Billionaires list: Dangote loses $900m in 24 hours

Dangote loses $900m in 24 hours

Billionaires list: Dangote loses $900m in 24 hours   The President/Chief Executive, Dangote Industries Limited, Aliko Dangote, saw his total net worth drop by $900m on Friday as his flagship company emerged the biggest loser at the end of trading on the Nigerian Stock Exchange. Bloomberg Billionaires Index, which is a ranking of the world’s 500 richest people, showed that his wealth fell from $18.4 billion on Thursday to $17.5 billion on Friday, making him the 114th wealthiest man in the world, down from 106th the previous day. Dangote’s net…

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Public Enlightenment: COVID-19 Second Wave is no joke in Nigeria!

COVID-19 Second Wave

Public Enlightenment: COVID-19 Second Wave is no joke in Nigeria!   By Professor Adetokunbo Fabamwo It has been clear for some weeks that Nigeria is experiencing the second wave of the COVID-19 outbreak. There has been a rapid and steady rise in the number of positive cases reported daily as well as a rise in the positivity rate. The positivity rate rose from an average of about 8% in November and presently stands at an average of 28%. The disease is affecting both the young and the elderly and some…

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Trump without Twitter: Will he move to the ‘Trumpnet’?

Trump Without Twitter

Trump without Twitter: Will he move to the ‘Trumpnet’?   By Brian Contreras Parler. Gab. Rumble. MeWe. DLive. Over the last four years, a small constellation of newish social media sites and web platforms has found favor with those on the political right who see the heavy hand of censorship in Facebook’s and Twitter’s tightening policies against hate speech and violent rhetoric. Now, with President Trump “permanently suspended” from Twitter and indefinitely locked out of Facebook in the final days of his presidency, this fringe ecosystem — call it the Trumpnet — may be poised to…

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Who is the richest person in the world? It’s ELON MUSK!

who is the richest person in the world

Who is the richest person in the world? It’s ELON MUSK! A new answer has just been provided to the age long question: Who is the world’s richest person? Or who is the richest person in the world? To be the answer to this question is an arduous task and to remain the answer over time is even more difficult. A new record for the World’s richest person has just been set by Elon Musk, the outspoken entrepreneur behind Tesla Inc. and SpaceX. He is now the richest person on…

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Crypto market cap surpasses $1trn for first time

Bitcoin extends tumble

Crypto market cap surpasses $1trn for first time   The total market value of all cryptocurrencies rose above $1 trillion for the first time on Thursday as Bitcoin surged to a record high, according to data by crypto coin trackers CoinMarketCap and CoinGecko. Bitcoin has jumped more than 900% to $38,655 on Thursday, from $3,850 in March, as governments increase speeding to blunt the economic impact of the coronavirus. This has raised fears about rising inflation and U.S. dollar debasement. The cryptocurrency is also gaining traction with more mainstream investors…

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The trouble of the troubles with Nigeria

The trouble of the troubles with Nigeria

The trouble of the troubles with Nigeria   By Prof Pat Utomi ________________ Chinua Achebe once famously wrote that the trouble with Nigeria is simply put, leadership. Profound as that conclusion was, it was esoteric. The naked truth is more disturbing, and, as T.S. Elliot wrote long ago, “humanity cannot bear too much truth”.  Achebe was too true. But our conscience is bleeding and Uthman Dan Fodio long admonished that conscience is an open wound and only truth can heal it. The plain truth, beyond Achebe’s expression of outrage, is…

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Twitter, Facebook block Trump over Capitol attack posts

Facebook block Trump Twitter block Trump

Twitter, Facebook block Trump over Capitol attack posts   Twitter and Facebook suspended Donald Trump on Wednesday over posts accused of inflaming violence in the US Capitol, as social media scrambled to respond to mayhem by supporters buying into his baseless attacks on the integrity of the election. The unprecedented sanctions came after the president took to social media to repeat his numerous false claims about fraud and other impropriety in the election he lost to Joe Biden. “This is an emergency situation and we are taking appropriate emergency measures,…

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Forex inflow through CBN declines to $6.97bn in Q3 2020

External reserves rise by $930m in two weeks

Forex inflow through CBN declines to $6.97bn Q3 2020   Foreign exchange inflow through the Central Bank of Nigeria (CBN) in the third quarter of 2020 stood at $6.97 billion. The CBN disclosed this in the third quarter economic report. It said, “Foreign exchange inflow through the Central Bank of Nigeria decreased in the third quarter of 2020, largely due to a reduction in non-oil inflow. “During the review period, aggregate foreign exchange inflow through the CBN stood at $6.97bn, a decrease of 30.7 per cent and 43.6 per cent…

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Oil tumbles after hitting $53, OPEC+ delays decision

oil export proceeds

Oil tumbles after hitting $53, OPEC+ delays decision   The international oil benchmark, Brent crude, tumbled on Monday after hitting a record high of $53 ahead of the meeting of the Organisation of the Petroleum Exporting Countries and its allies. OPEC and its allies, a group known as OPEC+, met on Monday but ended discussions without any agreement on production levels for February. The meeting was adjourned till Tuesday (today). The market declined despite expectations that OPEC+ would hold off on increasing output in February and optimism over a vaccine-driven…

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TechEconomy editor, Peter Oluka joins AFictF as executive director STEM

Peter Oluka joins AFictF

TechEconomy editor, Peter Oluka joins AFictF as executive director STEM   Peter Ikenna Oluka, a prolific media practitioner with bias for IT and Telecoms reporting, has been appointed as the Executive Director, Science, Technology, Engineering & Mathematics (STEM) by the African ICT Foundation (AfictF) in Nigeria. Peter Oluka is a Technopreneur, Public Speaker, Speech Writer, amongst other Public Relations interests. He is the Editor, TechEconomy.ng; Co-founder of Njalo.ng and GrassRoots.ng, online marketplace and news platform, respectively. He worked as Senior Correspondent, Nigeria Communicationsweek. He is an Associate Member of the…

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