Business

The world’s largest advanced economies are preparing to simulate AI-enabled cyberattacks on their financial systems, as regulators shift attention from simply keeping hackers out to making sure banks can still function when defences fail.

Artificial intelligence could create more economic harm than opportunity if governments and technology companies fail to put adequate safeguards around its development and use, International Monetary Fund (IMF) Managing Director Kristalina Georgieva warned on Friday.

The Nigerian Exchange Group (NGX) is taking Dangote Petroleum Refinery and Petrochemicals FZE’s ₦2.15tn initial public offering to investors in Egypt, Ethiopia and Botswana as it seeks to attract cross-border participation in the share sale.

Elumelu, chairman of Heirs Holdings and co-chair of the West Africa Integration and Investment Summit, said the team had identified projects to be presented to potential lenders ahead of the inaugural summit scheduled to take place in Sierra Leone in November.

Nigerian women entrepreneurs can apply for Her Startup’s second accelerator cohort, which offers paid-for training, a monthly stipend, and an opportunity to pitch for business financing. Applications close on October 26, 2026.

Director of the IMF’s African Department, Zeine Ould Zeidane, said Nigeria had made significant progress in reducing inflation following a period of elevated price pressures and high real interest rates.

At the October 15 unveiling in Texas, the vehicle also drove upside down along a ramp using a suction system before performing airborne manoeuvres. Tesla has not disclosed its selling price.

The Financial Markets Dealers Association’s second-quarter foreign exchange market report, based on Central Bank of Nigeria data, showed that utilisation increased by 12.84 percent from $16.25bn in the first quarter and 52.42 percent from $12.03bn in the corresponding period of 2025.

The market opened with a capitalisation of ₦160.812 trillion before edging up at the close. Similarly, the All-Share Index (ASI) advanced by 33.48 points, from an opening level of 247,673.65 to 247,707.13.

Nigeria’s latest foreign-reserves correction reduces the balance reported under President Bola Tinubu, but leaves it above the peaks attributed to three previous administrations in TheCableIndex’s comparison.