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Tesla Recalls Over 125,000 Vehicles in U.S. Due to Seat Belt Warning Malfunction

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Tesla, the multinational automaker, is recalling approximately 125,227 vehicles in the United States due to a malfunction in the seat belt warning system that could increase the risk of injury in a collision. This announcement was made by the National Highway Traffic Safety Administration (NHTSA) on Friday.

The NHTSA indicated that the affected vehicles fail to meet federal safety requirements as the seat belt warning light and audible chime may not activate when the driver is unbelted. This recall impacts certain models: 2012-2024 Model S, 2015-2024 Model X, 2017-2023 Model 3, and 2020-2023 Model Y.

Tesla plans to address this issue through an over-the-air software update, which is expected to begin deployment in June. According to the NHTSA, the update will modify the software to remove its dependency on the driver seat occupancy sensor, instead relying solely on the driver seat belt buckle and ignition status to trigger the seat belt reminder signals.

This recall follows previous issues with Tesla vehicles. In January, Tesla recalled 200,000 Model S, X, and Y vehicles in the U.S. due to a software malfunction that could obstruct drivers’ visibility while reversing. Additionally, in April, Tesla recalled 3,878 Cybertrucks to fix an accelerator pedal pad that could become loose and get lodged in the interior trim.

Furthermore, U.S. auto safety regulators opened an investigation last month into the adequacy of Tesla’s December recall of over 2 million vehicles. This recall was intended to install new Autopilot safeguards following a series of crashes.

Tesla’s recent recalls and ongoing investigations highlight the company’s proactive approach to addressing safety concerns and complying with federal regulations. While these recalls may pose short-term challenges, they reflect Tesla’s commitment to ensuring the safety and reliability of its vehicles.

Tesla’s innovative approach to vehicle software updates allows for swift and efficient resolution of identified issues. The company’s over-the-air update capability minimizes inconvenience to vehicle owners, as it eliminates the need for physical visits to service centers.

The frequent recalls in the automotive industry underline the importance of stringent safety standards and continuous monitoring. For Tesla, maintaining consumer confidence hinges on its ability to swiftly address and rectify any safety concerns. By transparently managing recalls and leveraging technology for solutions, Tesla can reinforce its commitment to customer safety and uphold its reputation as a leader in automotive innovation.

 

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Business

CBN Restores BDC Access to FX Market, Caps Weekly Purchases at $150,000

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By Huldah Shado

The Central Bank of Nigeria (CBN), has approved the participation of licensed Bureau De Change (BDC), operators in the Nigerian Foreign Exchange Market (NFEM), allowing each BDC to purchase up to $150,000 weekly.

The approval was contained in a circular dated February 10, 2026, signed by the Director of the Trade and Exchange Department, Dr. Musa Nakorji, and addressed to authorised dealer banks and the general public.

The CBN said the move is aimed at improving foreign exchange liquidity in the retail segment of the market and meeting the legitimate needs of end users, amid a widening gap between the official and parallel market exchange rates.

Under the new arrangement, licensed BDCs can access foreign exchange from the NFEM through any authorised dealer bank of their choice at the prevailing exchange rate.

The apex bank directed banks to carry out full Know-Your-Customer (KYC), and due diligence checks on BDC clients before selling foreign exchange to them.

It also imposed reporting and transparency requirements, mandating BDCs to submit returns electronically to the CBN.

In addition, the bank prohibited third-party transactions and limited cash settlement to a maximum of 25 per cent of each transaction.

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Abuja Reports

Ultraviolet MFB MD Visits Equity Circle, Eyes Strategic Partnership

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By Samson Adeyanju 

The Managing Director and Chief Executive Officer of Ultraviolet Microfinance Bank, Bayonle Omoyele, has paid a working visit to Equity Circle, one of Abuja’s fast-growing real estate companies, as part of efforts to strengthen strategic partnerships within Nigeria’s real estate sector.

During the visit, Equity Circle’s Co-Founder and Chief Marketing Officer, Fabian George, conducted Omoyele on a tour of the company’s facilities and outlined its growth trajectory.

He disclosed that the firm recorded significant milestones over the past four years, culminating in an ₦8 billion revenue in the 2025 financial year.

Discussions between both parties focused on establishing a strategic credit relationship, with proposed areas of collaboration including invoice discounting, structured credit solutions, and cash-flow management support to help Equity Circle sustain and scale its operations.

Addressing Equity Circle staff during an interactive session, Omoyele emphasised the importance of strong marketing fundamentals, highlighting the 4Ps of marketing-Product, Price, Place, and Promotion, as key drivers of long-term competitiveness and brand leadership.

He also urged the team to adopt a long-term growth mindset, remain focused, and ensure that every unit contributes meaningfully to the organisation’s strategic goals, noting that disciplined execution is critical in Nigeria’s evolving real estate market.

The visit underscores Ultraviolet Microfinance Bank’s commitment to supporting high-growth enterprises through tailored financial solutions and partnerships that promote sustainable economic development.

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Moniepoint Strengthens Africa’s Tech Talent Pipeline with DreamDevs Cohort 2

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By Omoniyi David

Moniepoint Inc has reaffirmed its commitment to building Africa’s technology talent pipeline, announcing the opening of applications for the second cohort of its flagship DreamDevs initiative.

Co-Founder and CTO Felix Ike described DreamDevs as a programme that equips recent graduates with industry-ready skills and hands-on experience to bridge the continent’s tech talent gap.

“The success of our first cohort validated that Africa’s young tech talent can compete globally. This year, we aim to convert half of our participants into full-time employees,” Ike said, adding that the initiative creates sustainable career pathways that drive Africa’s digital economy.

DreamDevs complements Moniepoint’s other talent development programmes, including HatchDev, in collaboration with NITHub, University of Lagos, which trains about 500 specialised developers annually, and the Women-in-Tech programme, now in its fifth year.

The initiative also aligns with the Federal Government’s 3 Million Technical Talent (3MTT), programme, with Moniepoint serving as a key sponsor, offering graduates a specialised pathway from training to employment.

DreamDevs underscores Moniepoint’s broader mission to leverage technology to empower Africa’s youth and advance the continent’s digital economy.

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