US social media giant Meta was slapped Wednesday with fines totalling 390 million euros ($413 million) for breaching EU personal data laws on Facebook and Instagram, Ireland’s data regulator said. Meta and other US Big Tech firms have been hit by huge fines over their business practices in the European Union in recent years and the bloc has also tightened online regulation. The Irish Data Protection Commission said in a statement that Meta breached “its obligations in relation to transparency” and used an incorrect legal basis “for its processing of personal data for the purpose of behavioural advertising”. The watchdog…
Author: Elvis Eromosele
The World Bank has said Nigeria can consider reforms in three key areas in order to mitigate the impact of a slowing global economy occasioned by the Russia-Ukraine conflict, Covid-19 and other global and external shocks. The bank, in its December 2022 Nigeria Development Report, said findings indicate that reforms can be made in three key areas namely: “Restoring macroeconomic stability through measures to reduce the domestic and external imbalances.” This according to the World Bank, will require a coordinated mix of exchange rate, trade, monetary, and fiscal policies, notably including adopting a single, market-responsive exchange rate, eliminating the petrol…
Digital transformation investments in the Middle East, Türkiye, and Africa (META) are set to more than double across the 2021–2026 period, according to the latest forecast from International Data Corporation (IDC). The global technology research, consulting, and events firm said that digital transformation spending in the region will accelerate at a compound yearly growth rate (CAGR) of 16 per cent over the five years, topping $74 billion in 2026 and accounting for 43.2 per cent of all ICT investments made that year. IDC’s Group Vice President and Regional Managing Director, META, Jyoti Lalchandani, said: “For many organisations, the digital and…
Reports indicate that Nigerians willing to subscribe to Elon Musk’s Starlink internet service will pay up to $600 to acquire the setup hardware. With the naira exchanging at N730 to $1 in the black market, this is about N438,000.00. In addition, the subscription to Starlink’s service in Nigeria will cost $43 per month, which is about N31,000.00. The company said Nigerians can pre-order the $600 hardware as it prepares to launch this year. Sources reveal that Starlink, which was expected to roll out its service in Nigeria before the end of last year, said its rollout is now “pending regulatory…
Title: Okeho Exodus: Regicide, Revolt, Relocation: A Historical Play Playwright: Olutayo Irantiola Publisher: Peo Davies Communications Year of Publication: 2022 Reviewer: Dr. Mutiat Titilope Oladejo As a historian, I find it interesting to read Olutayo Irantiola ‘s book on The Okeho Exodus. I reviewed the book and I am pleased to say that we own our stories and it is good that we can recreate them for our pleasure and for the future. While lecturing at Emmanuel Alayande College of Education, I had the cause to visit Okeho to supervise students in teaching practice. I also visited other towns in Oke-Ogun.…
Eng. Gbenga Adebayo, Chairman, Association of Licensed Telecoms Operators of Nigeria (ALTON), has disclosed that network providers will disconnect banks from the Unstructured Supplementary Service Data (USSD) code. ALTON, the umbrella body for MTN Nigeria, Airtel, Glo, 9mobile amongst others, had disclosed that the banks have failed to remit commission from the charges of the USSD used by bank account holders for electronic transactions. The debt has risen to N80 billion as of November 2022 from N32 billion in 2019. As a result of the growing debt, the network providers have continued to threaten disconnection. In a report by Punch…
Nigeria’s President Muhammadu Buhari will on Tuesday, January 3rd 2023 sign the N21.8 trillion 2023 Appropriation Bill. Senate President Ahmad Lawan revealed this while speaking to State House correspondents on Friday after a closed-door meeting with Buhari at the Presidential Villa in Abuja. Recall that earlier in the week, the Senate approved the passage of the N21.8 trillion 2023 budget.
Wema Bank’s board has appointed Morus Oseni, the bank’s deputy managing director, as its new chief executive. The development followed the imminent retirement of the current CEO Ademola Adebise, who exits the bank at the end of the first quarter of 2023. Wole Akinleye, an executive director, will fill the void Mr Oseni will be leaving by taking up the deputy managing editor’s role. On 2 January 2023, Mr Adebise will commence a terminal leave, the culmination of his 13-year service to the bank. Under his stewardship, Wema Bank’s asset base grew by 155 per cent to over N1.2 trillion, and…
The year 2022 has been an eventful one. As we close out on all activities of the year and look forward to a new one, it is important that we begin to envisage what the new year portends and be better prepared. The outgoing year has been marked with some remarkable incidences: President Muhammadu Buhari signed the Electoral Act 2022, the CBN issued a string of controversial announcements, the Nigerian government plans to wean off the subsidy regime starting next year, and 5G made it to Nigeria, however, rollouts have been slow. These and many more are the highlights that…
Former Pope Benedict XVI has died at his Vatican residence, aged 95, almost a decade after he stood down because of ailing health. He led the Catholic Church for less than eight years until, in 2013, he became the first Pope to resign since Gregory XII in 1415. Benedict spent his final years at the Mater Ecclesiae Monastery within the walls of the Vatican. This was revealed in a statement from the nigeriacatholicnetwork.com via Vatican News, made available through Padre Mike Umoh, the National Director of Social Communications in Abuja on Saturday. His successor, Pope Francis, said he had visited him there…