News
FirstBank Supports Schools, Parents with Financial Educational Solutions

First Bank of Nigeria Limited has restated its determinations in supporting schools with their business requirements to promote preparations for the school year, through its array of educational based products and solutions.
The lender said through its collections of products are targeted at enabling schools to acquire their required educational facilities to boost the continued expansion of their schools whilst empowering parents and guardians to seamlessly send their wards back to school.
The Bank explained that its educational products and solutions include the FirstEdu Loan, Operational Vehicle Loan, Term Loans for constructing new sites and extension of existing sites, Personal Loan against Salary (PLAS) and Salary Overdraft (SODA) which enhances parents’ capacity to pay their children’s school fees.
The FirstEdu loan is targeted at private Nursery, Secondary and A-Levels schools. The product offers an opportunity for private schools to access flexible funding to meet urgent cash flow needs, replace old furniture and equipment, as well as refurbish dilapidated buildings and classroom blocks.
With this product, school owners/proprietors can stay ahead of the competition in providing educational services and support to the target population by maintaining an acceptable standard infrastructure at all times.
This product allows the customer access up to N10 million with no tangible collateral required apart from the domiciliation of school account with the Bank.
This reduces the cost of borrowing to the customer and eliminates the challenges posed by the provision of additional demanding collaterals. The Operational Vehicle Loan is targeted at registered businesses.
It allows the entrepreneur to acquire brand new vehicles for the day to day operation of the business.
Organisations can take advantage of this facility to purchase school buses in the case of school proprietors and even upscale their staff welfare schemes through the provision of staff buses. The product terms and conditions are competitive.
Personal Loan against Salary (PLAS) offers customers in paid employment access to cash to meet immediate financial needs such as payment of school fees, medical treatment, holiday expenses, etc. PLAS has a flexible repayment plan spread up to 48 months for our customers’ convenience.
There is no equity contribution or collateral requirement. The Salary Overdraft Account (SODA) is also available to customers who want short tenured overdraft to meet immediate financial needs. SODA can be dispensed as a one-off overdraft for 30 days with up to 40% net salary and a revolving overdraft for 90 days with 25% of applicant’s average previous 3 months net salary.
Only a salary account will qualify one to access PLAS and SODA if one works with any of FirstBank’s approved list of employers.
FirstBank’s educational facilities are offered without collaterals. So as the new school term resumes, the Bank has the right products just for you and is poised to constantly provide the platform to support the life styles of its teeming customers.
Customers and stakeholders are enjoined to visit any FirstBank branch for further information about its school solutions.
News
FG Unveils AI Public Services Platform

Federal government has launched GovGuideNigeria, an artificial intelligence (AI)-powered digital platform designed to streamline access to public service information through WhatsApp and the web.

The platform consolidates information from more than 35 federal ministries and over 60 government agencies, marking a significant step in Nigeria’s drive to expand AI-enabled public infrastructure and digital government services.
According to Bosun Tijani, Nigeria’s minister of communications, innovation and digital economy, the initiative aims to simplify interactions with government services, particularly for underserved communities that often face challenges navigating complex public-sector systems.
Developed in collaboration with the National Centre for Artificial Intelligence and Robotics, Meta, and Publica AI, GovGuideNigeria uses conversational AI to provide real-time responses via WhatsApp and a web interface in English, Hausa, Igbo and Yoruba.
Sade Dada, head of public policy at Meta, said the multilingual rollout highlights the growing use of natural language processing within African public institutions to improve digital inclusion and broaden access to services.
Ignatius Willie, chief executive of Publica AI, said the platform demonstrates how Africa’s next generation of digital public infrastructure can be developed locally using African languages.
GovGuideNigeria is intended to address longstanding challenges in Nigeria’s public information system, where citizens often struggle to access reliable guidance because of fragmented government websites, poor communication channels and the expense of travelling to physical offices.
Through AI-driven automation, users can obtain information on immigration procedures, documentation requirements, public programmes and agency-specific services through chat-based interactions.
The launch also reflects Nigeria’s broader ambition to integrate AI into digital governance, while strengthening partnerships between government agencies, global technology companies and local AI startups to modernise public service delivery.
News
Elon Musk to Become First World’s Trillionaire with SpaceX Historic IPO

Elon Musk is poised to become the world’s first trillionaire after SpaceX, his company, confirmed plans to go public.

Elon Musk
Because Musk owns the majority of the shares, it could push his net worth over the trillion dollar mark.
The entrepreneur is known for his leadership of Tesla, SpaceX, X, and xAI.
Musk has been the wealthiest person in the world since 2025; as of May 2026, Forbes estimates his net worth to be $788 billion.
SpaceX has filed for a blockbuster public listing in the United States, paving the way for what could become the largest stock market debut in Wall Street history.
The company, formally known as Space Exploration Technologies, announced plans to begin trading under the ticker symbol “SPCX” as early as next month.
The listing values SpaceX at about $1.25 trillion, with Musk’s majority ownership potentially worth more than $600 billion alone.
Combined with his existing holdings in companies including Tesla, the IPO could push Musk’s personal wealth above the $1 trillion mark.
The long-awaited filing also offered investors a rare look into SpaceX’s finances.
The company reported $18.6 billion in revenue last year but recorded a net loss of $4.9 billion. In the first quarter of this year, SpaceX generated $4.7 billion in sales while posting a $4.3 billion net loss.
Financial disclosures showed the company holds $102 billion in assets, including rockets, launch infrastructure and satellite systems, while carrying debts totalling $60.5 billion.
Despite the losses, analysts suggested investors were unlikely to be deterred given SpaceX’s dominance in commercial space launches and satellite internet services.
Ruth Foxe-Blader, managing partner at Citrine Venture Partners, described the planned flotation as “extremely exciting.”
“SpaceX is just an absolutely sprawling, enormous project with so many different selling points, and so many points that really point to the future,” she said.
SpaceX operates the Starlink satellite internet network and also owns Musk’s artificial intelligence company, xAI.
The IPO filing revealed that xAI recently reached a major commercial agreement with rival AI company Anthropic, maker of the Claude chatbot.
Under the arrangement, Anthropic will reportedly pay $15 billion annually to access data centre infrastructure linked to xAI operations in the American South.
The filing also disclosed that SpaceX expects to incur more than half a billion dollars in legal costs from multiple ongoing lawsuits and regulatory disputes.
Among the cases listed were claims alleging that xAI’s chatbot Grok had been used to create sexualised deepfakes of women and girls, alongside patent infringement disputes, music copyright claims, data breach allegations and investigations into compliance with European Union content moderation rules.
Musk has previously said he plans to dissolve xAI as a standalone company and pursue his AI ambitions directly under SpaceX.
The filing came shortly after Musk lost a high-profile legal battle against OpenAI and its chief executive Sam Altman.
Musk had accused OpenAI of abandoning its non-profit mission after shifting towards a commercial model, but a jury dismissed the lawsuit, ruling that he had waited too long to bring the claims.
News
Moniepoint Boosts UK Payments Security

African financial services platform Moniepoint has partnered with open banking software-as-a-service provider tell.money to deploy a transaction security system in the UK market.

The companies said the partnership will allow Moniepoint to implement Confirmation of Payee, an account name-checking service designed to verify recipient details before payments are processed.
The integration will be rolled out through Monieworld, Moniepoint’s UK remittance subsidiary, as part of the company’s broader European expansion strategy.
Tell.money will provide the underlying verification technology, which the companies said is intended to reduce misdirected payments and help protect users against cross-border fraud.
Ravi Jakhodia, CEO of Monieworld, said: “Our goal with Monieworld is to build financial services for Africans in the diaspora.”
He added that tell.money was selected because it manages compliance and accreditation requirements, allowing the fintech company to focus on customer service.
Moniepoint is entering a competitive UK-to-Africa remittance market that includes established providers such as Wise, WorldRemit and Remitly, as well as African fintech firms including Flutterwave’s Send App.
According to data from the World Bank’s KNOMAD programme, remittance flows to low- and middle-income countries are estimated at about $620 billion annually, with digital -first platforms capturing increasing market share through open banking integrations and automated compliance systems.
The rollout reflects a broader trend of African fintech firms expanding into developed markets by adopting local regulatory and open banking standards.
Industry analysts expect diaspora-focused platforms to evolve beyond money transfers into services such as multi-currency banking, credit and investment products.
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