Business
The rhythm of Nigeria's business world
Justice Hamza Muazu of the Federal Capital Territory High Court in Abuja has granted Mr. Godwin Emefiele, the immediate past Governor of the Central Bank, bail in the sum of N300 million and two sureties in like sum.
The sureties must provide certificates of occupancy and titles of properties...
In a shocking announcement on X, Binance Chief Executive Changpeng Zhao revealed his resignation following a guilty plea to money laundering violations. Zhao expressed remorse, stating, "I made mistakes, and I must take responsibility. This is best for our community, for Binance, and for...
Sam Altman, co-founder of OpenAI, is set to reclaim his position as CEO just days after being ousted by the board. The unexpected reversal comes amid a public outcry from OpenAI staff, who threatened mass resignations unless Altman was reinstated.
The tech company revealed an "agreement in...
The Nigerian Naira showcased a robust performance, closing at N750.14 against the dollar at the official market on November 20, 2023. This 5.55% appreciation brought relief to financial analysts, attributing the upswing to the Central Bank of Nigeria's (CBN) strategic move to clear a backlog of...
Americas
OpenAI: Leadership Crisis Sparks Mass Exodus Threat as Employees Contemplate Joining Microsoft
Image Credit: TechCrunch
Hundreds of OpenAI employees are considering leaving the artificial intelligence giant to join Microsoft, following the departure of co-founder Sam Altman. Altman, who was ousted from OpenAI, is set to establish an AI subsidiary at Microsoft.
A letter, signed by some...
The Central Bank of Nigeria (CBN) has once again deferred the meeting of its Monetary Policy Committee (MPC), despite the country grappling with a significant surge in inflation. A Bloomberg report on Monday quoted Dr. Isa Abdulmumin, the CBN's Director of Corporate Communications, confirming...
Americas
Microsoft Taps OpenAI Visionaries Altman and Brockman to Pave the Future of AI Amidst Board Turmoil
Image Credit: TechCrunch
Microsoft has appointed former OpenAI co-founders, Sam Altman and Greg Brockman, to head a groundbreaking AI research team, following Altman's dismissal from OpenAI's board. Despite the unexpected decision by OpenAI, Microsoft's CEO Satya Nadella expressed confidence in...
Image Credit: TechCrunch
OpenAI, the influential artificial intelligence research laboratory, announced on Friday that it has removed its co-founder and CEO, Sam Altman, following a review that revealed he was "not consistently candid in his communications" with the board of directors. The...
The Naira experienced a staggering fall, reaching a historic low of N1,105 against the US Dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM), the Central Bank of Nigeria's (CBN) approved official market.
The day began with the Naira opening at N830, marking a rapid depreciation...
MultiChoice, a leading media company, has encountered significant financial challenges, reporting an after-tax loss of R911 million ($50.2 million) for the six months spanning April 1 to September 30, 2023. This marks a substantial downturn compared to the R55 million after-tax profit reported...
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