024

Nashaira Belisa Takes Project OMI to Lagos Orphanage, School

By Adedapo Adesanya  Miss World Curacao 2024, and Curaçao’s delegate to Miss World 2024 in India, Miss Nashaira Belisa, an influential humanitarian and businesswoman, has launched PROJECT OMI. OMI, meaning water in the Yoruba Language, is a transformative initiative focused on addressing the critical need for clean water in orphanages and communities across Nigeria and Ghana. She is using this initiative to change the world, one drop of water at a time. The project, aptly named OMI, is a testament to Belisa’s commitment to making a lasting impact beyond the realm of beauty pageantry. Belisa’s dedication to clean water accessibility

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22-February-2024

AFCON 2023: Nigerian Content Creators See 200% Rise in Revenue, Views

By Adedapo Adesanya Content creators in Nigeria saw a 200 per cent increase in views and revenue between December 2023 and February 2024, a new study shared with Business Post showed. According to new data released by StarNews Mobile, an African video streaming platform, content creators across Africa experienced a 300 per cent surge in revenues during the 2023 Africa Cup of Nations (AFCON) held between January 13 and February 11, 2024, reaffirming the massive surge in consumption of hyper-localized content from the continent. Based on metrics from StarNews Mobile’s platform, creators in Nigeria were only outshone by their peers

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22-February-2024

Salesforce Introduces Clean Energy Programme Management

By Modupe Gbadeyanka A new solution to help electric, gas, and water utilities increase customer participation in clean energy programmes has been introduced by Salesforce. The initiative known as Clean Energy Programme Management for Energy & Utilities Cloud streamlines the launch, management, and oversight of energy efficiency, conservation, electrification, and EV charging programs. It helps utilities manage clean energy initiatives with connected data — like energy usage and billing information — and personalised engagement to promote relevant programmes. This platform also digitises and simplifies the application process for customers, participating contractors, and utility program staff to help increase clean energy

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21-February-2024

Oyo Reopens Shri-Balaji After Closure Over Pollution

By Aduragbemi Omiyale The industrial company sealed earlier this month nonconformity and adherence to environmental laws of Oyo State, Shri-Balaji Industries Limited, has been reopened. The facility was unsealed on Wednesday on the directive of the Commissioner for Environment and Natural Resource, Mr Abdulmojeed Mogbonjubola. The company, which engages in the recycling of waste tyres to produce Pyrolysis oil and carbon black and steel wire as by-products, was closed by the state government to protect the lives of residents of the area. A statement made available to Business Post disclosed that for it to be reopened, Shri-Balaji paid a fine

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21-February-2024

Foundation Urges Nigerians to Adopt Waste Management Hierarchy

By Aduragbemi Omiyale A recycling organisation, Turn Plastic Recycling Foundation, has encouraged Nigerians to embrace the waste management hierarchy to make the country a zero-waste society. The Project Manager for the firm, Mr Leo Nwofa, while giving a summary of the project journey in the past two years of the foundation, said to save the planet, people must adopt the system of proper waste disposal for recycling after use. The waste management hierarchy gives top priority to waste prevention, followed by reuse, recycling, recovery and finally disposal. Speaking at an event to mark the second anniversary of Turn Plastic Recycling

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Feature / Oped

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20-February-2024

Navigating the Complexities of Media Monitoring: Strategies for Effective Brand Media Intelligence Gathering

By Philip Odiakose In today’s media landscape, the ability to monitor and analyze media coverage is crucial for brands seeking to stay ahead of the competition and maintain their reputation. However, the sheer volume and diversity of media sources, coupled with the ever-evolving nature of communication channels, present significant challenges for effective media monitoring. As the Chief Media Analyst at P+ Measurement Services, a leading Media Monitoring and Intelligence consultancy, I have firsthand experience in navigating these complexities. In this article, I will share key strategies for successfully gathering brand media intelligence amidst the intricacies of modern media environments. 1. Define

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19-February-2024

Christianity: The Social Media War Against RCCG and Adeboye

By Nneka Okumazie Africa is a continent where the little that people have is never enough. What people have is never maximized for purposes. The problem is always that more is not available. So, when things get worse, it is never because of a lack of prudence, since several opportunities in the past, when things were easier, had been lost. Africa is a continent where those who observe that they are better than others in some respects, forget to notice how many more are far better than they are. They sit on how they are better and lose out on

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19-February-2024

From Transaction to Transformation; The NDDC Way

By Jerome-Mario Utomi A peep into the profile of members of the present board and management of the Niger Delta Development Commission (NDDC), an agency conceived in the year 2000, as a fresh beginning and a more focused effort on development in the Niger Delta with its mission chiefly to sustainably develop the region in terms of infrastructure and human capital, will reveal that it is arguably filled with some of the best trained and most highly skilled personalities from the Niger Delta region, in the history of the commission. For instance, Chiedu Ebie, a lawyer, technocrat, former commissioner, former

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16-February-2024

BRICS and the Global South Cooperation

By Professors Abdullahi Y. Shehu and Maurice Okoli Introduction Since the collapse of the Soviet Union in 1992 ‘the tectonic plates of geopolitics have been shifting’ and with current geopolitical tensions, including the Russian-Ukrainian conflict, the Israeli-Hamas war, new alliances and potential rivalry among world powers seeking for influence in Africa and other regions of the world, ‘we may see the world becoming more multipolar’. Despite the plethora of multilateral institutions, multipolarity has become a cliché as member states forge new alliances to address perceived injustices in the existing system. BRICS emerged from the Russia-India-China strategic triangle called RIC. The group

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14-February-2024

6 AI Tools to Help You Celebrate Valentine’s Day the African Way

Valentine’s Day is one of the most daunting gift-giving holidays. You want to get something for your partner, of course, but also you like to let your friends and family (and even your dogs) know how much they’re loved. It’s a tricky holiday: The perfect Valentine’s Day gift is sentimental but not saccharine-sweet. Genuinely useful but not overly practical. It has a personal touch — but could potentially be replicated for a friend or two (or three). If you need a little help, here are six AI-powered Google tools to help you find the perfect gift. Search (and shop) what

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13-February-2024

Aleph Presents Unique Strategies to Grow Business This Ramadan

As Muslims around the world get ready to celebrate the holy month of Ramadan, Aleph (formerly known as Ad Dynamo by Aleph) presents insights for businesses on how best to leverage Meta platforms for business growth. Did you know that… Ramadan’s focus on community and connection also enables brands to connect in a unique way with the audience? The research also shows that 91% of social media users in Nigeria like to see content that promotes community and togetherness on Facebook and Instagram. Advertising that respects and highlights Ramadan’s traditions, businesses can enter the conversation in a new and positive

Banking

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21-February-2024

FG to Restructure, Recapitalise Bank of Agriculture for Better Value

By Adedapo Adesanya The federal government has revealed plans to recapitalise and restructure the Bank of Agriculture (BOA) to bolster Nigeria’s agricultural sector and achieve national food security. This was one of the core revelations made by the Vice President, Mr Kashim Shettima, during the first meeting of the National Council on Privatisation (NCP) for the year 2024 at the Presidential Villa, Abuja on Tuesday. He said there is a central role that BOA could play in achieving national food security, citing its extensive branch network across all senatorial districts in the country. Mr Shettima, however, expressed concern about the

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16-February-2024

Ecobank Seeks Entries for International Art Exhibition +234Art

By Modupe Gbadeyanka Emerging young Nigerian artists have been invited to participate in an international art exhibition organised by Ecobank Nigeria in partnership with Soto Gallery. The 10-day event tagged +234Art, is scheduled to commence on Friday, March 22, 2024, and is dedicated to nurturing and uplifting the burgeoning art industry in Nigeria by providing a platform to support emerging artists and encourage increased interest in art acquisition, thereby contributing to the growth and prosperity of the local art sector and its international recognition. The art fair will among other things seek to create a sustainable platform for young and

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14-February-2024

Access Bank to Give Customers Prizes in Love is More Campaign

By Modupe Gbadeyanka Access Bank Plc has disclosed that its customers would win different prizes in its MyAccessMoreValetineStory designed to reward them for their loyalty. The campaign was launched to make the love season memorable for its valued customers, a statement from the lender explained. It stated that special Valentine’s offers, themed Love is More, were introduced during this period to spread love and financial well-being all through February. “Access Bank is committed to enhancing the financial well-being of our customers while celebrating love in all its forms. “These Valentine’s offers are a token of our appreciation for their continued

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13-February-2024

Tunisia Joins Nigeria, Others to Adopt PAPSS

By Adedapo Adesanya Tunisia, through its central bank, Banque Centrale de Tunisie (BCT), has joined the Pan African Payment and Settlement System (PAPSS), making it the first North African country and 13th country to be boarded on the platform. PAPSS, developed by the African Export-Import Bank (Afreximbank) in collaboration with the African Union (AU) and the African Continental Free Trade Area (AfCFTA) Secretariat, facilitates real-time settlement of intra-African trade and payments, in African currencies, across the continent. The platform unites central banks from across Africa and seeks to address the existing challenges faced by African businesses and individuals in accessing

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11-February-2024

Profile of Late Access Holdings CEO Herbert Wigwe

By Modupe Gbadeyanka Dr Herbert Wigwe was a visionary leader, philanthropist, and the founder of Wigwe University. In his professional life, he was the Group Chief Executive Officer of Access Holdings Plc (also known as Access Corporation), a multi-national financial services organization that offers commercial banking, lending, payment, pension, insurance, and asset management services. Access Corporation is headquartered in Lagos, Nigeria and operates through a network of more than 600 branches and service outlets, spanning three continents, 18 countries, and 50+ million customers managed by over 28,000 employees. Access Bank, the corporation’s banking business, is one of Africa’s largest retail

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10-February-2024

NIBSS Suffers Downtime, Affects Interbank Transfers

By Aduragbemi Omiyale There are strong indications that the instant payment transfer channel of the Nigeria Inter-Bank Settlement System (NIBSS) Plc is currently down. This has reportedly led to the difficulty experienced by banking customers in sending funds to other bank users. It was gathered that the issue started on Saturday, and as of the time of filing this report, it was yet to be resolved. The NIBSS has yet to issue a statement to allay customersfears over their inability to send money to people using banks different from theirs. The situation has created panic among bank users, who are

Jobs

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22-February-2024

Purple Real Estate Welcomes Umar, Oladimeji to Board

By Adedapo Adesanya Nigerian real estate platform, Purple Real Estate Income Plc, has made significant changes to its board, marking a pivotal moment in the company’s growth strategy amid current macro headwinds. The reshuffle brings on Mr Aminu Umar and Mr Olasunkanmi Oladimeji to join the board as Non-Executive Director and Executive Director. The duo of Mr Umar and Mr Oladimeji will take over from Mrs Osareme Archibong and Mrs Fiona Ahimie, both outgoing Independent Non-Executive Directors, according to notice on NASD OTC Securities Exchange, where the company trades its securities. Commenting on the changes, the Chairman of the board,

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21-February-2024

Tinubu Appoints Kemi Nanna Nandap as Comptroller-General of Immigration

By Modupe Gbadeyanka The Deputy Comptroller-General (DCG) of the Nigeria Immigration Service (NIS), Ms Kemi Nanna Nandap, has been elevated to the post of the Comptroller-General of the agency. This followed her appointment by President Bola Tinubu, according to a statement issued by his spokesman, Mr Ajuri Ngelale, on Wednesday. The presidential aide disclosed in the statement today that the appointment of Ms Nandap will take effect from Friday, March 1, 2024. She is taking over from Mrs Caroline Wura-Ola Adepoju, whose term in office expires on February 29, 2024, the disclosure said. “President Bola Tinubu has approved the appointment

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14-February-2024

Africa Finance Corporation Appoints Emeka Emuwa Board Chairman

By Adedapo Adesanya African infrastructure solutions provider, Africa Finance Corporation (AFC), has announced the appointment of Mr Emeka Emuwa as Chairman of its Board of Directors as it seeks to expand its operations across the continent and build partnerships through international collaborations. Mr Emuwa brings 30 years of experience in the banking sector to the table, including a 25-year career with Citibank, as well as a stint in Union Bank of Nigeria. He has been a part of AFC’s Board since 2015, previously serving as the Chairman of the Board Risk and Investment Committee, and as a member of the

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13-February-2024

Access Holdings Selects Bolaji Agbede as Acting Group CEO

By Aduragbemi Omiyale Ms Bolaji Agbede has been appointed as the acting group chief executive of Access Holdings Plc, a statement from the organisation on Monday disclosed. Her appointment followed the death of the group CEO of the company, Mr Herbert Wigwe, in a helicopter crash in the United States over the weekend. Mr Wigwe died along with his wife, son, pilots, and the former group chairman of the Nigerian Exchange (NGX) Group Plc, Mr Abimbola Ogunbanjo. In the statement, Access Holdings emphasised that the appointment of the acting group CEO was subject to the approval of the Central Bank

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08-February-2024

Former Polaris Bank Director Segun Opeke Joins Wema Bank Board

By Aduragbemi Omiyale A former executive director at Polaris Bank Limited, Mr Segun Opeke, has joined the board of Wema Bank Plc as an executive director. He is joining the mid-level lender alongside a former chief executive of Galaxy Backbone Limited, Mr Yusuf Kazaure, who was appointed as a non-executive director in a bid to significantly enhance the wealth of knowledge within the bank’s board. Mr Opeke, who has worked in the banking sector for over 35 years, studied Banking and Finance at the University of Lagos and obtained an MBA from the same school in 1999. He started his

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07-February-2024

Finverity Elevates Alex Fenechiu, Symmie Swil

By Modupe Gbadeyanka The co-founder and former Chief Operating Officer (COO) of Finverity, Mr Alex Fenechiu, has taken over as the Chief Revenue Officer (CRO) of the organisation. A statement from the firm on Wednesday said Ms Symmie Swil is the new COO and would be expected to provide the company with operational excellence with her impressive track record in business banking. It was disclosed that her promotion was in recognition of her invaluable contribution as Head of Operations since joining Finverity in 2023. She has an impressive history of driving significant growth, whilst instilling operational excellence, notably expanding Starling

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Showbiz

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17-February-2024

5 Reasons to Step Up Your GOtv Subscription

In the world of entertainment, there’s always a desire for more. More excitement, more variety, more value, and more entertainment. With GOtv’s Step Up offer, subscribers can now take their entertainment experience to the next level without breaking the bank. Here are five compelling reasons why stepping up your GOtv subscription is the ultimate choice for maximum enjoyment. Access to Premium Content: Say goodbye to FOMO (Fear of Missing Out) and hello to uninterrupted enjoyment of your favourite shows and channels. The Step Up offer presents a golden opportunity to seamlessly transition into gaining access to premium content. Imagine indulging

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12-February-2024

Hotel Labamba to Premiere on Prime Video February 15

By Modupe Gbadeyanka Lovers of movies will from Thursday, February 15, 2024, have the opportunity to watch a new captivating film, Hotel Labamba, on Prime Video. The flick, produced by Laide Daramola, and directed by Biodun Stephen, features several notable faces like Lateef Adedimeji, Bimbo Ademoye, Lilian Afegbai, Bolaji Ogunmola, Blessing Jessica Obasi, and Femi Adebayo, among others. Business Post reports that Hotel Labamba, released last year, follows the murder of a popular Instagram influencer, Sexy Ella, played by Lilian Afegbai, in a secretive hotel known only to a select few. With everyone a suspect, the pressure is on the

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12-February-2024

GAC Motor Celebrates Funke Akindele for ‘A Tribe Called Judah’ Feat

By Modupe Gbadeyanka It was a memorable day for a movie star, Funke Akindele, on Wednesday, February 7, 2024, when a leading automobile brand, GAC Motor Nigeria, stakeholders in Nollywood together to celebrate the feat achieved by the actress through her new flick titled A Tribe Called Judah. The film smashed the Box Office in Nigeria as the movie with the highest revenue of N1.2 billion. To recognise and reward her contribution to the industry, the filmmaker was presented with a brand new GAC GS4 Luxury SUV at the GAC Motor G-Style Showroom in Lagos. Present to witness this event

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11-February-2024

Stakeholders Reject Musawa’s Africa Grammy Plan

By Modupe Gbadeyanka The proposal being made by the Minister of Art, Culture and Creative Economy, Ms Hannatu Musawa, for an African version of the Grammy Awards has been rejected by stakeholders in the music industry. They have called on President Bola Tinubu to halt the proposed partnership between the Nigerian and the American Grammy Awards, saying it is not what the sector needs at the moment, expressing concerns that the proposed African Grammy Awards could overshadow existing continental music awards and platforms. It was reported that Ms Musawa was on the verge of finalising a deal with the American

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06-February-2024

YouTube Music, Premium Subscribers Hit 100 million

By Modupe Gbadeyanka Subscribers of YouTube Music and Premium have surpassed 100 million worldwide, a statement from the video-viewing platform has revealed. Recall that in 2015, YouTube introduced a new subscription service alongside a brand new app, YouTube Music, for music lovers and fans of the platform. It was targeted at those who wanted more choice in how they spent time on YouTube, allowing them to enjoy the platform without interruptions, background play and downloads, and a full music service with the world’s largest catalogue The subscription service and the application have been embraced by YouTubers in more than 100

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06-February-2024

Africa Magic Premieres New Local Series, Game Show this February

Africa Magic has unveiled two new local series, Grandpa Knows Best and Buri, as well as a new game show, Siblings Challenge, as part of its programme lineup this February. The dramedy series Grandpa Knows Best premieres Saturday, February 3 and the Siblings Challenge game show premieres on February 17 on Africa Magic Family (DStv 154; GOtv 7). Buri begins on the 23 February on Africa Magic Hausa (GOtv 3). Dr Busola Tejumola, Executive Head of Content and West Africa Channels at MultiChoice, in a statement released by the company, said the new additions portray MultiChoice’s commitment to providing diverse

Technology

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19-February-2024

Interswitch Partners Organisers for 2024 Innovate AI Conference

By Aduragbemi Omiyale The 2024 Innovate AI Conference scheduled to take place on February 23 and 24, 2024, at the Landmark Event Centre, Lagos, now has Interswitch as one of its sponsors. The leading digital payment and commerce firm is joining the organisers of the programme as a partner due to its role as a key stakeholder in the financial technology industry, supporting discussions to provide valuable insights to deepen AI growth in the country. In a statement, the organisation emphasised that it threw its weight behind the event themed Adapting AI for Nigeria: Crafting Intelligent Solutions for our Unique

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16-February-2024

Salesforce Rolls Out Slack AI

Salesforce has launched Slack AI, a trusted and intuitive generative AI experience available natively in Slack, where work happens. Customers can easily tap into the collective knowledge shared in Slack through guided experiences for AI-powered search, channel recaps, thread summaries, and soon, a digests feature. These capabilities will enable customers to find answers, distil knowledge, and spark ideas faster. “For the past decade, Slack has revolutionised the way we work, bringing people, apps, and systems together in one place,” the chief executive of Slack, Denise Dresser, said. Dresser added that, “With Slack AI, we’re excited to take this transformation to

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14-February-2024

FG, World Bank Target $3bn to Expand Fibre Optic Cables in Nigeria

By Adedapo Adesanya The federal government and the World Bank are targeting $3 billion to fund an additional 120,000km of fibre optic cables to leapfrog broadband infrastructure and connectivity in Nigeria by 2027. The Minister of Communications, Innovations and Digital Economy, Mr Bosun Tijani, said this while speaking in Abuja on Tuesday at a stakeholders’ engagement with the theme Realising a Nigerian Vision of Broadband for All. Mr Tijani expressed hope that the funds would be raised in the next two or three years, noting that it has become imperative to seek investments in the nation’s digital backbone to facilitate

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12-February-2024

IXPN Activates Point of Presence at Lagos Open Access Data Centres

By Aduragbemi Omiyale The Point of Presence (PoP) at the Open Access Data Centres of the Internet Exchange Point of Nigeria (IXPN) has been activated. With the activation at the OADC facility, IXPN is now available at seven data centres, making it the only IXP accessible from all the major data centres operating in Lagos. Also, this development now makes the services of IXPN available and accessible to all network providers, providing them with affordable services and the opportunity to connect at multiple points. The company explained that the idea behind the activation of its PoP at OADC is to

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09-February-2024

Stakeholders Explore AI in Cybersecurity at Tek Experts C-Suite Forum

By Adedapo Adesanya Cytek Security, the sister company of Tek Experts, a leading provider of tech talent solutions, recently hosted its inaugural c-suite roundtable, bringing together industry leaders across financial services, tech, and consulting sectors to explore the evolving landscape of cybersecurity and the critical role of artificial intelligence (AI) in bolstering defences in today’s world. This is part of efforts by Tek Experts and Cytek Security to foster knowledge-sharing initiatives in the industry while innovating to adapt to the evolving cybersecurity landscape in Nigeria. At the event themed Beyond Automation – Unleashing the Strategic Power of AI for Cybersecurity,

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09-February-2024

Why Integrating Apps, Democratising Automation Should be Cornerstone of Every IT Strategy

By Linda Saunders As businesses look to transform the AI world, the demand for AI and automation tools is growing, intensifying the pressure on IT teams to deliver. This is especially true for the African continent. IT leaders across Africa are grappling to establish the governance and processes required to master the basics with widening digital skills gaps, disconnected systems, and compliance concerns among their top concerns. This is according to MuleSoft’s 2024 Connectivity Benchmark Report, which found that among 1,050 IT Leaders worldwide, 98% say they are facing challenges regarding digital transformation. 81% of IT Leaders report the persistence of

Sports

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21-February-2024

Rita Alakija’s Team Wins Coronation Group’s Lagos Polo Silver Cup Tourney

By Adedapo Adesanya African financial services provider, Coronation Group Limited, successfully concluded the highly anticipated Coronation Silver Cup final on Sunday, February 18 at the prestigious Lagos Polo Club in Ikoyi. The final match of this esteemed tournament was marked by the presence of distinguished guests, thrilling gameplay, and a celebration of sporting excellence. Special guests in attendance included President Tinubu’s Special Adviser on Industry, Trade and Investment, Mr John Uwajumogu, and Mr Abdul Samad Rabiu, Chairman/Founder, BUA Cement Plc. among others. The presence of these industry titans added to the excitement of the event and underscored the significance of

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19-February-2024

Deadly Passion for Football

By Dula Ganyo Mabin Football, one of the frontline sports, has over the years united football lovers all over the world for decades, at least temporarily. When it comes to the round leather game, people in developing and developed countries will forget their sorrows and frustrations and support their favourite teams. This is good for humanity. Recently, some refugees from Cameroon invaded the Adagon Community in Ogoja, Cross River State. At the end of the day, about six persons were allegedly injured. It was gathered that the refugees arrived in Ogoja and were having fun at a beer parlour when

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16-February-2024

Сasinos in Nigeria Suspected of Financing Terrorism

Money laundering in casinos is a serious problem in Nigeria and can serve as terrorist financing, according to the Intergovernmental Action Group Against Money Laundering (GIABA). Nigeria has about 300 casinos located mainly in its largest city, Lagos, and the capital, Abuja. GIABA noted that these casinos are at “relatively high risk” of money laundering. The problem of illegal gambling and terrorist financing Although casinos in Nigeria are required to file Suspicious Transaction Reports (STRs) with the Nigeria Financial Intelligence Unit (NFIU), most do not. This is compounded by the lack of sanctions against non-compliant operators. GIABA has also expressed

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15-February-2024

Nigeria Jumps to 28th in Latest FIFA Ranking After AFCON Exploits

By Adedapo Adesanya Despite a final defeat at the just concluded Africa Cup of Nations (AFCON) in Cote d’Ivoire, Nigeria has gotten a consolation in the latest FIFA ranking as it moved up 14 places to 28th in the world and third in Africa. The data released on Thursday showed that there were no changes in the top 10 rankings as Argentina retained the top position following their Qatar 2022 World Cup triumph followed by silver medallists, France and Gareth Southgate-led England remained in second and third, respectively. Belgium (4th), Brazil (5th), Netherlands (6th), Portugal (7th), Spain (8th), Italy (9th),

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13-February-2024

Tinubu Confers National Honours on Super Eagles

By Adedapo Adesanya Members of the silver-winning Super Eagles team in the just-concluded Africa Cup of Nations (AFCON) in Cote d’Ivoire have been conferred with national honours by President Bola Tinubu. At a reception held to welcome them to the country on Tuesday, the President awarded each member of the team with the Member of the Order of the Niger (MON) for their display at the tournament, won by the host nation after defeating Nigeria in the final on Sunday by 2-1. Mr Tinubu, while addressing the country’s national football team at the Council Chambers of the State House in

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13-February-2024

Qatar, Iran, Others Break 15 Records at 2023 AFC Asia Cup

By Modupe Gbadeyanka The just-concluded 18th AFC Asia Cup hosted and won by Qatar saw the shattering of 15 records, data from InsideSport revealed. The competition attracted players from across the top leagues of the globe sweating it out for their different participating countries. During the tournament, Qatar’s Hassan Al-Haydos became only the second player to ever win the AFC Asian Cup as a captain on two separate occasions, while Akram Afif (Qatar) tied Ali Daei (Iran) as the player with the second most goals scored in one AFC Asian Cup tournament – 8. Additionally, Qatar joined South Korea, Iran,

World

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19-February-2024

Practical Ideas of Russian-African Club for Strengthening Russia-Africa Relations

By Gouend Louis On February 8, the Russian-African Club of MSU named after M.V. Lomonosov held an International Conference: “Development of cultural and humanitarian cooperation between Russia and African countries.” The event took place at the Faculty of Global Processes of Moscow State University. The conference was held as part of the implementation of the decisions of the Second Summit and the Russia-Africa Economic and Humanitarian Forum, which was held on July 27-28, 2023. in St. Petersburg. The event was supported by the Secretariat of the Russia-Africa Partnership Forum of the Ministry of Foreign Affairs of the Russian Federation. The

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19-February-2024

AfDB Advises African Central Banks to Consider Interest Rate Cut

By Adedapo Adesanya  The African Development Bank (AfDB) has said central banks on the continent should take a cue from advanced economies to ease interest rates, which could ease inflation risks and bring about a recovery in dwindling household purchasing power. The bank said this in its latest Macroeconomic Performance and Outlook (MEO) report, where it projected that despite enduring global and domestic headwinds, Africa’s medium-term growth outlook is slowly improving. According to the report, the continent is set to remain the second-fastest-growing region after Asia. It said that continued exchange rate depreciation in many African countries, the passthrough of

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14-February-2024

US Exposes Russia’s Secret Campaign of Disinformation Sweeping Across Africa

By Samuel Ouma The US government has claimed that the Russian Intelligence Agency is trying to undermine its influence in Africa by spreading deadly disinformation. In a statement, the US Department of State’s Global Engagement Centre further revealed that the disinformation campaign also targets European countries. It is alleged Russia is using the African Initiative, a new information agency focused on Africa-Russia relations, to bolster its image while denigrating that of other countries. “In addition to its staff, African Initiative recruits African journalists, bloggers, and members of local publics to support and amplify the organization’s work of bolstering Russia’s image

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14-February-2024

Tinubu Prepares for 37th AU Summit In Addis Ababa

By Adedapo Adesanya President Bola Tinubu will depart Abuja on Thursday for Addis Ababa, Ethiopia, to participate in the 37th ordinary session of the assembly of the African Union (AU) heads of state and government. This was disclosed in a statement on Wednesday by the Special Adviser to the President on Media and Publicity, Mr Ajuri Ngelale. He said President Tinubu would join other African leaders in high-level meetings on institutional reforms of the African Union; peace and security; specific thematic issues such as climate change, as well as modalities of participation and priorities of the continental body in the

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12-February-2024

LinkedIn Records 11.5 million Data Leaks in 2023

By Adedapo Adesanya Business and employment-focused social media platform, LinkedIn, recorded over 11 million data leaks in 2023, a new study has revealed from cybersecurity firm, Surfshark. In 2023, LinkedIn had almost 11.5 million emails leaked due to the scraping of publicly available information. Out of the leaked accounts, 1.6 million were American, 1.1 million were French, and 700,000 were British. Four Russian platforms, Chitai-gorod, Book24, Gloria Jeans, and SberSpasibo, experienced the 2nd through 5th biggest data breaches. These breaches exposed around 20 million Russian email accounts. According to the data, 300 million user account data were leaked globally in

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06-February-2024

International Food Prices Dip Further in January 2024—FAO

By Adedapo Adesanya Global food prices fell further in January 2024, mainly on lower wheat and maize prices, according to the latest data from the United Nations’ Food and Agriculture Organisation (FAO). The FAO Food Price Index (FFPI), which is used to gauge aggregate pricing, stood at 118.0 points in January 2024, down 1.2 points (1.0 per cent) from its revised December level. Decreases in the price indices for cereals and meat more than offset an increase in the sugar price index, while those for dairy and vegetable oils only registered slight adjustments. The index stood 13.7 points (10.4 per

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