Author: Oladi Samuel

Former Google CEO Eric Schmidt has raised alarm over the potential dangers of artificial intelligence (AI) falling into the hands of terrorists or rogue states, urging governments to exercise stricter oversight over private technology companies.Schmidt in an interview with the BBC, emphasized that his primary concerns about AI revolve around “extreme risks” rather than the commonly discussed issues.He specifically pointed to nations like North Korea, Iran, and Russia as potential actors with malicious intentions.The fearsHighlighting further concerns over the potential use of the technology for attacks, the former Google CEO said:“The real fears that I have are not the ones…

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A Federal High Court in Abuja has discharged the suspended Director-General of the National Broadcasting Commission (NBC), Ishaq Modibbo Kawu, from allegations of involvement in the N2.5 billion Digital Switch-Over (DSO) fraud.Justice Ogunbanjo-Giwa delivered the judgment on Thursday, ruling against the suit filed by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) in 2019.Kawu, the late Chairman of Pinnacle Communications Limited, Lucky Omoluwa, and the Chief Operating Officer of the same company, Dipo Onifade, were jointly charged before the judge.They were accused of misapplying the N2.5 billion seed grant released to NBC by the federal government for the…

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The Federal Government has raised concerns over Nigeria’s heavy reliance on textile imports, revealing that the country spends approximately $6 billion annually on foreign textiles.This dependency has severely impacted the local textile industry, leading to job losses and stifling economic growth.Minister of State for Industry, Trade, and Investment, Sen. John Enoh, made this revelation during his visit to Sunflag Nigeria Ltd. in Lagos as part of a three-day industrial tour.He reiterated the government’s commitment to reviving the textile sector, enhancing its value chain, and promoting made-in-Nigeria goods to reduce import dependency.Sen. Enoh noted that decades ago, Nigeria’s textile industry was…

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Deloitte, a global consultancy firm, has introduced a free Data Analytics Internship directed at building career prospects and bridging the skills gap in the data analysis field.The program offers participants experience with real-world data challenges and provides a certification upon completion, which can be added to their resumes to boost their professional profiles.According to The Economic Times, the internship is open to everyone, regardless of previous experience in data analytics.This is intended to make data analytics skills more accessible to a larger group.Internship overview and structure Details inform that the Data Analytics Internship is structured to offer participants the chance to…

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Raising funds as a startup in Nigeria is no small feat, but understanding the right strategies can make all the difference. On this episode of Everyday Money Matters, we break down the funding landscape for Nigerian startups—covering investor expectations, grant opportunities, and alternative financing options. Whether you’re bootstrapping or seeking venture capital, this conversation provides insights you can’t afford to miss.Watch now on Nairametrics TV on YouTube and learn how to position your startup for funding success. Don’t forget to like, share, and subscribe for more expert financial insights.

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APM Terminals Nigeria has announced its commitment to a sustained schedule of the Apapa-Moniya Standard Gauge, ensuring the seamless flow of cargo to and from the Apapa port to the Nigerian Railway Corporation Freight Yard at Moniya, Ibadan, Oyo State.Chief Commercial Officer of APM Terminals Nigeria, Caroline Aubert-Adewuyi, made this known on Monday in Lagos during the launch of the Apapa-Ibadan standard gauge rail service for container transportation.She said, “The plan for the Apapa-Moniya standard gauge rail service is that it operates like an airport conveyor belt system, receiving exports from the hinterland and evacuating imports from the port efficiently,…

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The Nigerian Railway Corporation (NRC) and APM Terminals Apapa have relaunched the Apapa-Ibadan standard gauge freight rail service, operating on a fixed schedule with departures on Mondays, Wednesdays, and Fridays.Running between the Lagos Port Complex and the NRC Freight Yard in Moniya, Ibadan, the service provides a rail alternative for container transport, easing road congestion.The relaunch follows a partnership between NRC and APM Terminals Apapa to enhance cargo turnaround, streamline evacuations, and expand rail use for exports.Speaking at the launch, NRC Managing Director, Dr. Kayode Opeifa, emphasized the longstanding collaboration between NRC and APM Terminals in container movement across Nigeria,…

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The Nigeria Extractive Industries Transparency Initiative (NEITI) and the Tertiary Education Trust Fund (TETFund) have strengthened their partnership to improve transparency in tax remittances and revenue disclosures, ensuring the effective use of funds for tertiary education development in Nigeria.During a courtesy visit by TETFund’s management to NEITI’s headquarters in Abuja, both agencies emphasized the importance of credible data access and strict tax compliance.NEITI’s Executive Secretary, Dr. Orji Ogbonnaya Orji, highlighted concerns about remittances by extractive sector companies and the need for improved accountability.“NEITI has noted with significant concerns, the remittances of the funds by liable operating entities, as well as…

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The Nigerian stock market, tracked by the All-Share Index, wrapped up the trading session ending February 12, 2025, with a strong surge, gaining 1,247.80 points to close at 107,822.52.This significant increase reflects a 1.17% rise from the previous closing figure of 106,574.71, as the index shattered the 107,000 barrier, achieving a new high.Notably, despite the upward price action, the trading volume experienced a slight decline of 3.27%, falling from 478.3 million shares traded the previous day to 461.7 million.However, market capitalization demonstrated resilience, exceeding the N67 trillion threshold and closing at N67.2 trillion across 15,629 transactions.In assessing individual stock performances,…

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The Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has sealed two filling stations and a gas plant in the Sagamu area of Ogun State, over alleged infractions, including under-dispensing of fuel and operating without approval.The enforcement exercise, led by Mr. Akinyemi Atilola, NMDPRA Coordinator for Ogun State, was carried out on Wednesday.Atilola said the stations were sealed to safeguard the lives and properties of residents.He stated that the action was part of ongoing efforts to curb the excesses of petroleum marketers and prevent the exploitation of unsuspecting customers.The two filling stations were sealed for under-dispensing fuel, while the gas…

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