Moniepoint Inc. has launched Nigeria’s first artificial intelligence-powered chatbot aimed at transforming the informal economy.

The innovation, unveiled in Abuja, has drawn praise from the federal government for advancing financial inclusion and supporting millions of small businesses nationwide.

Vice President Kashim Shettima, represented by Minister of Industry, Trade and Investment Dr. Jumoke Oduwole, lauded Moniepoint’s decade-long commitment to empowering informal traders, artisans, and digital entrepreneurs. He noted that the informal economy remains vital to Nigeria’s economic resilience.

“Millions of Nigerians power commerce daily in ways unseen yet indispensable to our economy,” Shettima said. “This report provides an important window into the challenges and opportunities within the sector and serves as a foundation for inclusive, evidence-based policymaking.”

Shettima added that the Tinubu administration prioritizes the informal sector as a key driver of national growth and innovation. He commended Moniepoint for building a strong financial ecosystem that supports micro and small enterprises across Africa.

The AI chatbot, built on advanced Large Language Model (LLM) technology, simplifies access to financial and business information through interactive, conversational engagement. It aims to help small business owners and informal traders better understand key aspects of taxation, savings, and business operations.

Moniepoint MFB Managing Director Babatunde Olofin said the chatbot demonstrates the company’s mission to empower Nigeria’s informal operators with tools for sustainable growth.

“This year’s report dives deeper into unemployment, taxation, savings behavior, and business operations within the informal economy,” Olofin said.

“These insights remind us that the informal economy is not a shadow of our nation’s progress it is its pulse.”

The event also marked Moniepoint’s 10th anniversary. The fintech firm now serves over 10 million active businesses and individuals, processing more than one billion transactions monthly and facilitating payments exceeding $22 billion.

Moniepoint’s latest innovation reinforces its reputation as one of Africa’s fastest-growing financial technology firms, bridging the gap between informal enterprises and digital inclusion.

Elon Musk’s artificial intelligence firm, xAI, has launched a new online encyclopedia called Grokipedia to rival Wikipedia, which the billionaire claims is biased toward left-wing ideologies.

The new platform, unveiled on Monday, is currently in its early stage version 0.1 and already hosts over 885,000 articles, far fewer than Wikipedia’s more than seven million English-language entries.

Musk, however, promised a much-improved version 1.0, which he said would be “10 times better” than Wikipedia and more accurate in its information.

“The goal of Grok and Grokipedia.com is the truth, the whole truth, and nothing but the truth,” Musk declared in a post on X. “We will never be perfect, but we shall nonetheless strive towards that goal.”

Originally scheduled for release in September, Grokipedia’s launch was delayed after Musk claimed he wanted to “purge out the propaganda” from the system.

The Tesla and SpaceX CEO has long criticized Wikipedia, accusing it of being “controlled by far-left activists” and urging people to stop donating to the non-profit.

In August, Musk argued that Wikipedia could not serve as a “definitive source for Community Notes” because of its editorial bias.

Grokipedia’s content is AI-generated, combining inputs from Musk’s generative AI tool, Grok, to produce and manage articles.

One entry on the platform describes Musk as someone who has “influenced broader debates on technological progress, demographic decline, and institutional biases,” while noting criticism from “legacy media outlets with systemic left-leaning coverage.”

Founded in 2001, Wikipedia is a volunteer-driven project that allows anyone to edit or write articles.

It is largely funded by public donations and claims to maintain a neutral point of view across its pages.

Meanwhile, the Wikimedia Foundation (WMF), which operates Wikipedia, recently reported an 8% decline in human traffic compared to the same period last year.

WMF attributes the drop to the rise of AI tools and search engines that now display instant answers, often drawing from Wikipedia’s content without redirecting users to the original site.

According to Marshall Miller, Wikimedia’s Senior Director of Product for Core Experiences, the decline “reflects a fundamental change in how the public discovers information.”

Updated bot-detection systems also revealed that much of the apparent human traffic earlier this year came from bots designed to evade detection.

Musk’s move with Grokipedia marks his latest step in reshaping the online information landscape part of his broader push to promote what he calls “free speech and truth-centered AI.”

YouTube has agreed to pay $24.5 million to settle a lawsuit filed by former U.S. President Donald Trump over his suspension from the platform after the January 6, 2021 Capitol riots.

The settlement makes Alphabet-owned YouTube the last of three major tech companies sued by Trump alongside Meta and Twitter, now X to resolve legal disputes over his removal from their platforms.

Settlement details

According to court filings, YouTube will pay $22 million to the nonprofit Trust for the National Mall to support the construction of the White House State Ballroom.

An additional $2.5 million will go to other plaintiffs, including the American Conservative Union.

When contacted, YouTube declined to comment and instead referred reporters to the court document.

Trump, celebrating the outcome on his social media platform Truth Social, wrote:

“This MASSIVE victory proves Big Tech censorship has consequences.”

Earlier settlements by Meta and X

Meta settled its case with Trump in January for $25 million, while X followed in February with a payment of about $10 million, according to The New York Times.

The three platforms initially suspended Trump’s accounts, citing concerns that his posts during the Capitol riots risked inciting further violence.

At the time, legal experts noted that most lawsuits against tech companies had been dismissed because platforms have broad rights to moderate content.

The settlements highlight a shift in how major tech firms now engage with Trump and his allies.

Since Elon Musk’s acquisition of Twitter in 2022, Trump’s account was reinstated, followed by Meta in February 2023 and YouTube in March 2023.

Tech leaders have also aligned more closely with Trump since his return to office in January 2025.

Musk, Mark Zuckerberg of Meta, and Sundar Pichai of Alphabet all attended his inauguration.

At the same time, companies have scaled back moderation rules once criticized by Republicans as censorship.

Just last week, YouTube announced it would restore some accounts previously banned under its misinformation policies, including channels that disputed the results of the 2020 election.

The company said it “values conservative voices” and recognizes their role in shaping civic discourse.