General News
EFInA, GIZ Conclude Hackathon Challenge

EFInA and GIZ have announced the winners of its recently concluded ‘MSME Finance… Breaking Barriers’ Ideathon-Hackathon.
The hackathon challenged innovative developers to develop groundbreaking solutions to help facilitate microbusinesses’ access to finance from formal sources in Nigeria.
As committed financial service providers (FSPs) introduce these solutions into the market, the aim is to facilitate MSMEs’ access to formal credit to increase their overall contribution to the economy.
While commending FSI for successfully implementing the Ideathon-Hackathon, Mr. Isaiah Owolabi, CEO, EFInA, stated that driving access to financial inclusion is one of the biggest ways to end poverty in Nigeria, “and part of this is ensuring that MSMEs can have access to finance and help accelerate the impact of a lot of interventions.”
He further explained that technology is an enabler hence the reason EFInA and GIZ organised the hackathon, to ensure that innovation and technology are leveraged to accelerate the impact of financial inclusion intervention in Nigeria.
The Cluster Coordinator, Sustainable Economic Development Cluster (SEDEC) and Head of Programme, Pro-Poor Growth, and Promotion of Employment in Nigeria – SEDIN, GIZ, Markus Wauschkuhn, congratulated the winners of the Ideathon-Hackathon.
He stated that the winning solutions when implemented would help break some of the limiting barriers MSMEs face thereby enabling the sector to deliver more gains to the nation.
General News
Lagos Commences Integration of NIN with State Single Social Register

Lagos State Government is committed to ensuring that the Lagos State Single Social Register is updated and integrated with individuals’ National Identification Numbers (NIN) to enhance the effectiveness of social protection programmes in the state and in line with President Bola Ahmed Tinubu’s directive.
This was stated by Mrs. Olayinka Ojo, permanent secretary, Ministry of Economic Planning and Budget (MEPB), Lagos state.
Ojo disclosed this at a forum tagged: “Unified for Impact,” organised by the Ministry, through the Social Protection Coordinating Department, to sensitize stakeholders from various sectors, including selected Heads of Departments and Community Development Council Chairmen from the 57 Local Governments and Local Council Development Areas of the state, to provide them with a deeper understanding of the numerous benefits associated with enhancing the Single Social Register through seamless integration.
According to Ojo, “The Lagos State Single Social Register (LASSR) has become the cornerstone for our social intervention programmes, helping to ensure that support reaches those who need it the most.
However, we recognize that the full potential of LASSR can only be unlocked when it is linked with the National Identification Number (NIN).”
She added, “We need your support today; let us reflect on our collective progress, share ideas, identify gaps, and build synergy that will strengthen our coordination and level of impact in Lagos State, ensuring that nobody is left behind.
The Permanent Secretary emphasised the importance of leveraging data-driven innovation to build a more equitable and responsive system for all residents of Lagos.
Also speaking at the forum, Dr. Funmilola Olotu, national coordinator, National Social Safety-Nets Coordinating Office, noted that as part of its efforts to cater to the needs of the citizenry, the Presidency recognizes that linking the National Social Register with NIN would be of great impact and has cascaded it to every state in the Federation.
Olotu reiterated the President’s commitment to delivering dividends of democracy, saying, “President Bola Ahmed Tinubu is passionate about integrating NIN with the National Social Register to strengthen credibility and accountability, as well as ensure that all vulnerable individuals in the nation are well-catered for.”
Mrs. Kikelomo Bolarinwa, permanent secretary, Ministry of Local Government, Chieftaincy Affairs and Rural Development, and Mrs. ‘Jibike Onigbanjo, permanent secretary, Ministry of Women Affairs and Poverty Alleviation, commended the department’s work so far and emphasised the importance of the Social Register in the planning and execution of government intervention. T
hey encouraged stakeholders to cascade the importance to their various communities as a matter of urgency.
In the same vein, Mrs. Oluwakemi Garbadeen-Adedeji, director of Social Protection Coordinating Department, in her presentation, explained how the data collated from the Lagos State Single Social Register serves as the bedrock of the social intervention architecture of the state.
The Director expressed gratitude to stakeholders for their role in reaching the grassroots level and encouraged them to continuously ensure everyone in need is covered.
She said, “We appreciate the stakeholders’ efforts in reaching the grassroots level and urge them to work more closely with us to ensure that no one is left behind, according to the developmental pillars of the Babajide Sanwo-Olu Administration, THEMES Plus.”
She added, “This Social Register helps the right intervention get to the right people, ensuring social justice, equity, and protection for citizens of Lagos State”.
Garbadeen-Adedeji appealed to the stakeholders present to ensure that the provisions made for vulnerable people by the government make an impact so that everyone can enjoy the dividends of democracy.
The Director appealed that beyond the stakeholder’s forum, each member of the community should spread the word about the benefits inherent in updating the Lagos State Single social register.
“This is a call to action for the entire community to ensure that no one is left behind, as Lagos residents we can contribute to the success of the register update initiative by sensitizing our community members on the benefit, let us ensure this is a case of all for one and one for all,” she emphasised.
Following the event, the department’s team visited the Kosofe Local Government, where they conducted sensitization, addressed field officers’ challenges, and engaged with residents to encourage their participation in the update process. They also visited the palace of the Traditional Ruler of the Area, Chief Surajudeen Lasisi, where they canvassed for support.
The Traditional Ruler promised to use his influence to ensure that the people in his constituency are sensitized and embrace the update of the register.
One of the stakeholders present at the forum, Mr. Balogun Tejumade, chairman of Olubori Community Development Association (CDA), commended the Lagos State Government for the initiative, saying, “We commend the Lagos State Government for this initiative, which will enhance social protection programmes and improve the lives of our residents.
The Lagos State Single Social Register (LASSR) is a database of Heads and Members of Poor and Vulnerable Households (PVHHS).
The Lagos State Single Social Register update and Integration with the National Identification Number (NIN) kicked off on Wednesday, 9th April 2025, in the 57 Local Governments and Local Council Development Areas.
General News
Nigeria Records $6.83Bn Balance of Payments Surplus in 2024 Amid Economic Reforms

Central Bank of Nigeria (CBN) has announced a remarkable $6.83 billion balance of payments surplus for 2024, marking a decisive turnaround from deficits of $3.34 billion in 2023 and $3.32 billion in 2022.
This achievement reflects the impact of sweeping macroeconomic reforms, stronger trade dynamics, and renewed investor confidence in the nation’s economic direction.
Speaking at the 36th Enugu International Trade Fair, Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, highlighted the CBN’s commitment to addressing economic challenges and fostering productivity, particularly for SMEs.
She emphasized the importance of robust financial systems, foreign exchange stability, and collaboration between monetary and fiscal authorities in achieving industrial development and global recognition.
The President of the Enugu Chamber of Commerce, Sir Odeiga Jideonwo, commended the CBN’s efforts but expressed concerns over the recent hike in interest rates, cautioning that it could hinder access to credit for businesses.
This surplus signals a positive trajectory for Nigeria’s economy, benefiting investors, businesses, and citizens alike.
General News
OpenAI Sues Elon Musk Claiming Bad-Faith Tactics

OpenAI is suing Elon Musk over claims he has tried nonstop to slow down its business for his own benefit.

Elon Musk
The company accuses the Tesla boss of using “bad-faith tactics” against OpenAI to help him control cutting-edge AI technology.
Musk sued OpenAI chief executive Sam Altman last year in a bid to stop him from changing its corporate structure. Mr Musk co-founded OpenAI with Mr Altman but left several years ago.
Meanwhile reporters has approached his lawyer for a response to OpenAI’s lawsuit, which was filed on Wednesday.
The countersuit opens up a new front in the high-stakes battle between two Silicon Valley heavyweights.
“Elon’s nonstop actions against us are just bad-faith tactics to slow down OpenAI and seize control of the leading AI innovations for his personal benefit,” “Today, we countersued to stop him.”
Last week, a federal judge in Oakland, California, set a March 2026 trial date in Mr Musk’s suit in a bid to fast-track the legal fight.
US District Judge Yvonne Gonzalez Rogers previously declined to grant Mr Musk an injunction that would temporarily halt OpenAI’s conversion from a non-profit to a for-profit company.
She also said that she expected Mr Musk to give evidence in the case.
Musk alleges that OpenAI strayed from its founding mission as a non-profit to develop AI for the benefit of humanity and is therefore in breach of contract.
He left the company in 2018.
“This is about control. This is about revenue. It’s basically about one person saying, ‘I want control of that startup’,” said Ari Lightman, professor of digital media and marketing at Carnegie Mellon University.
Lightman said it has been a distraction from making AI safe and equitable.
“That takes a backseat with all this rigmarole over control and monetization,” Lightman said.
OpenAI claims Musk has “been spreading false information about us,” in a X post on Wednesday, adding “Elon’s never been about the mission. He’s always been about his own agenda.”
Musk’s xAI is a competitor to OpenAI, but has so far lagged behind. Last month, xAI aquiired Musk’s social media platform X formerly Twitter.
Musk claims the combined company, XAI Holdings, is valued at more than $100 billion.
In February, Musk made an unsolicited bid for OpenAI, offering to buy it for $97.4 billion, which Mr Altman rejected by posting: “no thank you but we will buy twitter for $9.74 billion if you want.”
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