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AFAN raises alarm over imminent hunger crisis

Farmers under the All Farmers Association of Nigeria have raised alarms about a potential hunger crisis looming across the country. They are calling for urgent government intervention to address the situation and prevent widespread food shortages. In a statement on Monday, the National President of AFAN, Kabir Ibrahim stated that food inflation and significant pressures […]

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Nigeria’s crude oil production losses hit 362.28m barrels – NEITI

A recent report by the Nigeria Extractive Industries Transparency Initiative highlights significant losses in Nigeria’s oil production, totaling 362.28 million barrels from 2014 to 2023. These losses are attributed to factors such as measurement errors, sabotage, and production adjustments. This loss translates to approximately 992,547 barrels of crude oil per day over the span of […]

US court dismisses lawsuit against eBay over environmental violations
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US court dismisses lawsuit against eBay over environmental violations

A federal judge in Brooklyn on Monday dismissed a U.S. government lawsuit accusing eBay of violating the Clean Air Act and other environmental laws by permitting the sale of harmful products on its platform. The case, brought by the U.S. Department of Justice, alleged that eBay allowed the sale of devices that bypass automobile pollution […]

Epic Games accuses Google, Samsung of anti-competitive practices
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Epic Games accuses Google, Samsung of anti-competitive practices

Epic Games, the creator of the popular video game “Fortnite,” filed a lawsuit on Monday accusing Alphabet’s Google and Samsung of conspiring to protect Google’s Play Store from competition, violating U.S. antitrust laws. The lawsuit was filed in a U.S. federal court in California and alleged that Samsung’s mobile security feature, Auto Blocker, was designed […]

Australia fines Google $36m over anticompetitive search engine deals
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Russia fines Google, Discord for failing to delete certain content

A Russian court on Monday fined tech giant Google and messaging platform Discord for not complying with Russia’s demands to delete or restrict access to certain online content. The fines were issued by the Tagansky District Court, which penalized both companies 3.5 million roubles ($37,675) each. Google was fined for failing to remove content that […]

Japanese SoftBank to invest $500m in OpenAI's latest funding round
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Japanese SoftBank to invest $500m in OpenAI’s latest funding round

Japanese telecom giant SoftBank’s Vision Fund is set to invest $500 million in OpenAI’s latest funding round, according to a report by The Information on Monday. This investment marks SoftBank’s first involvement with the artificial intelligence firm led by Sam Altman, signaling a significant move in the rapidly growing AI sector. Earlier this month, it […]

Google unveils next Gen tools for retailers
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Google to invest $1bn to boost cloud infrastructure in Thailand

Google announced on Monday that it will invest 36 billion Thai baht, or approximately $1 billion, to establish a new data center and expand cloud infrastructure in Thailand. This investment represents a significant ramp-up of Google’s operations in Asia and underscores the company’s commitment to integrating artificial intelligence into its global strategy. This was disclosed […]

NITDA to develop blockchain "Nigerium" for data Security
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NITDA warns Nigerian WordPress users about critical LiteSpeed Cache vulnerability

The National Information Technology Development Agency has issued a critical security alert regarding a newly identified vulnerability, CVE-2024-28000, which impacts over 5 million websites worldwide. This vulnerability affects the LiteSpeed Cache plugin for WordPress, a widely used tool for optimizing website performance, potentially allowing attackers to gain full control of compromised sites, according to Nairametrics. […]

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We’ve invested over $25bn in Nigeria’s oil, cement, sugar – Dangote

The Chairman of Dangote Group, Aliko Dangote, has stated that that his business conglomerates have invested over $25 billion in Nigeria over the past seven years. This investment spans various sectors, including oil and gas, cement, and sugar. Dangote made this disclosure while speaking on the sidelines of the recently concluded 79th United Nations General […]

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UBA posts N401.5bn in half year pre-tax profits

United Bank for Africa has announced its 2024 half-year earnings, declaring a pre-tax profit of N401.5 billion, slightly down from N403.6 billion reported in the same period last year. The bank’s strong profit performance was supported by a substantial net interest income of N614.4 billion after impairments, representing a remarkable 395% increase from N124.1 billion […]

AfDB President Adesina criticizes border opening for food imports
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Adesina outlines key recommendations for strengthening African economies at UNGA

The African Development Bank President, Akinwunmi Adesina has outlined several recommendations for the international community to support the economic growth of African nations. He emphasized the importance of increasing investments in infrastructure, promoting trade partnerships, and enhancing access to financing. Adesina also highlighted the need for technology transfer and capacity building to empower local industries […]

Onne customs reports N643bn revenue for 2024
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Exchange rate for customs duties drops to N1,637/$

The exchange rate for customs duties collection has decreased to N1,637 per USD, down from N1,666 per USD recorded last week. According to the customs exchange rate portal, the foreign exchange rate for customs duties collection has steadily increased from N1,564 per USD at the beginning of September to the current rate of N1,637 per […]

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