Mele Kyari, group chief executive officer (GCEO) of the Nigerian National Petroleum Company (NNPC) Limited, has said legal and security measures have been taken against individuals spreading misinformation about the company. Nigerian home decor ideas Recently, a video posted on TikTok showed a man using two small tiger generators, popularly called ‘I better pass my …
CBN orders banks to publish details of dormant accounts, unclaimed balances
The Central Bank of Nigeria (CBN) has instructed all banks and financial institutions to publish details of dormant accounts, unclaimed balances, and other financial assets on their official websites. According to CBN, a dormant account refers to a bank account that has remained inactive for at least one year. The directive was outlined in a …
$23bn refinery biggest risk of my life. If it didn’t work, I was dead – Dangote
Billionaire Aliko Dangote has described his $23 billion Dangote Refinery project as the “biggest risk” of his life, acknowledging the challenges he faced in bringing the venture to fruition. In an exclusive interview with Forbes on Monday, February 17, Dangote opened up about the risks involved in such a massive undertaking. “It was the biggest …
Mexico to sue Google if it insists on ‘Gulf of America’
Mexico has warned that it will take Google to court if the company insists on renaming the Gulf of Mexico as the “Gulf of America” for Maps users in the United States, President Claudia Sheinbaum said on Monday, February 17. Sheinbaum stated that her government had sent another letter to the US tech giant, arguing …
Court restrains CBN and others from withholding Kano LG allocation
A Kano State High Court has issued an order of perpetual injunction restraining the Central Bank of Nigeria (CBN) from withholding funds from the Federation Account to the 44 Local Governments in the state. The ruling, delivered on Monday, followed a motion filed by the applicants, including the Chairman of NULGE, Ibrahim Muhd, alongside Ibrahim …
MV Great Cotonou Begins Direct Shanghai-Lagos Shipping Service
The MV Great Cotonou, the first container-roll-on/roll-off (Con-Ro) vessel offering a direct shipping service from Shanghai to Lagos, berthed at the PTML Terminal on Tuesday. Operated by global shipping giant Grimaldi Group, the vessel reduces transit time to just 27 days, eliminating the need for transshipment at intermediary ports. This new route allows Nigerian traders …
Shehu Sani warns of what would happen if CBN continues increasing ATM withdrawal fees
The former Senator representing Kaduna Central Senatorial District, Shehu Sani, has warned that there will be consequences if the Central Bank of Nigeria continues increasing ATM withdrawal fees. He took to X to react to the scrapping of free Automated Teller Machine withdrawals for other banks’ customers by the Central Bank of Nigeria. Recall that …
Reps ask FG to suspend telecom tariff hike
The House of Representatives has urged the Minister of Communications, Innovation and Digital Economy, Bosun Tijani, and the Nigerian Communications Commission (NCC) to suspend the proposed increase in telecommunications tariffs until service delivery improves. The resolution followed a motion of urgent public importance presented by Rep. Obuku Offorji during plenary on Tuesday. Offorji recalled that …
Elon Musk leads consortium to buy OpenAI for $97.4bn
A group led by Elon Musk has made a $97.4 billion offer to take control of OpenAI, just months after he sued the artificial intelligence company. Musk co-founded OpenAI in 2015 but left in 2018. He has been critical of its move toward a for-profit model, arguing that the company has strayed from its original …