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FG may merge CBN’s NIRSAL, Bank of Agric

The National Council on Privatization announced its contemplation of merging the Bank of Agriculture with the Central Bank of Nigeria’s NIRSAL Microfinance Ltd. Additionally, the council intends to infuse fresh capital into these institutions to revitalize them post-merger. These propositions stemmed from recommendations put forth by the NCP’s Committee on BOA, disclosed during a council […]

Tech

China launches brain chip company to challenge Musk’s Neuralink

A Chinese state-backed company revealed a brain chip bearing resemblance to technology pioneered by Elon Musk’s startup, Neuralink. Beijing Xinzhida Neurotechnology introduced a brain-computer interface implant named Neucyber, which has undergone testing on a primate. This implant enabled the monkey to manipulate a robotic arm using only its thoughts. The state-run Xinhua news agency reported […]

News

Africa’s growth slowed by $824bn resource-backed loan – AfDB

The President of the African Development Bank, Akinwumi Adesina, stated that Africa’s potential for future economic growth is being undermined by inefficient resource-backed loans which exacerbate debt resolution and compromise countries. This disclosure was made in a statement by Adesina at the Semafor Africa Summit, taking place on the sidelines of the International Monetary Fund […]

News

FIRS demands capacity building from commonwealth tax administrators

The President of the Commonwealth Association of Tax Administrators, and Chairman of the Federal Inland Revenue Service, Zacch Adedeji, has said that to enhance tax administration processes, there is a need for increased capacity building among its members. This was disclosed in a statement, by his Special Adviser on Media, Dare Adekanmbi, on Wednesday in […]

News

PZ to exit Africa amid plunge in revenue

PZ Cussons Plc has announced that it has started a strategic assessment of its business in Africa, with a view of exiting the continent, which is particularly attributed to economic challenges in Nigeria such as inflation and the devaluation of the naira, which has significantly impacted the company’s sales and operations, resulting in a 48 […]

Bankers oppose removal of retained earnings in CBN terms
News

CBN’s moves to stabilise naira commendable – Osun cleric

The aggressive policies introduced by the Governor of the Central Bank of Nigeria, Olayemi Cardoso, to stabilise the naira have been commended by the Diocesan Bishop of Ife, Rt Rev. Olubinmi Akinlade. This disclosure was made by Akinlade in a statement on Tuesday ahead of the first session of the 12th synod of the Diocese […]

US seeks three-year jail term for ex-Binance CEO
News

US seeks three-year jail term for ex-Binance CEO

The U.S. prosecutors are seeking a three-year prison sentence for Changpeng Zhao, the founder and former CEO of Binance, the world’s largest cryptocurrency exchange. This comes after Zhao pleaded guilty to violating laws against money laundering. Prosecutors argue that a longer sentence than the recommended 18 months would reflect the seriousness of his violations and […]

We're going nowhere, TikTok CEO reacts to US ban
News

We’re going nowhere, TikTok CEO reacts to US ban

TikTok’s CEO expressed confidence on Wednesday that the company would overcome a legal challenge against newly enacted legislation signed into law by President Joe Biden, which aims to ban the popular short video app used by 170 million Americans. In a video posted shortly after Biden signed the bill, CEO Shou Zi Chew reassured users, […]

FilmHouse co-founder Moses Babatope to launch new media company
News

FilmHouse co-founder Moses Babatope to launch new media company

Co-founder of Filmhouse Group and former Managing Director of FilmOne, Moses Babatope, is gearing up to unveil a new media and entertainment venture. The announcement of this venture was made in a statement on Wednesday. Addressing rumors of a non-compete agreement with his former companies, Babatope clarified that such claims were false. “There are rumors […]

News

NBTI generates over 22,000 direct employment opportunities – DG

The National Board for Technology Incubation has said it generated over 22,000 direct employment opportunities through its community incubation centers nationwide since its establishment in 2005. This was disclosed by the Director-General of NBTI Dr. Uchenna Chukwu in an interview in Abuja on Wednesday, according to nairametrics. Chukwu pointed out that through its community incubation […]

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