Business

BREAKING: Elon Musk’s Firm Set To Test Micro Implants On Human Brains

Published

3 years ago

May 26, 2023

449 Views

A tech startup co-founded by Elon Musk, known as Neuralink, has received approval from the United States’ Food and Drug Administration to test its brain implant on human beings, after the coin-sized implants have been tested on monkeys and pigs. This is according to a statement shared via the company’s official Twitter page on Thursday.

The firm’s announcement stated that: “We are excited to share that we have received the FDA’s approval to launch our first-in-human clinical study!” the tweet read. “This is the result of incredible work by the Neuralink team in close collaboration with the FDA and represents an important first step that will one day allow our technology to help many people.”

Musk also commented on the post on Friday, tweeting, “Congratulations to the Neuralink team.”

The implants are meant to allow humans to interface directly with computers. Musk had earlier touted the product as a possible solution for persons living with disabilities, as it could help restore vision and movement. He made headlines late last year after stating that he trusted the device enough to implant them in his children.

During a presentation by the company in December last year, Neuralink showed several monkeys playing basic video games or moving a cursor on a computer screen using Neuralink chips implanted in their brains, CBS News reports.

Musk, who also spoke at the presentation said, “We would initially enable someone who has almost no ability to operate their muscles and enable them to operate their phone faster than someone who has working hands.

“As miraculous as it may sound, we are confident that it is possible to restore full body functionality to someone who has a severed spinal cord.”

Employees told Reuters in March the company had earlier sought approval from the FDA in 2022 but the application was rejected. The regulator cited several concerns including the safety of lithium battery powering the device, possibility of the chip’s wires migrating within the brain, and the challenge of safely removing the device without damage to the brain.

Neuralink is currently under several federal investigations including an inquiry by the US Department of Agriculture, into potential animal-welfare violations during the animal tests conducted by the company.

Business

CBN Holds Benchmark Interest Rate at 26.5% Amid Renewed Inflation Concerns

Published

1 hour ago

May 20, 2026

Charles Flames

20 Views

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has retained the Monetary Policy Rate (MPR) at 26.5 per cent, maintaining the current stance after its two-day meeting that ended on Wednesday, May 20, 2026.

CBN Governor Olayemi Cardoso announced the decision, noting that the committee voted unanimously to hold all key parameters unchanged. The asymmetric corridor around the MPR remains at +500/-450 basis points, the Cash Reserve Ratio (CRR) stays at 45 per cent for commercial banks and 16 per cent for merchant banks, while the liquidity ratio is retained at 30 per cent.

The hold comes as headline inflation rose for a second consecutive month to 15.69 per cent in April 2026, up from previous levels, driven largely by food inflation at 16.06 per cent and higher transportation costs. Cardoso emphasised the need for a cautious and vigilant approach to anchor inflation expectations and safeguard macroeconomic stability.

This decision aligns with analysts’ expectations ahead of the 305th MPC meeting and follows the first rate cut in years implemented in February 2026, when the MPR was reduced by 50 basis points to the current 26.5 per cent.

The CBN Governor highlighted ongoing reforms, exchange rate stability, and efforts to improve food supply as factors supporting the disinflation process, even as global and domestic risks persist. The next MPC meeting is expected in July.

The retention signals the apex bank’s priority on taming inflation while monitoring the impact of previous policy actions on the broader economy.

Business

South African pension fund expresses interest in Dangote IPO

Dangote Group , in a statement shared on its official X handle, underscored increasing attention from African institutional investors towards projects considered critical to strengthening energy security, industrial capacity, food systems and regional economic resilience across the continent.

Published

9 hours ago

May 20, 2026

OCHEFA

43 Views

Photo: Aliko Dangote address representatives of South African pension fund, Tuesday May 19, 2026.

Representatives of South Africa’s Government Employees Pension Fund (GEPF) and the Public Investment Corporation (PIC) visited yesterday the Dangote Petroleum Refinery & Petrochemicals and Dangote Fertiliser Limited , and expressed interest in the upcoming Dangote IPO.

The planned IPO is expected to involve the sale of about 10 percent equity in the refinery through what the Dangote Group has described as a pan-African public offering.

According to the company, African investors and institutions are increasingly looking inward to support large-scale infrastructure projects capable of driving sustainable economic growth and accelerating industrial transformation across the region.

The engagement also comes as the refinery moves closer to its planned Initial Public Offering (IPO), which is expected to open up ownership of the facility to a broader pool of investors across Africa.

The company noted that ongoing engagements with major institutional investors reflect growing recognition of strategic infrastructure as a key driver of Africa’s long-term economic transformation and industrial expansion.

Business

NRS Enforces Unified Tax ID system for all taxable persons in Nigeria

In addition, NRS said that the Tax ID framework would harmonise taxpayer information across all levels of government.

Published

2 days ago

May 18, 2026

OCHEFA

59 Views

Nigeria Revenue Service (NRS), in collaboration with the Joint Revenue Board (JRB) commences the implementation of a new Taxpayer Identification (Tax ID) system for all taxable persons in Nigeria.

The agency announced this via a public notice issued on Monday.

NRS said that the initiative is in line with Sections 6, 7 and 8 of the Nigeria Tax Administration Act, 2025, which mandate every taxable person in the country to obtain a Tax ID.

The agency explains that taxpayers will now operate with a single tax identity for all tax-related transactions and engagements across the country.

The NRS added that the initiative would simplify tax compliance processes, including registration, tax filing, and payment procedures.

It also noted that the system would improve transparency by enabling better visibility and tracking of taxpayer records while reducing leakages and improving accountability in tax collection.

In addition, NRS said that the Tax ID framework would harmonise taxpayer information across all levels of government.