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  Nigerian lending software startup, Lendsqr, is building an artificial intelligence model that analyses borrowers’ voices and faces to determine if they qualify for a loan. The model , which the company says is 76% accurate, will help Nigerians without financial documentation apply for small ticket-sized loans between ₦30,000 ($18) and ₦50,000 ($31) from lenders . Before lenders issue loans, they have to tick off a list of requirements to determine a borrower’s creditworthiness, and most lenders rely on the five Cs: character, capacity, capital, collateral, and conditions. Lendsqr’s model will help lenders judge borrowers’ capacity to repay the loan and their intention to repay . “Can we help vulnerable people prove their capacity and character, not through paperwork but through their words? That’s the thinking behind this AI project,” Adedeji Olowe, Lendsqr’s CEO, told TechCabal. How the model works When borrowers apply for a loan through Lendsqr, they can talk to the A...

  Nigeria’s Central Bank has fined Paystack, one of the country’s most prominent fintech companies, ₦250 million ($190,000) for allegedly operating its newly launched consumer product, Zap by Paystack, as a wallet in violation of its regulatory licence , according to one person with direct knowledge of the matter. The apex bank claims that Zap—a peer-to-peer money transfer app launched in March—functions as a deposit-taking product, which is reserved for financial institutions with a microfinance or banking licence . Paystack holds a switching and processing licence, which permits it to route financial transactions between banks and other institutions, but not to hold customer funds. That limitation is central to the CBN’s sanction, the person said. “ Paystack is working closely with the regulator as they further review Zap, and out of respect for the process, we won’t be making any public comments at this time ,” a Paystack spokesperson told TechCabal. In Nigeria’s t...

  Recently, the Edo Governorship Election Tribunal delivered judgement on the petition of the PDP Governorship candidate on the 2024 Edo State Governorship Election which the Independent National Electoral Commission (INEC) declared the APC candidate as the winner. The PDP had complained that the APC did not win the highest number of valid votes and that the election was marred by substantial irregularity because of non-compliance with the strict requirements of the law. Shorn of legal jargon, the petition simply alleged that INEC rigged the election for the APC, that the APC candidate was nor duly elected. The judgement of the tribunal is now a matter of public discourse because it is not just a judicial determination. It goes beyond that. It is a metaphor for what has become the fate of democracy in Nigeria. The problem with judicial involvement in election disputes in Nigeria is not because it is leading to the judicialization of politics. The problem is the gradu...

  MTN Nigeria recorded a N1 trillion revenue in the first quarter of this year, buoyed by the recent tariff increment implemented in the middle of February 2025. Compared with the N752.9 billion recorded in Q1 2024, this represents a 40.5% increase in revenue year-on-year, even as the impact of the tariff adjustment has yet to be fully realized. According to its Q1 2025 unaudited financial results just released, the company bounced back to profitability in the quarter, posting N133.7 billion profit after tax compared with the N392.7 billion loss it recorded in Q1 2024. Meanwhile, in line with one of the conditions given by the Nigerian Communications Commission (NCC) for the approval of the 50% tariff increment, the company also increased its investment in network capacity, spending N202.4 billion in the first three months of the year. This represents a 159% increase in CAPEX for the company when compared with the N78.1 billion it spent in the same period of 2024. Su...

  In 2017, Nestlé launched more than 1000 new, nutritious products and contributed to over 41,000 job and traineeship opportunities through its Nestlé Needs YOUth initiative. Furthermore, the company has reduced its greenhouse gas emissions by over 30% in the last 10 years. The 2017 Nestlé in society – Creating Shared Value report (pdf, 15Mb) details the company’s progress on key commitments. The report covers the company’s impact on individuals and families, communities and the planet, supporting the 17 UN Sustainable Development Goals. It highlights some of the ways Nestlé employees worldwide are working to fulfill the company’s purpose of enhancing the quality of life and contributing to a healthier future. Guided by values rooted in respect, Nestlé promotes transparency and accountability in its business and its interactions with communities where it operates. The Nestlé in society report is independently verified by Bureau Veritas. Nestlé is proud to b...

  Nestle Nigeria Plc has continued its recovery path, reporting a pre-tax profit of N51.15 billion in Q1 2025, marking a strong rebound from the N196.086 billion loss posted in the same period of 2024. This follows a return to profitability in Q4 2024 and signals growing stability in the company’s financial performance. The unaudited results also show a post-tax profit of N30.178 billion, representing 121 year-on-year growth. Insights Nestle Nigeria has extended its recovery streak, turning in another profitable quarter. After bouncing back to profit in the last quarter of 2024, the company has kept that momentum going in early 2025. The strong performance came from a big jump in sales, which grew much faster than the cost of producing its goods. This helped the company make more money from each sale, boosting its overall profitability. Even though it spent more on marketing and running the business, it still managed to increase its operating profit by more than double. ...

  While most countries have just one capital city, a few around the world take a different approach, splitting national duties across two or even three capital cities. Whether for historical, political, or logistical reasons, these nations have chosen to spread out their centers of power. From South Africa’s trio of capitals to Bolivia’s high-altitude split, here are 10 countries that operate with more than one capital city—and why. 1. South Africa South Africa is a pretty unique country. it has three capital cities instead of one like you would expect. South Africa has Pretoria; the administrative capital, Cape Town the legislative capital, and Bloemfontein the judicial capital. In layman words Pretoria handles the government’s day-to-day stuff, Cape Town is where laws get made, and Bloemfontein takes care of the courts. This setup spreads power out across the country and helps make sure different regions and groups have a say. Cape Town is super popular with tourists d...

  REMARKS BY HIS EXCELLENCY, PROF. YEMI OSINBAJO, SAN, GCON, VICE PRESIDENT, FEDERAL REPUBLIC OF NIGERIA, AT THE LAUNCH OF THE AGRICULTURAL SECTOR ROADMAP, THE GREEN ALTERNATIVE AGRICULTURE PROMOTION POLICY ON AUGUST 15, 2016. PROTOCOLS I am pleased to be here this morning to participate in this epochal event, the launch of this Administration’s Agricultural Sector Roadmap, befittingly described as The Green Alternative Agriculture Promotion Policy 2016 -2020. The present administration came into office to meet an economy essentially in meltdown. We realise that we had to make difficult decisions, and in short-medium term, in order to repair the huge damage done. Despite the dependence on oil, but worse by not investing in infrastructure or deepening the base from our economy, or even building our reserves when oil sold at over a hundred dollars a barrel, we knew that we had to set aright the economy and put that economy of the past to inclusive growth, with job oppor...

  Sanwo-Olu accuses Peter Obi of lacking the moral right to criticise Nigeria’s poverty situation, citing his poor record in Anambra. In a rare intervention, the governor of Lagos state, Babajide Sanwo-Olu, Sunday, took on the presidential candidate of Labour Party (LP) in the 2023 general election, Peter Obi, claiming the former Anambra State governor lacks the moral right to talk about poverty in Nigeria. In a statement he personally signed, titled, “Factually Addressing Mr. Peter Obi’s Criticism of Nigeria at Johns Hopkins University,” Sanwo-Olu accused Obi of contributing to the current poverty in the country, and alleged that under him as governor in Anambra State, the menace grew astronomically. During his remarks at Johns Hopkins University, Obi had drawn a comparison between Nigeria, China and Vietnam in the area of poverty, stressing that Nigeria, with about 50 million poor people, had the least number of people in poverty in 1990 than any of the three count...

  Under the leadership of President Bola Ahmed Tinubu, Nigeria has secured $5.5 billion in private sector funding for 22 new large-scale health sector manufacturing projects. According to the Coordinating Minister of Health and Social Welfare, Muhammad Ali Pate, the Federal Government has also partnered with the Empower School of Health (Geneva) to establish the Empower Academy Nigeria — Africa’s foremost pharmaceutical manufacturing training institute. This development follows Nigeria’s recent success in securing €1 billion from the European Investment Bank (EIB) and $1 billion from Afreximbank to support health sector value chain localization. Empower Academy Nigeria will: - Focus on training a world-class workforce for pharmaceutical manufacturing. - Support local production of pharmaceutical excipients, APIs, inhalers, extended-release medications, dermatological patches, and more. - Train and upskill up to 2,000 Nigerian professionals annually. -Offer cert...

  Despite facing systemic barriers and discrimination, there are some women who have continued to break through glass ceilings, being at the forefront of innovation and business success and paving the way for future generations. One of these is Dr. Stella Chinyelu Okoli. Aside from leading the way to economic freedom, this pharmacist turned entrepreneur is more concerned about the wellbeing of every soul, thus her commitment to world-class pharmaceutical products and services. At 81, one would have expected the Nnewi, Anambra State-born businesswoman to have relaxed a bit to enjoy the return on her almost five decades of multi-billion naira investment in Emzor Group. But this woman is untiring as she still engages in various mega industrialization projects. Her recent one is the N35 billion Active Pharmaceutical Ingredients (API) manufacturing plant in Sagamu, Ogun State. Despite significant risk associated with manufacturing of pharmaceutical products in the country,...

  The five year multiple entry Schengen visa grants travellers the freedom to enter any of the 29 Schengen countries multiple times over five years, as long as their stay doesn’t exceed 90 days within any 180-day period. This visa is especially suited for frequent travellers, business professionals, and those with a proven track record of international travel. It streamlines the travel process by removing the need for repeated applications, cutting down on visa fees and processing times, and offering greater convenience through simplified documentation and fewer interview requirements. Visa issuance ultimately depends on the discretion of the embassy or consulate. However, applicants with a higher chance of approval typically include those who have previously held a multiple entry Schengen visa valid for at least two years within the past three years, frequent travelers who visit the Schengen Area two to three times annually, and individuals with a strong history of ...

  Season 10 of the Nigerian Idol has started today 20th April 2025. The host is Ik Osakioduwa. The judges are; Omowumi Ric Hassani Iyanya Re: Nigerian Idol Season 10 (Live Updates)

  The Federal Government has concluded plans to relaunch its Renewed Hope National Home-Grown School Feeding Programme (RH-NHGSFP) on May 29, 2025. This was disclosed by the Minister of State for Humanitarian Affairs and Poverty Reduction, Dr Yusuf Sununu, during a meeting with development partners, NGOs and government officials on Wednesday, April 23, 2025, in Abuja. The relaunch is coming against the background of the controversies and fraud allegations that had trailed the programme. Sununu revealed that the relaunch would take place on May 29 as part of activities to mark President Bola Tinubu’s second year in office. He said the programme aims to combat child hunger and improve educational outcomes across the country, adding that its holistic design includes the provision of daily nutritious meals using locally sourced ingredients to support both children’s health and local farming communities. 10 million children to benefit The minister stated that the programme...

  WhatsApp LLC has said the judgment delivered by the Competition and Consumer Protection Tribunal, which affirmed the authority of the Federal Competition and Consumer Protection Commission (FCCPC) to penalise the platform and its parent company, Meta Platforms Incorporated, for anti-competitive practices, would affect its operations in Nigeria . WhatsApp, in a statement sent to LEADERSHIP Sunday yesterday, said the platform’s ability to operate both in Nigeria and globally is inseparable from the infrastructure provided by Meta. “ WhatsApp relies on limited data to run our service and keep users safe, and it would be impossible to provide WhatsApp in Nigeria, or globally, without the infrastructure of our parent company, Meta. The FCCPC order contains multiple inaccuracies and misrepresents how WhatsApp works, and we are urgently applying to stay the order and appeal today’s decision to avoid any impact to users ,” it said. Recall that the tribunal, led by Hon. Tho...

  In January 2024, the Nigeria Immigration Service quietly piloted what may prove to be its most ambitious reform in two decades: a contactless biometric passport and a fully remote application platform. The digital booklet looks familiar—green cover, gilded crest—but embedded inside is a next‑generation chip that stores the holder’s photo, signature, 10 fingerprints and an encrypted facial template. Far more radical than the booklet itself is the way Nigerians can now apply. All they have to do is download the NIS Mobile App or visit www.passport.immigration.ng. The entire application, officials say, can now be completed on a smartphone by logging into the upgraded portal, authenticating with National Identification Number, uploading a digital signature and paying a single consolidated fee via NIBSS or Remita. Once an automated queue manager issues a QR‑code token, the applicant visits an enrolment centre only once for live‑capture. Production is decentralised to new...