Author: Akintayo Adams

Employees at the video-sharing site TikTok claim that the firm is reducing personnel in an attempt to save expenses, making it the latest digital company to go through a round of layoffs in recent weeks. A representative for the company said that some 60 workers were let go, the most of them were in the sales and advertising department. They described the changes as a standard reorganization. Employees in Austin, New York, Los Angeles, and overseas are among those whose responsibilities were cut. In response to the layoff announcement, the corporation has planned a town hall meeting for this Tuesday.…

Oil marketers stated on Monday that refined petroleum products from the $20 billion Dangote Petroleum Refinery are to be sold in naira, not in US dollars as some had believed. Because so many operators had continued to register with the facility, dealers in the downstream oil industry also said that the refinery’s marketing registration process was still in progress. Furthermore, it was learned that the refinery’s management was meeting with representatives of the Nigerian Midstream and Downstream Petroleum Regulatory Authority to fine-tune the price pattern for goods produced at the plant. The Dangote Petroleum Refinery declared on January 12, 2023,…

Nigeria stands to lose up to $21 million in foreign assets held by the multinational financial giant JP Morgan. This is due to the notice that was filed to withdraw the aforementioned amount from Nigeria’s account with the UK judgment debt. The notice was sent in response to the rejection of Nigeria’s appeal against the judgment of a British Court that allowed the assets to be seized from Nigeria’s JP Morgan account in order to offset the judgment that was entered against Nigeria approximately five years ago. Meanwhile, the withdrawal is presently being contested on procedural grounds by the law…

President Bola Tinubu’s “great sense of inclusiveness” has been hailed by the Christian Association of Nigeria (CAN). This was revealed to State House media on Monday by Most Rev. Daniel Okoh, the President of CAN, following his meeting with President Tinubu at the Presidential Villa. Rev. Okoh counseled the President to stay on this inclusive course, which he has taken from the start of his administration.He claimed that since the start of his government, President Tinubu has been taking “very positive steps” and is “actually sensitive to all the challenges we have,” according to the findings of the Christian body.…

In order to lower the number of foreign students admitted to the nation, the Canadian government plans to implement a nationwide cap. In an interview with CTV’s Question Period on Sunday, Canada’s immigration minister, Marc Miller, stated that a meeting between the federal government and provincial governments is necessary “to ensure that the provinces that have not been doing their jobs actually rein in those numbers on a pure volume basis.” Miller remarked, “That volume is disconcerting,” in relation to the quantity of foreign students enrolled in Canadian universities. “In actuality, the system has gotten out of hand.” Prior to…

The Lagos State Government under Governor Babajide Sanwo-Olu, has closed the Oke-Afa, Isolo, and Katangua markets in Abule Egba due to serious environmental breaches including waste disposal violations and several unsanitary behaviors around the markets. The decision was confirmed by Mr. Tokunbo Wahab, Commissioner for the Environment and Water Resources, who stated that the action was taken to address growing concerns about environmental health. He emphasized that the government’s zero tolerance for waste effort, which was launched in the previous year, was still on track and promised to sanction any market or establishment that disposed of waste carelessly. Wahab claims,…

The N800 billion budget that the Edison Ehie-led faction of the Rivers State House of Assembly passed and Rivers State Governor Siminalayi Fubara signed into law has been declared void by Justice James of the Federal High Court Abuja. The court also upheld the lawsuit that Fubara was sued in by the Assembly and Speaker Martin Amaewhule. The lawsuit sought, among other things, an injunction prohibiting the governor from impeding the Assembly while he was speaker. Fubara presented the N800 billion 2024 budget plan to five members of the State Assembly, chaired by Edison Ehie, on December 13, 2023, amid…

Norway is intensifying efforts in oil and gas exploration, banking on the sustained growth of its energy resources. The country witnessed an uptick in natural gas production over the last year, signaling its commitment to the sector’s ongoing development. Despite encountering some setbacks in 2023, such as unexpected and prolonged maintenance shutdowns at various fields, Norway’s overall oil and gas production remained resilient. Investments for 2023 and 2024 are surpassing initial expectations, propelled by heightened activity levels, a devalued Norwegian currency, and escalating costs. Oil and gas companies are gearing up to enhance exploration activities and offshore spending in Norway,…

The British Pound is on track for a positive weekly performance against both the Euro and the Dollar, driven by encouraging news of the UK economy’s recovery in November. According to data from the Office for National Statistics (ONS), the UK economy exhibited a month-on-month growth of 0.3% in November, rebounding from the previous month’s -0.3% contraction and surpassing consensus estimates of 0.2%. While the monthly figures provided a boost, there were concerns as well. Year-on-year growth for November stood at 0.2%, recovering from a revised -0.1% in October. On a rolling three-month basis, the economy contracted by 0.2%, slightly…

The US Securities and Exchange Commission (SEC) has given the green light for the first spot bitcoin exchange-traded funds (ETFs), marking a pivotal moment in the crypto space and anticipated to attract a wave of new retail and institutional investors. The approval encompasses 11 ETFs, with sponsors ranging from established players like Fidelity and Invesco to digital-focused newcomers such as Grayscale and Ark Invest. These ETFs, which trade on exchanges like stocks and receive special tax treatment in the US, are slated to commence trading soon, with BlackRock’s iShares Bitcoin Trust expected to lead the way. This regulatory breakthrough follows…