May 2026 – Page 56 – Rise Africa

AI Adoption Risks: ipNX Nigeria Warns Industries

22.05.2026

Technology company, ipNX Nigeria, has warned industries against excessive dependence on artificial intelligence without first putting in place reliable systems, quality data, and sustainable digital infrastructure. The caution was given during the 2026 edition of the IoT West Africa Conference and Exhibition held in Lagos, where industry stakeholders gathered to discuss the future of digital...

Wema Bank Conserves Capital for Future Acquisitions

22.05.2026

The Managing Director and Chief Executive Officer of Wema Bank Plc, Moruf Oseni, has hinted at a major structural transformation aimed at breaking into Nigeria’s tier-one banking league, indicating that the bank is intentionally retaining capital to fund future strategic acquisitions. Oseni made this disclosure while addressing shareholders at the bank’s Annual General Meeting held...

Lagos Continental Hotel unveils new training academy

22.05.2026

The Lagos Continental Hotel has unveiled a new training academy to equip young Nigerians and hospitality workers with skills, mentorship, and career development opportunities. The hotel unveiled the facility during a media tour in Lagos on Tuesday, describing the initiative as part of its long-term commitment to human capital development and youth empowerment in Nigeria’s...

CBN Holds Interest Rates Amid Manufacturing Risk Concerns

22.05.2026

The Monetary Policy Committee of the Central Bank of Nigeria on Wednesday retained the benchmark interest rate at 26.5 per cent, citing rising external risks, renewed inflationary pressure, and the need to sustain exchange rate stability. The CBN Governor, Olayemi Cardoso, announced the decision at the end of the committee’s 305th meeting held in Abuja....

Otedola Sells Geregu Stake for Dangote Refinery IPO Entry

22.05.2026

Femi Otedola has disclosed that he sold his stake in Geregu Power Plc to position himself for investment in the proposed initial public offering of Dangote Petroleum Refinery, describing the facility as a transformative industrial project capable of reducing Africa’s dependence on imported petroleum products. Otedola made the disclosure during a visit by the board...

ExxonMobil Pushes STEM Education for Future Workforce Skills

22.05.2026

ExxonMobil affiliates in Nigeria, in collaboration with Junior Achievement Nigeria, have launched the third edition of the Science, Technology, Engineering, and Mathematics Africa Initiative in Abuja. The programme, organised by the ExxonMobil Foundation and Junior Achievement Nigeria, aims to build students’ confidence and interest in STEM-related careers while exposing them to opportunities in the 21st-century...

Elevate Africa Fellowship expands 2026 faculty line-up

22.05.2026

Founder of The Discovery Centre, Mfon Ekpo, has been announced as a member of the 2026 faculty for the Elevate Africa Fellowship, a pan-African leadership programme bringing together mid-career leaders from across the continent. In a statement on Tuesday, it was stated that the 2026 Fellowship will take place in Kigali, Rwanda, in May and...

DisCos Reject Lagos Plan to End Electricity Tariff Bands

22.05.2026

Electricity distribution companies have faulted the Lagos State Government’s proposed plan to phase out electricity customer band classification, warning that the move could trigger consumer unrest, worsen market distortions, and lead to blackouts if implemented prematurely. Officials of the power firms, who spoke anonymously with The PUNCH due to the sensitivity of the matter, said...

Oil Prices Ease to $105 Amid US-Iran Peace Talk Progress

22.05.2026

The price of Brent crude dropped to $105 per barrel on Wednesday amid ongoing peace talks aimed at de-escalating tensions in the Middle East. According to data from Oilprice.com, Brent fell by $6, down from $111 on Tuesday, while WTI eased to $98 from $105 the previous day. The decline came after US President Donald...

FAAN Tightens Airport Surveillance Over Ebola Outbreak Fears

22.05.2026

The Federal Airports Authority of Nigeria has assured travellers and stakeholders that stringent preventive measures have been activated across the nation’s international airports following renewed concerns over the Ebola Virus Disease outbreak reported in parts of Central Africa. The authority said it had intensified passenger surveillance, health screening, and emergency response procedures in collaboration with...