Author: Olusayo Kuti

Recently, the Economic and Financial Crimes Commission (EFCC) released a list of 58 businesses that scam unwary Nigerians through illicit investment schemes, also referred to as Ponzi schemes. Among these organizations, Crowdyvest, Farmforte Limited, and Agro Partnership Tech are noteworthy. The EFCC’s dedication to cleaning up Nigeria’s financial system and…

Microsoft has revealed that Skype, its innovative communication platform, will be discontinued on May 5, 2025, marking a dramatic change in the computer industry.  For a service that once revolutionized international communication, this ruling signals the end of an era.  Skype, which was introduced in 2003, became an innovative application…

Amazon Web Services (AWS) has made a significant advancement in its quest to develop commercially viable quantum computers with the introduction of its first quantum computing chip, Ocelot.  This prototype chip has the potential to accelerate development timelines by up to five years, bringing practical quantum computing closer to reality.…

After three years of operation, Edukoya, a once-promising edtech startup in Nigeria, has formally closed, signaling yet another major departure in Africa’s unstable technology industry. The business, which had positioned itself as a digital learning game-changer, declared that it would shut down and return its investors’ money. This action was…

Alibaba Group has announced intentions to invest more than $52 billion in cloud computing and artificial intelligence (AI) infrastructure over the next three years, a daring effort to demonstrate its dominance in the quickly changing technology sector. Announced on February 24, 2025, this significant investment highlights the Chinese tech giant’s…

Fiverr, a well-known freelance platform has long been at the vanguard of the gig economy, bringing together talented individuals and clients worldwide. But in a recent decision that has generated controversy, the business is now aggressively pushing independent contractors to utilize AI to manage some of their tasks. Gig workers…

The Nigerian government has filed a lawsuit against cryptocurrency exchange Binance Holdings Limited, requesting $81.5 billion in damages in a landmark legal event. This amount includes $2 billion for unpaid taxes over the previous two years and $79.5 billion for purported economic losses linked to Binance’s activities in Nigeria. Court…

SpaceX and the South African government are at a standstill in their negotiations to license Space X’s satellite broadband service, Starlink. The main source of conflict is South Africa’s statutory requirement that telecommunications companies have at least 30% local ownership by historically under-represented South Africans, a criterion SpaceX has found…

In recent developments, several Ghanaian businesses have reported difficulties due to Bento Africa’s failure to remit taxes and pension contributions on behalf of some of its Ghanaian customers. Back in 2021, Bento Africa expanded its operations into Ghana, Kenya, and Rwanda. The firm, which has already faced criticism in Nigeria…

In a shocking move, Apple has announced a new partnership with Alibaba Group, replacing its longtime collaboration with Baidu for iPhone artificial intelligence (AI) capabilities. Apple has teamed up with Alibaba Group Holding Ltd. to create and deploy artificial intelligence features for iPhone users in China as part of an…

The largest refinery in Africa, Dangote Refinery, has recently accomplished a historic feat by successfully exporting two cargoes of jet fuel to Saudi Arabia. For Nigeria’s oil and gas sector and the nation’s attempts to diversify its economy, this momentous occasion represents a major turning point. The Dangote Refinery is…

With its planned launch in Kenya on February 15, 2025, Datamellon, a major force in the information technology industry, is poised to have a big impact in East Africa. This calculated action demonstrates the company’s dedication to supporting innovation and digital transformation in the area. Datamellon is a technology company…

The Central Bank of Nigeria (CBN) has announced a ground-breaking policy that makes banks directly responsible for fraudulent transactions that occur within their systems, a daring step to strengthen Nigeria’s financial industry against fraudulent activity. The Nigeria Inter-Bank Settlement System (NIBSS) is mandated by the CBN to debit the settlement…

The Lagos State Inland Revenue Service (LIRS) is reportedly looking into allegations of financial impropriety at Bento Africa, a well-known payroll and human resources (HR) management company in Nigeria. The business is said to have caused large financial disparities and possible legal repercussions by neglecting to pay pension contributions and…

For more than thirty years, Oando Plc, one of Nigeria’s top energy corporations, has led the nation’s energy industry. Oando is a pioneer in the Nigerian energy sector thanks to its long history of innovation, strategic alliances, and dedication to sustainability. Since its founding as a gasoline marketing corporation in…

PalmPay, a leading mobile payment platforms in Nigeria has made history by announcing that it will integrate with Zone’s controlled blockchain network. This strategic alliance has the potential to completely transform the financial services industry in Nigeria and elsewhere. To improve payment security, Zone and PalmPay have formed a partnership.…

This week, Netflix revealed a staggering quarterly report that revealed a record 18.9 million new members. The entertainment sector has been rocked by this extraordinary upsurge, solidifying Netflix’s position as the market leader in streaming services. Investor confidence in Netflix’s development trajectory was further reinforced by the announcement, which led…

Nigeria’s top online savings and investing platform, PiggyVest, has revealed that, since its launch in 2016, it has paid out more than ₦2 trillion to its subscribers. This is an incredible accomplishment which has highlighted the platform’s critical role in advancing financial knowledge and inclusion among Nigerians. In 2016, PiggyVest…

With his lofty aspirations to develop “Everything App,” Elon Musk, the visionary entrepreneur and business magnate, has been creating waves in the digital industry. This idea, which has gained popularity recently, describes a unified platform that combines several features and services to give users a smooth and comprehensive experience. Musk’s…

The US government is thinking of outlawing the well-known app for sharing short videos, TikTok, in a move that has shocked the social media community. A disputable discussion over freedom of expression, data privacy, and national security has been triggered by the proposed ban, which is presently being considered by…