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Iran sets conditions for reopening Strait of Hormuz

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SERAP urges Tinubu, Atiku, Obi, others to publish assets

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Taraba owes ₦85.51bn not ₦1.2tn, commissioner cites official DMO

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OpenAI President Greg Brockman resigns
News Tech

OpenAI President Greg Brockman resigns

OpenAI President and co-founder Greg Brockman on Friday announced he is resigning hours after the company’s CEO Sam Altman was removed by the board. “I’m super proud of what we’ve all built together since starting in my apartment 8 years ago,” Brockman wrote in response to a post from Altman that addressed his departure. “We’ve […]

MPC to raise interest rates on Monday despite high inflation - Analysts
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MPC to raise lending rate by 100bps – Report

There are signs that the Central Bank of Nigeria’s Monetary Policy Committee may raise its Monetary Policy Rate (interest rate) by 100 basis points this week. According to The Punch, the MPC is scheduled to meet on November 20 and 21, having postponed its September policy meeting due to the appointment of the new CBN governor. […]

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

Sam Altman fired as OpenAI CEO

Sam Altman has been fired as CEO of OpenAI, the company announced on Friday citing the lack of confidence in his ability to lead the company “Mr. Altman’s departure follows a deliberative review process by the board, which concluded that he was not consistently candid in his communications with the board, hindering its ability to […]

Meta introduces message summaries to WhatsApp
News Tech

Meta add AI-powered bot to WhatsApp

Meta CEO, Mark Zuckerberg has moved to add Meta AI to WhatsApp after an announcement in September to integrate AI-powered chatbot to the messaging platform. Discovered by WABetaInfo, a little button inside WhatsApp that enables users to instantly start the AI chat with a single push. The green “Start a New Chat” icon is positioned […]

Amazon to unveil AI-powered Alexa upgrade in February
News Tech

Amazon announces job cuts in Alexa unit

Amazon on Friday announced the company is cutting jobs at its Alexa voice assistant unit, citing “shifting” business priorities and shifting focus to generative artificial intelligence. The job cuts will impact “several hundred” employees working on Alexa, Reuters reported. “We’re shifting some of our efforts to better align with our business priorities, and what we […]

Alibaba, RedNote partner to streamline app shopping on Taobao
News Tech

Alibaba loses $21bn market value after cloud project reversal

The market value worth $21bn of Alibaba Group was on Friday wiped out by investors after the company abandoned plans to spin off its cloud division. The company cited concerns about U.S. restrictions on chip exports to China for artificial intelligence applications. The 10% closing decline in Alibaba Group’s Hong Kong shares was the company’s […]

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FG to implement online biometric passport issuance system 2024

The federal government has revealed its plan to digitize the passport application process by implementing a full biometric system for passport application and collection by February 2024. The Times reported that this revelation was made by Interior Minister, Olubunmi Tunji-Ojo, in a statement at the recently concluded sixth Nigeria Diaspora Investment Summit, which was hosted by Nigerians in […]

How increased electricity access will drive investment - Seplat
Oil and Gas

Seplat to construct $250m gas plant in Delta

Seplat PLC’s Director of New Energy, Mr. Effiong Okon, has revealed the company’s intentions to construct a new $250 million gas plant in Sapele, Delta state, as part of its continuous investment in the oil and gas industry’s downstream sector. According to The Times, Mr Effiong revealed this in the Nigeria Oil and Gas Outlook event […]

Customs partners EU to streamline trade, documentation
Business

EU readies €24.4m to tackle W’Africa’s illegal weapons spread – Official

The European Union has set aside €24.4 million to improve cross-border collaboration in West Africa and combat the issue of illicit trafficking in small arms and light weapons. According to The Times, this information was revealed during a roundtable discussion on small arms and light weapons control in Nigeria held on Thursday in Abuja by the […]

Business

Nigeria has untapped logistics industry worth N3trn — Logistics expert

The country’s estimated N3tn logistics, courier, and transport industry has not yet reached its full potential, according to the Executive Chairman of the Courier and Logistics Management Institute, Professor Simon Emeje. The Punch stated that the announcement of the Courier and Logistics Management Institute International Conference and Investiture 2023, which is set for November 23, in Lagos, […]

Italy ready to invest in Africa’s energy sector - Eni
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Nigeria drops $1bn lawsuit against oil company Eni

The Federal Government has ended a protracted legal battle in Italian courts over accusations of corruption in an oil field sale by finalizing arrangements to abandon civil proceedings against Eni SpA totaling $1.1 billion. According to a letter reviewed by Bloomberg, the Ministry of Justice will, no later than November 17, waive the claims before […]

Energy

Investors shift from fintech to energy in Africa — Economic analyst

An economic and industrial analytics consultancy, Stears, has stated that investors are paying less attention to African fintech startups as their investment focus shifts to energy. According to The Times, this was said by the co-founder and COO of Stears, Abdul Abdulrahim, during his keynote address at the recent IATF 2023 conference in Cairo. Analyzing the investment […]

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