Category: Refined Living

Chinese President Xi Jinping has made a rare public reference to a recent military crackdown that saw the country’s top general removed from his post. General Zhang Youxia, widely regarded as one of Xi’s closest military allies, was dismissed in January over “serious violations of discipline and law,” a term often used to indicate corruption. Another senior officer, General Liu Zhenli, was also removed. In a virtual address on Tuesday, Xi described the past year as “unusual and extraordinary,” saying the People’s Liberation Army (PLA) had undergone “revolutionary tempering in the fight against corruption.” He added that the army had addressed “various risks and challenges” and that many personnel had gone through “in-depth political rectification,” while emphasizing that PLA troops remained “loyal to the Party” and “capable and dependable.” The remarks were part of Xi’s annual Chinese New Year greetings to the PLA and mark the first time since 2022 that he publicly referenced corruption in this context. Zhang, 75, was vice-chairman of the powerful Central Military Commission (CMC), which Xi heads. The latest dismissals follow a previous purge in October 2025 that removed nine top generals, including some CMC members, as part of an anti-corruption campaign. Over the past three years, 14 full-rank generals have been sacked or investigated, leaving the seven-member CMC with only two members, including Xi himself. Observers note that Xi rarely speaks publicly, making these comments highly unusual. Analysts suggest that addressing the crackdown serves to reassure Party officials and the public that the measures are part of a broader plan, especially given the impact of the purges on the military’s operational capacity. Xi has made anti-corruption efforts a central pillar of his leadership, calling corruption the “biggest threat” to the Communist Party and describing the fight as “grave and complex.” Experts say the public messaging is intended more as an internal signal within the Party, demonstrating the consequences of disloyalty or corruption, rather than providing detailed explanations of the internal dynamics.

German automaker Mercedes-Benz on Wednesday announced its lowest annual profit since the COVID-19 pandemic, citing the impact of US tariffs and intense competition in the Chinese market. The company reported a net profit of €5.3 billion ($6.3 billion) for 2025, representing a decline of nearly 49 per cent from 2024. The result, however, exceeded analysts’ expectations, according to estimates compiled by financial data firm FactSet. Chief Executive Officer Ola Kaellenius said the results were in line with the company’s guidance despite challenging market conditions. He expressed optimism about the future, pointing to plans for more than 40 new model launches over the next three years and a strong product lineup. Mercedes-Benz expects 2026 to remain challenging, forecasting revenue of around €132.2 billion, roughly in line with the previous year. Core profit is expected to improve significantly compared with 2025, supported by the absence of one-off restructuring costs. However, the company anticipates a car business profit margin of between three and five per cent this year, potentially lower than last year’s five per cent. Following the announcement, Mercedes-Benz shares fell 4.5 per cent in early trading in Frankfurt, making it the weakest performer on Germany’s DAX index. The automaker has faced mounting pressure from US import tariffs, slowing demand in Europe and heavy investment costs linked to electric vehicle development amid uneven consumer uptake. At the same time, weakening sales in China have weighed heavily on performance. Kaellenius described the current period as a historic transformation for the auto industry, taking place in an unusually volatile global environment. China, the world’s largest automotive market, has become increasingly competitive for foreign manufacturers, with aggressive pricing and strong local rivals such as BYD and Geely. Chief Financial Officer Harald Wilhelm said the company expects further sales declines in China despite new product launches. Mercedes-Benz’s vehicle sales in China fell 19 per cent last year to their lowest level since 2016, contributing to a 10 per cent drop in global sales volumes.

United Bank for Africa Plc has rolled out a new Aggregator Sales Structure for its RedPay POS and Agency Banking Network, a move aimed at deepening partnerships and expanding financial inclusion across Nigeria. The multi-benefit structure was unveiled at the maiden UBA Aggregator Engagement Session held on Tuesday at the bank’s headquarters in Lagos. The event, themed “POS-itive Impact: Connecting Agents, Merchants, and Customers,” provided a collaborative forum for aligning strategies to scale the UBAMONI Agency Banking ecosystem, bringing together key aggregators, POS partners and network managers. Speaking at the session, UBA’s Executive Director Designate, Digital Banking, Emmanuel Lamptey, described the initiative as a major step toward widening access to financial services. He said the engagement reinforced the bank’s commitment to working closely with aggregators and partners to strengthen the ecosystem that connects UBA to communities and ensures dependable banking services are accessible to more Nigerians. Delivering the keynote address, UBA’s Head of Digital Banking, Shamsideen Fashola, underscored the strategic importance of partnerships in achieving the bank’s digital ambitions. He explained that the new framework is designed to be scalable, transparent and mutually beneficial, equipping partners with the technology and support needed to boost agent productivity and effectively serve underserved communities. UBA noted that the platform offers significant value to both agents and aggregators, including instant settlements, reliable transaction processing, real-time dashboard reporting and a wide range of services such as dispute and terminal management, analytics, card withdrawals, bill payments and pay-with-transfer options. For aggregators, the model enables structured onboarding and management of agents, access to competitive incentives and commissions, and real-time insights through a dedicated Aggregator Admin Portal. Also speaking, UBA’s Head of Agency Banking, Adetunji Iyiola, said the new structure enhances collaboration among the bank, its merchants and agents, while improving customer service delivery. He added that the initiative provides partners with the tools and incentives needed to succeed, while ensuring banking services reach communities where they are most needed. With the introduction of the aggregator framework, UBA strengthens its position as a leader in digital financial innovation, focused on closing the inclusion gap and supporting economic empowerment across Africa.

The Executive Chairman of the Nigerian Revenue Service, Zacch Adedeji, has described technology as central to the effective implementation of Nigeria’s new tax laws. Adedeji made this known on Wednesday while delivering the inaugural convocation lecture at the Federal Polytechnic, Ayede, in Ogo-Oluwa Local Government Area of Oyo State. The lecture was titled “The Role of Technology in Implementing Nigeria’s New Tax Laws: Challenges, Prospects, and Implications for National Development.” In a statement issued by his Technical Assistant on Print Media, Sikiru Akinola, Adedeji identified key challenges facing tax administration, including inadequate infrastructure, skills gaps, lack of trust and resistance to change. He said these issues would be addressed through the ongoing upgrade of Nigeria’s tax system to support digital operations. According to him, the newly enacted tax laws represent the most far-reaching overhaul of Nigeria’s fiscal framework in five decades. He explained that beyond legal reforms, the laws fundamentally redefine how authority functions within the tax system, marking a shift from manual tax collection to data-driven tax intelligence. Adedeji noted that the new laws assume the availability of reliable taxpayer identification, integrated data systems, traceable transactions, automated processes and scalable enforcement mechanisms. He stressed that the laws are designed for a digital environment and cannot function effectively within a fragmented, paper-based system. He added that technology is essential to reducing excessive human discretion in tax administration, which often leads to inconsistency, mistrust and non-compliance. With improved infrastructure, stronger capacity, greater trust and better management of resistance, technology can deliver outcomes that policy alone cannot achieve. Adedeji further highlighted that a technology-driven tax system offers the opportunity to expand the tax base without raising tax rates. He said improved visibility of economic activities would promote fairness, ease pressure on existing taxpayers and enhance the legitimacy of the tax system, leading to sustainable revenue growth. Also speaking at the event, the Speaker of the House of Representatives, Tajudeen Abbas, urged graduating students to serve as worthy ambassadors of the institution and continue to pursue knowledge. He was represented by the senator representing Oyo North, AbdulFatai Buhari. The Chairman of the institution’s Governing Council, Yakubu Datti, praised Adedeji for spearheading reforms in Nigeria’s tax structure, while the Rector, Dr Taofeek Abdul-Hameed, encouraged graduates to draw inspiration from Adedeji’s career, noting that he began his academic journey at a polytechnic.

Samsung Electronics on Thursday announced the start of mass production of its next-generation memory chips designed to support artificial intelligence, describing the development as an industry-leading milestone. The new high-bandwidth HBM4 chips are considered critical for expanding large data centres that drive the rapid growth of AI technologies. US technology firm Nvidia, the world’s most valuable company, is widely expected to be a major customer. In a statement, Samsung said it had commenced mass production of its HBM4 chips and had already shipped commercial units to clients, noting that the move gives it an early leadership position in the HBM4 market. Rising global investment in AI data centres has sharply increased demand for advanced high-bandwidth memory chips. Samsung said the new chips deliver more than 40 per cent higher processing speeds than previous models, exceeding current industry benchmarks and meeting growing performance demands. Following the announcement, Samsung Electronics shares rose by more than six per cent in afternoon trading on the South Korean stock exchange. South Korea has set a national goal of becoming one of the world’s top three AI powers, alongside the United States and China. Samsung and local rival SK hynix are already among the leading producers of high-performance memory chips, with both companies racing to begin HBM4 production. Industry research firm TrendForce projects that global memory chip revenue will climb to a peak of over $840 billion by 2027. Samsung has also reported record quarterly profits this year, driven by strong demand for its advanced memory products. The company has committed billions of dollars to expanding and upgrading its chip manufacturing facilities to meet rising demand. Meanwhile, Nvidia continues to dominate AI computing hardware, fuelling intense demand for memory chips from suppliers such as Samsung and SK hynix. Other major technology firms, including Apple, Microsoft and Amazon, have developed AI-focused chips, but many still rely heavily on Nvidia’s hardware. Analysts and manufacturers have cautioned that the strong focus on AI chip production could contribute to higher consumer electronics prices over time.

The Federal High Court in Lagos on Wednesday convicted and sentenced two Chinese nationals, Huang Haoyu (also known as Ken) and An Hongxu, directors of Genting International Co. Limited, to 46 years’ imprisonment each over their involvement in a multi-billion-naira cybercrime and money-laundering operation. Justice Daniel Osiagor, who delivered the judgment, imposed an alternative fine of N56 million on each convict. He also ordered them to perform three days of community service and directed that they be repatriated to China after completing their sentences and the community service. The two were among 792 suspects arrested by operatives of the Economic and Financial Crimes Commission in Lagos in December 2024 in connection with alleged internet and cryptocurrency fraud. A third defendant, Audu Friday, pleaded not guilty and will face trial. During proceedings, defence counsel Bridget Omateno informed the court that Huang and An had opted to withdraw their initial not-guilty pleas and enter guilty pleas, requesting that the charges be read to them afresh. The court granted the request, and after the seven-count charge was re-read, the two pleaded guilty, while Friday maintained his innocence. The EFCC prosecutor, Bilkisu Bala-Buhari, urged the court to convict the defendants based on their guilty pleas, noting that the prosecution had already called two witnesses before the change of plea. She added that some of the charges carried life imprisonment and others up to 14 years, and asked the court to impose the maximum penalty as a deterrent. In his ruling, Justice Osiagor convicted the two men and sentenced each to a cumulative 46 years in prison, with the option of a N56 million fine. He further ordered that they be repatriated to their country of origin after serving their sentences and completing the community service. The court also approved the forfeiture of assets recovered during the investigation to the Federal Government. Items forfeited include 1,596 mobile phones, 2,120 office chairs, 544 office tables, 194 routers, 43 computer systems, a network server, 126 air-conditioning units, generators, vehicles, hundreds of mattresses and bunk beds, thousands of SIM cards across various networks, and other electronic and household items. The items were recovered from several locations in Victoria Island and Ikoyi, Lagos. According to the charges, the defendants allegedly conspired in 2024 to unlawfully access computer systems and recruit Nigerian youths to impersonate foreign nationals online for financial gain, actions said to threaten Nigeria’s economic and social stability, contrary to the Cybercrimes (Prohibition, Prevention, Etc.) Act, 2015, as amended. They were also accused of laundering proceeds of fraud, including retaining $1.262 million USDT in a Binance wallet and $1.300 million USDT in a Bybit wallet. Prosecutors further alleged that between August and December 2024, the defendants retained N3.4 billion in Genting International’s Union Bank account, funds believed to be proceeds of illegal activities. They were also said to have transferred N913.9 million to an associate, Duliang Pan, who is currently at large, and N106.95 million to Lagos Oriental Hotel Limited. Trial is expected to continue against Audu Friday and the company on separate charges related to unlawful foreign exchange transactions and failure to make statutory declarations to the Special Control Unit Against Money Laundering.

India has introduced new rules requiring social media companies to remove unlawful content within three hours of notification, a sharp reduction from the previous 36-hour window. The updated guidelines, effective from 20 February, apply to major platforms including Meta, YouTube, and X, and cover AI-generated content as well. The government has not explained why the takedown timeframe was shortened. Critics warn the move could intensify government oversight of online content and potentially lead to censorship in the world’s largest democracy, home to over a billion internet users. In recent years, Indian authorities have used Information Technology rules to direct social media firms to remove material deemed illegal under national security and public order laws. Transparency reports indicate that more than 28,000 URLs were blocked following government requests in 2024. The amendments also introduce rules for AI-generated material, defining it as audio, video, or other content created or altered to appear real, such as deepfakes. Ordinary editing, accessibility features, and legitimate educational or design work are excluded. Platforms must label AI-generated content clearly and, where possible, add permanent markers to trace its origin. These labels cannot be removed, and automated tools must be used to detect and prevent illegal AI content, including deceptive or non-consensual material, false documents, child sexual abuse content, explosives-related material, and impersonation. Digital rights groups and technology experts have raised concerns about the feasibility and implications of the new rules. The Internet Freedom Foundation warned that the three-hour window would turn platforms into “rapid-fire censors,” leaving little time for human review and forcing over-reliance on automation. Anushka Jain, a research associate at the Digital Futures Lab, noted that while the AI labelling requirement could improve transparency, the tight deadline risks pushing platforms toward fully automated moderation, increasing the likelihood of wrongful removal. Delhi-based technology analyst Prasanto K Roy described the regulations as “perhaps the most extreme takedown regime in any democracy,” highlighting the difficulty of compliance without extensive automation and minimal human oversight. On AI labelling, Roy added that while the intent is positive, tamper-proof and reliable technologies are still under development.

The Chairman and Chief Executive Officer of the National Hajj Commission of Nigeria (NAHCON), Prof Abdullahi Usman, has formally confirmed his resignation. In a statement issued on Tuesday in Abuja and signed by him, Usman said his decision to step down was taken for personal reasons, dismissing any suggestion of wrongdoing. His resignation comes amid reports that members of the NAHCON board had submitted a petition to President Bola Tinubu seeking his removal over alleged misconduct. The petition, dated January 19, 2026, and signed by 11 board members, expressed a vote of no confidence in the former chairman and accused him of financial indiscipline, lack of transparency and approving expenditures and contracts without board approval, allegedly beyond budgetary limits. The petition also claimed that such actions amounted to serious breaches of financial governance and noted that he was reportedly under investigation by the Economic and Financial Crimes Commission. It further alleged that some Hajj-related contracts were awarded in violation of the Bureau of Public Procurement Act and due process, exposing the commission to legal, financial and reputational risks. In his statement, Usman said his resignation takes effect from Monday, February 9, 2026. He stressed that the decision followed personal reflection and consultation with his family, and was made with respect for the responsibilities of public office. He added that, in line with the National Hajj Commission of Nigeria (Establishment) Act, 2006, he had submitted his resignation in writing to President Tinubu. Usman expressed gratitude to the President for the opportunity to serve, as well as to Vice President Kashim Shettima for his support during his tenure. He also thanked the NAHCON board, management and staff, state pilgrims’ welfare agencies, tour operators, aviation and service providers, and Nigerian partners in Saudi Arabia for their cooperation. Reiterating his position, Usman maintained that his resignation was solely for personal reasons and did not reflect dissatisfaction with the commission, the government or its mandate. Before stepping down, his last official engagement was the reception of Saudi Arabia’s Minister of Hajj and Umrah, Dr Tawfiq Al-Rabiah, in Abuja last week. Prof Usman was appointed chairman of NAHCON by President Tinubu in 2024.

The Board of BUA Foods Plc has announced the appointment of Mr Isyaku Abdulsamad “Khalifa” Rabiu as Chief Officer, Global Procurement and Strategic Operations. In a statement issued on Wednesday, the company said the appointment marks a significant step in strengthening its leadership position in the market. The board described Rabiu as an experienced executive with a strong track record in driving strategic initiatives across multiple sectors. An expert in supply chain resilience and cost optimisation, Rabiu will oversee BUA Foods’ global procurement operations as the company expands its footprint in the food and fast-moving consumer goods (FMCG) segments. Management noted that his leadership is anchored on sustainable growth and operational efficiency. Rabiu has professional experience spanning the food, cement and animal feed industries, where he has focused on strengthening supply chains and reducing operational risks. Prior to his new role, he served as Director of Special Operations at BUA Group, where he was credited with stabilising raw material supply during periods of market volatility. According to the company, he played a key role in strengthening strategic raw material procurement, particularly wheat sourcing, which enhanced supply continuity for its flour business. He also led the establishment of a 40-metric-tonne-per-hour animal feed mill and contributed significantly to the group’s recent agribusiness expansion. BUA Foods further noted that Rabiu was instrumental in the commercial re-entry of BUA Rice Mills, overseeing the successful return of BUA rice products to the Nigerian market. Rabiu is a graduate of Regent’s University London, where he earned a degree in International Relations, and holds a Master’s degree in Management from Georgetown University’s McDonough School of Business. The company encouraged stakeholders to join in congratulating him as he assumes the new role in support of BUA Foods’ long-term growth strategy.

The Federal Government has directed the National Agency for Food and Drug Administration and Control (NAFDAC) to suspend all enforcement actions connected to the proposed ban on sachet alcohol and 200ml PET bottle alcoholic beverages. The directive also instructed the agency to immediately halt the sealing of factories and warehouses linked to the issue. This was disclosed in a statement issued on Wednesday in Abuja by the Special Adviser on Public Affairs to the Secretary to the Government of the Federation (SGF), Terrence Kuanum. According to the statement, the decision followed a joint intervention by the Office of the SGF and the Office of the National Security Adviser, which raised concerns about the security implications of continuing enforcement in the absence of a fully implemented National Alcohol Policy. As a result, all actions, decisions and enforcement measures related to the sachet alcohol ban are to remain suspended pending final consultations, full implementation of the policy and the issuance of further directives. Kuanum noted that while the National Alcohol Policy has been signed by the Federal Ministry of Health in line with the directive of President Bola Tinubu, both offices maintained that NAFDAC must refrain from enforcement until the policy is fully operational. The government said the suspended measures include factory shutdowns, warehouse sealing and public actions emphasising the ban. It warned that ongoing closures and what it described as a de facto ban, without a harmonised policy framework, were already causing economic disruption and creating security risks by affecting jobs, supply chains and informal distribution networks across the country. The statement added that the directive reaffirmed an earlier instruction issued by the SGF’s office in December 2025, which halted all actions on the proposed ban pending consultations and a final decision. Kuanum also disclosed that the SGF’s office had received a letter dated November 13, 2025, from the House of Representatives Committee on Food and Drugs Administration and Control, expressing concerns over NAFDAC’s planned enforcement actions and drawing attention to existing resolutions of the National Assembly on the matter. The Federal Government said it is reviewing legislative resolutions, public health considerations, economic implications and broader national interest issues surrounding the policy. It further noted that the involvement of the National Security Adviser underscored that the matter had moved beyond regulatory concerns, cautioning that premature enforcement without coordinated policy implementation could destabilise communities, worsen unemployment and heighten security challenges. The government assured Nigerians and industry stakeholders that a final decision would be communicated after consultations and inter-agency coordination, in line with public health goals, economic stability and national security interests.