News
Crypto Startup Amber Group Closes $100m Funding, Two Other Things And A Trivia

This line-up of stories will help you discover the latest happenings around the tech world, today.
1. Crypto startup Amber Group closes $100M
Amber Group, a Hong Kong-based cryptocurrency trading startup has closed a $100 million Series B funding round.
This comes as more mainstream venture capital firms race to become crypto investors despite a global dip in the value of Bitcoin.
According to the company, the new funding takes its portfolio to a pre-money valuation of $1 billion.
Speaking on the latest valuation, the board noted that it is over 300% more than that of the company’s Series A closed in 2019, a $28 million round.
The new raiser saw the participation of high-profile financial and VC firms, including China Renaissance, which led the round, and Tiger Brokers, Tiger Global Management, Arena Holdings, Tru Arrow Partners, Sky9 Capital, DCM Ventures, and Gobi Partners.
The startup was founded by a group of former investment bankers in their twenties to apply machine learning algorithms to quantitative trading.
Tech Trivia: How many iPhones has Apple sold?
A. 100 million
B. 50 million
C. 150 million
D. Over 200 million
Answer: See end of post.
2. US PR firm launches mentorship programme for African female founders
C. Moore Media, a New York-based public relations (PR) company, has launched a mentorship programme for Africa female founder.
Themed: The Future is Female Programme, the initiative is a PR and communications mentorship programme dedicated to the business development needs of African tech female founders.
The programme is expected to provide the underserved market of African female founders of early-stage startups with the PR and communications insights.
Also, it hopes to improve participants on knowledge, and skills needed to gain visibility while growing their business.
Hence, the programme is aimed at African women based on the continent or in the diaspora, launching or growing a tech business for African markets or serving Africans in the diaspora.
The initiative comes as the second edition, and female founders will learn insights into the fundamentals of PR and communications for early-stage tech startups.
3. TradeBRICS launches to help buyers source products from African suppliers
South African startup TradeBRICS has announced launching as an e-commerce marketplace where global B2B buyers can source products directly from African suppliers and manufacturers.
TradeBRICS, according to its founder and lead strategist, Shaarad Muharaj, was born after the discovery that there are opportunities in importing directly from foreign manufacturers.
He said: “The lack of demand was due to medium and large corporates importing cheaper goods from Asian countries like China, Vietnam, and Bangladesh.
“There were very similar statistics like this across major African countries who rely on imported goods. We knew that this was the opportunity to create an inclusive, international supply chain for all African businesses to benefit from.”
TradeBRICS entered into the journey in 2018 and got registered later in 2019.
Today, with a 20-strong team, the platform enables African suppliers and manufacturers to find global customers, manage and ship orders, apply for purchase order finance, and accept online and offline payments.
Tech Trivia Answer: Over 200 million
American mobile phone manufacturer, Apple remains one of the leading phone manufacturer and retailer in the world with over 200 million phones sold so far.
According to Piper Jaffray reports on Apple, the phone brand has sold 244.2 million of its brand.
News
Police foil N14m ransom payment, rescue kidnap victim, arrest suspects

A kidnap victim, Semiu Ogunniyi, who was abducted from a hotel in Ikare-Akoko, Akoko North-East Local Government Area of Ondo State, has been rescued by police operatives and local hunters.
The Commissioner of Police in the state, Wilfred Afolabi, who disclosed this, revealed that one of the suspected kidnappers involved in the abduction of Ogunniyi, Muhammed Babuga, was arrested in the course of the rescue operation.
According to Afolabi, the kidnappers had demanded a ransom of N14 million for the release of the victim, after which the movement of the suspects was trailed through actionable intelligence.
The police boss disclosed that during the interception, the suspects engaged the operatives in a fierce gun duel, with several suspects sustaining gunshot injuries during the exchange of gunfire.
While speaking with newsmen at the headquarters of the state police command, Afolabi added that two suspected kidnappers, Ibrahim Umar, 25, and Paul Osanyinduro, 38, were arrested in Owo, headquarters of Owo Local Council Area of the state. Abubakar Bamoh, 30, a logistics provider for the kidnappers terrorising various parts of the South-West, was also arrested.
He said, “Command also arrested 3 suspected kidnappers who have confessed to their involvement in various kidnapping cases across the state. This operation marks yet another success in the Command’s ongoing offensive against kidnapping and violent crime in the state.
“Acting on credible intelligence regarding the activities of one Abubakar Bamoh, male, aged 30 years, an indigene of Bunza Local Government Area of Kebbi State, operatives of the Anti-Kidnapping Squad of the Command swung into action and successfully apprehended the suspect at one of the Fulani camps in Igbara-Oke, Ondo State.”
(Daily post)
News
SERAP demands explanation over missing N500bn oil revenue from NNPCL

The Socio-Economic Rights and Accountability Project has asked the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mr Bayo Ojulari, to immediately account for and explain the whereabouts of the N500 billion oil revenue the company allegedly failed to remit to the Federation Account between October and December 2024.
In a letter dated May 17, 2025, and signed by its Deputy Director, Kolawole Oluwadare, SERAP cited recent revelations by the World Bank which showed that out of N1.1 trillion earned from crude oil sales and other income in 2024, only N600 billion was remitted by the NNPCL, leaving a staggering N500 billion unaccounted for.
The organisation is demanding full disclosure and recovery of the missing funds, and has threatened legal action should the company fail to act within seven days.
“SERAP is writing to request you to use your good offices and leadership position to promptly account for and explain the whereabouts of the missing N500 billion, which the Nigerian National Petroleum Company Limited failed to remit to the Federation Account,” the letter stated.JAMB’s
SERAP also urged Ojulari to identify and surcharge those responsible for the missing funds and hand them over to anti-graft agencies for investigation and prosecution.
“SERAP urges you to promptly identify those suspected to be responsible for the alleged missing oil money, surcharge them for the full amount involved, and hand them over to the ICPC and the EFCC,” the group wrote.
Citing the World Bank report, the group noted that revenue from oil sales and other sources was expected to be fully paid into the Federation Account and shared by all tiers of government, but the NNPCL failed to comply.
“Nigerians have the right to know why the NNPCL is remitting only 50 per cent of the gains generated from the removal of petrol subsidies to the Federation Account,” SERAP said.
“The failure by the NNPCL to remit the money is a grave violation of the public trust and the provisions of the Nigerian Constitution, national anti-corruption laws, and international obligations under the UN Convention against Corruption.”
SERAP warned that the alleged disappearance of such a large sum has serious implications for economic development, poverty alleviation, and the provision of basic public services at a time of national hardship.
“Despite the country’s enormous oil wealth, ordinary Nigerians have derived very little benefit from oil money primarily because of widespread grand corruption, and the entrenched culture of impunity of perpetrators,” the group added.
It stressed that the failure of the NNPCL to uphold transparency and accountability standards has worsened the country’s fiscal crisis.
“The missing oil revenue reflects a failure of NNPCL accountability more generally and is directly linked to the institution’s continuing failure to uphold the principles of transparency,” SERAP noted.
Citing paragraph 3112(ii) of the Financial Regulations 2009, the group said any public officer who fails to account for government revenue “shall be surcharged for the full amount involved and handed over to either the EFCC or the ICPC.”
News
Security Operatives Nab ‘Wanted’ Kidnapper In Abuja Hajj Camp

Security operatives have reportedly arrested a wanted kidnapper at the hajj camp in Abuja.
A security source at the camp confirmed the arrest to our correspondent, on Sunday.
He said the suspect was nabbed during screening of pilgrims who were preparing to be airlifted to Saudi Arabia. He disclosed that the suspect identified as Yahaya Zango resided at Paikon -Kore in Gwagwalada area council of the FCT.
The source said security agencies had declared him wanted, following his alleged involvement in some kidnappings.
He said the suspect presented his passport alongside other Muslim contingent from Abuja who were on their way to observe this year’s hajj. “It was this afternoon during the screening at the hajj camp in airport when the DSS operatives apprehended him and whisked him away,” he said
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