Sam Altman, the Silicon Valley CEO responsible for the artificial intelligence-driven chatbots ChatGPT and GPT-4, has been ousted by the company’s board of directors, citing a loss of confidence in his leadership. The decision, announced in a statement, comes after an internal investigation revealed inconsistencies in Altman’s communication with the board, impeding its ability to…
The Association of Licensed Telecommunications Operators of Nigeria (ALTON) has suggested the possibility of raising tariffs nationwide. During a stakeholders’ meeting with the Executive Vice Chairman of the Nigerian Communication Commission (NCC), Dr. Aminu Maida, on Thursday, November 16, Mr. Gbenga Adebayo, the Chairman of ALTON, emphasized the need for a price review in response…
The Seme Area Command of the Nigeria Customs Service reported that it facilitated N8 billion worth of export cargoes from September to the present date. Timi Bomordi, the Customs Area Controller for the command, disclosed this information during a press briefing at the Seme command in Lagos. He highlighted that during the specified period, the…
During the first nine months of 2023, Nigeria’s tier-1 banks amassed a total of N102.96 billion in income from account maintenance, marking a 20.4 percent increase compared to the N85.53 billion recorded in the corresponding period of 2022. The surveyed banks, including First Bank, United Bank for Africa, Guaranty Trust Holding Company, Access Bank, and…
The Academic Staff Union of Universities (ASUU) has officially joined the nationwide indefinite strike declared by the Nigerian Labour Congress (NLC) and Trade Union Congress (TUC). On Monday, November 13, ASUU issued a directive for its members to actively participate in the strike, effective from midnight of the same day. The National President of the…
President Bola Ahmed Tinubu on Saturday in Riyadh, Saudi Arabia, began his deliberation with the Captains of Saudi Arabian Industry at the Nigeria-Saudi Investment Roundtable by making clear that with his team in place, every negative perception or notion about what Nigeria has represented in the past with respect to the ease of doing business,…
An electronics showroom well-known in Abuja has been ravaged by a fire. The fire broke out on Monday evening, November 6, at the showroom situated near the renowned Banex Plaza in Wuse, Abuja. The FCT fire service personnel are currently on the scene, working to control the blaze at the electronics store.
Nigerian Banks See Extraordinary Profit Surge Thanks to Forex Gains Recent fluctuations in the Naira’s exchange rate have translated into extraordinary profits for Nigerian banks. According to financial reports from nine prominent banks listed on the Nigerian Exchange Limited (NGX), these institutions collectively achieved a staggering pre-tax profit of N2.292 trillion during the first nine…
The Federal Government has allocated N15 billion for the comprehensive repairs of the Third Mainland Bridge in Lagos, according to details from the recently passed N2.18 trillion 2023 supplementary budget. Also, the government has stated that it owes contractors of the Eko/Marine Bridges the sum of N11,400,024, 608 (N11.4 billion). The Federal Controller of Works…
The Central Bank of Nigeria (CBN) has refuted reports of a shortage of currency notes in the nation. In a statement released on November 2, the CBN, represented by its Director of Corporate Communications, Isa AbdulMumin, assured that there is an ample supply of currency notes to support economic activities in the country. The statement…
