Shell To Pay $15.9 Million Settlement To Nigerian Communities Impacted By Oil Spills
Shell has agreed to pay $15.9 million in compensation to communities in Nigeria impacted by four oil spills that occurred from its pipelines in the Niger Delta between 2004 and 2007. “Under the settlement, the Shell Petroleum Development Company of Nigeria (SDC) as operator of the SPDC joint venture will pay an amount of $15.9 million for […]
FTX founder Sam Bankman-Fried Signs Extradition Papers, Will Return To US For Charges
FTX founder Sam Bankman-Fried has now signed extradition papers in the Bahamas, where he lived in a multimillion-dollar mansion, after waffling on the decision since his initial court appearance last week. The disgraced former CEO signed the papers to waive an extradition hearing from the Bahamas and will now be flown to the United States to face prosecution […]
Senate Passes Business Facilitation Bill Into Law
The Business Facilitation (Miscellaneous Provision) Bill 2022, also known as the Omnibus Bill, has been enacted by the Senate, following its earlier passage by the House of Representatives. A statement signed by the special adviser to the President, Ease of Doing Business/PEBEC Secretary, Dr. Jumoke Oduwole, the Bill, which will now be transmitted shortly to […]
Elon Musk To Quit As Twitter CEO When Replacement Found
Elon Musk has said he will resign as Twitter’s chief executive officer when he finds someone “foolish enough to take the job”. The billionaire had promised to abide by the result of a Twitter poll which saw 57.5% of users vote “yes” to him quitting the role. He says he will still run the software […]
Elon Musk: Twitter Users Vote In Favour Of Boss Resigning
Twitter users have voted in favour of Elon Musk stepping down as the platform’s chief executive after the billionaire ran a poll on his future. A total of 57.5% voted “yes” after Mr Musk asked his 122 million followers whether he should stand down. Mr Musk, who bought Twitter for $44bn (£36bn), said before the […]
Nigeria’s CPI Hits 21.47% As Food Prices Increases
The Consumer Price Index (CPI), which measures the rate of change in the prices of goods and commodities, increased by 21.47 percent year on year in November, according to the National Bureau of Statistics. This compares to 15.40% in the same month in 2021. The NBS explained in a statement on Thursday that the 6.07 […]
FTX Founder Samuel Bankman-Fried Faces A Maximum Of 115 Years In Prison If Convicted On All Counts Against Him
Sam Bankman-Fried, the founder and former CEO of FTX and Alameda Research, could face up to 115 years in prison if convicted on all eight counts against him in a federal indictment unsealed Tuesday morning, according to congressional statutory maximum sentencing guidelines. The charges against him including wire fraud, wire fraud conspiracy, and conspiracy to […]
US Charges Sam Bankman-Fried With Defrauding Investors
The U.S. Securities and Exchange Commission on Tuesday charged Sam Bankman-Fried, the embattled former CEO of cryptocurrency giant FTX and trading firm Alameda Research, with defrauding investors. “FTX’s collapse highlights the very real risks that unregistered crypto asset trading platforms can pose for investors and customers alike,” said Gurbir S. Grewal, director of the SEC’s […]
British Trade Minister Badenoch Heads To India For New Round Of Trade Talks
British trade minister Kemi Badenoch will hold her first face-to-face meeting with her Indian counterpart on Monday in New Delhi in an effort to spark life into talks over a free trade agreement (FTA) between the countries. The trip marks the first formal round of negotiations since July. Former Prime Minister Boris Johnson in April […]
Senate To Question CBN Deputy Governors Over New Cash Withdrawal Policy
The Nigerian Senate has decided to question two deputy governors of the Central Bank of Nigeria (CBN) about the apex bank’s cash withdrawal limit policy. According to reports, the CBN policy announced on Tuesday limits over-the-counter cash withdrawals by individuals and organisations to N100,000 and N500,000 per week, respectively. According to a memo signed Tuesday […]
