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Chinese hackers target Trump, Vance's phones
News

Chinese hackers target Trump, Vance’s phones

Chinese hackers who infiltrated Verizon’s systems reportedly targeted the phones of United States Republican presidential candidate Donald Trump and his running mate, JD Vance, according to a report by the New York Times. In response, investigators are currently assessing what communications, if any, were compromised during the breach. The Trump campaign was informed this week […]

Dangote Refinery loses N32.5bn after petrol price cut
News

Dangote refinery boosts fuel supply with 79.4m litres delivered

Dangote Refinery has significantly enhanced Nigeria’s domestic fuel supply by delivering approximately 79.4 million litres of petrol by sea. The vessel Sabaek recently transported around 500,000 barrels (79.4 million litres) of petrol from the refinery to Lagos, as reported by port data and ship-tracking information from Bloomberg. This initial seaborne shipment comes after about a […]

Two Chinese charged for shipping US AI chips to China
featured

Nvidia surpasses Apple to become world’s most valuable company

Nvidia surpassed Apple as the world’s most valuable company on Friday, driven by soaring demand for its AI supercomputing chips. Nvidia’s stock market value reached $3.53 trillion, slightly ahead of Apple’s $3.52 trillion, according to LSEG data. This marks Nvidia’s return to the top, having briefly held the title in June before being overtaken by […]

News

Nigeria’s FX reserves rose to $45bn under my leadership – Obasanjo

Former Nigerian President, Olusegun Obasanjo, has shared insights on how he increased the country’s foreign reserves from a mere $3.7 billion to $45 billion during his eight-year presidency. In an interview with News Central aired on Thursday, Obasanjo revealed that he inherited a significant debt burden when he took office. At that time, Nigeria’s total […]

Ontario cancels $100m Starlink contract in US-Canada tariff war
featured News

Starlink suspends price increase for Nigerian subscribers

Starlink, the satellite internet service owned by Elon Musk’s SpaceX, has announced a suspension of its recent decision to raise monthly subscription fees for users in Nigeria. In a message to subscribers on Thursday, the company, which ranks as Nigeria’s third-largest internet service provider, indicated that the price hike would be on hold while it […]

News

Lagos extends amnesty for building permit compliance to Dec. 31

The Lagos State Government has announced an extension of the amnesty period for owners and developers of buildings lacking Planning Permits, now set to expire on December 31, 2024. Governor Babajide Sanwo-Olu made this disclosure at the recent Lagos Physical Planning Summit held at Eko Hotels and Suites via the official X account of Lagos […]

News

Debt servicing impedes Nigeria’s socioeconomic development – IMF

The International Monetary Fund has reported that Nigeria allocates a significant portion of its revenue to debt servicing, which limits available funds for essential development projects. During the Fiscal Monitor press briefing at the ongoing IMF/World Bank Annual Meetings in Washington, DC, the Division Chief of the IMF’s Fiscal Affairs Department, Davide Furceri, underscored the […]

featured

Old naira notes remain legal tender beyond 2024 – CBN

The Central Bank of Nigeria has addressed concerns regarding the old series of N200, N500, and N1000 banknotes, stating that they will not cease to be legal tender on December 31, 2024. This follows recent discussions at various forums suggesting that the CBN plans to withdraw the old banknotes by the end of December. In […]

News

NUPRC screens qualified oil block bidders for 2024 licensing

The Nigerian Upstream Petroleum Regulatory Commission has begun the technical screening of financially qualified bidders for the 2024 licensing bid rounds. At this stage, the commission will assess each company’s technical capacity to operate the oil blocks for which they have bid. According to the commission’s publication, a total of 31 oil blocks are available, […]

First Bank denies N550M fraud allegations, blames ex-employee, plaintiff
News

System migration won’t affect banking services – FirstBank

FirstBank has confirmed that its upcoming transition to a new cloud-based procurement and financial platform, set for Saturday, October 26, will not affect banking services for its customers. The bank, which serves over 42 million customers, previously noted that while the migration could lead to temporary service disruptions, these would specifically impact vendors rather than […]

Electricity

Discos may be liable for power transmission repairs

The Nigerian Electricity Regulatory Commission is considering making power distribution companies responsible for the costs associated with repairing faulty transformers and replacing transmission infrastructure. It stated that this initiative aims to promote better management and accountability within the Discos, according to The Punch. Meanwhile, the CEO of the Association of Power Generation Companies, Joy Ogaji […]

News

Binance executive Tigran Gambaryan leaves Nigeria after eight months detention

The Binance executive, Tigran Gambaryan, has reportedly departed Nigeria after several months of lawful detention. This was disclosed in a statement on Thursday, according to Nairametrics. Details regarding his departure and any potential implications for Binance have not been disclosed. “Today, American citizen Tigran Gambaryan left Nigeria to return home to his family after 8 […]

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