Author: Moyosore Rokosu

OpenAI is acquiring Jony Ive’s startup, LoveFrom io Products, in a $6.5 billion deal that will see the former chief designer of the early iPhones join as creative head, tasked with developing devices designed specifically for the generative AI era. In the field of generative AI devices, where startups have faltered owing to high computational demands, including failures like Humane’s AI Pin, LoveFrom, the design studio Ive created after leaving Apple, has been collaborating with OpenAI for two years. With Ive leading design, OpenAI aims to pair the technology behind its popular ChatGPT chatbot with the product design expertise that…

The Central Bank of Nigeria (CBN) has issued a total of N655.25 billion in Open Market Operation (OMO) bills to investors during its latest primary market auction, as part of efforts to partially refinance maturing obligations amounting to N1.14 trillion. Local financial institutions and international portfolio investors were among the market participants targeted by Tuesday’s auction, according to data from MarketForces Africa. A solid bid-to-offer ratio of 1.5x was achieved when the monetary authority offered N500 billion spread across two longer-tenure maturities, generating significant interest. Investors showed keen interest in the auction, with total bids reaching N743.25 billion, underscoring the…

The Nigerian naira continued its bullish momentum in the official foreign exchange market this week, driven by a 48% surge in foreign exchange (FX) inflows—a development that has greatly enhanced market liquidity. Data from Coronation Research showed that total FX inflows into the Nigerian Autonomous Foreign Exchange Market (NAFEM) rose to $914 million, compared to $619 million in the previous week. This represents a week-on-week increase of 47.66%, demonstrating growing investor confidence and improved supply dynamics. The naira closed the session at N1,584 to the US dollar at the Central Bank of Nigeria (CBN) window and N1,582 on the FMDQ…

The Central Bank of Nigeria (CBN) has revealed that Nigeria spent approximately $2.01 billion on external debt servicing between January and April 2025, marking a 50% surge compared to the $1.33 billion spent during the same period in 2024. The data also shows that debt servicing made up 77.1% of the country’s total international payments—significantly higher than the 64.5% recorded in the previous year. As of April 2025, total international payments—which include letters of credit, remittances, and debt service—amounted to $2.60 billion, up from $2.07 billion during the same time period in 2024. These numbers demonstrate how Nigeria’s foreign exchange…

Tottenham Hotspur have ended their 17-year trophy drought by clinching the UEFA Europa League title with a 1-0 victory over Manchester United in the 2024/2025 season final. Just before halftime, in the 42nd minute, Brennan Johnson took advantage of a United defense slip in focus to bury the ball past André Onana, throwing the Spurs supporters into a frenzy. This was the pivotal moment in the European match. The atmosphere at the sold-out stadium was electric as both teams began with intensity. Manchester United made an assertive start, with Rasmus Højlund pressing aggressively and Bruno Fernandes probing space, though Spurs…

Five individuals have been handed prison sentences for racially abusing Real Madrid forward Vinicius Jr during a league match earlier this season. On Wednesday, April 21, Spanish La Liga, which is fighting racism in football throughout Spain, verified this development. During a December 2022 match against Real Valladolid, Vinicius Jr faced racial abuse from fans as he left the field after being substituted. The Provincial Court of Valladolid responded with a one-year prison sentence for the offenders, with fines ranging from 1,080 euros to 1,620 euros. These prison terms are suspended on the condition that the offenders do not engage…

Nollywood actress Mercy Aigbe has revealed that she wouldn’t wish single motherhood on anyone, describing the experience as exhausting and emotionally draining. In an interview on the “Real Talk with Kike” show, the actress acknowledged that being a single mother is difficult because it is difficult for one person to play two roles. Mercy Aigbe said she often prays for her kids to have a lasting marriage because she does not wish single motherhood on anyone. According to the actress, the fear of failure made her tough on her kids while raising them, stressing that she had already failed by…

President Bola Ahmed Tinubu is set to assess the performance of his ministers on May 29, coinciding with the second anniversary of his administration. The Central Results Delivery and Coordination Unit (CDCU) of the Presidency is in charge of organizing the evaluation, and a comprehensive report is currently nearing completion. Presidency sources confirmed that ministries submitted documentation of their projects and programmes through a secure portal in April. The CDCU has completed verifying these submissions, and the final scorecards will be presented to the President before the anniversary. “Officials of the various ministries have uploaded the reports of their activities…

Dangote Petroleum Refinery and Petrochemicals has reaffirmed its commitment to keeping petrol prices stable in Nigeria, despite persistent fluctuations in the global crude oil market. In a statement released on Monday in Lagos, the Group Chief Branding and Communications Officer, Mr. Anthony Chiejina, emphasized the company’s dedication to reducing the financial strain on Nigerian consumers while contributing to overall economic stability. Chiejina pointed out that Dangote has continuously lowered the price of Premium Motor Spirit (PMS), demonstrating the refinery’s dedication to offering reasonably priced, superior petroleum products without sacrificing sustainability or efficiency. “This decision reflects our unwavering dedication to delivering…

Global oil prices surged on Tuesday after reports emerged that Israel might be planning a military strike on Iran’s nuclear facilities, according to U.S. intelligence cited by CNN. The development has intensified fears of renewed instability in the Middle East, a region that supplies roughly one-third of the world’s oil. West Texas Intermediate (WTI) futures experienced a more pronounced rise, rising as high as 3.5% to $64.19 a barrel, while Brent crude for July delivery closed the session slightly lower, dropping 0.2% to $65.38 per barrel. CNN, quoting unnamed U.S. officials, reported that Israeli military and political leaders are in…