Eastman Kodak, the iconic photography company founded in the 19th century, has issued a warning to investors that it may not be able to continue operating. In its latest earnings report released Monday, Kodak revealed it lacks “committed financing or available liquidity” to meet roughly $500 million in upcoming debt payments. This financial strain “raises…
The Transmission Company of Nigeria (TCN) has disclosed that the federal government has spent more than N88 billion repairing and restoring power infrastructure damaged by vandalism nationwide between 2021 and 2025. Seyi Onabajo, TCN’s Principal Manager (Lines) for the Lagos Region, revealed this during a sensitisation programme held at the Odogunyan 132 kilovolt (kV) transmission…
The Federal Capital Territory (FCT) has surpassed Lagos as Nigeria’s top destination for foreign investment, according to the latest figures released by the National Bureau of Statistics (NBS). The report, titled Nigeria Capital Importation, Q1 2025, showed that the FCT attracted $3.04 billion in capital inflows during the first quarter of 2025, outpacing Lagos, which…
On Tuesday, August 5, Meta announced it had shut down nearly seven million WhatsApp accounts linked to scammers during the first half of 2025 and is intensifying efforts to combat such fraud. “Our team identified and disabled these accounts before the criminal organizations behind them could exploit them,” said Clair Deevy, WhatsApp’s External Affairs Director.…
Tesla CEO Elon Musk has been awarded a $29 billion compensation package by the company’s board, reigniting debate over executive pay as legal and shareholder scrutiny continues. The package stems from Musk’s disputed 2018 performance award, which was struck down earlier this year by a Delaware court following a shareholder lawsuit. Tesla is currently appealing…
Officers of the Nigeria Customs Service at Murtala Mohammed International Airport (MMIA) Command in Lagos have intercepted a shipment of more than 1,620 live birds being illegally exported to Kuwait. The seized birds include Ringnecked Parakeets—commonly known as parrots—and Green and Yellow Fronted Canaries. The discovery was made during routine inspections by vigilant customs officers,…
In an effort to curb frequent industrial actions by trade unions, the Federal Government has approved the National Industrial Relations Policy (NIRP) 2025. The policy aims to regulate trade union conduct and foster harmonious relationships between employers and employees. This announcement comes amid a nationwide warning strike by the National Association of Nigerian Nurses and…
The National Association of Nigerian Nurses and Midwives, Federal Health Institutions Sector (NANNM-FHI), has dismissed reports claiming that it has called off its ongoing nationwide warning strike. Omomo Tibiebi, the union’s National Public Relations Officer, told Punch that the seven-day strike, which started on Wednesday, July 30, remains in effect despite a meeting earlier today…
Tesla CEO Elon Musk has announced a $16.5 billion chip supply deal with Samsung Electronics, a partnership expected to boost the South Korean giant’s struggling foundry business. Under the agreement, Samsung’s new chip fabrication plant in Taylor, Texas, will produce Tesla’s next-generation AI6 chips. Musk shared that Tesla will actively assist in optimizing production at…
The Federal Government, through the Nigeria Customs Service (NCS), is considering the removal of the current seven percent surcharge on all imports as part of a proposal to reduce import duties. Comptroller-General of Customs, Adewale Adeniyi, revealed during a town hall meeting on the Bodogwu clearance system that the proposal to scrap the surcharge is…
