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…
Reps probes customs over smuggling, brutality, alleged complicity
The House of Representatives has resolved to investigate the Nigeria Customs Service operations, focusing on smuggling, alleged complicity, and incidents of brutality. The resolution follows a motion moved by Hon.…
VAT proceeds won’t be mismanaged, says Oyedele
The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, reassured Nigerians on Wednesday that VAT proceeds would not be mismanaged by sub-national governments. He clarified…
Nigeria’s money supply rises by 48% in October
Nigeria's broad money supply grew by 48.3% year-on-year, reaching N107.7 trillion in October 2024, up from N72.6 trillion in the same period of 2023. According to the Central Bank of…
Nigerian, Chinese firms to provide solar generators for 100m Nigerians
Winock Solar, a Nigerian sustainable energy provider, has partnered with Cola Solar, a Chinese clean energy company, to deliver affordable solar generators to 100 million Nigerians over the next five…
