Business
Google Grant Nigeria N2.8bn AI Fund
Bosun Tijani, the Minister of Communications, Innovations and Digital economy says the federal government has secured N2.8 billion grant from Google to boost artificial intelligence (AI) talent development in the country.
The Minister discloses this at a press briefing in Abuja on Thursday. Tijani said that the support comes one month after the government partnered with Google to launch a N100 million AI fund initiative in Nigeria.
” The fund is part of Google’s $5.8 million commitment to support digital skills programmes across sub-Saharan Africa.
“This support from Google is a testament to our commitment to positioning Nigeria as a leader in AI innovation,” the minister said.
Matt Brittin, President, Google EMEA, said the grant will be implemented in Nigeria through the government’s ongoing three million technical talents (3MTT) programme with a focus on 20,000 Nigerians with AI skills.
The 3MTT, launched on October 13, is a four-year programme aimed at training Nigerians and building the country’s technical talent backbone to power the digital economy and position Nigeria as a net talent exporter.
Brittin added that through the scheme, 125,000 educators will be trained and 10 promising Nigerian AI startups will be empowered with N100 million.
” I am pleased to announce that Google.org is providing N2.8 billion (or approximately $1.7 million) in funding to the Data Scientists Network Foundation, supporting the honourable minister’s vision for AI growth in Nigeria,” Brittin said.
“This funding will be directed toward critical initiatives that advance AI skills and opportunities across the country. Through this grant, we’re supporting the FMCIDE’s 3 Million Technical Talents (3MTT) program, with a focus on equipping 20,000 young Nigerians with advanced skills in AI and data science.
“Additionally, the Experience AI Program, developed with the Raspberry Pi Foundation, will train 25,000 educators to inspire and educate 125,000 young learners, introducing them to AI fundamentals.
The AI Fund, created in collaboration with NCAIR, is providing 10 promising Nigerian AI startups with N100 million in funding, alongside up to $3.5 million in Google Cloud Credits, mentorship from Google engineers, and technical support.”
Brittin said BetaLife Health, Bunce, CDIAL AI, Farmspeak, Lendsqr, ProDevs, Rana Energy, SaaSPro Health, Towntalk and Trade Lenda, are the 10 startups selected for the AI fund.
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Business
NAICOM Revokes Nigeria Reinsurance’s Licence, Freezes Operations Over Capital Shortfall
Banire directed banks, financial institutions, policyholders and members of the public not to honour any instruction relating to the company except those issued by him or persons expressly authorised by him.
The National Insurance Commission (NAICOM) has revoked the operating licence of Nigeria Reinsurance Corporation for failing to meet the statutory Minimum Capital Requirement (MCR) and appointed Senior Advocate of Nigeria, Dr. Muiz Banire, SAN, as Receiver/Provisional Liquidator to wind up the company’s affairs.
The appointment took effect on August 3, 2026, following the cancellation of the company’s certificate of registration by the insurance regulator.
In a public notice dated August 4, 2026, Banire said NAICOM appointed him, in exercise of its statutory powers, to oversee the receivership and liquidation of Nigeria Reinsurance Corporation (RR-002).
In the notice, the company’s licence was revoked after it failed to comply with the prescribed Minimum Capital Requirement applicable to its category of licence within the stipulated compliance period, in accordance with the Nigerian Insurance Industry Reform Act (NIIRA) 2025 and other extant laws, regulations and guidelines.
Banire said his appointment authorises him to immediately trace, recover, secure and take possession of the company’s assets, collate and settle its liabilities in line with the NIIRA 2025, liaise with NAICOM on matters relating to the liquidation, and submit periodic reports to the Commission.
Banire directed banks, financial institutions, policyholders and members of the public not to honour any instruction relating to the company except those issued by him or persons expressly authorised by him.
Source: ThisDay
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