Mark Zuckerberg’s cryptocurrency dreams are officially dead. The Meta-backed cryptocurrency venture Diem said late Monday that it had sold off its assets to Silvergate Capital, a crypto-focused bank in California, after regulators including the Federal Reserve opposed to the project. The value of the sale was about $200 million, The Wall Street
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Between January 2021 and September 2021, Nigeria lost about $4 billion (about N1.68 trillion) to crude oil theft in the Niger Delta region alone, according to Mr Tony Elumelu, the Chairman of Heirs Holding and UBA Group. Heirs Holdings also has a huge interest in Nigeria’s oil and gas industry operating
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It is a well-known fact that women are underrepresented in the global tech space. While more and more women are starting to build tech careers in a male-dominated field, women, nonetheless, do not get as much visibility as their male counterparts due to this underrepresentation. For Vivian Agbata, being the Public
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MTN Nigeria Communication Plc has said it now has 6.6 million Nigerians as direct or indirect shareholders as it made N111.75bn from its share offer to Nigerians. The telecommunications company said this in a statement titled ‘Results of the series 1 offer for sale of MTN Nigeria Communications Plc ordinary shares,
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The Phase One of the Presidential Power Initiative will boost the reliability of electricity supply to 40 million people across the country, the Federal Government announced on Monday. It also stated that the PPI would create 11,000 direct and indirect jobs in Nigeria, as its aim was to improve the living
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Since the enactment of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act in 2010, Lee Engineering and Construction Company Limited, has sustained its efforts to transform the industry into equipment fabrication hub. A good number of indigenous firms in Nigeria’s oil and gas sector have shown commitment to harnessing
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Nigeria’s power sector has continued to gasp for breath despite numerous attempts to reposition it for optimal performance. The situation has resulted in darkness all over the country as over 85 per cent of Nigeria’s population still lack access to or enjoy quality electricity. However, to rescue the sector from
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Of the many physicists who didn’t win a Nobel Prize, Edwin Herbert Hall is among a select group for whom the failure seems a particular injustice. On 28 October 1879, the 23-year-old Hall made a discovery that still reverberates today (and which would eventually lead to Nobel Prizes for four
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Major oil companies could get caught in a stranded asset trap worth as much as $500 billion if the current high oil prices tempt them to invest massively in hydrocarbons, environmental think tank, Carbon Tracker, has said. In a report, the organisation warned that spike in demand and prices could be
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The Federal Government, yesterday, commenced the first Network Development Studies training under the Presidential Power Initiative (PPI) as part of efforts to address challenges in the distribution and transmission value-chain. The Managing Director/Chief Executive Officer, FGN Power Company, Umar Waziri, stated that the project is in line with the company’s mandate
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