SERAP threatens Zuckerberg, Meta with legal action

Socio-Economic Rights and Accountability Project (SERAP) has threatened to sue Mark Zuckerberg, Chairman and Chief Executive Officer, Meta Platforms Incorporated (Facebook) and his organisation if he fails to “immediately pay the $220 million fine imposed on Meta by the Federal Competition and Consumer Protection Commission (FCCPC). SERAP urged Mr. Zuckerberg …

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IMF urges transparency in Nigeria’s oil sector

…warns of new economic shocks in sub-Saharan Africa The International Monetary Fund has called for transparency in Nigeria’s oil sector to ensure the gains from fuel subsidy removal are not lost to inefficiencies and opacity, but delivers more resources into government coffers and better livelihoods for citizens. While commending the …

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Stocks gain over N960bn in 4-day trading week

Nigeria’s equities market value rose remarkably by N966billion in the four-day trading week ended Friday April 25. Analysts see the first-quarter (Q1) earnings season providing catalyst for continued investor engagement, with strong corporate performances driving buy-side interest from stock investors. Specifically, consumer goods, banking and insurance stocks pushed the market …

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Tribunal upholds FCCPC’s $220m fine against Meta

The Competition and Consumer Protection Tribunal has upheld the $220 million fine levied against Meta Platforms Inc. by the Federal Competition and Consumer Protection Commission (FCCPC). In a statement released Friday, FCCPC’s Director of Corporate Affairs, Ondaje Ijagwu, confirmed the ruling and noted that the tribunal also awarded the commission …

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APC using money to buy off PDP, democracy at risk – Bugaje

A former presidential adviser and ex-member of the House of Representatives, Usman Bugaje, has accused the ruling All Progressives Congress of using financial inducements to orchestrate the defection of key figures from the opposition Peoples Democratic Party. Bugaje made the statement during a televised interview on Arise TV on Thursday. …

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