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Tesla Recalls Over 23,000 Cybertrucks Due to Safety Concerns

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Tesla is recalling 11,688 Cybertruck electric pickup trucks due to a potential failure of the windshield wiper, which could reduce visibility and increase the risk of a crash, the U.S. National Highway Traffic Safety Administration (NHTSA) reported.

Additionally, Tesla is recalling 11,383 units of the Cybertruck because a trim in the trunk bed may have been improperly attached. This defect could cause the trim to become loose and create a road hazard for motorists driving behind these vehicles, according to a separate notice from the NHTSA.

Earlier this year, the company recalled nearly 4,000 Cybertrucks in April to fix an accelerator pedal pad that could come loose and get lodged in the interior trim, posing another safety risk.

These recalls mark the latest setbacks for the Cybertruck, a vehicle whose mass production is slated to begin next year. Despite starting deliveries in November 2023 after several years of delays, Tesla has yet to disclose the exact number of trucks handed over to consumers in its quarterly deliveries and production report. The Blade Runner-inspired truck faced a challenging production ramp-up, with CEO Elon Musk admitting that it felt like Tesla was digging its own “grave” during the process.

“Excessive electrical current can cause the front windshield wiper motor controller to fail,” the auto safety regulator said in a recall acknowledgement letter on Monday.

The Cybertruck’s journey from concept to consumer has been fraught with hurdles. Initially unveiled in 2019, the truck captured public imagination with its futuristic design and promised performance. However, translating this vision into a mass-produced vehicle proved to be a formidable challenge.

The delayed production ramp-up, coupled with ongoing recall issues, has cast a shadow over the Cybertruck’s market launch. Analysts suggest that these setbacks could impact consumer confidence and potentially affect Tesla’s market position in the competitive electric vehicle (EV) market.

Despite these challenges, the Cybertruck has garnered a significant fanbase. Enthusiasts remain hopeful that Tesla will address these issues promptly and deliver on its promise of a revolutionary electric pickup truck. Social media platforms are abuzz with discussions about the recalls, with many expressing their continued support for Tesla while urging the company to resolve the safety concerns swiftly.

Tesla’s ability to navigate these difficulties will be crucial in determining the long-term success of the Cybertruck. As the company prepares for mass production next year, all eyes will be on how effectively it can overcome these initial setbacks and meet the high expectations of its customers and the market at large.

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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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