A company, called MetaX, has sued Mark Zuckerberg’s Meta (formerly Facebook) for trademark infringement. The company said its business has been damaged by the confusion caused by Facebook’s rebrand. Registered as MetaX LLC, the company, founded in 2010, develops immersive technologies including VR and AR. The company argues that Facebook rebranding to Metaverse, has damaged […]
Zuckerberg’s Meta sued for brand name theft Read More »
Nigerians Wednesday were inundated with the news of a strike by the beadmakers, acting under the aegis of Premium Breadmakers Association of Nigeria (PBAN). Bread, beinga major staple food for many households, means the strike action will hurt consumers who already are struggling with food inflation. What PBAN said and its demands The body declared
Strike by breadmakers, implications for consumers Read More »
Nigeria’s largest telecom provider, MTN Nigeria, might see its service disrupted, a development that would impact consumers on the network negatively. This development is based on the threat by aggrieved workers who picketed the Falomo, Lagos headquarters of the telecom operator. The workers, under the aegis of the Private Telecommunications and Communications Senior Staff Association
MTN customers might face service disruption – telecom workers Read More »
The naira lost against the dollar on Wednesday at the Investors and Exporters’ window, exchanging at N426.58. The figure represented a depreciation of 0.57 per cent compared with N424.17 it exchanged for the dollar on Tuesday. The open indicative rate closed at N426.50 to the dollar on Wednesday. An exchange rate of N444 to the
Naira continues free fall at official rate; exchanges at N426.58 per dollar Read More »
The equities market of the Nigeria Exchange Limited (NGX) opened for trading at N28.208 trillion Wednesday, but closed at N28.142 trillion, thereby losing N66 billion (at 0.23 per cent.) In the same vein, the NGX All-Share Index which was at 52,308.88 basis points at the beginning of trading ended at 52,186.52 basis points, signalling a
Winners and losers, as NGX equities market loses N66bn Read More »
Godwin Emefiele, governor of Central Bank of Nigeria (CBN), has said it is illegal to exchange naira for dollar. He urged politicians against engaging in the act. “As for those who want to buy sic take naira from their account to buy dollars because of the election. I want to warn not advice that it
Buying dollar with naira illegal – Emefiele Read More »
The Nigerian Electricity Regulatory Commission (NERC) says 57.07 per cent of electricity consumers in the country were on estimated billing as of September 2021. NERC disclosed this in its Third Quarter Report 2021 obtained on Tuesday from its website. The document showed that only Ikeja, Benin, Enugu and Port Harcourt electricity distribution companies had metered
DisCos using estimated billing for 57% electricity consumers: NERC Read More »
The Monetary Policy Committee of the Central Bank of Nigeria (CBN) has raised lending benchmark (interest rate) from 13 to 14 per cent. The decision, according to the committee, aims at tackling the rising inflation in the country. The inflation trend, as at June, reached a five-year high at 18.60 percent. This is the second
CBN tackles rising inflation by raising interest rate to 14 per cent Read More »
Electricity consumers being covered by Ikeja Electric can now recharge their energy credits. The power distribution company had last week announced it would be upgrading its Customer Information System to enable it deliver better services to consumers. As a result, the company was unable to attend to customer accounts enquiries while its vending and information
Ikeja Electric completes customers information system upgrade Read More »
The African Development Bank (AfDB) Group has given a grant of $460,000 to the Securities and Exchange Commission (SEC). The grant is to enable SEC acquire an automated surveillance system meant to protect the capital market. The bulk of the funding agreement is expected to come from SEC itself. Lamin Barrow, the director-general, Nigeria Country
AfDB, SEC deploy $460,000 surveillance camera to protect capital market Read More »
