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CBN clears $64.44m forex backlog for airlines
Business News

CBN appoints new CEOs, MD for Union, Keystone, others

Following the Wednesday dissolution of the former board members, the Central Bank of Nigeria has appointed new board members for Union Bank, Keystone Bank, and Polaris Banks. The Central Bank of Nigeria attributed the dissolution to corporate governance shortcomings and regulatory non-compliance. Additionally, the apex bank admitted to engaging in acts that put its financial […]

Kia, Uber partner to produce modular electric vehicles
Transportation

Kia, Uber partner to produce modular electric vehicles

Kia has reached a contract with Uber to develop its recently disclosed modular electric cars for ride-hailing at the Consumer Electronics Show in Las Vegas. Kia’s PBV, which stands for Platform Beyond Vehicle, was presented earlier this week at the event. According to the manufacturer, its PBV concept is based on a specific business system […]

Google signs $3bn US hydropower deal amid AI energy race
News Tech

Google lays off engineering workers

Google on Wednesday announced the layoff of hundreds of workers from a variety of departments, including services and engineering. The divisions that are impacted include the Devices and Services PA team, which oversees Pixel, Nest, and Fitbit hardware, and the voice-activated Google Assistant, which is a part of the knowledge and information product team restructure. […]

Amazon Prime Video lays off workers
News Tech

Amazon Prime Video lays off workers

Days after Twitch laid off workers, Amazon is cutting back on Prime Video and MGM Studios, laying off “several hundreds” of workers, according to The Information. By the end of this week, Amazon will have notified most other locations and has started notifying the impacted workers in the United States. Packages comprising separation money, transitional […]

Uganda to destroy $7.3m worth of expired Covid vaccines
News

Uganda to destroy $7.3m worth of expired Covid vaccines

An audit report has revealed that Covid vaccinations worth 28.1 billion Ugandan shillings ($7.3 million; £5.8 million) are due to be withdrawn from health facilities and destroyed. According to the report, the Ugandan government obtained around 5.6 million doses of these COVID-19 vaccines through a World Bank loan. The report submitted to parliament on Tuesday by Uganda’s Auditor General, […]

Mobile users spent $171bn on apps in 2023 - Report
Business

Mobile users spent $171bn on apps in 2023 – Report

Mobile users worldwide spent $171 billion in China through third-party Android app shops, Google Play, and the App Store in 2023. This was disclosed in data.ai’s newest State of Mobile 2024 study. When compared to 2022, 2023 spending reflects a 3% rise. Last year, however, app downloads climbed by only 1% to 257 billion. According […]

Optimera Energy establishes gas facilities in Lagos Free Zone
Oil and Gas

Optimera Energy establishes gas facilities in Lagos Free Zone

Optimera Energy LFZ Enterprise has begun development of infrastructure at the Lagos Free Zone to supply natural gas to zone businesses. According to The PUNCH, the Managing Director of Optimera Energy, Mrs Audrey Joe-Ezigbo, revealed during the zone’s groundbreaking event on Tuesday that the infrastructure included a 25 million Standard Cubic Feet per day City Gate Station, […]

Chevron Nigeria appoints new chairman
Appointments

Chevron Nigeria appoints new chairman

Chevron Nigeria Limited has a new Chairman and Managing Director, Jim Swartz. This was announced in a statement on Wednesday by General Manager, Policy, Government, and Public Affairs Chevron Nigeria Limited, Esimaje Brikinn. Swartz, who was the Vice President of Capital Projects in Houston, Texas, prior to his appointment, was named Chairman and Managing Director of […]

NGX to draw in more investors - CEO
Business

NGX reports first loss of N638bn in new year

The Nigerian Exchange Limited’s market capitalization fell for the first time in the new year. The market’s eight-day surge came to an end on Wednesday, when the market cap fell by around N638 billion to close at N44.885 trillion. This comes just one day after the market cap surpassed N45 trillion. Although the All-Share Index, […]

Top ten most powerful passports in the world
featured News

Top ten most powerful passports in the world

Passports provide a gateway for destinations. With 2024 underway, the Henley Passport Index sheds light on the major participants in the international economy as well as the effects and aftereffects of the pandemic and wars. It also offers us a preview of what’s to come. It rates all 199 worldwide passports based on the number […]

Nigeria's inflation will fall to 21% in 2024 - Cardoso
Business

Ghana’s inflation rate drops to 23.2%

Ghana’s inflation rate fell to 23.2% in December 2023, a considerable decrease from the 26.4% reported in November 2023. According to Bloomberg, to battle inflation, the Bank of Ghana’s monetary policy committee kept the policy rate at 30% in November for the third time in a year. The continuous decrease in inflation data has fueled […]

HP acquires Humane’s assets for $116m, AI pin sales discontinued
News Tech

Humane lays off 4% staff before launch of AI pins

Hardware company, Humane, has declared that it would be laying off 10 workers, or 4% of its total staff. “As we begin this new chapter of Humane, going from stealth to customer facing, we are making some changes to best prepare us for continued growth,” CEO and co-founder Bethany Bongiorno wrote in a LinkedIn post. […]

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