Home Blog Page 62

Nduka Obaigbena Unveils “Lekeleke,” a New African-Owned Social Media Platform

0

Media mogul and founder of THISDAY and ARISE News, Prince Nduka Obaigbena, has announced plans to launch “Lekeleke,” a new African-owned social media platform intended to strengthen the continent’s presence in the global digital ecosystem.

Obaigbena revealed the project at the 2025 All Nigeria Editors Conference in Abuja, where he emphasized the urgent need for Africa to develop and control its own digital infrastructure. He warned that the continent’s rising dependence on platforms built and governed by the United States and China leaves Africa vulnerable to external influence, data insecurity, and limited autonomy.

Championing Digital Independence

Speaking to senior editors, Obaigbena said Lekeleke is part of a broader push to ensure African voices, content creators, and media institutions can thrive on platforms rooted in the continent’s cultural, economic, and regulatory realities. The upcoming platform is expected to promote homegrown innovation, protect user data locally, and provide new economic opportunities for African creatives.

He argued that Africa must move beyond being “digital consumers” to becoming architects of its own technologies, noting that local platforms are critical for safeguarding sovereignty in an increasingly data-driven world.

A New Frontier for African Tech

While details of the platform’s launch timeline and features remain under wraps, its announcement has already sparked conversations in media and tech circles about Africa’s next steps in asserting control over its digital future.

Analysts say Lekeleke could emerge as a symbolic and strategic milestone, marking one of the most ambitious attempts to establish a competitive African-owned social network on the global stage.

As preparations continue, Obaigbena’s move signals a growing recognition that Africa’s digital destiny must be shaped by Africans themselves—one platform at a time.

Ex-Access Bank Operations Head Arraigned for Alleged $510,000 Diversion, Forgery — EFCC

0

A former Head of Operations at Access Bank, Obinna Nwaobi, has been arraigned before the Federal High Court in Enugu State over allegations of diverting a customer’s $510,000 and forging a document to facilitate the fraud.

The Economic and Financial Crimes Commission (EFCC) disclosed the development in a statement released on Friday.

According to the EFCC, its Enugu Zonal Directorate presented Nwaobi before Justice F. O. Giwa-Ogunbanjo on Thursday. The defendant was docked on charges bordering on fraud, criminal diversion, and document falsification. He, however, pleaded not guilty to all counts.

Details of the Alleged Offence

Investigators allege that Nwaobi, while serving as a senior official within Access Bank, manipulated internal processes to divert the funds belonging to a customer. The prosecution also claims he forged a key document to conceal the fraudulent transaction.

The EFCC stated that the offences violate provisions of the Money Laundering (Prohibition) Act and other relevant financial regulations.

Case Continues

Following his plea, the court adjourned the matter to allow the prosecution and defence prepare for trial. Nwaobi is expected to remain in custody or meet bail conditions pending the next hearing.

The EFCC reaffirmed its commitment to pursuing financial crime cases, noting that corruption and internal banking fraud pose threats to Nigeria’s financial stability and public trust.

Further updates are expected as the trial progresses.

Paystack CTO Ezra Olubi Faces Online Backlash Over Sexual Misconduct Allegations

0

Ezra Olubi, Co-founder and Chief Technology Officer of Paystack, one of Africa’s most prominent fintech companies, has become the centre of a growing online firestorm following a wave of sexual misconduct allegations circulating across social media.

What began as a cryptic post on X (formerly Twitter) quickly spiraled into a wider scandal, prompting users to resurface old tweets, past commentary, and disputed claims tied to Olubi  many of which remain unverified. The controversy has triggered intense debates about power dynamics, personal accountability, and workplace culture within Africa’s rapidly expanding tech sector.

Paystack Responds With Internal Investigation

In response to the public uproar, Paystack issued a statement confirming that it has launched an internal review into the allegations. The company emphasized that it does not take accusations lightly and will follow its established procedures to determine whether any actions taken by its executive violated internal policies or professional standards.

Industry observers say the incident underscores the need for stronger safeguards, clearer HR structures, and transparent reporting channels within African startups, especially as companies scale and diversify their leadership.

Public Calls for Police Involvement

Beyond Paystack’s internal response, a number of Nigerians online are calling for formal involvement from law-enforcement agencies. Some social media commenters have urged the Nigerian Police to investigate what they described  based on Olubi’s own historic posts  as “self-confessed misconduct.”

However, as of now, no official complaints or charges have been publicly confirmed, and authorities have not announced any formal investigation.

A Moment of Reckoning for Nigeria’s Tech Ecosystem

The situation has sparked broader questions about ethics, corporate governance, and personal behaviour in a sector often celebrated for innovation but increasingly scrutinized for its internal cultures. Analysts warn that how Paystack and other tech leaders navigate this moment could set important precedents for accountability across the continent’s digital economy.

For now, Ezra Olubi has not issued a detailed public statement addressing the allegations, leaving the industry and the wider public waiting for clarification as the fallout continues to unfold.

Lagos Govt Outlines Measures to Ease Traffic During Lekki–Ajah Road Rehabilitation

0

The Lagos State Government has unveiled a series of measures aimed at easing traffic congestion and reducing the inconvenience caused by the ongoing rehabilitation of the Lekki–Ajah corridor, a key route for thousands of daily commuters.

In a statement released on its official X (formerly Twitter) account, the government acknowledged the concerns raised by residents and motorists over the traffic disruptions along the axis, especially with the festive season—typically marked by heavier road usage—fast approaching.

Alternative Routes and Strengthened Diversions

To mitigate gridlock, the government announced that several alternative routes are being opened, expanded, and strengthened. Among these are the Coastal Road, adjoining service lanes, and other feeder routes that can support smoother diversions while major segments of the road undergo reconstruction.

Officials say the goal is to ensure that motorists have multiple options to navigate the area without being heavily affected by the construction activities.

Night-Shift Construction Strategy Activated

The state also confirmed the implementation of a night-shift work strategy, allowing key aspects of the rehabilitation to take place when traffic volume is significantly lower. This approach, it said, will speed up delivery timelines while ensuring that daytime movement is not excessively disrupted.

According to the government, concentrating heavy construction work at night is part of a broader traffic-management plan coordinated with relevant agencies, including LASTMA and traffic enforcement units.

Government Acknowledges Residents’ Concerns

“We appreciate the concerns expressed by residents and commuters regarding the ongoing rehabilitation works,” the statement read, adding that the government remains committed to minimizing discomfort for all road users.

Authorities reiterated that the rehabilitation of the Lekki–Ajah corridor is necessary to improve long-term mobility, enhance road safety, and address years of structural deterioration.

NCP Approves Completion of Performance Agreements for Afam Power Sale

0

Abuja — The National Council on Privatisation (NCP) has given the green light for the Bureau of Public Enterprises (BPE) to finalize Performance Agreements (PAs) with Transcorp Power Consortium concerning the sale of Afam Power Plc and Afam III Fast Power Limited.

The approval was granted during the NCP’s third meeting of 2025, chaired by Vice President Kashim Shettima at the Presidential Villa, Abuja. The decision follows a memorandum presented by BPE Director-General, Ayodeji Ariyo Gbeleyi.

According to Gbeleyi, the new PAs are intended to formalize outstanding post-acquisition obligations while setting operational benchmarks to ensure the commercial viability of Afam’s power assets. He noted that the Federal Government had already received N53.9 billion from the privatization proceeds, with the assets fully transferred to Transcorp Power Consortium following the initial transaction in November 2020.

The DG further explained that government restructuring in early 2024 necessitated updated documentation to align the original agreements with revised performance expectations, investor commitments, and regulatory requirements.

The move marks a key step in consolidating the privatization of one of Nigeria’s strategic power assets, ensuring that both investors and the government meet mutually agreed operational targets.

Hong Kong Expands Short-Term Visa Scheme to Attract Global Professionals

0

Hong Kong — The Hong Kong Special Administrative Region (SAR) government has expanded its Immigration Facilitation Scheme for Visitors Participating in Short-term Activities in Designated Sectors (STV Scheme), making it easier for international professionals to enter the city for work-related engagements.

The STV Scheme allows foreign professionals to participate in short-term activities, including meetings, events, and projects within approved sectors, without the need for a full employment visa. Visitors under the program can stay in Hong Kong for up to 14 days per visit.

According to authorities, the initiative is aimed at promoting international knowledge exchange and facilitating the participation of global talent in key economic sectors.

Under the scheme, invited participants do not require an employment visa or entry permit, streamlining the process for professionals seeking brief but productive visits to Hong Kong.

The expansion is part of Hong Kong’s broader strategy to strengthen its position as a hub for international business and professional collaboration.

Nairametrics Launches Nigeria Mega Corporate Index (NMX-100) to Track Top Companies

0

Lagos — Nairametrics has officially unveiled the Nigeria Mega Corporate Index 100 (NMX-100), a new data-driven platform that ranks Nigerian companies generating at least N100 billion in annual revenue.

The index, built on the latest audited financial statements, provides a transparent and reliable snapshot of corporate performance across Nigeria’s leading sectors. It offers easy access to detailed financial information for over 100 top companies, including key performance indicators such as revenue, profit, dividends, and other critical metrics.

Designed for investors, business leaders, and analysts, the NMX-100 aims to be a one-stop resource for financial insights, enabling informed decision-making and fostering greater transparency in the Nigerian corporate landscape.

This initiative reflects a growing effort to highlight corporate performance and strengthen accountability among Nigeria’s largest businesses.

AfDB Approves $100 Million Loan to Boost Sustainable Infrastructure in Africa

0

Abidjan — The African Development Bank (AfDB) has approved a $100 million loan to the Emerging Africa and Asia Infrastructure Fund (EAAIF) to support sustainable infrastructure development across the continent.

According to a statement published on the bank’s website on Friday, the financing is intended to unlock private capital and fund transformative projects in renewable energy, transport, digital connectivity, and other critical sectors.

The facility, approved by AfDB’s Board of Directors, is part of the Bank’s broader strategy to address Africa’s infrastructure financing gap and promote resilient, inclusive economic growth.

The loan also forms a component of EAAIF’s debt-raising programme, under which the Fund aims to secure $300 million in long-term capital in 2025 and deploy more than $850 million across Africa and Asia by 2027.

The statement did not disclose specific countries where the projects will be implemented, but the initiative is expected to play a key role in accelerating infrastructure development across the continent.

Rising Healthcare Costs Push Up Insurance Premiums Across Nigeria

0

Lagos — Escalating prices of drugs and hospital consumables are reshaping Nigeria’s healthcare financing landscape, prompting hospitals to raise service tariffs and compelling Health Maintenance Organisations (HMOs) to increase premiums across the board.

Industry sources attribute the adjustments to inflationary pressures, rising import costs, and growing operational overheads. The financial strain is increasingly being passed on to consumers, many of whom are struggling to afford quality healthcare.

Between 2024 and 2025, health insurance premiums have surged significantly, with increases ranging from 8% for basic plans to as high as 59% for top-tier coverage. Previously, Nigerians paid annual premiums ranging from N79,500 to N1.379 million; the revised rates now span from N86,500 to N1.939 million.

The steep adjustments reflect an industry-wide restructuring as healthcare providers and insurers adapt to a rapidly rising cost environment, underscoring the urgent need for policies that can make healthcare more affordable and sustainable for Nigerians.

Vodacom Partners with Starlink to Expand Internet Access Across Africa

0

Johannesburg — Vodacom Group has announced a strategic partnership with Elon Musk’s Starlink to enhance internet connectivity across Africa, with a focus on underserved rural areas.

Under the collaboration, Vodacom will integrate Starlink’s satellite backhaul technology into its network infrastructure, improving coverage and service reliability in regions with limited terrestrial connectivity. Additionally, Vodacom will resell Starlink equipment and services to small and medium-sized enterprises (SMEs) and larger enterprises, helping bridge the digital divide across the continent.

The partnership marks a significant step in leveraging satellite technology to expand internet access in Africa, supporting both business growth and digital inclusion initiatives.