News
Championing Financial Literacy in the Digital Economy

Digital technology has made financial services borderless and allowed access to other countries’ financial products and services. Financial markets have become more digitized, and new currencies have been birthed. The advent of this global digitized financial economy poses challenges for players and investors alike.

Therefore, it is essential to understand the new trends welcomed by emerging technologies and keep up with the changing tools affecting the markets. Therefore, there is a need for financial literacy to equip individuals with the requisite knowledge of the changing global markets.
The eGold developed by an oncologist, Douglas Jackson, began the financial space’s evolution through digital technology. Since then, the global financial market has witnessed a digitized advancement in markets and commodities. Before now, the financial sector comprised stagnant banking systems with obsolete infrastructures that take days and sometimes weeks to complete transactions around the world.
Today, eCurrencies and cryptocurrencies have flooded the global financial space. Governments are finding new ways to develop local currencies into a more digitized and acceptable medium of trade and exchange.
In 2019 the Chinese government unveiled the country’s digital currency called the digital yuan (e-CNY), which began trial in April 2020. Likewise, President Muhammadu Buhari of the Federal Republic of Nigeria, on the 25th of October 2021, unveiled the Central Bank Digital Currency (CBDC) called the eNaira.
According to Atlantic Council’s Geoeconomics Center, over 75 other countries explore digital currencies. In contrast, island countries like the Bahamas, Saint Kitts and Nevis, Antigua and Barbuda, Saint Lucia, and Grenada have fully launched into space. Therefore, it is evident that as governments are developing and backing eCurrencies within their markets, there is a need for financial literacy to provide financial inclusion amongst citizens.
As a consequence of the changing financial structure, digital financial literacy has become essential for educating and empowering individuals to evaluate their options in the financial marketplace and take suitable actions in a way that is relevant to their lives. Evidence shows that digital financial literate individuals are more likely to have a fulfilled life, more savings, and greater economic independence.
Digital financial literacy has become recognized as a requirement for effective financial inclusion and has gained an important position in the policy agenda of many developed countries. The goal of digital financial literacy is to contribute to poverty reduction and economic inclusion objectives of developing economies.
Hence, it is significant for developing countries like Nigeria to embrace financial academies to support the government’s effort in enhancing human capital development so that citizens can be more financially independent to allow economic growth and development.
With digital technologies changing the value proposition of financial products, services, and digital currencies, educational institutions invested in providing financial literacy for Nigerians like OBG financial academy, which leverages market insights and innovative tools to educate citizens on how best to navigate the new financial space should be instituted.
OBG Academy also provides expanded access to financial knowledge, tools, and the requisite resources needed for financial freedom. It enhances financial inclusion, promotes wealth creation and human capital development.
Digital financial literacy makes a difference in the quality of life. It equips citizens with the knowledge of financial investments, gives them the discipline to save and ensures they enjoy a dignified life with little dependence on governments and their provisions. Financially literate individuals can benefit the economy by encouraging genuine competition, forcing innovations and improving efficiency.
News
Firms Commit to Boost African Robotics Market

AfricAI and Micropolis Robotics have signed a multi-year exclusive distribution and deployment agreement, which marks one of the continent’s most significant robotics market entries.

Micropolis AI Robotics is a United Arab Emirates-based robotics manufacturer operating in autonomous systems, while AfricAI is a company building practical, revenue-driven artificial intelligence (AI) systems for African businesses, governments, and global partners operating in emerging markets.
According to the agreement, Micropolis Robotics named AfricAI as its exclusive continental partner, prohibiting direct sales, alternative distributors, and third-party agents from operating in the territory.
The partnership establishes AfricAI as the primary execution, localisation, and go-to-market platform for intelligent robotics in Africa’s industrial, security, logistics, and infrastructure sectors.
AfricAI said this exclusive mandate positions the company as the gateway for advanced autonomous systems entering African markets, ensuring regulatory compliance, local capacity building, and sovereign control over deployment frameworks.
The partnership, according to the two parties, moves beyond software- based AI into the realm of physical AI — intelligent machines capable of operating in complex, real-world African environments.
“This is not a collaboration, it is a market-shaping mandate,” said Fareed Aljawhari, CEO of Micropolis Robotics. “AfricAI now represents the exclusive gateway through which Micropolis technologies enter Africa. Their sovereign AI vision, operational reach, and regulatory fluency make them the only partner capable of executing at a continental scale.
Furthermore, the agreement enables AfricAI to integrate Micropolis’ autonomous robotics systems with AfricAI’s sovereign AI stack, resulting in AI-powered security and surveillance platforms, robotics-enabled logistics and port operations, industrial automation, smart infrastructure, and municipal robotics tailored to African operating conditions.
Initial deployments will commence in security, smart infrastructure, and logistics, with phased expansion across multiple African states as part of AfricAI’s broader continental AI, data, and intelligent infrastructure strategy.
The agreement also includes long-term performance-linked expansion rights, automatic renewals, and a defined localisation framework to support robotics deployment, workforce training, and skills transfer across Africa.
Prince Malik Ado-Ibrahim, executive chairman of AfricAI, said: “Africa does not need imported automation — it needs sovereign, context-aware intelligent systems. This exclusive mandate allows AfricAI to industrialise robotics deployment at scale while retaining control, compliance, and value creation on the continent.”
News
Subair: LIRS Won’t Raid Accounts – Unless You’ve Lost Every Court Battle

Lagos State Internal Revenue Service Executive Chairman Ayodele Subair Tuesday demolished online panic over alleged bank account raids, insisting the agency’s “Power of Substitution” targets only hardcore tax dodgers who have exhausted every appeal from tribunals to the Supreme Court over half a decade of disputes.

Ayodele Subair
Subair, speaking on Arise TV, shredded viral fears that LIRS would swoop on residents’ savings without warning, clarifying the mechanism under Section 60 of the Nigeria Tax Administration Act 2025 kicks in solely after assessments spark objections, reconciliations, demand notices, and a gruelling courtroom odyssey through High Court, Court of Appeal, and apex rulings.
The LIRS weekend notice had ignited fury by announcing enforcement via third parties – banks, employers, tenants, debtors – to claw back unpaid Personal Income Tax, Capital Gains Tax, Stamp Duties, and Withholding Tax from chronic defaulters holding funds or owing money to them, whether due now or accruing later.
Subair likened the process to a “long timeframe, not less than five years,” where recalcitrant bigwigs who stonewall every step become fair game, with LIRS directing agents like customers or partners to divert payments straight to the taxman in lawful settlement.
Far from arbitrary grabs, the chairman stressed it’s a final resort for “entirely recalcitrant” holdouts who ignore Notice of Refusal to Amend (NORA) and every olive branch, ensuring Lagos coffers snag rightful revenue fuelling the state’s bulging budget without shotgun raids on compliant payers.
As social media buzzes with defiance – “They can’t touch my account!” – Subair’s blueprint spotlights Nigeria’s tax evasion scourge starving subnationals of trillions yearly, with Lagos alone chasing billions in arrears amid federal revenue wars and economic headwinds squeezing the commercial capital’s 25 million souls.
Industry voices nod to the legality but plead for digital dashboards tracking disputes transparently, warning overzealous recovery could spook investors in Africa’s fintech and startup mecca already reeling from naira nosedives and grid glitches.
With LIRS poised to unleash the hammer on vetted violators, Subair’s clarion call aims to separate myth from muscle, bolstering Lagos’ IGR juggernaut that hit N815 billion last year while daring defaulters to test the full judicial gauntlet before crying foul.
News
NIGCOMSAT Adopts Government’s Performance System

Nigerian Communications Satellite (NIGCOMSAT) Ltd, in a strategic move to modernise its operations and foster a results-oriented workforce, has officially adopted the Federal Government’s Performance Management System (PMS).

The initiative, aimed at driving efficiency and institutionalising accountability, was marked by an intensive staff training program designed to align the agency’s operations with national performance goals and the Presidency’s vision for a digital-first public sector.
According to a statement from Stephen Kwande, the Agency’s acting head of Corporate Affairs, “the transition to PMS is a departure from historical evaluation methods. The new system is designed to provide real-time performance tracking and instill a stronger work ethic across all directorates”.
Welcoming participants, Mrs. Jane Nkechi Egerton-Idehen, managing director/CEO of NIGCOMSAT, represented by Abiodun Attah, executive diirector, Technical Services, described the adoption as “long overdue.”
She emphasised that the system is critical for ensuring that NIGCOMSAT contributes effectively to Nigeria’s broader digital economy targets.
In her opening remarks, Mrs. Chinwe Udogu, general manager, Human Resources Management, expressed NIGCOMSAT’s enthusiasm for the program, urging staff to dedicate themselves fully to the three-day training.
She noted that the exercise was pivotal in repositioning the company to achieve its highest aspirations.
The training consultant, Mrs. Njoku Chioma, said the program is expected to drive culture change, automate work processes, and strengthen institutional performance.
The three-day training, jointly organised by the Office of the Head of Service of the Federation and NIGCOMSAT Management, covers key themes including:
• Overview of the FCSSI25 as an institutional performance-driven Federal Civil/Public Service
• Service culture and workplace attitude in the Nigerian public sector
• Implementation of the Performance Management System in NIGCOMSAT
• Application of Artificial Intelligence tools to enhance performance in the Nigerian public sector
The move comes at a time when NIGCOMSAT is expanding its footprint, with recent initiatives like the 2026 SpaceTech Accelerator Programme and partnerships for grassroots digital skills training.
By strengthening its internal management framework, the agency aims to ensure that its technical advancements in satellite technology are matched by an equally efficient administrative engine.
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