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Ogun pays 564 pensioners gratuities
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Ogun pays 564 pensioners gratuities

The Chairman of the Local Government Pensioners Association of Nigeria, Ogun State, Benedict Ademoye, has stated that 564 local government pensioners have received gratuities from the state government. The Punch reported that the support the local government pensioners received from Governor Dapo Abiodun’s administration, according to Ademoye, wiped away their tears and decreased the rate at which the […]

Vehicle scarcity looms as sellers lament import difficulties
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Vehicle scarcity looms as sellers lament import difficulties

There are signs that the country may face a shortage of foreign-used automobiles, sometimes known as tokunbo autos, as sellers grumble about import difficulties. According to The Punch, auto dealers in Lagos on Monday attributed the most recent development to the high exchange rate, which had an impact on the duty rate among other things. The state […]

FG to create jobs with Elon Musk's Starlink - Minister
Business

FG to create jobs with Elon Musk’s Starlink – Minister

The Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani,  has stated that projects like a Starlink-certified installer/maintenance program and partnerships with hardware entrepreneurs to manufacture repeater boxes locally have the potential to generate thousands of jobs. The Punch reported that the minister said on X (formerly Twitter) that he discussed it with the Senior Director of Global Licencing […]

Nigerian publisher Okadabooks shuts down
News Tech

Nigerian publisher Okadabooks shuts down

Nigeria’s pioneer digital publishing and bookselling platform, Okada Books, announced a shutdown on November 30, 2023, citing rough macroeconomic conditions as the reason for the action. “We explored various avenues to keep our virtual bookshelves alive but, unfortunately, the challenges we face are insurmountable,” the company’s CEO, Okechukwu Ofili, said in a statement shared on […]

OpenAI staff threaten resignation over Altman’s sack
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OpenAI staff threaten resignation over Altman’s sack

Staff of the AI company OpenAI’s has threatened to quit and join former boss Sam Altman at Microsoft’s new division if the board does not reinstate Altman. In response to the company’s recent decision to fire Sam Altman, the majority of OpenAI’s 700 employees have given the board an ultimatum, threatening to quit unless they […]

OpenAI, Elon Musk agree to quicken trial over AI dispute
Business

Microsoft hires sacked OpenAI co-founder Sam Altman

Microsoft has announced that the co-founders of the ChatGPT startup, OpenAI, who were fired, have joined Microsoft. The Times reported that the CEO of Microsoft, Satya Nadella, declared on Monday that the company would be taking in the two OpenAI management teams as well as the colleagues who left the AI startup to protest Altman’s dismissal. […]

Equities market investors lose N481bn as glory trend continues
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CBN postpones MPC meeting

Juliet Buna The Central Bank of Nigeria has postponed the Monetary Policy Committee meeting yet again after the same was done in September. According to Nairametrics, this development indicates that the new Governor of the CBN, Mr Olayemi Cardoso, has yet to hold the crucial rates-setting meeting since he took over the post. The central […]

AfDB, ECOWAS sign $12m agreement to boost Rice production
Banking

How AfDB invested over $10bn in Nigeria 52 years

The African Development Bank Group has spent more than $10 billion in Nigeria since 1971. According to The Punch, the development bank revealed this information in a statement to promote collaboration and unleash the enormous agricultural potential of the country during the visit of the seven recently elected governors of North West states. The AfDB claimed that […]

FG bags $2.2bn Sun Africa deal to develop power sector
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FG bags $2.2bn Sun Africa deal to develop power sector

  By Wilson Adekumola The Federal Ministry of Power has disclosed that Sun Africa LCC has promised $2.2 billion to develop Nigeria’s power sector. Minister of Power, Adebayo Adelabu disclosed this in a statement issued in Abuja on Sunday after a meeting with representatives of Sun Africa, led by its Chairman, Goran Rajsic. The statement […]

OpenAI CEI denies sister's rape allegations, calls claims untrue
News Tech

Sam Altman not returning to OpenAI – interim CEO Shear

Sam Altman will not be returning to his role as CEO of OpenAI, Emmett Shear, the former head of Twitch, who took on the role of interim CEO said in a statement sent by board director Ilya Sutskever to the company’s employees, The Information reported. Shear left the live video streaming service owned by Amazon […]

Nigerian fintech Zazuu shuts down over lack of finance
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Nigerian fintech Zazuu shuts down over lack of finance

An Africa-focused fintech, Zazuu, has formally stated that it is closing. The Punch reported that the company, which described itself as the first cross-border payment platform in history, stated that the main cause of its closure was its inability to close an expansion capital round. Despite these novel features, it struggled to maintain operations without the […]

Investors make N182bn in one week
Business

Investors make N182bn in one week

Investors have had a week of favourable trading days as there has been a gain of N182 billion in the market capitalization of the Nigerian Exchange Limited. The Punch reported market capitalization at Friday’s close was N39.107 trillion, and the All-Share Index gained 264 basis points to complete the week at 71,112.99. The NGX ASeM index […]

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