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Meta plans fourth AI overhaul in six months
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Dutch agency warns govt against use of Facebook

The Dutch data protection authority, AP, issued a recommendation on Friday urging government organizations to cease their use of Facebook until clarity is provided regarding the handling of users’ personal data on government pages. AP Chairman Aleid Wolfsen emphasized the importance of ensuring trust and security for individuals who engage with government pages on the […]

Pornhub, XVideos, Stripchat to face stricter EU rules
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Pornhub, XVideos, Stripchat to face stricter EU rules

Adult content giants Pornhub, Stripchat, and XVideos must undertake risk assessment evaluations and implement measures to mitigate systemic risks associated with their services to adhere to new EU regulations on online content. These companies, classified as very large online platforms last December under the Digital Services Act, are mandated to intensify efforts to remove illegal […]

Meta cuts prices for VR headset second time in 2024
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Meta cuts prices for VR headset second time in 2024

Meta has slashed the price of its Quest 2 VR headset for the second time this year, marking a permanent reduction. The base model, boasting 128GB of storage, now retails at $199, down from its previous price of $249. Prior to January 2, the headset was priced at $299. This price adjustment coincides with Meta’s […]

Dangote Refinery loses N32.5bn after petrol price cut
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High sulphur diesel behind Dangote price slash – S&P Global

Dangote refinery recently announced a price reduction of automotive gas oil to N1,000 per litre. This is attributed to a less quality control checks, S&P findings reveal. In the report, high-sulphur diesel from the refinery contributed to the price reduction, contrasting with the environmentally preferable low-sulphur diesel, according to Businessday. The report reveals that the […]

Apple to pledge $100bn to US manufacturing
News

Apple removes WhatsApp, Threads from China app store

Apple announced on Friday that it had complied with a directive from the Chinese government to remove Meta’s WhatsApp and Threads from its App Store in China, citing national security concerns. While other Meta apps such as Facebook, Instagram, and Messenger remained accessible, WhatsApp and Threads were taken down. Reuters confirmed this during a check […]

Business

Banks should seek public offers, special placements for funds – Stockbrokers

The Chartered Institute of Stockbrokers has called on Nigerian banks to look beyond rights issues as the sole method of fundraising as banks grapple to raise over N4 trillion in fresh capital to meet new regulatory requirements. This was disclosed by the CIS President, Oluwole Adeosun at the Nigeria’s Association of Capital Market Academics symposium […]

Tinubu orders NNPC to sell Crude to Dangote in Naira
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FG to criminalise fiber cable damage – Report

Nigeria is initiating a move to criminalise the destruction of broadband fiber cables in response to ongoing grievances from major telecommunications companies. It is reported that the Works Ministry, responsible for overseeing federal road constructors, is in the final stages of drafting regulations, according to Bloomberg. It is expected that these regulations will be signed […]

News

Sound valuation system key to achieving $1 trillion economy -FRC

The Executive Secretary/Chief Executive of the Financial Reporting Council of Nigeria, Dr. Rabiu Olowo, said that the key to achieving this Administration’s goal of a $1 trillion economy by 2026 still lies in a sound valuation system. This was disclosed during a courtesy visit by the CEO of the International Valuation Standard Council, Nicholas Talbot, […]

NERC makes N5.63bn in 2023 Q3
News

FG needs N3.2trn to reverse electricity tariff hike – NERC

The Federal Government of Nigeria will need to come up with the sum of N3.2trn in 2024 to reverse the recent hike in electricity tariff. This disclosure was made by the Chairman of the Nigeria Electricity Regulatory Commission, Sanusi Garba in Abuja at a stakeholders meeting convened by the House of Representatives Committee on Power, […]

New SEC regulation to enhance transparency in bank recapitalization
Business

SEC seeks end to illicit funds in banking recapitalisation

The Securities and Exchange Commission has affirmed its stance against the inflow of illegal funds into the capital market through the fresh banking recapitalisation exercise. This disclosure was made by the Executive Director (Operations) of the commission, Dayo Obisan, on Thursday at a symposium organised by the Association of Capital Market Academics of Nigeria, with […]

News

N7.3tn remitted to Federation Account in H2 2023 – RMAFC

The Revenue Mobilization Allocation and Fiscal Commission has revealed that a total sum of N7.3tn was paid into the Federation Account between July and December 2023. This disclosure was made in a press statement signed by the RMAFC Chairman, Mr Mohammed Bello Shehu on Thursday in Abuja, according to The Punch. This disclosure shows that […]

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