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NUPRC explores crude swap deals to cut costs

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How to access FG’s ₦5m grant for young entrepreneurs

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OpenAI mulls $500bn valuation in employee share sale talks
Tech

OpenAI appoints new board members in March

OpenAI, the creator of ChatGPT, is set to appoint several new board members in March, bringing an end to an impasse that began when the former board ousted CEO Sam Altman in November. Despite Altman’s quick return and the introduction of a new initial board chaired by former Salesforce co-CEO Bret Taylor, the company has […]

Manufacturers warn price hikes to persist without solutions
Business

Manufacturers warn price hikes to persist without solutions

Manufacturers Association of Nigeria says product price increases are unlikely to halt in the absence of a corresponding plan to reduce the skyrocketing costs of manufacturing. This was said by the association’s director-general, Segun Ajayi-Kadir, during a recent media debate with reporters according to The PUNCH. The MAN DG bemoaned the regular increases in the […]

Lafarge Africa shareholders to receive $30bn dividend
Business

Lafarge Africa shareholders to receive $30bn dividend

By Melvin Onwubuke The Board of Directors of Lafarge Africa has put forward a dividend of N1.90 per unit of its shares for the year ended December 2023 adding up to N30.60 billion; lowered when compared to the preceding year of N32.22 billion. This follows a corporate notice filed with the Nigerian Exchange Limited on […]

International investors remain cautious as Cardoso seeks cash infusions - Report
Business

Focus on factors causing inflation, LCCI tells CBN

By Melvin Onwubuke The Lagos Chamber of Commerce and Industry has urged the Central Bank of Nigeria, to pay particular attention to factors contributing to the surge in inflation, in its monetary policy decisions. This follows the statement signed by it’s Director-General. The LCCI said, the decision by the apex bank to increase the benchmark […]

FG begins construction of 700km Lagos-Calabar highway
Oil and Gas

FG clears $120m gas debt as blackout persists

By Melvin Onwubuke The Federal Government has paid $120 million, from the $1.3 billion debt to gas companies, for supply to run gas-powered plants across the nation. This was disclosed by Ed Ubong, The Director, Decade of Gas Secretariat, during the ongoing 7th Nigeria International Energy Summit in Abuja on Thursday. Ubong expressed his delight, […]

FG's 10-man panel to investigate airlines over fare hike
News

FG’s 10-man panel to investigate airlines over fare hike

The Nigeria Civil Aviation Authority’s CEO, Chris Najomo, has appointed a 10-member committee to investigate international airlines over their exorbitant charges in an effort to lower the cost of air travel for Nigerians. The PUNCH stated that, this was revealed in a news release sent to media on Thursday and signed by NCAA Director-General Chris […]

NDIC reimburses depositors of 179 disolved banks
Banking

NDIC reimburses depositors of 179 disolved banks

The Nigeria Insurance Corporation stated that depositors of four mortgage banks and 179 resting microfinance institutions nationwide have received their money back. According to The PUNCH, this was said on Thursday during the 45th Kaduna International Trade Fair at the NDIC Special Day, which was presided over by the organization’s managing director, Dr. Bello Hassan. […]

Jailed FTX boss gives prisoners crypto investment tips
Crypto

Jailed FTX boss gives prisoners crypto investment tips

Former CEO of the now bankrupt FTX, Bankman-Fried is reportedly offering cryptocurrency investment advice, promoting investments in the cryptocurrency Solana, to prison guards, as reported by The Times. Since August, Bankman-Fried has been incarcerated at Brooklyn’s Metropolitan Detention Center, known for its subpar living conditions. Bankman-Fried faces challenges beyond hygiene concerns in prison. Inmates lack […]

Osun resubmits state's nomination for bank role, challenges CBN’s rejection
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FX debt: CBN owes just five banks, says Cardoso

With the exception of five banks, foreign exchange backlogs have been resolved, according to Olayemi Cardoso, Governor of the Central Bank of Nigeria. According to The PUNCH, Cardoso made this announcement on Thursday during an investor call that was organized by the Nigerian Exchange Group. He also promised to resolve the remaining foreign exchange backlogs […]

FG to reveal outcome of Binance probe soon - NSA
News

FG to reveal outcome of Binance probe soon – NSA

Melvin Onwubuke The Office of the National Security Adviser has announced that the Federal Government is investigating the activities of Binance, a cryptocurrency exchange platform. Two executives of Binance, were reportedly arrested by agents of the Nigerian Government. The National Communication Commission, in efforts to curb the constant manipulation of the forex market and illegal […]

Gaming platform Electronic Arts lays off staff
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Gaming platform Electronic Arts lays off staff

Electronic Arts on Wednesday announced its intention to trim 5% of its workforce as part of a comprehensive restructuring plan, which will also involve downsizing its real estate holdings. The gaming giant, recognized for titles like “Star Wars Jedi: Survivor,” anticipates facing charges ranging from $125 million to $165 million associated with this strategic move. […]

Australia fines Google $36m over anticompetitive search engine deals
Tech

European media groups sue Google for $2.3bn

Axel Springer, Schibsted, and 32 media groups have hit Alphabet’s Google with a 2.1-billion-euro ($2.3 billion) lawsuit alleging losses incurred due to the company’s practices in digital advertising. The group, comprising publishers from various European countries, claimed that Google’s misconduct resulted in a less competitive market, leading to financial losses for media companies. Their lawyers, […]

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