E-Business
Obelix Reiterates Commitment to Empower SMEs, As it Marks 100 Days of Operations
![Monieworx](https://www.nigeriacommunicationsweek.com.ng/wp-content/uploads/2023/04/Monieworx-.jpeg)
The SEC-regulated crowdfunding intermediary, Obelix, marks a hundred days since it commenced operations and has vowed to continue to empower Small and Meduim Enterprise Businesses.
![Monieworx](https://i0.wp.com/www.nigeriacommunicationsweek.com.ng/wp-content/uploads/2023/04/Monieworx-.jpeg?resize=497%2C300&ssl=1)
Monieworx
According to a statement on Friday, the company said it operated a funding portal, monieworx, enabling 3 SMEs to raise 100 million from its retail investor community.
The company said during this the portal has consistently paid interest to investors every Friday in keeping with its proposition of weekly coupon payments. In addition, It is noteworthy that the 30-day and 45-day notes hosted on the portal have been fully redeemed.
“While returns on traditional investments are typically received monthly, quarterly, and sometimes yearly, monitor has introduced weekly interest payments. The increased frequency of payments gives investors greater control over their cash flow,” the company said.
“Obelix is proud to announce zero default by the 3 SMEs that raised funds on the portal. This attests to the advantage of investing through regulated crowdfunding portals. Businesses fundraising on Monieworx must go through a thorough vetting process that ensures only the most promising ventures with established and viable business models can secure funding from the growing community of investors on the platform.”
Obelix said it recently introduced an improved version of the Monieworx web and mobile apps; allowing investors to conveniently view their investment portfolio through a quick-access dashboard that consolidates their account balance, token balance, and income in a single view.
“With this latest upgrade, investors can effortlessly participate in crowdfunding campaigns and manage their investment portfolio more efficiently from the device of their choice.
“This notable achievement highlights Monieworx’s unwavering commitment to providing user-friendly solutions that adapt to the changing requirements of its users.”
Obelix is an SME financier in Nigeria that recognizes the growing potential of crowdfunding as a transparent and simple financial solution, delivering substantial benefits to the local economy. Crowdfunding enables investors of all economic backgrounds to support worthwhile projects; driving innovation and growth in Nigeria.
E-Business
Schmidt, Ex Google Chief Says AI Risky in Terrorist Hands
![](https://www.nigeriacommunicationsweek.com.ng/wp-content/uploads/2025/02/Eric-Schmidt.jpg)
Eric Schmidt, former Google CEO has expressed concerns about the extreme risks posed by artificial intelligence (AI) falling into the hands of terrorists or rogue states.
![Schmidt, Ex Google Chief Says AI Risky in Terrorist Hands](https://i0.wp.com/www.nigeriacommunicationsweek.com.ng/wp-content/uploads/2025/02/Eric-Schmidt.jpg?resize=573%2C254&ssl=1)
Eric Schmidt, former Google CEO
He warned that nations such as North Korea, Iran, and Russia could adopt AI technologies to develop weapons capable of causing significant harm, including biological weapons.
Schmidt urged governments to oversee private tech companies, emphasising, “The real fears I have are not the ones most people discuss about AI, I talk about extreme risk.”
“I’m always worried about an ‘Osama Bin Laden’ scenario, where truly evil individuals take control of some aspect of modern life to harm innocent people,” he added.
With private companies driving AI advancements, he stressed the need for careful government monitoring and regulation. “It’s really important that governments understand what we’re doing and keep their eye on us,” he said.
His remarks followed a two-day AI summit in Paris, where the UK and the U.S. declined to sign a communiqué outlining the future direction of AI. The declaration on “inclusive and sustainable artificial intelligence for people and the planet” was endorsed by 57 countries, including India, China, the Vatican, the EU, and the African Union Commission.
The UK justified its decision, stating that the agreement lacked “practical clarity” on global AI governance and national security concerns.
Schmidt supports U.S. export controls restricting the sale of advanced AI microchips to certain countries, aiming to slow adversaries’ progress in AI research.
He also highlights the importance of international collaboration on AI safety, suggesting that cooperation with nations like China is essential to addressing global AI challenges.
E-Business
OpenAI CEO Rejects $97.4Bn Takeover Bid from Elon Musk
![](https://www.nigeriacommunicationsweek.com.ng/wp-content/uploads/2025/02/Open-AI.jpg)
Sam Altman, chief executive of ChatGPT-owner OpenAI, has firmly declared the company “not for sale” following a $97.4bn (£78.4bn) takeover bid from a consortium led by Elon Musk.
![OpenAI CEO Rejects $97.4Bn Takeover Bid from Elon Musk](https://i0.wp.com/www.nigeriacommunicationsweek.com.ng/wp-content/uploads/2022/04/Elon-Musk.jpg?resize=563%2C229&ssl=1)
Elon Musk
Speaking at the AI Action Summit in Paris, Altman emphasised OpenAI’s mission to develop AGI (artificial general intelligence) for the benefit of humanity.
Marc Toberoff, attorney for Elon Musk, confirmed the bid submission on Monday.
In response, Altman humorously offered to buy Twitter for $9.74 billion on Musk’s platform.
Unlike many tech giants, OpenAI is not publicly traded but operates through a complex partnership between non-profit and for-profit entities.
Musk aims to return OpenAI to its non-profit roots, despite owning a rival firm, xAI.
Christie Pitts, a tech investor, expressed scepticism about Musk’s intentions, noting his competitive interests.
Altman echoed this sentiment, suggesting Musk’s move disregards OpenAI’s mission.
Altman, who holds no stock in OpenAI, advocates transforming the organisation into a fully for-profit company to raise more funds for AI research.
Although the board has the final say, the $97.4bn offer falls short of OpenAI’s previous $157bn valuation and rumoured $300bn in future funding talks.
Toberoff stated the consortium might increase their bid. Meanwhile, OpenAI is collaborating with Oracle, a Japanese investment firm, and an Emirati sovereign wealth fund on “The Stargate Project,” a $500 billion AI infrastructure initiative announced by President Donald Trump.
E-Business
Adobe Launches AI Video Tool to Compete with OpenAI
![](https://www.nigeriacommunicationsweek.com.ng/wp-content/uploads/2025/02/Adobe-logo.jpg)
Adobe yesterday released the first public version of an artificial intelligence tool that can generate video clips and revealed how much it will charge, but said it will not set pricing for major users such as studios until later this year.
The Firefly Video Model, as Adobe is calling the service, will compete against Sora, a model developed by ChatGPT creator OpenAI, and startup Runway, both of which currently offer video-generation services. Facebook owner Meta Platforms has also developed a video-generation AI model but has not given a timeline for when it will be released.
Adobe’s model differs from its rivals because it is geared toward generating clips that will fit into how film and television studios use Premiere Pro, its flagship video editing software.
To that end, many of the features that Adobe is emphasizing revolve around feeding existing shots into the video model and asking it to generate clips that fix or expand on shots that were taken on a real production set but that did not come out quite right.
Adobe said the service will generate five-second clips at 1080p resolution. While that is shorter than the clips of up to 20 seconds generated by OpenAI’s service, Adobe executives said the majority of individual clips in most productions are only three seconds.
Adobe said a user can generate 20 clips per month for $9.99 and 70 clips for $29.99. That compares with 50 videos for $20 per month with OpenAI’s plan at lower resolution and a $200 OpenAI plan that can handle longer, higher resolution videos.
Adobe is also working on a “Premium” pricing plan for studios and other high-volume video users and will release those pricing details later this year. Alexandru Costin, Adobe’s vice president of generative AI, said the company is working to generate 4K video and will remain focused on quality rather than longer clips.
“We actually think that great motion, great structure, great definition scheme, making the actual clip look like it was film, is more important than making a longer clip that’s unusable,” Costin told Reuters.
- News2 days ago
TikTok Returns on Apple, Google US App Stores as Trump Delays Ban
- General News2 days ago
Researchers Develop Innovative Treatment for Malaria
- E-Financial2 days ago
African Union Launches Credit Rating Agency to Promote Regional Economic Integration
- Broadcasting2 days ago
FG Kickstarts Construction of Emerging Technologies Institute in Kano
- Telecom2 days ago
Visa Launches Report on Digital Payment Landscape in Nigeria, Shows Positive Outlook
- General News2 days ago
Nigeria to Host ICEGOV 2025, A Milestone in Digital Governance and Global Leadership
- General News2 days ago
MTN Nigeria Foundation Supports Education with Donation of School Supplies to 1000+ Students
- Broadcasting2 days ago
Family Marks one-year Memorial of Late APC Chieftain, Ojougboh with Charity Outreach