ADF Approves $8m to Improve Banking System in Liberia, Gambia, Others By Boniface Ihiasota, USA The Board of Directors of the African Development Fund (ADF) has approved $8 million to enhance the banking system in Africa, according to a statement by the African Development Bank (AfDB). The funds will establish a digitally interoperable unique bank…
Bernard Arnault Dethrones Elon Musk as World’s Richest Man Forbes magazine has reported that Bernard Arnault & family have overtaken Elon Musk to become the world’s richest person. Arnault is the French luxury goods tycoon who owns LVMH, which includes brands such as Louis Vuitton, Christian Dior, and Tiffany & Co. Arnault’s net worth is…
Hip-Hop Mogul Jay-Z’s Net Worth Soars to $2.5 Billion, Solidifying His Reign as Richest in the Game By Boniface Ihiasota, USA Hip-hop royalty and business magnate, Jay-Z, has set a new benchmark for his net worth, which now stands at an astounding $2.5 billion. The news was reported by Forbes on Friday, placing him at…
Dangote Overtakes Four on Billionaires’ List, Makes N460bn in a Day Nigerian business magnate Aliko Dangote has climbed the ranks on the billionaires’ list, overtaking two Russians, one Chinese, and an Indian on Monday after his company, Dangote Group, made an impressive N460bn profit in a single day. The increase in demand for Dangote Cement…
Google Announces Three Initiatives to Empower Women in Africa By Boniface Ihiasota, USA Google has announced three new initiatives aimed at empowering women entrepreneurs in Africa and providing them with the resources to succeed. The initiatives were launched in celebration of the 2023 International Women’s Day. The first initiative is the Google for Startups Accelerator…
Thousands of Users Suffer Twitter Outage A significant number of Twitter users on Wednesday experienced difficulties accessing the social media platform. The development of the outage were submitted to Downdetector, a website that monitors service interruptions. Downdetector collects outage data from various sources, including user-submitted error reports. According to reports, as at 11 am, 3,473…
Biden Nominates Ajay Banga, Ex-Mastercard CEO to Lead World Bank By Boniface Ihiasota, USA United States President Joe Biden has announced the nomination of former Mastercard CEO Ajay Banga as the candidate to lead the World Bank. The development, on Thursday, followed the announcement of current chief David Malpass’s plan to step down early. The…
Nigeria Cinema Sales Rise by N819 Million in January By Boniface Ihiasota, USA The Cinema Exhibitors Association of Nigeria has announced that it recorded a total of N819 million in sales in January 2023 across cinemas in the country. This was disclosed on Monday by the National Chairman of CEAN, Mr Ope Ajayi, stating that…
CBN Orders Banks to Collect Old N500 and N1,000 Notes The Central Bank of Nigeria, CBN, has ordered commercial banks to start collecting the old N500 and N1,000 notes from the public immediately. It stated that the maximum amount customers can swap will be N500,000. The Director of Corporate Communications, Osita Nwanisobi, made the disclosure…
BREAKING: Court Stops CBN, Buhari from Shifting Naira Deadline Justice Eleoje Enenche of a High Court at the Federal Capital Territory in Abuja on Monday restrained the Federal Government and 27 listed commercial banks from suspending, stopping, extending or interfering with the currency redesignation terminal date of February 10 or issuing any directive contrary to…