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Meta Threatens to Shut Down Facebook and Instagram in Nigeria Amid $290M Fines

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What’s Happening? Meta, the parent company of Facebook and Instagram, has warned it could shut down both platforms in Nigeria as it faces mounting regulatory pressure and close to$290 million in fines from three government agencies. The company says Nigeria’s requirements for data protection and compliance are excessive and could make continued operations untenable. Breakdown […]

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From Anambra to Africa: Jetpad Secures $75K Stellar Grant to Make Crypto as Simple as Email

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What’s Happening? Jetpad, a crypto startup founded in Anambra State,Southeast Nigeria, has received a $75,000 grant from the Stellar Community Fund to expand its latest innovation – the Jetpad Smart Wallet. This funding supports Jetpad’s broader mission to simplify crypto access across Africa by delivering user-friendly blockchain products tailored for everyday users. Unlike traditional wallets

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CBN Approves Open Banking Rollout in Nigeria, Starting August 2025

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What’s Happening? Nigeria’s Central Bank (CBN) has officially approved the nationwide rollout of open banking, with banks and regulated financial institutions required to begin secure data sharing by August 2025. This move positions Nigeria as the first country in Africa to operationalize open banking, four years after the initial regulatory framework was introduced With this

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Bolt Launches ₦3.2M Electric Tricycles in Lagos with 15% Driver Commission

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What’s Happening? Bolt, the leading ride-hailing platform in Africa, has launched its first fleet of electric tricycles in Lagos, signaling a major step in its push for sustainable urban mobility across West Africa. Starting in May, 25 electric tricycles-developed in partnership with Lagos-based SGX Mobility-will be available for booking directly within the Bolt app. This

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Maroc Telecom’s Profit Falls 5.9% Amid Regulatory Fines

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What’s Happening? Maroc Telecom reported a 5.9% decline in its first-quarter net profit for 2025, attributing the downturn to regulatory penalties and increased operational costs in its domestic market. The company’s net profit fell to MAD 1.43 billion ($154 million), while consolidated revenue decreased by 2% to MAD 8.8 billion.​ The revenue drop was primarily

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Bankly Acquired by C-One Ventures to Expand Fintech Portfolio in Nigeria

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What’s Happening? Nigerian fintech company Bankly has been acquired by investment firm C-One Ventures, just seven months after the appointment of its new Managing Director, Stephen Amodu. While the financial terms of the deal remain undisclosed, a statement reviewed by Techpoint Africa indicates that Bankly will be integrated with other fintech entities within C-One Ventures’

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Kenya digital asset exchange platform interface.

Kenya Partner with Canadian Firms to Launch Blockchain-Powered Digital Asset Exchange

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What’s Happening? The Nairobi Securities Exchange (NSE) has partnered with Canadian based DeFi Technologies, SovFi, and Valour Inc. to establish the Kenya Digital Exchange (KDX), a regulated blockchain platform for tokenizing real-world assets like equities, debt, and commodities. This follows a MoU between Valour, the NSE, and SovFi to create and trade digital asset exchange-traded

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Instagram Challenges TikTok with New ‘Edits’ App for Video Creators

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What’s Happening? Instagram has rolled out a standalone video editing app called ‘Edits’, aimed at rivaling TikTok’s CapCut and strengthening its position in the creator economy. The new app allows users to organize projects, shoot and edit videos, and access performance insights, all in one place Instagram announced the launch of the Edits app on

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Workers’ Day Protest: Lagos Drivers to Suspend Uber, Bolt, inDrive Services on May 1

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App-based drivers under the Amalgamated Union of App-based Transporters of Nigeria (AUATON)Lagos Chapter have announced plans for a massive 24-hour service shutdown affecting major ride-hailing platforms on International Workers’ Day over alleged anti-labour practices by app-based companies including Uber, Bolt and inDrive. Whats Happening? As Reported by Technext, Steven Iwindoye, Public Relations Officer of AUATON’s

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CBEX crackdown: Promoting ponzi schemes could land influencers in jail -SEC warns

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The Securities Exchange Commission (SEC) has issued a stern warning to celebrities, influencers, and bloggers who promote unregistered investment schemes, stating they could face up to 10 years imprisonment under the newly enacted Investment and Securities Act (ISA) 2025. Crackdown Following CBEX Scandal This warning comes in the wake of the CBEX Ponzi scheme collapse

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