TL;DR, Dr. Odaibo proposes a $2-10 billion AI talent development fund (minimum $1B annually) to transform Nigeria from tech consumer to global leader. Nigeria must shift from seeking foreign investment to nurturing local AI talent, following India’s IT playbook to produce global tech leaders. Practical enablers like cloud access, laptops, and merit-based rewards…
TL;DR, Nigerian engineers raised $5.8M to build Hyperbridge, a cross-chain bridge that processed $92.4M in transactions using cryptographic finality proofs instead of vulnerable multisig systems. Hyperbridge replaces flawed multisig bridges with mathematical guarantees, eliminating the $600M hack risks that have plagued blockchain interoperability since 2021. The Lagos-built protocol now serves as Polkadot’s native…
TL;DR, As AI is projected to boost Africa’s economy by up to $4.8 billion by 2030, the Nigeria AI bill aims to regulate this boom through a new National Artificial Intelligence Council (NAIC). The proposed bill requires AI developers, importers, and commercial operators in Nigeria to register with and get approval from a new…
TL;DR, The FTX Recovery Trust has withdrawn its plan to block nearly $800 million in FTX creditor payouts to 49 “restricted” nations after facing over 70 legal objections. While a victory for creditors, the withdrawal was filed “without prejudice,” meaning the Trust could still refile to restrict payments, urging continued vigilance from claimants. As payouts…
TL;DR, MTN MoMo generated $91.64 million (₦131.62 billion) in nine months, but 63% came from airtime lending, highlighting a need to diversify its core mobile money services. While telcos are losing the mobile money race to nimbler fintechs like OPay and PalmPay, MTN is recalibrating its strategy by focusing on quality users and ecosystem…
TL;DR, Nigeria is creating a single fintech regulation authority (NFRC) to streamline oversight of its $59 billion digital asset market, replacing multiple regulators. The proposed NFRC bill aims to replace fragmented oversight from the CBN, SEC, and others with a single gateway for licensing and enforcement, speeding up approvals and reducing legal costs….
TL;DR, Nigeria’s crypto transaction volume soared past $50B, largely driven by P2P crypto trading as citizens seek alternatives to a volatile Naira and untrustworthy traditional markets. Nigerians have a high appetite for risk (in crypto and gambling) but not the trust to invest in formal capital markets, which lag behind peer nations The future hinges…
TL;DR, INTERPOL’s “Operation Catalyst” cracked down on crypto terrorism financing across six African nations, uncovering $260M in suspicious flows and leading to 83 arrests. The operation succeeded by combining law enforcement with blockchain intelligence from private firms like Binance, allowing investigators to trace illicit funds used for recruitment and radicalization. In response to these threats,…
TL;DR, Nigeria, South Africa, Mozambique and Burkina Faso exit the FATF grey list. The countries achieved this by implementing major reforms, including South Africa’s new crypto (VASP) regulations and Nigeria’s improved collaboration between its Central Bank and financial intelligence units to tackle money laundering. FATF delisting hinges on 40 Recommendations, 11 Outcomes, and…
TL;DR, The NiYA Startup Pitch 1.0 named 17 NiYA tech pitch winners, who shared a $25,000 prize pool to fund their ventures in health, agritech, and AI. Ministry-backed and partner-supported, NiYA combines grants, training, and market access across five pillars to turn prototypes into scalable ventures. Healthtech and Agritech startups were the most prominent…
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