Business/Brands & Marketing
TECH ROUNDUP: Twitter owes three months’ rent to its Boulder landlord
- Twitter is owing three months’ rent to its Boulder landlord
- President Tinubu has signed the Nigeria Data Protection Bill into law
- The CBN has given commercial banks and dealers in the forex market the green light to sell forex freely
- Nigeria has officially floated its naira
Twitter owes three months’ rent to its Boulder landlord, and a judge has signed off on evicting the tech giant from its office there, court documents show. Since its takeover by Elon Musk, Twitter’s business has more or less fallen into disarray, and there have been numerous reports of unpaid bills.
MyCredit Investments Limited (formerly FairMoney Nigeria) has completed a N2.5 billion series 1 commercial paper issuance.
Visa has announced the launch of a new Visa Africa Fintech Accelerator program to help enable the continent’s expanding start-up community through expertise, connections, technology, and investment funding.
Also Read: TECH ROUNDUP: Bolt faces major backlash in Kenya over links to kidnapping cartels
Eyowo has secured a partnership with Providus Bank that allow it to restore interbank transactions for its customers after its license was revoked. “We have wrestled with great administrative bottlenecks, co-designed with the best engineers and collaborated with the most forward-thinking commercial bank partners, Providus, and now we are excited to announce that interbank transactions have been fully restored,” it said.
POLITICS
The CBN has reportedly given commercial banks and dealers in the forex market the green light to sell forex freely which is at a market-determined rate, as part of President Bola Tinubu’s plans to unify the multiple exchange rate in the market.
Nigeria’s President Bola Ahmed Tinubu has signed the Nigeria Data Protection Bill, 2023 into law. The Nigeria Data Protection Act, 2023 provides a legal framework for the protection of personal information, and the practice of data protection in Nigeria.
Nigeria has officially floated its naira after years of sticking with a hard peg that spooked investors and drained dollars from the economy. The development means buyers and sellers of foreign currency in the official FX market are now allowed to quote rates they find comfortable in the FX market, as against previous practice where rates were dictated by the CBN.
SOCIAL MEDIA
Government internet disruptions have cost the global economy $42.71 billion since 2019, and resulted in 445 significant internet shutdowns in 54 countries. In 2023 alone, 65 internet shutdowns in 13 countries with a total duration of 16,611 hours have cost the global economy $1.18 billion.
More than 300 subreddits, including popular ones like r/aww, r/music r/videos, and r/futurology, plan to go dark indefinitely after a large protest against Reddit’s API changes ends on June 14. This means users won’t be able to access these communities during this blackout.
NCC said the number of Nigerians living without access to telecom services has plummeted from 37 million in 2013 to 27 million. This represents a 27% drop in the 10 years between.
WORLD NEWS
The European Parliament has approved the bloc’s landmark rules for artificial intelligence, known as the EU AI Act, clearing a major hurdle for the first formal regulation of AI in the West to become law.
An American judge has urged the Securities and Exchange Commission to strike a compromise with Binance that would allow the global cryptocurrency exchange to continue operating in the United States as it fights a civil fraud lawsuit filed by the regulator.
