Blog

US SEC approves ETFs to track Bitcoin
News

Bitcoin mixer bags three years sentence for money laundery

Larry Harmon, the operator of the cryptocurrency mixing service Helix, was sentenced to three years in prison for his role in facilitating money laundering through the platform. Harmon, 41, pleaded guilty in 2021 to conspiracy to commit money laundering. Despite the plea deal being made in 2021, his sentencing occurred three years later, though no […]

News

Dangote Cement to raise new bonds

Dangote Cement PLC has announced plans to raise medium- to long-term debt funding from the domestic capital markets to enhance its financial structure and support ongoing operations. The company revealed this in a filing to the Nigerian Exchange on November 15, 2024, signed by its secretary, Edward Imoedemhe. The filing also confirmed that Dangote Cement […]

Netflix to roll out games for TVs, laptops
Tech

Mike Tyson, Jake Paul bout disrupt Netflix service

Netflix experienced a major outage affecting thousands of users in the US and India, coinciding with the Mike Tyson vs Jake Paul boxing match. Downdetector.com reported over 80,000 incidents of Netflix being unavailable in the US. The issue was later resolved, with the #Netflixcrash hashtag trending on X (formerly Twitter). The outage appeared widespread, with […]

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FG to rebase GDP, inflation data in 2025

The Nigerian government is planning to rebase its Consumer Price Index and Gross Domestic Product by 2025 to improve the accuracy of economic policies and strengthen investor confidence. This update was shared in a statement on the Ministry of Finance’s official X (formerly Twitter) account after a meeting between the Statistician General of the Federation, […]

Don, CITN advocate taxes for economic development
News

CITN moves to improve tax education

The Chartered Institute of Taxation of Nigeria has revised its tax education syllabus as part of efforts to enhance the quality of tax knowledge and practice in the country. In addition, the institute has transitioned to Computer-Based Examinations, a move aimed at improving the efficiency and professionalism of the examination process. This was disclosed recently […]

News

No plans to sack Kyari, says NNPCL

The Nigerian National Petroleum Company Limited has denied reports suggesting that the Group Chief Executive Officer, Mele Kyari, might be removed. NNPC spokesperson, Olufemi Soneye clarified in an interview on Friday that there are no plans to replace Kyari, despite rumours circulating after a recent shakeup within the company. An international newspaper had speculated that […]

News

Inflation hits 33.88% in October

Nigeria’s inflation rate surged to 33.88% in October 2024, up from 32.70% in September, according to the Consumer Price Index report released by the National Bureau of Statistics. This represents a month-on-month increase of 1.18 percentage points. On a year-on-year basis, the headline inflation rate in October 2024 was 6.55 percentage points higher than the […]

News

FG revises land compensation framework, pegs cocoa at N160,000/tree

The Federal Government, in collaboration with the World Bank, has revised its compensation framework for land acquisition, setting new compensation rates for mature trees in the North Central Zone. Under the revised framework, matured cocoa trees are valued at N160,000 per tree or N160 million per hectare, matured mango trees at N105,000 per tree or […]

US senators demand Meta probe over chatbot child safety concerns
Tech

Meta to appeal addiction lawsuits against Facebook, Instagram

Meta Platforms Inc. has announced its intention to appeal court rulings that allow multiple states and school districts to continue their lawsuits against the company, which accuse Facebook and Instagram of contributing to a youth mental health crisis. The tech giant filed notices to appeal to the US Ninth Circuit Court of Appeals after a […]

News

General Motors to sack 1,000 workers

General Motors Co. is set to cut around 1,000 salaried jobs globally as part of a strategy to streamline operations. The majority of the layoffs will impact North American staff, according to sources who spoke on the condition of anonymity. This marks the third time in 2024 that GM has reduced its salaried workforce, following […]

Samsung reports profit amid AI-driven chip demand
News

Samsung plans $7bn stock buyback

Samsung Electronics has announced a plan to buy back 10 trillion won ($7.2 billion) of its shares over the next year, marking one of the largest shareholder return programs in the company’s history. The repurchase will be carried out in stages, with the first phase involving the buyback of approximately 3 trillion won worth of […]

TikTok removes more Universal Music songs as conflict worsens
Tech

TikTok introduces AI video creation tool

TikTok, owned by ByteDance, has announced the global rollout of its Symphony Creative Studios, a generative AI-powered platform for video creation, now available to all advertisers. This move is part of TikTok’s strategy to strengthen its advertising offerings. The launch follows the introduction of Symphony, a creative content suite introduced at the TikTok World Product […]