Author: News Room

The Bank for International Settlements has warned that artificial intelligence “exuberance” could have major financial consequences, as heavy reliance on debt financing in AI ventures raises the risk of cascading defaults if investor optimism fades.The five largest hyperscalers are set to spend more than $1 trillion on AI-related capital expenditures from 2025 through 2026, and these commitments are outpacing earnings, the Basel-based institution said in its annual economic report released Sunday.“Equity valuations are elevated, particularly for firms at the core of AI development … sustaining such high growth could become increasingly challenging,” the bank said. AI investment enthusiasm has surged with…

The 2026 BET Awards will celebrate all the nominees and winners on culture’s biggest night. Druski is hosting the Sunday, June 28, ceremony at Peacock Theater in Los Angeles. Cardi B leads this year’s nominees with six total nods. Kendrick Lamar and Mariah the Scientist follow closely behind with five nominations each, while Doechii, Doja Cat, Clipse, Teyana Taylor, Olivia Dean and Latto are each nominated in four categories. Scroll down for the complete list of 2026 BET Awards nominees — and look for the bold names to see who won each category: Related: The 2026 BET Awards Red Carpet:…

The Senate Leader, Opeyemi Bamidele, has accused the opposition parties of politicising the debate on state police, arguing that their stance is driven by partisan interests rather than constructive engagement with national security concerns. Mr Bamidele, who represents Ekiti Central Senatorial District, stated that critics of the proposal have shifted focus from Nigeria’s security challenges to political manoeuvring, at a time when they should be offering ideas to strengthen the nation’s security architecture. He made these remarks in a statement from his media office on Sunday in response to public discourse surrounding the State Police Bill, which the Senate passed…

Nigeria has officially unveiled a 12-man roster for the upcoming FIBA Basketball World Cup African Qualifiers, with newly appointed head coach David Fizdale set to lead the D’Tigers into their first competitive assignment. The qualifiers will tip off on Thursday in Angola, where Nigeria will face Tunisia, Guinea, and Rwanda in a crucial bid to strengthen their qualification hopes for the 2027 FIBA Basketball World Cup. The squad blends experienced internationals with proven performers from leagues across Europe, North America and Africa, highlighting Nigeria’s determination to return to the global stage. Leading the team is former NBA forward Chimezie Metu,…

The Federal Government has tightened the promotion process for senior treasury officers, making verified performance records a mandatory requirement for advancement to directorate-level positions in the 2026 promotion exercise. In a move aimed at strengthening accountability and entrenching merit-based career progression in the Federal Public Service, the Office of the Accountant-General of the Federation directed that only officers with duly completed, verified and properly endorsed performance appraisal reports would be eligible to participate in the Year 2026 directorate-level promotion examination and interview. The directive was contained in a circular dated June 23, 2026, and signed by the Director (Administration), Dauda…

The National Drug Law Enforcement Agency has intercepted 4,959 kilograms of Canadian ‘loud’ cannabis valued at N12.397bn at the Apapa Port in Lagos and dismantled a syndicate that plants illicit drugs in the luggage of unsuspecting passengers at motor parks. The agency also arrested a businesswoman at the Murtala Muhammed International Airport, Lagos, with 7.5 kilograms of cocaine concealed in the false bottom of her luggage while she was travelling to Beijing, China. NDLEA disclosed the arrests and seizures in a statement on Sunday by its Director of Media and Advocacy, Femi Babafemi. According to the agency, 38-year-old Iwebema Ogechi…

The governorship and National Assembly candidates of the All Progressives Congress in Gombe State on Sunday received their Independent National Electoral Commission nomination forms, as the party’s duly nominated flag bearers for the 2027 general elections. The nomination forms were presented by Governor Muhammadu Yahaya during a brief ceremony at the Government House, Gombe, marking the completion of the APC’s internal nomination process and the commencement of the process for the submission of candidates to INEC. According to a statement issued by the Director-General of Press Affairs, Government House, Ismaila Misilli, the presentation signifies the conclusion of the party’s nomination…

South Korea’s dismal World Cup first-round exit has sparked fury at home and calls for a complete overhaul at the top have not been silenced by coach Hong Myung-bo’s resignation. South Korea, World Cup semi-finalists as co-hosts in 2002, limped out of the tournament after failing to squeeze into the knockout rounds as one of the top eight third-place finishers. They had the last 32 within their reach only to suffer a shock 1-0 loss to lower-ranked South Africa. Their early exit prompted coach Hong to quit on Sunday and cast doubt over the international future of captain Son Heung-min.…

Crypto treasury company Sharplink, which resumed buying Ether last week after an eight-month pause, has bought a total of $62.4 million worth of Ether since Thursday. Onchain data from Arkham shows that after Sharplink bought 5,000 ETH on Thursday, it bought another 5,000 ETH (worth $7.9 million) on Friday, followed by 29,196 ETH (worth $46.7 million) across three over-the-counter transactions on Saturday. Source: LookonchainThe three-day buying spree adds to evidence that Sharplink has revived its active Ether accumulation strategy. The crypto treasury company was once a close competitor to Bitmine as the world’s largest ETH treasury company. Sharplink declined to comment on the…

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