Kenya has updated its Virtual Asset Service Providers Bill, 2025, introducing stricter measures aimed at regulating the burgeoning cryptocurrency sector. The revised bill now mandates crypto firms to establish physical offices within the country, obtain licenses, and subject their executives to regulatory vetting. This move mirrors Kenya’s recent requirement for social media companies to set up a local presence, highlighting the government’s push to hold global businesses directly accountable to local authorities. By enforcing physical offices, Kenya seeks to enhance its ability to monitor operations and ensure compliance. The bill, however, has sparked debate within the crypto community. Many crypto…
Author: Abdoulaye Kay
Globacom CEO Ahmad Farroukh has resigned just one month after assuming the role in October 2024, marking one of the shortest leadership stints in Nigeria’s telecom industry. His abrupt departure has sparked questions about the telco’s internal challenges and governance style. Industry expert Ayoola Oke, a former adviser to the Nigerian Communications Commission (NCC) executive vice-chairman, described the situation as “unprecedented in the industry.” He suggested the NCC could investigate the reasons for Farroukh’s exit, citing corporate governance concerns covered under the NCC Act. Possible reason While Globacom has remained silent on the matter, insiders point to the company’s centralised…
MTN Nigeria (MTNN) saw its share price jump by nearly 10% on Tuesday following regulatory approval of a 50% tariff hike on Monday. The telecom giant’s shares closed at ₦256.30 ($0.16), marking their highest level since March 2024 and signaling a wave of investor confidence. While MTN Nigeria surged, shares of rival Airtel Africa remained flat. Unlike MTN, Airtel Africa’s stock represents its operations across 14 African markets, meaning the tariff hike in Nigeria constitutes a smaller part of its overall business portfolio. The tariff increase comes as telcos in Nigeria, including MTN and Airtel, grapple with significant foreign exchange…
On January 21, 2025, U.S. President Donald Trump announced the launch of the Stargate Project, a massive private-sector initiative focused on artificial intelligence (AI) infrastructure development. The project, a collaboration between OpenAI, Oracle, SoftBank, and the investment firm MGX, aims to invest up to $500 billion by 2029, with an initial $100 billion allocated for building state-of-the-art data centers in Texas. The initiative is expected to create over 100,000 jobs. Key figures, including OpenAI CEO Sam Altman, Oracle founder Larry Ellison, and SoftBank chairman Masayoshi Son, were present during the announcement. Masayoshi Son will serve as chairman of the project.…
The Association of Resident Doctors, Federal Capital Territory Administration (ARD FCTA), has begun a three-day warning strike to protest unpaid salaries, allowances, and poor working conditions, effectively crippling activities in government hospitals across Abuja. The President of ARD FCTA, Dr. George Ebong, announced the industrial action during a press briefing on Wednesday, emphasizing the dire state of healthcare delivery in the Federal Capital Territory. The strike, which follows the expiration of a three-week ultimatum issued to the government, affects all government hospitals in Abuja, including those in Wuse, Asokoro, Maitama, Kubwa, Zuba, Kwali, Abaji, and Nyanya. Dr. Ebong lamented the…
Students of the College of Medicine at the University College Hospital (UCH) staged a peaceful protest on Wednesday over the prolonged power outage at the hospital. The protest, which began as early as 7:00 a.m., was supported by the Students Union (SU) of the University of Ibadan (UI). The SU president, Bolaji Aweda, stated that the demonstration followed the expiration of a seven-day ultimatum given to the management of both UI and UCH. Aweda revealed that the blackout had persisted for over 82 days, severely impacting students’ living conditions and academic performance. He alleged that internal power struggles among stakeholders…
Nigeria and Saudi Arabia have renewed their commitment to building the capacity of their geological agencies by leveraging Saudi Arabia’s advancements in mineral exploration. This was disclosed by Segun Tomori, Special Assistant on Media to Nigeria’s Minister of Solid Minerals Development, Dele Alake, in a statement issued on Tuesday in Abuja. The decision emerged during a closed-door meeting at the 2025 Future Minerals Forum (FMF) in Riyadh, Saudi Arabia. The meeting was attended by Saudi Arabia’s Minister of Mining, Bandar Al-Khorayef, and Nigeria’s delegation led by Alake. Minister Alake emphasized the need for partnerships that capitalize on the economic strengths…
Google DeepMind has launched the 2025 AI for Science Scholarships, offering African students a fully funded opportunity to pursue postgraduate degrees at the African Institute for Mathematical Sciences (AIMS). This initiative aims to nurture talent in AI, machine learning, and mathematical sciences across the continent. What the scholarship covers These scholarships are comprehensive, covering: Tuition fees Living stipends Relocation costs Research expenses Recipients will also have access to essential resources such as computing tools, reliable internet, and electricity. Eligibility criteria To qualify for the Google DeepMind AI for Science Scholarship, applicants must meet the following requirements: Citizenship: Be African citizens…
Tunde Omosebi, a former All Progressives Congress (APC) presidential aspirant, has filed a lawsuit against the Central Bank of Nigeria (CBN) and several other defendants, seeking £990 trillion in damages for alleged violations of his fundamental rights. The suit, filed before Justice James Omotosho of the Federal High Court in Abuja, also includes a plea to convert the CBN into a Reserve Bank of Nigeria (RBN) and commercial banks involved in the alleged irregularities into “DRIG Bank” under the Corporate Affairs Commission (CAC). Omosebi accused the defendants, which include prominent banks and government agencies, of breaching an industrial agreement, withholding…
Minister of Women Affairs, Imaan Sulaiman-Ibrahim, has called on African countries to reinforce policies and governance frameworks to safeguard children’s rights and eliminate harmful practices. Speaking at the launch of the Community Children’s Fund at SOAS University of London, themed “Advancing Africa’s Agenda for Children 2040: Protecting Street-Connected Children in West Africa,” Sulaiman-Ibrahim emphasized the urgent need for action. “Nigerian children account for 42% of our population, yet many face extreme vulnerabilities,” she said. “Among the 3 million displaced individuals in Borno, Adamawa, and Yobe, 59% are children who endure exploitation, violence, and lack of education.” The minister highlighted stark…