Giant social media platform, Facebook has lost daily users for the first time. Facebook’s global daily active users declined from the previous quarter for the first time, to 1.929 billion from 1.930 billion, Reuters reports. The shares of Facebook owner, Meta Platforms Inc’s (FB.O) shares plunged more than 20% late on Wednesday after the social media company posted a weaker-than-expected forecast, blaming Apple’s privacy changes and increased competition for users from rivals like TikTok. Meta said it faced hits from …
Category: Business
Traders and buyers are presently going about their usual activities at the Orie Ugba market in Umuahia, the Abia State capital, as the trial of Nnamdi Kanu, resumes in Abuja. Despite the sit-at-home directive by the Indigenous People of Biafra led by Kanu to boycott economic activities, business is ongoing at the market. The traders opened their shops and stalls to buy and sell without frustration or molestation. Abia is the home state of Kanu, the IPOB leader. Although schools …
Standard Chartered Plc says it is closing about half of its Nigerian branches in a pivot to digital banking. The decision was reached following the finance industry coming under pressure from mobile money providers. The London-listed lender’s local unit has already started to shut some offices in December and will eventually operate only 13 branches in the country. According to a document seen by Bloomberg News, Standard Chartered is instead strengthening mobile banking and recruiting agents to reach new customers …
Some residents of Abuja, Nigeria’s capital, whose businesses were destroyed by the fire outbreak that occurred at Next Cash and Carry, a popular mall in the Jahi District of the city on Sunday have lamented their huge losses. The fire, which started around 9:00 am, razed the entire mall owned by a former governor of Anambra State, Peter Obi. Obi is also the vice-presidential candidate of the Peoples Democratic Party (PDP) in the 2019 election. The fire began on …
Union Bank of Nigeria Plc has been acquired by the Titan Trust Bank Limited (TTB), one of the fastest-growing financial service providers in Nigeria. It was learnt that the new development is based on an agreement by Union Global Partners Limited, Atlas Mara Limited and other majority shareholders to divest 88.39 per cent shareholding in Union Bank to Titan Trust Bank. According to Vanguard, the board of Union Bank of Nigeria Plc in a notification to the Nigerian Exchange Limited …
Nigerian airline, Air Peace, has responded to a letter by the General Civil Aviation Authority of the United Arab Emirates to Minister of Aviation, Hadi Sirika, over its operation in the Arabian country. Air Peace said that contrary to the claim of the GCAA that it had been given a slot in Dubai, the airline had never flown to the Dubai International Airport. UAE’s Minister of Economy, who also doubles as Chairman of the GCAA, Abdulla Bin Touq Al …