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S'Africa's billionaire Johann Rupert drops $1.8bn in net worth
News

S’Africa’s billionaire Johann Rupert drops $1.8bn in net worth

The richest person in South Africa, Johann Rupert, saw a substantial decline, totaling $1.8 billion in his net worth in 2023. According to Forbes, Johann Rupert’s net worth was estimated to be $11.1 billion at the beginning of the year. His net worth has dropped significantly over the years, from $1.8 billion to $9.3 billion. The performance […]

Kaduna customs hits N16.3bn revenue in 2023
News

Customs service revenue surges 66.5% in four months

The Nigerian Customs Service has said that, in the four months from July to October 2023, revenue collection increased by an amazing 66.5%. The Times reported that the statement was made on Wednesday in Abuja at a national workshop on legislative compliance with the topic “The imperatives of legislative compliance in deepening democracy and good governance,” […]

eTranzact’s revenue rises by 88% in Q3 2023
Business

eTranzact’s revenue rises by 88% in Q3 2023

eTranzact International Plc recorded revenue of N8.3 billion in Q3 2023, an increase of 88.2% year on year from the same quarter in 2022. The Times reported that the company’s Q3 2023 revenue contributed to the nine months’ revenue of N25.7 billion, indicating a year-over-year appreciation of 60.2% from the corresponding period in 2022, according to the financial […]

Tinubu signs seven bilateral agreements with Qatar
News

Tinubu approves N2.17trn 2023 supplementary budget

President Bola Tinubu has approved the N2.17 trillion 2023 supplemental budget. According to The Times, the budget was swiftly approved by the Senate and House of Representatives last week, and the president then signed it. The National Assembly adopted the plan, and it is now essentially a law, enabling the federal government to distribute the […]

Nigerian Exchange ahead in Africa with 33.70% gain
Economy

Naira falls further to N1,080 against dollar

The naira continued to fall against the dollar on Tuesday, dropping to N1,080/$ in the parallel market. This represents a 4.85% decrease from the N1, 030/$ it traded on Monday. Additionally, it is the second day that the naira is losing ground after experiencing a surge at the end of last week following reports that the […]

Amazon cuts jobs in books division amid broader efficiency push
News Tech

Amazon spends millions to train AI model ‘Olympus’

Amazon is spending millions on training an ambitious large language model in the hopes of competing with elite models like OpenAI and Alphabet, Reuters reported. With two trillion parameters, the model, code-named “Olympus,” may rank among the largest models being trained. One of the greatest models currently available, OpenAI’s GPT-4 model, is said to have […]

TikTok reassigns senior executive team
News Tech

ByteDance to pay $160 for employee shares

Chinese ByteDance, the parent company of TikTok, has disclosed that the company is willing to pay $160 per share to employees who work for it outside of the US. In October, the company made an offer to present and former U.S. employees and the price per restricted stock unit is in accordance with that offer. […]

BPP boss promotes procurement process enforcement
Business

BPP boss promotes procurement process enforcement

The Director General of the Bureau of Public Procurement, Mamma Ahmadu, has urged participants in the 2023 Continuous Procurement Capacity Development Training Program to always maintain honesty and transparency in their procurement operations. The Punch reported that this came about following a three-week strategic capacity training program for procurement officials, according to a statement released by the Bureau of […]

Davodani MfB commits to funding SMEs
Business

Davodani MfB commits to funding SMEs

The DavoDani Microfinance Bank has reaffirmed its dedication to provide Small and Medium-Sized Enterprises with funding to help them expand their operations. According to The Punch, this was stated at the 11th branch of DavoDani MfB’s opening ceremony in Ajah, Lagos, by the bank’s founder and chairman of the board of directors, Mr. Austin Enajemo-Isire. […]

India, Pakistan, others to attend Kano trade fair - KACCIMA
News

India, Pakistan, others to attend Kano trade fair – KACCIMA

A total of 250 companies from within and beyond Nigeria are expected to attend the 44th edition of the Kano International Trade Fair, which will take place from November 25th to December 9th, 2023. According to The Punch, the President of the Kano Chamber of Commerce, Industry, Mines and Agriculture, Alhaji Garba Imam, revealed the information on […]

NNPC, First E&P provide free healthcare in host communities
featured

NNPCL launches new crude grade, ships 1.9m/b in October

The Nigerian National Petroleum Company Limited announced on Tuesday that it has introduced a new crude oil grade called “Nembe” and that two 950,000 barrels of its maiden shipment had been sent in October. The Punch reported that the first cargoes of the new grade were sold to France and the Netherlands, according to a […]

NEPC, GIZ promote production in agricultural sector
Agribusiness

NEPC, GIZ promote production in agricultural sector

The Nigerian Export Promotion Council and GIZ MOVE have teamed up to boost productivity in the cashew and rice value chains. According to The Punch, NEPC stated in a release that the partnership’s goal was to involve important players in the rice and cashew value chains. The NEPC/GIZ program, according to NEPC Chief Executive Officer, Mrs. […]

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