BrandArena

Nigeria’s BVN Registry Hits 68.6 Million in Q1 2026 After Regulatory Overhaul

noreply@blogger.com (BrandArena) — Wed, 08 Apr 2026 18:09:00 +0000

Nigeria’s biometric identity system for the financial sector reached a new milestone in the first quarter of 2026, with the total number of registered Bank Verification Numbers (BVN) rising to 68.6 million.

Data released by the Nigeria Inter-Bank Settlement System (NIBSS) shows the database expanded by 754,128 new enrolments between January and March 2026, up from 67.8 million at the end of December 2025. The growth reflects a steady, though moderating, increase in the nation’s primary financial identity system.

The Q1 performance marks a slowdown compared with 2025, when the sector added 4.3 million new registrations, driven largely by the Non-Resident Bank Verification Number (NRBVN) initiative. This programme allows Nigerians in the diaspora to register remotely, supporting cross-border financial inclusion.

Analysts note that while registrations continue to rise, the rate has slowed as the pool of unregistered adult bank users narrows. A significant “identity gap” persists: as of March 2025, Nigeria had over 320 million active bank accounts. With a single BVN linked to multiple accounts, the disparity between 68.6 million unique identities and total accounts underscores the challenge of unlinked or “ghost” accounts within the system.

Effects of the Revised Regulatory Framework

The Q1 growth coincides with a major overhaul of the BVN regulatory framework by the Central Bank of Nigeria (CBN). Introduced in March 2026, the revised rules aim to strengthen BVN as a high-security, adult-only credential.

Key provisions include:

Age restriction: Only individuals aged 18 and above are eligible for BVN enrolment, ensuring biometric markers are tied to legally recognised adults.
“One-change” rule: Customers may update the phone number linked to their BVN only once in the lifetime of the record, enhancing accountability and reducing mobile-related fraud.
Real-time fraud watchlist: Banks must maintain a temporary watchlist for BVNs involved in suspicious transactions. Accounts on the list can be restricted for up to 24 hours while verification is conducted.

Strengthening Nigeria’s Digital Economy

The continued expansion of the BVN system is central to Nigeria’s digital economy strategy. NIBSS reports show digital payment fraud losses fell by 51% in 2025, dropping from over N52 billion to N25.85 billion.

“The BVN is the biometric pulse of our digital economy,” said an industry analyst. “By linking fingerprints and facial features to financial transactions, the system creates a digital footprint that is increasingly difficult for fraudsters to manipulate.”

Beyond fraud prevention, the BVN has become a key tool for social programmes. It was recently used in the Presidential Conditional Grant Scheme (PCGS), ensuring that “Nano Grants” reached one million verified business owners across all 774 Local Government Areas.

NiRA announces date and details for 18th Annual General Meeting

noreply@blogger.com (BrandArena) — Wed, 08 Apr 2026 18:06:00 +0000

The Nigeria Internet Registration Association (NiRA) has announced plans for its 18th Annual General Meeting (AGM), which will be held as a hybrid event on Wednesday, 29 April 2026.

The meeting is scheduled to take place at 11:00am at the Radisson Blu Hotel, Isaac John Street, Ikeja GRA, Lagos, with an option for participants to join virtually via Zoom.

In a notice approved by the Executive Board of Directors, the association invited members and stakeholders to participate in the AGM, either in person or online.

“We look forward to your active participation and encourage you to register in advance to help us plan effectively,” the notice to members read.

According to Seyi Onasanya, Chief Operating Officer/Secretary to the Executive Board, members are encouraged to take part in the meeting and engage in discussions that will shape the organisation’s direction.

The AGM provides a platform for stakeholders to review the association’s activities, governance, and future plans, as well as contribute to key decisions affecting Nigeria’s internet ecosystem.

₦501billion power sector bond seen as key step to stabilising Nigeria’s electricity industry

noreply@blogger.com (BrandArena) — Wed, 08 Apr 2026 18:05:00 +0000

Power Generation Companies (GenCos) have described the ₦501 billion raised through a bond issuance in January as a major step toward restoring stability in Nigeria’s electricity sector.

Mr Seyi Sobogun, Managing Director of First Independent Power Ltd, speaking on behalf of the GenCos, said the development reflects growing investor confidence in the Federal Government’s Presidential Power Sector Financial Reforms Programme (PPSFRP).

The GenCos noted that the reform programme was designed to tackle the nation’s ₦3.3 trillion electricity sector debt. The initiative was introduced to address long-standing structural challenges, including mounting unpaid debts, ageing infrastructure, under-investment, and poor service delivery.

The government said the accumulation of liabilities over the years had weakened GenCos and gas suppliers, reduced available generation capacity, and slowed progress toward providing reliable electricity to homes and businesses.

“In response, the Federal Government under the leadership of President Bola Ahmed Tinubu has launched the Power Sector Bond Programme aimed at clearing verified legacy debts and strengthening the entire sector,” the statement said.

As part of the initiative, the government confirmed settlement agreements covering 15 power plants, including Egbin Power Plc, Geregu Power Plc, Niger Delta Power Holding Company, Ibom Power Company, and First Independent Power Ltd.

Sobogun said, “We welcome the update on the implementation of the Presidential Power Sector Financial Reforms Programme as an important step toward restoring stability and sustainability in Nigeria’s power sector.”

He added that the industry had operated under severe financial strain for several years due to accumulated unpaid obligations across the electricity value chain. “Addressing these legacy issues is critical to improving overall system performance,” he said.

Confirming GenCos’ participation in the programme and the execution of settlement agreements, Sobogun expressed optimism over the progress made so far. “The progress recorded to date is encouraging and reflects tangible momentum that is beginning to rebuild confidence across the industry,” he said.

Highlighting the significance of the bond issuance, he added: “The January 2026 bond issuance, which was fully subscribed and raised ₦501 billion, is a particularly strong indicator of market confidence in the programme’s trajectory. We look forward to the outcome of subsequent planned issuances as the programme advances.”

Sobogun reaffirmed GenCos’ commitment to working with stakeholders to ensure the programme’s success and improve electricity supply nationwide. “We remain committed to working with all stakeholders to support the successful implementation of the programme and contribute to a stronger, more reliable power sector for Nigeria,” he said.

Meta unveils Muse Spark AI model to power smarter, faster Meta AI across its platforms

noreply@blogger.com (BrandArena) — Wed, 08 Apr 2026 17:59:00 +0000

Meta has announced Muse Spark, the first in a new series of large language models developed by its Meta Superintelligence Labs, as it pushes towards building more advanced and personalised artificial intelligence tools.

The company said Muse Spark is designed to power a faster and more capable Meta AI assistant, with plans to introduce new features that incorporate recommendations and content shared across Instagram, Facebook and Threads.

The model will underpin the next phase of Meta’s AI ambitions, with larger and more advanced systems already in development. Muse Spark currently powers the Meta AI app and website and is expected to roll out to WhatsApp, Instagram, Facebook, Messenger and AI-enabled glasses in the coming weeks. It will also be made available in private preview to selected partners via an API.

Meta described the launch as a step towards what it calls “personal superintelligence” — an assistant designed to help users with everyday tasks and more complex challenges.

A new generation of AI models

According to the company, Meta Superintelligence Labs has rebuilt its AI systems over the past nine months, adopting a more structured approach to scaling its models. Muse Spark is the first in the new “Muse” series, designed to incrementally improve performance with each iteration.

Despite being smaller and faster by design, the model is capable of handling complex queries across areas such as science, mathematics, and health, forming the foundation for more advanced versions already in development.

Upgraded Meta AI experience

The introduction of Muse Spark also brings upgrades to the Meta AI app and web platform, including a redesigned interface and enhanced functionality. Users can now switch between different modes depending on the complexity of their query, while the system can deploy multiple AI agents simultaneously to handle different aspects of a task.

For example, when planning a trip, separate agents can generate an itinerary, compare destinations, and suggest activities at the same time, delivering faster and more detailed results.

Enhanced visual and multimodal capabilities

A key feature of Muse Spark is its multimodal capability, allowing Meta AI to process and interpret images as well as text. This enables users to take photos and receive contextual insights, such as identifying products or comparing items in real time.

Meta said this capability is particularly useful in areas such as health, where users increasingly turn to AI for guidance. The model has been developed with input from medical professionals to improve responses to common health-related questions, including those involving images and charts.

New tools for creativity and discovery

Muse Spark also introduces enhanced creative tools, including visual coding features that allow users to generate websites, dashboards and simple games from text prompts.

In addition, Meta AI now includes a shopping mode that draws on content from creators and communities across its platforms, helping users discover fashion, home styling ideas and gift suggestions.

The assistant can also provide contextual insights on locations and trending topics by surfacing relevant public posts and discussions, offering users a broader perspective based on community activity.

Rollout and future plans

The upgraded Meta AI experience is being rolled out in the United States, with plans to expand to additional countries and platforms in the coming weeks. Meta said it also intends to open access to the underlying technology, beginning with a private preview for selected partners.

Looking ahead, the company said future updates will deliver richer and more visual responses, integrating content such as videos, photos and posts directly into answers while crediting original creators.

Meta added that it will continue to strengthen safeguards around safety and privacy as its AI systems evolve, as part of its broader ambition to build more intuitive and context-aware digital assistants.

NCC launches 2026–2030 spectrum roadmap to boost broadband and bridge Nigeria’s digital divide

noreply@blogger.com (BrandArena) — Wed, 08 Apr 2026 17:56:00 +0000

The Nigeria Communications Commission (NCC) has unveiled its Spectrum Roadmap for the Communications Sector (2026–2030), outlining a strategic plan to strengthen spectrum management, accelerate digital transformation and expand connectivity across the country.

The commission described the roadmap as a dynamic and adaptive framework designed to respond to rapid changes in the communications landscape, while encouraging efficient and innovative use of spectrum resources.

According to the NCC, spectrum, essential for mobile networks, broadband, satellite services and emerging technologies such as 5G and the Internet of Things, remains a finite national asset that must be carefully managed to maximise both economic and social value.

Despite recent regulatory challenges, including the NIN-SIM linkage exercise, the telecommunications sector has demonstrated resilience. As of 2025, the sector contributed approximately 9.2 per cent to Nigeria’s gross domestic product, with broadband penetration reaching 50.58 per cent and teledensity exceeding 81 per cent.

The roadmap is built on four key pillars: bridging the digital divide, enabling market-driven investment, improving quality of service, and promoting innovation and future readiness.

To deliver on these priorities, the NCC plans to refarm and release key spectrum bands, strengthen collaboration with industry stakeholders and deploy data-driven regulatory tools such as spectrum sharing and agile policy frameworks.

By 2030, the commission aims to achieve universal high-speed broadband access, drive digital innovation across critical sectors, and position Nigeria as a leading digital economy in Africa.

The roadmap aligns with national priorities set out in the National Broadband Plan and the National Digital Economy Policy and Strategy, underscoring the critical role of spectrum in advancing inclusive growth and long-term development.

Google relaunches Hustle Academy with free AI training for Africans

noreply@blogger.com (BrandArena) — Wed, 08 Apr 2026 17:52:00 +0000

Google has partnered with UpSkill Universe to relaunch its Hustle Academy, expanding the free training programme to offer practical artificial intelligence skills to individuals and entrepreneurs across Africa.

The redesigned initiative marks a shift from its earlier focus on business owners to a broader audience, opening access for employees, students, and jobseekers seeking to develop AI capabilities and improve their career prospects.

Small businesses remain central to Africa’s economy, accounting for more than 80 per cent of jobs on the continent. Since its launch in 2022, the Hustle Academy has provided bootcamp-style training in business strategy, digital skills, AI and leadership, reaching more than 18,000 small and medium-sized enterprises. Many participants have reported growth in revenue and job creation.

The 2026 edition reflects the growing influence of AI on the global workforce. The updated programme introduces a flexible learning format, combining short 60-minute webinars with more intensive bootcamps designed to deliver immediate, practical application. Training will focus on areas such as digital commerce, marketing, and growth strategy.

Speaking about the academy, Gori Yahaya, Founder & CEO UpSkill Universe, said “The 2026 Hustle Academy is designed to close the AI Skills gap with hands-on training that is short, focused, and immediately useful. AI is reshaping how businesses win and how careers are built, right across this continent. We’re excited to renew our partnership, now in its fifth year with Google, combining their global AI leadership with our deep regional AI expertise. The next wave of AI leaders will come from this continent. We are making sure they are ready."

The programme continues to play a role in strengthening digital competitiveness across emerging African economies by helping businesses move from basic awareness of AI to practical implementation, positioning them for long-term growth in an increasingly technology-driven environment.

“We believe that the future of Africa’s digital economy lies in the hands of individuals and entrepreneurs alike. Our new strategy focuses on scaling reach by training individuals in the latest AI-centered tools and techniques,” said a Google representative.

Applications for the 2026 cohort are now open, with interested participants encouraged to apply online.

Afreximbank unveils $10bn crisis fund to protect African and Caribbean economies

noreply@blogger.com (BrandArena) — Wed, 08 Apr 2026 17:42:00 +0000

The African Export-Import Bank (Afreximbank) has approved a $10 billion Gulf Crisis Response Programme aimed at shielding African and Caribbean Community (CARICOM) economies from the economic fallout of the ongoing Middle East conflict.

The decision, taken by the bank’s Board of Directors, comes as the crisis, which escalated on 28 February 2026, continues to send shockwaves through the global economy, with African and Caribbean nations among the hardest hit. The Gulf region remains a critical global supplier of oil, liquefied natural gas, fertilisers, and a key shipping route via the Strait of Hormuz, making the disruption particularly severe for import-dependent economies.

Countries heavily reliant on fuel, fertiliser and food imports, as well as those exposed to Gulf shipping routes, investment flows, tourism and remittances, are facing significant economic strain as a result of the conflict.

The Gulf Crisis Response Programme is designed to sustain essential imports, including fuel, gas, food, fertilisers and pharmaceuticals, by providing short-term foreign exchange and liquidity support to vulnerable member states. It will also enable African exporters of energy and minerals to take advantage of rising prices and shifting trade routes through pre-export finance, working capital and inventory support.

In addition, the programme offers short-term relief to countries whose tourism and aviation sectors have been disrupted, while also supporting long-term economic resilience by boosting productive capacity and accelerating critical infrastructure projects in energy, ports and logistics that have been delayed by the crisis.

Commenting on the facility, launched on 31 March 2026, Dr George Elombi, President and Chairman of the Board of Directors at Afreximbank said: “This crisis response programme is in tune with our DNA. We understand how our economies work and the pain points associated with these transitory crises. The programme will support African countries in adjusting smoothly to the crisis while strengthening their resilience to future shocks through interventions that transform the structure of their economies. I commend the Board of Directors of Afreximbank for their proactivity and fortitude in approving this intervention programme."

The initiative builds on a track record of emergency interventions by the bank, including support during the commodity shock of 2015/16, the COVID-19 pandemic of 2020/2021 and the Ukraine crisis of 2023/24. During the latter, Afreximbank launched a $4 billion Ukraine Crisis Adjustment Trade Financing Programme for Africa, through which it disbursed $39 billion to help countries address liquidity challenges and maintain access to essential goods.

The bank said these interventions highlight its capacity to deploy innovative risk-mitigation measures to help member states navigate global economic volatility.

Under the new programme, Afreximbank has already begun working with financial institutions and corporates to secure fuel, energy supplies, fertilisers and essential food imports disrupted by the prolonged crisis.

Beyond financing, the bank will coordinate a broader regional response in collaboration with the United Nations Economic Commission for Africa, the African Union Commission, the African Continental Free Trade Area Secretariat and the CARICOM Secretariat to strengthen energy security, trade resilience and supply chain diversification across affected regions.

TikTok to invest €1bn in second Finland data centre to boost European infrastructure

noreply@blogger.com (BrandArena) — Wed, 08 Apr 2026 17:39:00 +0000

TikTok is expanding its European infrastructure with a €1 billion investment in a second data centre in Finland, underlining its commitment to data sovereignty, regulatory compliance, and long-term growth across the region.

The new facility will be built in the Kiveriö district of Lahti, strengthening TikTok’s presence in Finland and reinforcing the Nordic country’s status as a leading destination for large-scale data centres.

“Lahti is part of the growth and development of the international data economy. In the context of Lahti, the investment is substantial. We are pleased that a main tenant agreement has been signed and that the project is progressing as planned,” says Niko Kyynäräinen, Mayor of Lahti.

TikTok’s expansion into Finland reflects a wider industry shift towards efficient, secure, and regulation-friendly infrastructure. The country offers several advantages, including a cold climate that significantly reduces cooling costs, widespread use of renewable energy, strong political and regulatory stability within the European Union, and low-latency connectivity across the continent.

Nordic countries, particularly Finland, have increasingly attracted major technology companies, with firms such as Google and Microsoft investing heavily in similar facilities across the region.

The investment forms part of TikTok’s broader European data strategy, Project Clover, which was launched to address growing concerns from regulators. The initiative focuses on storing European user data within the EU, improving transparency around data access, and partnering with European firms to strengthen oversight. TikTok has committed €12 billion over 10 years to develop and maintain its European data infrastructure under the programme.

The move also comes as the company reassesses elements of its data centre operations in Ireland, long considered a key technology hub in Europe. Rising energy costs, power constraints and tightening regulatory requirements have created challenges in the Irish market.

By expanding into Finland, TikTok aims to diversify its infrastructure, improve operational efficiency, and adapt to evolving energy and data policies across Europe.

The investment highlights a broader global trend driven by the rapid growth of artificial intelligence, cloud computing and data-intensive platforms. Demand for data centres is rising sharply, with the global market projected to exceed $600 billion by 2030, while energy consumption is expected to increase significantly as AI technologies require greater computing power.

For TikTok, which relies on high-definition video and advanced recommendation systems, local data centres are critical to improving performance, reducing latency, and supporting growing user demand.

At the same time, the strategy responds to increasing scrutiny from European regulators over data privacy, cross-border data transfers and concerns about foreign access to user information. By locating data infrastructure within Europe, TikTok is seeking to reduce regulatory risks and strengthen trust with both authorities and users.

UK regulator bars Bazar Money Transfer from payment services over compliance failures

noreply@blogger.com (BrandArena) — Wed, 08 Apr 2026 17:36:00 +0000

The UK Financial Conduct Authority (FCA) has imposed restrictions on Bazar Money Transfer Limited (BMTL), preventing the firm from carrying out regulated payment services after it failed to meet registration requirements.

In an official notice, the regulator said the restrictions were first applied on 21 November 2025, effectively stopping the company from providing money remittance services to retail and corporate customers.

BMTL had been registered with the FCA as a small payment institution. However, the regulator found that the firm was no longer meeting the conditions for registration, including its inability to demonstrate adequate anti-money laundering controls. The FCA also noted that the company had been offering crypto asset services without the necessary authorisation.

“As BMTL was no longer meeting the conditions for registration as a small payment institution, we acted to impose restrictions to protect consumers, preventing BMTL from carrying out any regulated payment services.

“Following representations made by BMTL, on 6 March 2026, we issued a Second Supervisory Notice, keeping the restrictions in place.

“Anyone who needs to send or receive money should use an alternative authorised or registered payment services firm.

“Any BMTL customers who haven’t received expected funds should contact our Supervision Hub.

“BMTL is also not registered to carry on crypto asset business and must not provide these services to customers”, the FCA alerts consumers under its watch.

The regulator’s action underscores its continued focus on consumer protection and compliance within the UK payments and crypto asset sectors, warning customers to seek authorised providers for financial transactions.

US and Iran agree two-week ceasefire as Strait of Hormuz set to reopen

noreply@blogger.com (BrandArena) — Wed, 08 Apr 2026 17:33:00 +0000

The United States and Iran have agreed to a two-week ceasefire, with safe passage through the Strait of Hormuz expected to resume, according to Iranian officials.

Iran confirmed the ceasefire announced by Donald Trump, with the Tasnim news agency reporting the development early on Wednesday.

Iranian Foreign Minister Abbas Araghchi said safe navigation through the Strait of Hormuz would be possible for two weeks, in coordination with Iran’s armed forces and “with due consideration of technical limitations."

Trump had made the reopening of the key shipping route a condition for the ceasefire and had warned of potential strikes on Iran’s energy sector and infrastructure, including bridges, if Tehran failed to comply by a set deadline.

The Strait of Hormuz, a critical artery for global oil and gas shipments, has been largely closed since the United States and Israel launched large-scale attacks on Iran on 28 February.

A senior US official said Israel would also adhere to what Trump described as a “double sided CEASEFIRE”.

Pakistan, which has played a mediating role between Tehran and Washington, confirmed that an immediate ceasefire between Iran and the United States had taken effect.

Prime Minister Shehbaz Sharif said the Islamic Republic of Iran and the United States, along with their allies, had agreed to an “immediate ceasefire everywhere”, including in Lebanon.

“I warmly welcome the sagacious gesture and extend deepest gratitude to the leadership of both the countries and invite their delegations to Islamabad on Friday … to further negotiate for a conclusive agreement to settle all disputes,” Sharif said.

Trump earlier said Sharif had urged him to refrain from carrying out the threatened attacks.

The United States has also received a 10-point proposal from Iran, which Trump said offered a “workable basis” for negotiations, according to a post on his Truth Social platform.

According to The New York Times, the proposal includes a call for the lifting of all sanctions imposed on Iran.

Nigeria’s oil output rises to 1.71m barrels per day as pipeline security improves, says NNPC

noreply@blogger.com (BrandArena) — Wed, 08 Apr 2026 17:25:00 +0000

Nigeria’s crude oil production has rebounded sharply from a historic low of 960,000 barrels per day in 2022 to an average of 1.71 million barrels per day, with a peak of 1.84 million barrels per day in 2025, according to the Nigerian National Petroleum Company Limited (NNPC Ltd). The national oil company attributed the recovery to strengthened pipeline security measures across the Niger Delta.

The Group Chief Executive Officer of NNPC Ltd, Engr. Bashir Bayo Ojulari, disclosed this at the Parliamentary Roundtable on the State of Pipeline Security held at the National Assembly in Abuja on Wednesday.

Ojulari said the improved output was the result of deliberate and coordinated efforts rather than chance. He described the approach as an “integrated energy security model that combines legislative and executive policy alignment, actionable intelligence, kinetic deployment capabilities, regulatory oversight, industry cooperation, and community-embedded surveillance mechanisms”.

He noted that the effective tackling of oil theft and widespread pipeline sabotage has driven the resurgence in production and helped restore investor confidence in Nigeria’s oil and gas sector.

In his welcome address, the President of the Senate, Sen. Godswill Akpabio, represented by Senator Jimoh Ibrahim, called for greater collaboration among government agencies and stakeholders to address challenges hindering production growth.

Similarly, the Speaker of the House of Representatives, represented by the Leader of the House, Hon. (Prof.) Julius Ihonvbere, urged participants to assess progress made so far with a focus on fairness and equity.

The Parliamentary Roundtable on the State of Pipeline Security was convened by the Joint Senate and House of Representatives Committee on Petroleum Resources. It brought together key government officials, including the National Security Adviser, Minister of Defence, and representatives of oil industry regulatory bodies.

The event also featured presentations from the Chief of Defence Staff, Inspector General of Police, Director General of the Department of State Services, Commandant General of the Nigerian Security and Civil Defence Corps, as well as private security companies.

Heliconia Park Hotel unveils Oasis Gourmet Restaurant and Pool Bar in Lagos

noreply@blogger.com (BrandArena) — Wed, 08 Apr 2026 17:21:00 +0000

Heliconia Park Hotel & Spa Lagos has launched Oasis Gourmet Restaurant and Pool Bar, a new fine dining destination in Victoria Island, Lagos, marking an expansion of its luxury hospitality offering.

The unveiling took place at an exclusive event attended by distinguished guests, business leaders and government representatives, signalling the brand’s continued growth and its move into a more experience-led culinary space.

Positioned as more than a conventional restaurant, Oasis Gourmet Restaurant and Pool Bar has been designed as a curated dining experience that combines elegance with comfort. The venue offers guests a setting where high-quality cuisine meets a warm and inviting atmosphere.

“Oasis Gourmet Restaurant and Pool Bar represents the next step in our journey to create spaces that are not only refined but truly welcoming. With Oasis Gourmet Restaurant and Pool Bar, we are bringing our philosophy into fine dining, offering an experience where every guest feels extra special, comfortable, and at home,” said Pasquale Fiore, Managing Director of Heliconia Park.

Guests at the launch were treated to an evening of live music, entertainment and a showcase of the restaurant’s signature dishes. The menu places emphasis on quality ingredients, thoughtful presentation and consistency, reflecting the hotel’s broader commitment to modern hospitality.

The gala dinner drew prominent figures from across Lagos for what organisers described as a memorable evening, reinforcing the hotel’s positioning within the city’s upscale lifestyle and hospitality scene.

The introduction of Oasis Gourmet Restaurant and Pool Bar adds to Lagos’ growing portfolio of premium dining and leisure destinations. Industry observers say such developments contribute to tourism, business engagement, and wider economic activity in the state.

As Heliconia Park’s hospitality division continues to expand, the company said it remains focused on delivering exceptional service, immersive experiences, and a distinctive environment for its guests.

Oasis Gourmet Restaurant and Pool Bar offers a blend of casual fine dining and relaxed ambience, bringing together curated cuisine and attentive service in a setting designed to leave a lasting impression.

Kulipa secures $6.2m funding to expand stablecoin card payments globally

noreply@blogger.com (BrandArena) — Thu, 02 Apr 2026 22:31:00 +0000

Kulipa, a Paris-based stablecoin card issuing infrastructure platform, has raised $6.2 million in seed funding to accelerate the adoption of real-world stablecoin payments across global fintech platforms.

The funding round was co-led by Flourish Ventures and 1kx, with participation from White Star Capital and Fabric Ventures. The investment will support the expansion of Kulipa’s regulated issuing capabilities across Europe, Latin America and Africa.

Kulipa enables payroll, cross-border payments, digital banking and spend management platforms to issue globally accepted payment cards funded directly from stablecoin balances, bridging blockchain-based settlement with everyday transactions.

Stablecoins now process more than $300 billion in daily settlement, yet they remain a small fraction of global payment flows. Industry challenges persist due to fragmented infrastructure, capital-intensive requirements and reliance on prefunded models tied to regional licensing. As regulatory clarity improves, fintech firms are increasingly seeking compliant and scalable solutions to integrate stablecoins into mainstream financial products.

Kulipa aims to address this gap through a stablecoin-native issuing infrastructure designed to improve capital efficiency, compliance and global scalability. Its platform allows partners to launch payment programmes funded directly from stablecoin balances, supporting both prefunded deployments and deeper wallet integrations. By verifying balances and triggering settlement onchain, the company reduces dependence on collateral-heavy prefunding and enables more sustainable scaling.

Cards issued via Kulipa can be used wherever major card networks are accepted, including for retail purchases and ATM withdrawals. The company also assumes fraud liability for its issued programmes, easing operational risks for fintech partners.

“Stablecoins have proven their value as a settlement layer, but using them in everyday financial products is still early,” said Axel Cateland, Founder and CEO of Kulipa. “Card issuance is the bridge between onchain balances and real-world payments. We built Kulipa to give regulated fintech platforms the compliant, capital-efficient infrastructure they need to operate at global scale.”

Kulipa operates a local-first issuing model with regulated coverage across the European Union, Argentina and Nigeria, and is preparing for expansion into the United States through BIN sponsorship. This regulatory footprint aligns with evolving compliance standards and allows fintech platforms to operate within established financial systems.

Since launching its infrastructure in February 2025, Kulipa has issued more than 120,000 cards and signed 20 customers, including Flutterwave, Solflare, nSave and Ready. The company has also recorded 70 per cent month-on-month growth in transaction volume, reflecting rising demand for stablecoin-enabled payment solutions across both emerging and developed markets.

“At Flutterwave, we’re focused on building payment infrastructure that works across markets at scale. As stablecoins become a more practical settlement option, it’s important that businesses can turn those balances into real-world spending,” said Olugbenga Agboola, Founder & CEO of Flutterwave. "Partnering with Kulipa allows us to extend stablecoin value into globally accepted payments in a compliant, scalable way.”

“Kulipa has enabled Ready to become an onchain alternative to banks,” said Itamar Lesuisse, CEO of Ready. “With their infrastructure, we can issue globally accepted cards directly from stablecoin balances, giving our users seamless access to everyday spending in a compliant and scalable way.”

Kulipa was founded in 2023 by a team with experience across payments, compliance and financial infrastructure. Cateland previously led global Apple Pay and Google Pay deployments at Mastercard, while co-founder and CTO Michael Shynar built commerce infrastructure at WhatsApp and spent nearly a decade as a staff engineer at Google. Head of Compliance Benoit Roger brings regulatory experience from Binance and Nickel Bank, while Head of Go-To-Market Josephine Soublin previously led Klarna’s launch in France.

“We’re seeing stablecoins moving beyond cross-border settlement and becoming part of real financial infrastructure,” said Ameya Upadhyay, General Partner at Flourish Ventures. “The missing piece has been compliant, scalable card issuance. Kulipa fills that gap by combining capital efficiency with multi-region regulatory coverage, enabling fintech platforms to bring stablecoin settlement into everyday payments.”

1kx Founding Partner Christopher Heymann added, “Stablecoins are reshaping how money moves globally, but for mainstream adoption, people need to spend them as easily as they spend fiat. Kulipa meets users where they already are, starting with the card in their wallet, and gives businesses a turnkey way to offer that experience. We believe this payments layer is critical infrastructure for the next phase of crypto adoption.”

The latest round brings Kulipa’s total funding to $9.2 million. As stablecoins continue to evolve, the company is positioning itself to make stablecoin-based payments as seamless and widely accepted as traditional card transactions.

CBN introduces payments committee for digital economy and crypto compliance programme for fintech firms

noreply@blogger.com (BrandArena) — Thu, 02 Apr 2026 22:25:00 +0000

The Central Bank of Nigeria (CBN) has stepped up efforts to strengthen oversight of the country’s fast-growing digital finance sector, unveiling a new payments committee alongside a pilot compliance programme targeting cryptocurrency operators.

Announced on 31 March 2026, the initiative introduces a supervisory framework for virtual asset service providers (VASPs), bringing major fintech players such as Flutterwave and Paystack under closer regulatory scrutiny to improve financial system stability and anti-money laundering compliance.

The move marks a significant shift in Nigeria’s approach to cryptocurrency regulation. After restricting banks from facilitating crypto transactions in 2021, regulators began easing their stance between 2023 and 2024. The latest development signals a transition towards active supervision and risk management of digital assets.

The first cohort of the multi-phase programme includes Flutterwave, Paystack, KuCoin, cNGN, Juicyway and KoinKoin, representing a mix of payments infrastructure providers and crypto platforms across Nigeria’s fintech ecosystem.

Participating firms will undergo intensive regulatory engagement, including monthly submission of anti-money laundering, counter-terrorism financing and counter-proliferation financing performance indicators. They will also take part in regular supervisory sessions with the CBN and the Nigerian Financial Intelligence Unit.

The programme will review governance structures, customer onboarding processes, cross-border transaction flows, sanctions screening systems and transaction monitoring frameworks. Firms are also required to provide implementation plans for the Financial Action Task Force “Travel Rule”, which mandates the sharing of transaction data to curb illicit financial flows.

The initiative aligns with global standards under Financial Action Task Force Recommendations 15 and 16, focusing on the regulation of virtual asset providers, transparency in cross-border digital transactions and prevention of financial crimes. This alignment is particularly important as Nigeria continues to face scrutiny over financial crime risks and capital flows.

Despite regulatory tightening, Nigeria remains one of the world’s largest cryptocurrency markets, consistently ranking among the top five globally for adoption. Digital assets are widely used for remittances, cross-border payments and as a hedge against currency volatility.

The CBN clarified that participation in the pilot does not confer licensing or regulatory approval, describing the programme as a testing ground to assess risks, improve compliance readiness and prepare firms for future regulation.

The pilot forms part of a broader regulatory push in 2026, which includes new automated anti-money laundering requirements and the introduction of a Cybersecurity Self-Assessment Tool for financial institutions. These measures are aimed at strengthening oversight, closing regulatory gaps and building trust in Nigeria’s financial system.

Alongside the crypto initiative, the CBN has inaugurated a Payments Service Providers’ Committee to improve coordination across the digital payments ecosystem.

Speaking at the inaugural meeting in Lagos, CBN Deputy Governor for Economic Policy, Dr Abdullahi Sani, said the committee brings together licensed providers and key regulators to address industry challenges and sustain growth.

“In 2024 alone, over 11.2 billion electronic transactions valued above N1.07 quadrillion were processed,” he said.

He noted that this marked the first time transaction values exceeded the quadrillion-naira threshold, highlighting the rapid expansion of Nigeria’s digital payments sector.

“The momentum has continued into 2025 and early 2026, reflecting a fast-growing ecosystem with implications for inclusive growth and trade,” he said.

Sani added that the committee would support policy coordination, knowledge sharing and joint problem-solving among stakeholders, with regulators including the NCC, NDIC and SEC expected to participate in quarterly meetings.

“The initiative will enable joint efforts to address challenges and position Nigeria competitively in the global payments space,” he said.

He added that Nigeria remains a leader in payment innovation, with fintech solutions outperforming many regional peers.

GTCO opens applications for “Take on Squad” Hackathon 3.0 to drive tech innovation in Africa

noreply@blogger.com (BrandArena) — Thu, 02 Apr 2026 22:19:00 +0000

Guaranty Trust Holding Company Plc (GTCO) has launched the third edition of its “Take on Squad” Hackathon, reinforcing its commitment to promoting innovation, nurturing talent and supporting the development of technology-driven solutions to real-world challenges across Africa.

Now in its third year, the hackathon will bring together developers, designers and entrepreneurs from across Nigeria to collaborate on practical solutions spanning key sectors such as financial services, healthcare, commerce and digital inclusion. With the theme “Smart Systems: The Intelligent Economy,” participants are expected to design and build intelligent, data-driven solutions that transform how communities interact with money.

Applications for the programme are now open, with interested teams invited to review guidelines and register via the official portal.

Speaking on the initiative, Eduophon Japhet, Managing Director of HabariPay, stated: “Today’s dynamic, digitally driven world demands continuous innovation, which is shaping how economies grow, how businesses scale, and how societies evolve. Through “Take on Squad” Hackathon, we are deliberately investing in the ideas and talent that will define the future. Our objective is not simply to encourage innovation, but to enable its translation into scalable solutions that deliver real and measurable impact. This reflects GTCO’s role as a financial services platform that connects capital, capability, and creativity to drive sustainable progress.”

The hackathon remains a key part of HabariPay’s strategy to encourage creativity and problem-solving among emerging technology talent. Participating teams will utilise Squad’s application programming interfaces to develop scalable digital tools aimed at addressing everyday challenges faced by businesses and individuals.

Through initiatives such as this, GTCO continues to strengthen its position at the intersection of finance, technology and enterprise, playing an active role in advancing digital transformation across Africa.

Turkish Airlines launches Timișoara route, expanding Romania network to four cities

noreply@blogger.com (BrandArena) — Thu, 02 Apr 2026 22:15:00 +0000

Turkish Airlines has expanded its operations in Romania with the launch of flights to Timișoara, its fourth destination in the country after Bucharest, Cluj-Napoca and Constanta.

The new service will operate five times a week, bringing the airline’s total weekly flight frequency in Romania to 47. An inauguration ceremony was held at Timișoara Traian Vuia International Airport, attended by Turkish Airlines and airport executives, highlighting the importance of the route in strengthening regional connectivity.

Commenting on the development, Turkish Airlines Chief Executive Officer Bilal Ekşi said: “Romania continues to be one of the strategically important markets for Turkish Airlines in Eastern Europe. The launch of our Timișoara flights expands our presence to a fourth city in the country, offering our guests more travel options while strengthening access to our Istanbul-centered unparalleled global network. We believe that this new route will contribute to both commercial and tourism activity in the region.”

Located in western Romania along the Bega River, Timișoara is recognised as a major tourism and business hub, known for its historical heritage and multicultural character. Often referred to as “Little Vienna”, the city is noted for its expansive public squares and vibrant cultural life. Key landmarks such as Union Square (Piața Unirii) and Victory Square (Piața Victoriei) continue to attract visitors, while its designation as European Capital of Culture in 2023 has further elevated its profile.

The addition of Timișoara strengthens Turkish Airlines’ footprint in Romania and enhances passenger access to its global network of 358 destinations via Istanbul.

To mark the launch, the airline is offering promotional fares starting from 169 US dollars for return travel on the Istanbul–Timișoara route, subject to availability and booking conditions.

BUA Foods MD Ayodele Abioye to headline 2026 Industry Summit on real sector growth

noreply@blogger.com (BrandArena) — Thu, 02 Apr 2026 22:06:00 +0000

The Managing Director of BUA Foods Plc, Dr Ayodele Musibau Abioye, has been named keynote speaker for the 2026 Industry Summit, themed ‘The Year of the Real Sector’.

In a statement released to the media, the organisers said, “Dr. Abioye, a distinguished business leader and engineer with over 30 years of experience in business and manufacturing engineering, will deliver a paper on the topic ‘Unlocking Value: BUA Foods’ Role in Transforming Nigeria’s Real Sector Through Innovation and Sustainability.’”

The 7th edition of the Industry Summit/Awards is scheduled to take place on Friday, 17 April 2026, at the Civic Centre, Victoria Island, Lagos.

Organisers also unveiled a line-up of panellists including Adeola Amosun, Group Media Manager at Tolaram; Abisoye Oruye, Media Manager, Nigeria at FrieslandCampina WAMCO; Henry Ononiwu, Chief Marketing Officer at PHD Nigeria; and Oluwaponmile Alabi, Marketing Manager-RTS at Guinness Nigeria.

Other speakers include Godfrey Adejumoh, Head of Corporate Relations at Diageo West & Central Africa; Sylvester Nwanze, National Trade Marketing and Strategy at UAC Foods; Olusegun Akinyemiju, Head of White and Spirits (MSS Category) at Guinness Nigeria; and Gift Uche-Ewule, Brand Manager at Godrej Consumer Products.

Goddie Ofose, Convener of the Industry Summit/Awards, said, “Dr. Abioye is a results-driven leader with proven expertise in operations, manufacturing, supply chain management, and business development, with a track record of consistently delivering growth and profitability.”

Dr Abioye joined BUA Group as Chief Operating Officer in 2021, overseeing its food businesses, before being appointed Managing Director of BUA Foods Plc. Under his leadership, the company has strengthened its position as a leading player in Nigeria’s and Africa’s food sector.

His previous roles include General Manager at Seven-Up Bottling Company, Country Technical Director at Coca-Cola Nigeria, Regional Supply Chain Director at Nigerian Bottling Company Ltd, Country Head of Supply Chain at Frigoglass Ltd and Dansa Foods Ltd, and Chief Operating Officer at Secure ID Ltd.

Ofose said, “He has a Bachelor’s degree in Mechanical Engineering and Technology from the University of Ilorin, a Master’s degree in Engineering Management, and a PhD in Manufacturing Engineering – both from the University of Benin. He has extensive professional training and exposure locally and internationally across the United States of America, Europe, and South Africa. He is a registered Engineer with the Nigerian Society of Engineers and COREN, and also an advisory board member of the University of Ilorin’s Food Engineering Department.

“Ayodele Abioye is passionate about business strategy execution for growth, leadership and governance, internal control, waste reduction, sustainability, and associates’ development,” he added.

The event will be chaired by the Minister of Industry, Trade and Investment, Senator John Owan Enoh. Other dignitaries expected include Lagos State Commissioner for Information and Strategy, Gbenga Omotoso; Senior Special Assistant to the President on New Media and Digital Communications, O’tega Ogra; and Special Adviser to the Lagos State Governor on Media and Publicity, Gboyega Akosile.

NiRA board rejects allegations as ‘false and misleading’, to address concerns at AGM

noreply@blogger.com (BrandArena) — Thu, 02 Apr 2026 22:05:00 +0000

The Executive Board of Directors (EBOD) of the Association has dismissed circulating allegations against its leadership and governance as “unsubstantiated, misleading, and, in several respects, patently false”.

In an official statement issued on Wednesday, the Board confirmed it had received recent communications containing serious claims but insisted they lacked credible evidence and due process.

“The Executive Board of Directors (EBOD) acknowledges receipt of the recent communications currently in circulation, which contain a number of serious allegations concerning the leadership and governance of the Association,” the statement read.

“At the outset, the EBOD firmly states that the claims presented in these communications are unsubstantiated, misleading, and, in several respects, patently false. Such assertions, when made without credible evidence and proper engagement with the appropriate governance structures, risk undermining the integrity, unity, and reputation of the Association.”

The Board reiterated its commitment to transparency, accountability and adherence to the Association’s constitution, stressing that it has not engaged in any actions detrimental to members or the organisation.

“The EBOD remains fully committed to upholding the Constitution of the Association and ensuring that all decisions and actions are conducted in strict accordance with its provisions, as well as established principles of transparency, accountability, and due process. At no point has the Board engaged in any activity intended to be detrimental to the Association or its members,” the statement added.

However, the EBOD said it would provide a comprehensive response to the allegations at the forthcoming Annual General Meeting (AGM), describing it as the appropriate constitutional platform for addressing the issues in full.

“However, given the gravity of the issues raised, and in the interest of fairness, order, and institutional propriety, the EBOD has resolved that a comprehensive and formal response will be presented at the forthcoming Annual General Meeting (AGM). This will provide the appropriate and constitutionally recognized platform for a thorough review of all matters raised.”

Members who have raised concerns were urged to follow due process by submitting verifiable evidence and engaging constructively at the AGM.

“Members who have made these allegations are therefore strongly encouraged to:
•⁠ ⁠Present any claims, concerns, or allegations through the proper channels;
•⁠ ⁠Submit verifiable evidence to support such claims; and
•⁠ ⁠Participate constructively in the deliberations at the AGM.”

The Board also made clear it would not engage in informal exchanges that could escalate tensions or spread misinformation.

“The EBOD will not be drawn into informal or fragmented exchanges that may further inflame tensions or propagate misinformation. The Board remains resolute in addressing these matters decisively, transparently, and within the framework of the Association’s governing instruments.”

It further called on members to act responsibly as the organisation navigates the dispute, particularly amid ongoing constitutional amendments aimed at strengthening NiRA’s standing among global country code top-level domain registries.

“We urge all members to exercise restraint, responsibility, and commitment to the collective interest of the Association as we navigate these matters, particularly with regards the ongoing constitution amendment aimed at putting NiRA on stronger footings to continue to standout in the league of ccTLDs.”

The statement was signed by the Association’s President, Adesola Akinsanya.

Newcastle United posts first profit under PIF ownership following stadium sale

noreply@blogger.com (BrandArena) — Tue, 31 Mar 2026 16:42:00 +0000

Newcastle United has returned to profit for the first time since coming under the ownership of Saudi Arabia’s Public Investment Fund (PIF), boosted by the sale of St James’ Park and adjacent assets to a sister company.

According to The Athletic, the intragroup transactions generated paper proceeds of £176.2 million ($232.3m) and an accounting profit of £133.1 million, resulting in a pre-tax profit of £34.7 million for the 2024-25 season. Without these asset sales, the club would have recorded a £98.4 million loss.

PZ Newco Holdings Limited (PZNH), incorporated in the UK on 5 June 2025, is wholly owned by PZ Newco Limited, the UK-registered investment vehicle majority-owned by PIF, like Newcastle United itself.

On 27 June 2025, three days before the club’s accounting year end, PZNH purchased ‘leasehold improvements at St James’ Park’ for £172.1 million, generating a £129 million accounting profit for Newcastle. This transaction covered the stadium structure only; the land on which St James’ Park sits is managed by the Freemen of Newcastle and remains outside the club’s ownership.

The deal marks a significant financial milestone for Newcastle under PIF, highlighting the impact of internal asset restructuring on the club’s accounts.

NGX RegCo fines five brokerages for market misconduct, strengthens investor protection

noreply@blogger.com (BrandArena) — Tue, 31 Mar 2026 16:42:00 +0000

Nigeria’s capital market regulator, NGX Regulation Limited (NGX RegCo), has imposed substantial financial penalties and corrective measures on five dealing member firms following findings of market misconduct. The action signals a firmer regulatory stance aimed at safeguarding market integrity and boosting investor confidence.

The firms sanctioned are CSL Stockbrokers Limited, Cowry Securities Limited, Meristem Stockbrokers Limited, SMADAC Securities Limited, and Associated Asset Managers Limited.

Investigations revealed that the brokerages engaged in practices including alleged market manipulation, wash trades, self-matching transactions, artificial price formation, and dissemination of misleading market activity signals.

CSL Stockbrokers received the largest fine of N91.29 million, while the other four firms were each fined N50 million under Section 139(2)(d)(ii) of the Investments and Securities Act (ISA) 2025. In addition to monetary penalties, all five firms must complete mandatory compliance and market conduct training, reflecting NGX RegCo’s focus on behavioural correction alongside enforcement.

The Board of NGX RegCo ratified the sanctions on 27 March 2026, following hearings by its Investigation Panel on 25 February and 17 March 2026.

From a market perspective, the enforcement action has several implications:

Reinforcing Market Integrity: The sanctions serve as a clear warning to brokers against manipulative trading that distorts price discovery. By addressing wash trades and self-matching, NGX RegCo strengthens the credibility of order flow and transaction authenticity within the exchange.

Short-Term Liquidity Sensitivity: Trading activity from the affected firms may dip temporarily as internal risk controls tighten or client flows adjust, though these effects are likely to be transitory.

Compliance and Operational Upgrades: Broker-dealers across the market may accelerate investments in surveillance systems, internal controls, and staff training. While this may raise operational costs, it ultimately raises industry standards and reduces systemic risk.

Investor Confidence and Transparency: For institutional and foreign investors, the sanctions signal regulatory vigilance and commitment to transparency, enhancing Nigeria’s standing as a rules-based market. This is likely to support capital inflows and valuation stability over time.

Reputational Impact: The affected firms may experience short-term reputational challenges, potentially affecting client relationships. Demonstrating strengthened governance and compliance frameworks will be key to mitigating long-term brand damage.

NGX RegCo’s decisive enforcement underscores a maturing regulatory environment aligned with global best practices in market surveillance and conduct enforcement. While the immediate impact may include localised disruptions, the broader effect is constructive, reinforcing trust, transparency, and the integrity of Nigeria’s equity market.

Investors are encouraged to view the development as a positive step in regulatory credibility rather than an indicator of systemic risk.

Khaby Lame named ambassador for Dakar 2026 Youth Olympic Games ahead of Africa’s first Olympic event

noreply@blogger.com (BrandArena) — Tue, 31 Mar 2026 16:31:00 +0000

Khaby Lame has been named an official ambassador for the Dakar 2026 Youth Olympic Games (YOG), marking a major milestone in the lead-up to the first Olympic sporting event to be hosted in Africa. His appointment highlights the growing international profile and appeal of the Games.

A social media sensation with hundreds of millions of followers worldwide, the Italian-Senegalese influencer joins a distinguished group of ambassadors, including Omar Sy, Kalidou Koulibaly, and Eva Neymar. Their collective involvement underscores the broad cultural and sporting engagement that Dakar 2026 is generating beyond traditional athletics.

Lame, officially appointed on 26 March 2026 in Dakar, expressed his pride at joining the historic event. “This commitment reflects my desire to support young African talent, both in sport and beyond. Dakar 2026 will give our continent the opportunity to showcase the best of itself and inspire young people in Africa and around the world. It is a chance to demonstrate that, as well as being resilient, Africa is a force to be reckoned with. I am proud to be Senegalese and proud to be African – and we will make this first Olympic event in Africa a resounding success.”

Rising to fame during the COVID-19 pandemic, Lame became a global phenomenon thanks to the simplicity and universal appeal of his content. His connection with young audiences offers a powerful platform to amplify the vision and values of the Games.

Mamadou Diagna Ndiaye, President of the Dakar 2026 Youth Olympic Games Organising Committee (YOGOC), highlighted how Lame’s appointment fits into a broader engagement strategy, “Khaby Lame’s involvement illustrates the incredible enthusiasm generated by this edition of the Games. Dakar 2026 is bringing together, inspiring and attracting talented individuals who want to help make this event a global success.”

Lame will actively promote the Games, particularly to young people. He will participate in key moments, including the YOG Torch Tour across Senegal, and help enhance the social and inclusive impact of Dakar 2026, supporting youth participation from cities and towns such as Mbacké, where he was born.

His appointment demonstrates Dakar 2026’s ability to engage influential global voices and reflects its ambition to make these Youth Olympic Games a universal celebration of youth, sport, and Africa’s potential.

Nigeria’s 3MTT programme sees surge in applications, spotlighting nation’s tech talent ambitions

noreply@blogger.com (BrandArena) — Tue, 31 Mar 2026 16:21:00 +0000

Nigeria’s 3 Million Technical Talent (3MTT) programme is rapidly emerging as a cornerstone of the country’s economic future, driven not only by ambition but by an urgent need to equip its workforce with digital skills.

Shortly after applications opened, the initiative attracted more than one million registrations — far exceeding its initial target of 30,000 trainees and an expected 50,000 applicants. The surge reflects a growing shift among young Nigerians towards the digital economy, particularly as opportunities in traditional sectors continue to shrink.

Beyond the headline figures, the demand signals a deeper transformation: Nigeria is positioning itself as a potential global hub for digital talent, even as questions remain over whether existing systems can support such rapid growth.

The country’s demographic pressures make the programme particularly significant. More than half of Nigeria’s youth are either unemployed or underemployed, while millions enter the labour market each year, intensifying the need for sustainable job creation.

At the same time, global demand for digital skills continues to accelerate, with more than 60 per cent of workers expected to require reskilling by 2027. This convergence of domestic unemployment and international demand underpins Nigeria’s digital talent strategy.

Launched in October 2023 by the Federal Ministry of Communications, Innovation, and Digital Economy, the 3MTT programme aims to train three million Nigerians in high-demand areas such as software development, data science and cybersecurity by 2027. Early traction suggests that lack of interest is not a barrier to digital skills adoption in the country.

To date, the programme has received more than 1.8 million applications nationwide and has already trained tens of thousands across various cohorts. It is backed by a mix of public and private sector partners, including MTN, Google and the European Union, with MTN committing ₦3 billion in funding.

However, the overwhelming response has also exposed systemic limitations. Nigeria’s digital infrastructure continues to face significant constraints, with internet penetration at around 55 per cent and electricity supply remaining inconsistent, particularly in rural areas. Limited access to devices, connectivity challenges and unreliable power all pose barriers to effective learning and skills deployment.

The scale of interest is also prompting a rethink of how talent development is approached. Previous large-scale youth initiatives, including N-Power and various skills bootcamps, have often struggled to translate training into long-term employment outcomes.

The 3MTT programme is attempting to bridge that gap by focusing on ecosystem development rather than training alone. “The goal of the Partner Network is to ensure that talent is built for what the industry needs, and that there is a clear connection between talent and industry,” said Francis Sani O., Programme Director, 3MTT Nigeria.

This strategy includes partnerships with training providers, access to globally recognised certifications and efforts to connect participants directly to employment opportunities and outsourcing markets. The broader ambition is to position Nigeria as a net exporter of digital talent, supplying skilled professionals to a global economy increasingly shaped by remote work and artificial intelligence.

Yet the early momentum also raises a critical question: can Nigeria convert this unprecedented interest into tangible economic outcomes? Training millions is one challenge; integrating them into a productive economy — through jobs, outsourcing or entrepreneurship — is another.

FIFA sells out 2026 World Cup sponsorships as global tensions cast shadow over tournament

noreply@blogger.com (BrandArena) — Tue, 31 Mar 2026 16:18:00 +0000

World football’s governing body FIFA has confirmed it has sold out its entire global sponsorship inventory for the 2026 men’s FIFA World Cup, underlining record commercial success ahead of the tournament.

The inventory includes both top-tier FIFA partners and tournament-specific FIFA World Cup 2026 sponsors.

Romy Gai, FIFA’s chief business officer, revealed at a conference earlier this week that the final one of 16 available sponsorship positions has now been allocated, with the brand set to be unveiled soon.

The development means only two sponsorship slots remain for the World Cup, scheduled to take place across Mexico, the United States and Canada from 11 June to 19 July. Both remaining opportunities fall under the regional tournament supporter tier.

FIFA said its commercial programme for the tournament “is on track to generate a level of revenue that surpasses previous FIFA World Cup cycles by a significant margin”.

The organisation launched a new commercial model in 2023, designed to give partners greater flexibility and access to more innovative marketing assets.

Gai commented, "This is already the most successful commercial programme in FIFA’s history, and we are still building momentum. We have seen unprecedented interest from brands across the globe, and with only two regional opportunities remaining, we expect these final positions to be filled very soon.”

Top-tier FIFA partners include Aramco, Adidas, Coca-Cola, Hyundai-Kia, Visa, Qatar Airways and Lenovo.

Recent commercial activity has also gathered pace. In January, the Marriott Bonvoy hotel chain was announced as a regional partner in a deal valued at 15 million dollars by GlobalData Sport.

Under the agreement, the company will serve as the official hotel supporter in North America for the tournament.

Earlier this month, FIFA projected revenues of more than 14 billion dollars for the 2027–2030 financial cycle, while also reporting strong financial results for 2025.

During the second year of the current 2023–2026 cycle, FIFA generated 2.66 billion dollars in revenue, exceeding its target by 225 million dollars, representing a nine per cent increase.

However, the commercial success comes against a backdrop of growing global uncertainty, with rising tensions involving the United States, Israel, and Iran fuelling concerns about geopolitical stability ahead of the tournament.

With the World Cup set to be hosted across North America, analysts warn that any escalation in conflict could impact security planning, international travel and fan participation, potentially casting a shadow over what is expected to be the largest edition of the tournament to date.

Despite these concerns, FIFA continues to press ahead with preparations, buoyed by strong financial momentum and unprecedented commercial interest as the countdown to 2026 gathers pace.

LIRS extends personal income tax filing deadline to 14 April 2026

noreply@blogger.com (BrandArena) — Tue, 31 Mar 2026 16:12:00 +0000

The Lagos State Internal Revenue Service (LIRS) has extended the deadline for filing individual annual income tax returns to 14 April 2026, offering taxpayers an additional two weeks beyond the original 1 April cut-off.

In a statement issued on Monday, the Executive Chairman of LIRS, Dr Ayodele Subair, explained that the statutory deadline for filing individual annual tax returns is 31 March each year. He noted that the extension is intended to give individuals more time to complete and submit accurate returns.

Dr Subair stated that individuals must give priority to the timely filing of their annual income tax returns, noting that compliance should be embedded as a routine personal practice.

He also reiterated that electronic filing through the LIRS eTax platform remains the only approved method for submitting annual returns, as manual filings have been completely phased out. Individuals are therefore required to file their returns exclusively through the LIRS eTax portal.

Describing the platform as secure, user-friendly and accessible around the clock, Dr Subair advised individuals to ensure that their Tax Identification Number (TaxID) is correctly captured in their submissions.

VFD Group shares fall 10% on NGX after rights issue approval despite strong investor demand

noreply@blogger.com (BrandArena) — Tue, 31 Mar 2026 16:08:00 +0000

VFD Group Plc shed 10 per cent of its market value on the Nigerian Exchange (NGX) on Monday after regulatory approval of its recent rights issue triggered a decline in its share price.

Trading data from the exchange showed the investment firm’s stock dropped to N11.25, with 5.727 million shares valued at N69.231 million traded in an open market transaction.

The decline extends VFD Group’s weak price performance, with the stock now trading about 41 per cent below its 52-week high. This comes even as financial stocks continue to attract notable investor positioning.

Over the past seven days, trading data indicates the stock moved within a narrow range of N11 to N12.50, highlighting limited upside despite a broader rally on the local bourse.

By the close of trading on Monday, VFD Group Plc, with 7.601 billion outstanding shares, recorded a market capitalisation of N85.512 billion, representing a 41 per cent drop from its 12-month high.

The Securities and Exchange Commission (SEC) recently approved the company’s rights issue of 5,067,396,400 ordinary shares valued at N50.07 billion, priced at N10.00 per share.

The offer was fully subscribed, achieving 100 per cent participation, largely driven by existing shareholders who accounted for 88 per cent of total subscriptions.

Following the approval, the newly issued shares are to be credited to investors’ accounts with the Central Securities Clearing System Plc and will subsequently be listed for trading on the NGX main board.

Separately, VFD Group Plc has raised N27.2 billion through its Series 1 Commercial Paper issuance under its N50 billion programme, after strong investor demand led to a full oversubscription of the initial offer.

The issuance, initially targeted at up to N15 billion, saw demand exceed expectations by approximately N15 billion, prompting the company to increase the offer size to N27.2 billion.

The commercial paper was issued across 270-day and 364-day tenors, attracting a wide range of qualified institutional investors and high-net-worth participants in Nigeria’s domestic debt market.

The oversubscription reflects sustained investor confidence in VFD Group’s diversified business model, disciplined capital management strategy, and long-term growth prospects.