FG intervenes in gas supply crisis amid N2.7tn debt
Power generation in Nigeria reached a peak of 3,624.34 MW on Thursday after engineers from the Transmission Company of Nigeria restored the national grid, which had collapsed the previous day.…
FG threatens demolition of illegal structures on Lagos shoreline
The Federal Government has issued a warning to developers along the Lagos shoreline to regularize their projects or risk revocation and potential demolition. This disclosed in a statement by the…
Australia fines crypto operator Kraken $5.1m for unlawful credit facility
Australia's Federal Court has ordered Bit Trade, the local operator of cryptocurrency exchange Kraken, to pay an A$8 million ($5.1 million) fine for unlawfully offering a credit facility to more…
Elon Musk becomes first man to reach $400bn net worth
Tesla CEO Elon Musk’s net worth crossed $400 billion on Thursday, according to the Forbes real-time billionaires list, fueled by a 71% surge in Tesla’s shares this year and the…
Global efforts intensify to address submarine cable ruptures
In 2023, approximately 200 submarine cable failures were reported worldwide, according to data from the International Telecommunication Union. Around 80% of these disruptions were attributed to natural hazards or human-related…
Amazon delays Microsoft 365 rollout over security concerns
Amazon has delayed the deployment of Microsoft 365, the cloud-based Office suite, for a year due to security concerns. Although the two companies signed a deal last year to provide…
Banks suffer N42.33bn fraud losses in six months – Report
Banks in Nigeria have reported a significant N42.33bn in fraud-related losses during the first two quarters of 2024, with increases across various payment channels, excluding mobile fraud. Data from the…
OpenAI announces ChatGPT service recovery after hours-long outage
OpenAI announced in an early Thursday X post that its services, including ChatGPT, the Sora video generator, and its programming interface, were back online after several hours of downtime. ChatGPT's…
Dangote refinery begins petrol exports to Cameroon
The Dangote Petroleum Refinery and Neptune Oil have announced their first export of Premium Motor Spirit to Cameroon, marking a key milestone in regional energy integration and cooperation. In a…
Access Bank to acquire full stake in S’Africa’s Bidvest Bank
Access Holdings announced that its banking subsidiary, Access Bank Plc, has signed a binding agreement with South Africa's Bidvest Group Limited to acquire a 100% equity stake in Bidvest Bank…
Meta donates $1m to Trump’s inaugural fund
Meta Platforms Inc. donated $1 million to President-elect Donald Trump’s inaugural fund as part of an effort to foster a positive relationship with the administration after a history of tension.…
IEA warns of oil surplus in 2025 despite OPEC+ delay
The International Energy Agency has said that the global oil markets will face a glut next year, despite OPEC+'s decision last week to delay supply increases. The IEA predicted in…
