Author: precious

Huawei Nigeria has recently unveiled a state-of-the-art Innovation Center in Lagos, marking a milestone in the 25 years that Huawei Technologies have established its presence in Africa’s most populous country. According to the global tech giant, the Innovation Center, launched during the inaugural Huawei Day Nigeria 2025 in May themed “Accelerating Industrial Intelligence,” represents a strategic initiative and serves as a collaborative space designed to bring together diverse stakeholders from across Nigeria’s technology ecosystem. In turn, it will create an environment where innovation can flourish through partnerships between government agencies, educational institutions, private enterprises, and technology professionals. More importantly, this…

Airtel Nigeria has revealed ambitious plans to double its capital expenditures (CapEx) in 2025, committing over ₦500 billion (approximately $325 million) to accelerate the deployment of 5G technology and expand the mobile network coverage to rural communities across the country. This strategic move marks a noteworthy escalation from the $168 million (₦259 billion) previously invested in the 2024 fiscal year, reflecting the telecom giant’s determination to bridge Nigeria’s digital gap while strengthening its competitive position in Africa’s largest telecommunications market. The investment, according to Airtel Nigeria, will focus on critical infrastructure upgrades, including the installation of new base stations in…

Nigerian tech firms are actively leveraging artificial intelligence (AI) to combat disinformation and promote the preservation and inclusion of local languages. This double AI-powered approach addresses the challenges of misinformation spread, especially on social media platforms, as well as the digital marginalization of indigenous languages. These media organizations and tech firms are deploying AI-powered tools to fight fake news, particularly on platforms like Whastapp and Telegram, where misinformation is so quick to spread and difficult to monitor. Studies have shown that false information can spread up to six times faster than real news on social media. To address this, Nigerian…

MTN Group, Africa’s leading telecommunications company, has reported a remarkable 19.8% growth in group service revenue for the first quarter of 2025, with Nigeria and Ghana standing out as the primary growth engines. This impressive performance is largely attributed to MTN’s aggressive expansion in the fintech sector and strategic initiatives across both countries. Nigeria: Leading the Charge with Fintech and Regulatory Tailwinds Nigeria, MTN’s largest market, delivered a standout performance in Q1 2025. The company’s Nigerian operation reported a 40.4% increase in service revenue in constant currency terms, reaching R13.0 billion ($715 million) and contributing 27.5% to MTN Group’s total…

The Central Bank of Nigeria has imposed a substantial ₦250 million fine on Paystack, one of Nigeria’s leading fintech companies, following regulatory violations related to the company’s new consumer product, Zap. The fine, approximately $190,000, stems from allegations that paystack operated its peer-to-peer money transfer app without proper licensing requirements. The CBN claims Zap functions essentially as a deposit-taking product, which under Nigerian financial regulations is strictly reserved for institutions holding either a microfinance or banking license, which Paystack is neither a part of. Paystack currently holds only a switching and processing license, which permits the company to route financial…

Coinbase, the largest cryptocurrency exchange in the United States, recently disclosed a significant data breach affecting approximately 1% of its customers. The company has since the attack taken an aggressive stance against the hackers by refusing to pay ransom demands while implementing thorough remediation policies. On May 11, 2025, Coinbase reported that they got an email from an unknown threat actor, claiming to have customer account information and internal documents in their possession. In the investigation that was launched after the breach, Coinbase discovered that the cybercriminals had bribed a group of the company’s overseas customer support representatives to extract…

In recent months, Nvidia CEO Jensen Huang has emerged as one of the most influential voices on artificial intelligence’s impact on the future of employment. He continues to espouse that while AI itself won’t eliminate jobs completely, those who fail to embrace and effectively utilize this technology would risk being left behind in a fast-paced AI-driven economy. Huang’s perspectives, shared across multiple high-profile events we’ve had so far in 2025, reveal a nuanced view that acknowledges AI’s transformative potential while emphasizing human adaptation and opportunity rather than loss of human jobs. At the Milken Institute Global Conference 2025, Huang stated…

The United States has reached a preliminary agreement with the United Arab Emirates that would significantly increase the UAE’s access to advanced artificial intelligence chips, marking a notable shift in U.S. export control policy. This comes after the Trump administration rescinded U.S. Former President Biden’s AI Diffusion rule that created a three-tiered country access to U.S. manufactured AI chips, a rule that was supposed to go into effect on May 15. In its stead, the Trump-aligned Commerce Department has now negotiated for a robust framework to allow U.S.-manufactured AI Chip export to the United Arab Emirates (UAE) and other countries.…

In a landmark regulatory showdown, Nigeria’s Federal Competition and Consumer Protection Commission (FCCPC) levied an astonishing $220 billion fine against Meta, making it one of the largest penalties ever imposed on a global tech firm in Africa’s most populous nation. In response, Meta, whose Nigerian user base ranks as its 10th largest market, threatened to withdraw its services from the country, a move that stirred intense public debate but failed to sway the Commission’s resolve. Undeterred by Meta’s warnings, the FCCPC issued a pointed statement affirming the penalty and characterizing the company’s threat as “a calculated move aimed at inducing negative…

Wall Street experienced a great deal of instability as a result of President Trump’s serious criticism towards Chair of the Federal Reserve of the United States, Jerome Powell. In addition to its effect on U.S. financial markets, this public confrontation between Trump and the Fed Chair raised important questions about the independence of the central bank from politics, even in the middle of a tit-for-tat trade/tariff war. As a result of this serious criticism, all three major indices fell by over 2%. The Dow Jones Industrial Average plummeted 971.82 points, representing a 2.48% decline to 38,170.41, while the S&P 500…