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Seplat’s revenue hits $1bn in 2023

Seplat Energy Plc, an energy coy listed on both the Nigerian Exchange Limited and the London Stock Exchange has revealed an increase of 11.5 per cent revenue to $1,061.3 million, crossing the $1.0 billion mark for the first time. This was disclosed at its 11th Annual General Meeting held virtually on Thursday, according to Daily […]

News

Multiple tax threatening participation in AfCFTA – MAN

The Manufacturers Association of Nigeria has said that multiple taxation is exerting influence on the operations of manufacturers in the country and their participation in the African Continental Free Trade Area agreement. This was disclosed by the Director General of MAN, Segun Ajayi-Kadir, at the closing of the 26th Annual Tax Conference of the Chartered […]

Reddit launches AI-powered feature to compete with search engines
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Reddit partners OpenAI to add data in platform

Reddit has forged a partnership with OpenAI to incorporate its content into ChatGPT, a widely utilized chatbot. The collaboration was announced through a joint statement on Thursday, prompting a 12% surge in Reddit’s shares during extended trading, as reported by Reuters. This strategic partnership signifies Reddit’s commitment to diversifying its revenue streams beyond its primary […]

Business

Nigeria-Taiwan trade shrinks by $500m – Envoy

The Chief of Mission to the Taiwanese Government in Nigeria, Andy Liu, has said that the value of trade between Nigeria and Taiwan has dwindled to $500m in 2023, from $1bn in 2021. This was disclosed by Liu recently in Lagos while speaking at the 2024 Taiwan Business Forum in Nigeria, according to the Punch. […]

News

NUPENG, PENGASSAN calls for reversal of helicopter landing fee

Petroleum workers, under the aegis of the Nigerian Union of Petroleum and Natural Gas Workers and Nigeria’s Senior Oil Staff Association, have called for a lifting of the new landing fee imposed on helicopter operators. This was disclosed in a joint statement by the General Secretary of NUPENG, Afolabi Olawale, and PENGASSAN’s General Secretary, Lumumba […]

Flutterwave, has laid off half of its workforce in Kenya and South Africa as part of a broader cost-cutting strategy
News

Flutterwave loses N11bn to security breach

Financial technology company, Flutterwave, has reported a significant security breach resulting in the unauthorized transfer of ₦11 billion ($7 million) to multiple bank accounts. This incident follows closely on the heels of the company’s efforts to recover $24 million lost to unauthorized point-of-sale (POS) transactions, for which it secured a court order just a month […]

Microsoft proposes relocation of Chinese staff over US-China tensions
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Microsoft proposes relocation of Chinese staff over US-China tensions

Microsoft has proposed to some of its employees based in China to think about moving to other countries, the company announced on Thursday. This comes as tensions between the United States and China continue to rise, particularly concerning technologies such as artificial intelligence and semiconductors. According to The Wall Street Journal, which broke the story, […]

Top 10 African countries with most airlines in 2024
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Top 10 African countries with most airlines in 2024

Airlines across the continent encompass a spectrum, from established legacy carriers with global reach to agile regional operators catering to specific markets. Ethiopian Airlines, EgyptAir, South African Airways, Kenya Airways, and Royal Air Maroc rank among the continent’s prominent airlines. According to data from Planespotters, Nigeria leads the continent with the highest number of airlines, […]

Nigeria-UAE flights to resume soon – Keyamo
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Nigeria-UAE flights to resume soon – Keyamo

The Minister of Aviation and Aerospace Development, Festus Keyamo, on Thursday, revealed that flights between Nigeria and the United Arab Emirates will recommence soon. He made this announcement following a meeting with UAE Ambassador Salem Saeed Al-Shamsi in Abuja. Keyamo mentioned that the ambassador presented official communication from Emirates Airline, indicating a scheduled date for […]

Toshiba to lay off 4,000 staff in restructuring move
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Toshiba to lay off 4,000 staff in restructuring move

Japan’s Toshiba On Thursday, announced plans to reduce its domestic workforce by up to 4,000 positions as part of its accelerated restructuring efforts under new ownership. The industrial conglomerate had been delisted in December following a $13 billion takeover by a consortium led by private equity firm Japan Industrial Partners, marking the culmination of a […]

Flutterwave emerges CNBC’s 14th disruptor
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Flutterwave emerges CNBC’s 14th disruptor

Flutterwave has ranked the 14th in the CNBC’s Disruptor’s list, joining the ranks of OpenAI, Stripe, and Monzo. CEO Olugbenga “GB” Agboola established Flutterwave in 2016, with its headquarters situated in Lagos, Nigeria. The company has amassed $475 million in funding from notable entities like Tiger Global Management and Salesforce Ventures, boasting a current valuation […]

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