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Jeff Bezos, Nvidia, and OpenAI Back Figure AI’s Humanoid Robot Venture with $675M Funding. In the realm of AI exploration, a notable shift is underway as tech titans like Jeff Bezos and Nvidia pivot towards humanoid robotics. This movement…
CBN Proposes Increase in BDC Minimum Share Capital to N2 Billion for Tier 1 License. The Central Bank of Nigeria (CBN) is considering a substantial increase in the minimum share capital requirements for Bureau De Change (BDC) operators, aiming…
CBN Directs Customs: Use Form M Exchange Rate for Import Duty Calculation. In a recent directive, the Central Bank of Nigeria (CBN) has instructed the Nigerian Customs Service (NCS) to adopt the foreign exchange (FX) closing rate on the…
Gombe State Unearths 523 Ghost Workers Using Biometric Register for Civil Servants. The Gombe State government has made a significant breakthrough by uncovering 523 ghost workers through the implementation of a biometric verification register for civil servants across the…
World Food Program Temporarily Halts Local Food Purchases in Nigeria Awaiting Price Stabilization. The United Nations World Food Program (WFP) has announced a strategic pause in its procurement of local food supplies in Nigeria, citing the need for market…
Challenges in Real Estate Development: Rising Cement Prices and Economic Pressures. In the realm of real estate development, escalating costs of building materials, particularly cement, coupled with economic uncertainties, are compelling developers to reconsider their projects nationwide. This shift…
NERC Considers Price Adjustment for Prepaid Meters Amid FX Challenges. The Nigerian Electricity Regulatory Commission (NERC) is contemplating a potential increase in the price of prepaid meters, responding to mounting production costs encountered by meter manufacturers. Sources familiar with…
Impact of Rising Fuel and Commodity Prices on Nigeria: AfDB Warns of Potential Social Unrest. The African Development Bank (AfDB) has issued a cautionary note, highlighting the looming threat of social unrest in Nigeria due to escalating prices of…
Nigerian Breweries 2023 Annual Report: Navigating Challenges with Strategic Moves Despite N106 Billion Loss. Key Highlights: Revenue surges by 9%, showcasing resilience amidst economic challenges. Operating profit declines by 15% due to increased input costs and economic pressures. Expansion…
Are Dating Apps Like Tinder and Hinge Exploiting User Addiction for Profit? On Valentine’s Day, Match Group, the parent company of popular dating apps like Tinder and Hinge, found itself embroiled in a potential class-action lawsuit. The lawsuit alleges that…
Ademola Adebise Unveils Memoir: A Journey from Tech Savvy Innovator to Bank CEO. In a grand event held in Lagos, the former Managing Director/CEO of Wema Bank Plc, Mr. Ademola Adebise, introduced his memoir to an illustrious audience, encompassing…
MultiChoice Resolves Tax Dispute with FIRS, Agrees to $37.3 Million Settlement MultiChoice Group (MCGJ.J), the leading pay TV conglomerate in Africa, announced on Thursday the resolution of a tax dispute with Nigerian tax authorities, resulting in a settlement payment of…