One of the world's richest people, Warren Buffett, has announced that he will step down as CEO of Berkshire Hathaway by the end of the year. He will be succeeded by the company's vice president, Greg Abel.
“I think it's time for Greg to take over at the end of the year. I'll report this to the board of directors and I'll accompany it with my recommendation [regarding Abel], I'll give them time to think about it, and at the next meeting in a few months, we'll make a decision in accordance with the opinion of the 11 directors. I think they will all unanimously support this proposal. “So, at the end of the year, Greg will become CEO of Berkshire Hathaway,“ he said at a meeting with shareholders. His speech was broadcast by CNBC.
The 94-year-old Buffett said he would continue to be informed about the company's affairs and expressed hope that he could “be useful to the company from time to time“.
In 1965, Buffett acquired a controlling stake in the nearly bankrupt textile company Berkshire Hathaway and turned it into a holding company that manages the assets of companies operating in various fields. Among them are leading American banks and equipment manufacturers. Buffett is one of the five richest people in the world, with Forbes estimating his fortune at $168 billion. The billionaire announced his choice of Abel as his successor back in 2021.
I served not only my country but also God. I am happy to account for my stewardship
Over the past few days and in particular in the past 2 hours, I have been inundated with calls from concerned family and friends over claims by an online newspaper that I was in the custody of the Economic and Financial Crimes Commission, EFCC.
This is clear mischief and a calculated attempt by the newspaper and its sponsors to achieve a desired outcome, which only them know.
At present, I am taking a well-deserved rest after the dissolution of the management and board of the NNPCL, of which I was the Group Chief Executive.
It should be stated that having served the NNPC and the NNPCL for 34 years, and 17 of those in management roles and especially the last 5 years and 9 months, I had little time for leave of even two weeks. So, I am thankful for the opportunity to serve under their Excellencies Presidents Muhammadu Buhari and Bola Ahmed Tinubu.
I must emphasize that I served with the fear of God knowing fully well as a Muslim that if I do not account before man, I will account before Allah, and that I am better off accounting to the institutions of man. Therefore, having served in public capacity, I am willing and happy to account for my stewardship in this world.
However, it is important to state that the resort to disinformation does not serve anyones purpose, the NNPCL or the country in General, as it has the potential to send the wrong signals to investors and the international community.
It is in this regard that I urge the media to be circumspect and avoid being stampeded into misleading the public on unverified stories or matters that are subject of further validation by relevant organizations.
I sincerely thank my family and friends who have reached out to me or tried to do so and assure them that I am available to respond to all lawful queries.
The President of the National Association of Nigerian Students (NANS), Comrade Atiku Abubakar Isah, has been allegedly attacked by thugs linked to Seyi Tinubu, son of President Bola Tinubu, who violently disrupted the NANS inauguration ceremony held on Tuesday in Abuja.
The attack also reportedly targeted political figures at the occasion including former Minister of Education and two-term Governor of Kano State, Senator Ibrahim Shekarau, and former Governor of Kogi State, Captain Idris Wada.
Speaking to SaharaReporters on Wednesday, Atiku claimed that the attackers, armed with cutlasses and guns, stormed the venue — The Wells Carlton Hotel in Asokoro — in a coordinated assault that left several attendees injured and many robbed of their phones and personal belongings.
“At the inauguration hall which I personally paid for at The Wells Carlton Hotel, Asokoro, Seyi Tinubu arrived with a large number of security men and ordered them to stop the event,” Atiku said.
“The management of the hotel informed me about the interference, but I decided to go ahead with the inauguration. Immediately after we were inaugurated and Senator Shekarau began his speech, Seyi’s thugs entered the hall wielding guns and cutlasses. They stopped the senator, began stabbing people, and chased others away, snatching phones and valuables in the process.”
Atiku further alleged that the attack was premeditated, linking it to an earlier attempt by presidential aides to silence him with a bribe.
“Before the day of the inauguration, Seyi had asked the Senior Special Assistant on Students and Youth Affairs to lure me into silence with money. I was told he was ready to offer me a hundred million naira. My refusal to accept the bribe led to the attack yesterday.”
“When Seyi’s thugs, led by one Ladoja, came in with machetes and guns, they beat people and injured many. Nigerians should beg Seyi to spare my life,” Atiku said, sounding a note of distress.
“They attacked Senator Shekarau, the former Minister of Education, and also Captain Idris Wada, the former governor of Kogi State. Fortunately, both of them were whisked away by their security details. I, however, was taken to an unknown location after being beaten and injured.”
All efforts by SaharaReporters to contact the former Governor of Kano State, Senator Ibrahim Shekarau, and the former Governor of Kogi State, Captain Idris Wada, were unsuccessful, as they did not answer calls or respond to messages sent to them.
SaharaReporters previously reported that the newly elected President of the National Association of Nigerian Students (NANS), Comrade Atiku Abubakar Isah, accused Seyi, son of President Bola Tinubu, of attempting to take his (Isah) life.
He also accused the president's son of disrupting the inauguration ceremony of the association scheduled to hold at The Wells Carlton Hotel in Asokoro, Abuja.
Isah, who emerged as NANS President at the association’s national convention held on February 27, 2025, made the allegations on Tuesday in a phone call to SaharaReporters, claiming that his life was under immediate threat.
"At The Wells Carlton, Seyi Tinubu and his thugs are around to scatter our inauguration," Isah alleged.
"Seyi has just ordered for me to be assassinated after the plea to buy me with money failed."
According to the students leader, Seyi Tinubu allegedly instructed the hotel management to shut down operations, effectively locking guests inside and halting all movements to and from the premises.
"He has instructed the management to shut down everything. They have just informed me," Isah said.
The NANS convention earlier this year was reportedly marred by factional disputes and allegations of external influence, raising tensions ahead of the planned inauguration.
Nigeria’s Central Bank has fined Paystack, one of the country’s most prominent fintech companies, ₦250 million ($190,000) for allegedly operating its newly launched consumer product, Zap by Paystack, as a wallet in violation of its regulatory licence, according to one person with direct knowledge of the matter.
The apex bank claims that Zap—a peer-to-peer money transfer app launched in March—functions as a deposit-taking product, which is reserved for financial institutions with a microfinance or banking licence. Paystack holds a switching and processing licence, which permits it to route financial transactions between banks and other institutions, but not to hold customer funds. That limitation is central to the CBN’s sanction, the person said.
“Paystack is working closely with the regulator as they further review Zap, and out of respect for the process, we won’t be making any public comments at this time,” a Paystack spokesperson told TechCabal.
In Nigeria’s tightly regulated financial services space, a wallet typically refers to a digital account that stores customer funds, allows payments, transfers, and often provides financial management tools. Operating a wallet without the right licence raises red flags with the CBN, which has grown increasingly vigilant about regulating the boundaries between licensed activities. TechCabal learned Zap does not store user funds directly, but instead operates in partnership with Titan Trust Bank, which is licensed to hold deposits.
The fine marks Paystack’s largest publicly known regulatory penalty since it received CBN approval in 2016. It also underscores the risks fintechs face as they expand beyond business-to-business payments into consumer-facing products.
Zap’s launch was seen as a bold move by the Stripe-owned firm to compete in the fast-growing consumer payments market. However, it was quickly entangled in controversy: Nigerian crypto startup Zap Africa accused Paystack of trademark infringement, triggering a legal dispute that is still unresolved.
The CBN fine comes during heightened regulatory scrutiny for Nigerian fintechs. In the past year, several fintechs have faced increased oversight around customer onboarding and KYC compliance as regulators respond to growing concerns about fraud and financial stability in the financial sector. Two of the country’s most prominent unicorns, Moniepoint and OPay, were fined ₦1 billion each in the second quarter of 2024 over compliance issues.
Nigerian lending software startup, Lendsqr, is building an artificial intelligence model that analyses borrowers’ voices and faces to determine if they qualify for a loan.
The model, which the company says is 76% accurate, will help Nigerians without financial documentation apply for small ticket-sized loans between ₦30,000 ($18) and ₦50,000 ($31) from lenders.
Before lenders issue loans, they have to tick off a list of requirements to determine a borrower’s creditworthiness, and most lenders rely on the five Cs: character, capacity, capital, collateral, and conditions.
Lendsqr’s model will help lenders judge borrowers’ capacity to repay the loan and their intention to repay. “Can we help vulnerable people prove their capacity and character, not through paperwork but through their words? That’s the thinking behind this AI project,” Adedeji Olowe, Lendsqr’s CEO, told TechCabal.
How the model works
When borrowers apply for a loan through Lendsqr, they can talk to the AI model instead of filling out forms. The model prompts them to answer questions about their jobs and how they intend to repay, and the borrower responds either by video or by voice.
Based on the video or audio data, Lendsqr’s model predicts whether the borrower will repay or default. Lendsqr is currently piloting this model using its capital. It will also make its research findings from the model public before the end of the third quarter of 2025 and will allow its competitors to use the data to power their loan engines.
While the company’s immediate goal is to expand credit access for Nigeria’s mass market, it also plans to test the model in Canada to support immigrants and new students who often struggle to access credit due to a lack of local credit history.
“Africa is the primary target because this is where the problem is largest,” Olowe said. “Across Africa: Kenya, Ghana, Ivory Coast, Malawi, and South Africa, you see the same pattern. The underbanked and vulnerable struggle to get loans because they lack documentation.”
Game changer
If Lendsqr’s model can accurately predict creditworthy Nigerians, the impact could be transformative for the economy. Today, only 6% of Nigerian adults have accessed formal credit, and fewer than 12% of the country’s 41 million small businesses have access to it, despite Nigerian banks consistently reporting record deposits.
Fintechs have stepped in to fill this credit gap by taking a less risk-averse approach to lending. However, they often rely on costly internal verification methods, which drive up the overall cost of borrowing for Nigerians. For Lendsqr’s current customers—including Kredi, Snapcash, and Blockacash—the new model has the potential to lower lending costs and expand their customer base, making credit more accessible to Nigerians who need it most.
“Imagine you’re a lender giving loans to 10,000 people: If 9,000 repay because of better screening, it dramatically improves your profitability and sustainability,” Olowe said.
Partly funded by the Nigerian government through the Ministry of Communications, Innovation & Digital Economy, and Google, the model will be released when it’s 90% accurate.
“If it works, it won’t replace traditional lending for mortgages or car loans, but it could help people access foundational credit. Small, life-changing amounts,” Olowe said.
Finnish Parliament voted on Tuesday to approve a law that restricts the use of mobile devices by pupils at primary and secondary schools.
The new rules are expected to come into force after the summer break, in August.
The law does not entirely ban the use of mobile phones at school, and their use will be permitted in certain situations. But generally, the use of phones during class time will be prohibited.
Pupils will need to get special permission from teachers to use their phones, to assist them in studies, or to take care of personal health-related matters, for example.
The new law also gives school staff members the authority to confiscate mobile devices from pupils if they have caused teaching or learning disruptions.
Late last year, Education Minister Anders Adlercreutz (SPP) emphasised that kids' digital skills will still be supported despite the phone restrictions.
EFCC Quizzes Suspected “Yahoo” School Operators and Students
Operatives of the Benin Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, commenced investigation of 30 suspected internet fraudsters arrested in a Yahoo training School (a.k.a Hustle Kingdom, HK) in Benin City.
The suspects, arrested by officers of 4 Brigade, Nigerian Army at their hideout in Benin City, were on Monday April 28, 2025 handed over to the EFCC for further investigation.
At the time of arrest, the Yahoo School has full trappings of a conventional computer school with desktop computers, work stations and other computer accessories. There was also a compartment stocked with various fetish items.
Items recovered from the suspects include a Toyota Corolla car, phones, laptops and Mpeg Audio-layer 3, MP3.
The suspects will be charged to court as soon as investigations are completed.
The Internet Exchange Point of Nigeria (IXPN) has achieved a significant milestone by hitting a peak traffic of 1 Terabit per second (Tbps) for the first time. As the largest internet exchange point in Nigeria, IXPN plays a critical role in connecting content providers such as Meta, ByteDance, and Google with Internet Service Providers (ISPs) like MTN and Airtel, enabling seamless internet connectivity to end users across the country.
Understanding Internet Exchanges
An internet exchange is a vital infrastructure where content providers and ISPs meet to exchange traffic, ensuring that data flows efficiently to users’ devices. IXPN has long been the dominant player in Nigeria’s internet exchange market, facilitating the transfer of vast amounts of data to support the nation’s growing digital economy.
A Milestone Long Overdue
While reaching 1Tbps is a cause for celebration, some believe IXPN should have surpassed this threshold earlier. A comparative analysis reveals significant disparities with other global internet exchanges. For instance, NAP Africa in Johannesburg records daily peak traffic of approximately 4 Tbps, while IX.br in São Paulo, Brazil, achieves an impressive 25 Tbps. This means that the local traffic exchanged in São Paulo is currently 25 times that of Lagos, Nigeria’s primary hub for internet exchange.
Emerging Competition in Nigeria
One factor that may have delayed IXPN’s achievement of this milestone is the arrival of new competitors in Nigeria’s internet exchange market. Until recently, IXPN was the sole player in this space. However, over the past few years, AM-SIX from Amsterdam has established a local node in Nigeria, operating out of the Equinix (MDX-i) data center in Lekki. AM-SIX’s peak traffic is currently around 59 Gigabits per second (Gbps), which represents about 6% of IXPN’s peak. Additionally, AF-CIX, based in Rack Centre, has also entered the market, further diversifying the competitive landscape.
The emergence of these new players may have slowed IXPN’s growth in peak traffic, but it is a positive development for Nigeria. In major global cities like Frankfurt, Germany, and Amsterdam, Netherlands, more than 20 internet exchange points coexist and compete, driving innovation and improving connectivity. The presence of multiple exchanges in Nigeria is expected to enhance the overall internet ecosystem, ultimately benefiting end-users.
Opportunities for Growth
While IXPN’s achievement is commendable, there is room for further improvement, particularly in expanding its reach beyond Lagos. Most Internet Service Providers and Content Distribution Networks (CDNs) currently prefer to exchange traffic in Lagos, with some activity in Abuja. However, IXPN’s existing nodes in Kano and Port Harcourt remain underutilised. Given Nigeria’s large geographic size and widely distributed population, strengthening these regional nodes could bring traffic exchange closer to users, resulting in faster and more reliable internet connections.
Looking Ahead
The milestone of exceeding 1Tbps marks a pivotal moment for IXPN and Nigeria’s internet infrastructure. Continued growth and investment in IXPN’s nodes across the country will be crucial to meeting the demands of Nigeria’s expanding digital population. By fostering competition and enhancing regional connectivity, IXPN and its competitors can work together to create a faster, more accessible internet for all Nigerians.
Congratulations to IXPN on this remarkable achievement. Here’s to a future of even greater milestones in Nigeria’s digital journey!
BLACKOUT CHAOS Panic-buying hits Spain & Portugal leaving shelves bare as shoppers in ‘dark age’ after power cut ‘from freak weather’
Shoppers are stockpiling groceries amid fears of imminent shortages
PANIC-stricken shoppers in Spain and Portugal are clearing shelves and leaving supermarkets empty after a catastrophic power outage.
Airports and hospitals shut down and trains screeched to a halt across the peninsula - with officials blaming a "rare atmospheric phenomenon".
Alarming pictures posted on social media show bare supermarket shelves after panic-shopping swept across the affected regions.
Footage shows people forming huge queues outside grocery stores and ATMs to stockpile essential items amid fears the mayhem could last for days.
And there are fears that thugs will exploit the chaos and darkness to loot shops after nightfall.
One shopper Alfonso Romay wrote on X: “It’s incredible, the collective paranoia. The power goes out for five hours, and look at the supermarket.
“The water jugs in the image lasted less than one minute.”
Roads in Spain, Portugal and parts of France were left snarled up with traffic as lights and signals went blank - with emergency officers drafted in to tackle the bedlam.
Some hospitals cancelled all surgeries for Monday amid fears for patient safety in the region's most severe blackout for years.
Spain's train service came to a complete stop, leaving huge crowds stranded at stations, and Madrid's underground network was evacuated.
But Spanish PM Pedro Sanchez confirmed that power has been restored in some areas of the north and south of Spain.
Air traffic was slashed to "half capacity" as flights were cancelled from a number of airports - with Lisbon cancelling all arrivals for hours.
What you have seen here today is a movement, not a defection. We have consulted stakeholders at all levels. Mr President has shown us love. We cannot face him in 2027 to work against him... When you consult widely, you can see that the love is organic.
What you have seen here today is a movement, not a defection. We have consulted stakeholders at all levels. Mr President has shown us love. We cannot face him in 2027 to work against him... When you consult widely, you can see that the love is organic.
A massive power outage has knocked out electricity across parts of Spain and Portugal, shutting off traffic lights and causing chaos at airports, train stations and on the roads.
Portugal’s grid operator Redes Energéticas Nacionais (REN) said electrical supply was lost across the entire Iberian peninsula, and in parts of France, late on Monday morning.
Spanish power grid operator Red Electrica said it was working with energy companies to restore power. “The causes are being analyzed and all resources are being dedicated to solving it,” it said.
The outage took out screens, lighting and power sockets throughout the region; Portugal’s police force told people to avoid unnecessary journeys because traffic lights were at risk of failing. “Reduce your speed and pay extra attention,” they said. “Prioritise safe driving: your calmness saves lives.”
In Madrid, traffic piled up on the roads after the lights went out. “I was driving and suddenly there was no traffic lights … It was a bit of a jungle,” Luis Ibáñez Jiménez told CNN. “I saw a massive bus coming, and I had to accelerate a lot to go past it.”
And a holidaymaker inside Lisbon’s Humberto Delgado airport said hundreds of people were stood in the dark in queues, with no air conditioning or running water. Shops were only accepting cash, she told CNN.
Spanish train operator Renfe said there was a power outage at a national level, causing trains to stop and departures to be canceled. And E-Redes, which provides electiricty to mainland Portugal, said in a statement it was working to re-establish connection. “This is a wider European problem,” the company said in a statement, according to Reuters.
Review: In ‘Gimme Dat’, Ayra Starr, Wizkid evoke undeniable nostalgia by Obed David
Ayra Starr and Wizkid have yet again created magic in the new release of “Gimme Dat.”
The highly anticipated collaboration was released in the early hours of Friday.
This work of art is Produced by VybeO and Mikabeatz, ‘Gimme Dat’ cleverly samples Wyclef Jean and Mary J. Blige’s 2000 hit ‘911’.
This isn’t the first time Starr and Wizkid have worked together. The pair teamed up for ‘2 Sugar,’ a song on Wizkid’s 2022 album ‘More Love, Less Ego’.
Backed with a groove-driven instrumental that subtly nods to Wyclef Jean and Mary J. Blige’s iconic ‘911’, ‘Gimme Dat’ sees Ayra deliver her trademark self-assured vocals, dripping with Naija attitude and allure.
Wizkid’s smooth delivery glides through the track with signature ease, his presence escalating the record’s already magnetic energy.
The record starts with a lead acoustic guitar that strings through to the 7th second, with the drums joining in subtly and in fullness at the 10th second. Ayra’s voice opens the verses with her Afrobeats tempo sultry voice as she sings.
Lyrics
The intro verse highlights the desire to be with someone who has got their actions right – finances and emotions together. Ayra sings, saying she wants peace of mind that comes with sumptuous unmerited giftings
“Gimme dat love, gimme peace of mind
No ṣere cure me with your waistline
I want that peace of mind wey dey come with awoof (wey dey come with awoof)
Baby na one-man race we dey run
So make you no come waste time
Uh nur, no pressure”
The chorus has Ayra and Wizkid take turns dividing the song into two halves. The chorus talks about faithfulness and loyalty.
“Make you gimme dat love
If you gimme, me, I will let go
Gimme, make I cure my Sanko
Feelings got me hitting on a freaky dance floor
Make you gimmе dat love
If you gimme, me I no go lеt go
Make you gimme, make I cure my Sanko
Feelings gat me hitting on a freaky dance floor
Deyalo, Deyalo
If I give you my love o
Make you no disappoint o
Me, I get you for mind o.”
The post-chorus has a tone of discussion between two soon-to-be lovers. Confessing the effect one has on the other. Asking questions that need promissory answers. Questions that demand answers of affirmation.
Romance › Re: 18-yr-old Boy Impregnates 10 Girls Within Five Months In Anambra, Govt Cries Out by nlfpmod(mod): 7:57pm On May 07, 2025
