Author: Vardiafrica

Southeast Asia’s largest bank DBS said that 4,000 jobs could be cut in the next three years and be replaced by artificial intelligence as the technology becomes more advanced. “Over the next three years, we envisage that AI could reduce the need to renew about 4,000 temporary/contract staff across our 19 markets working on specific projects,” a spokesperson from the Singapore bank told AFP on Tuesday, confirming earlier reports. “As such, we expect the reduction in workforce will come from natural attrition as these temporary and contract roles are completed over the next few years.” A Bloomberg Intelligence report last…

The Senate has unanimously voted to refer Senator Natasha Akpoti-Uduaghan to the Committee on Ethics, Privileges, and Public Petitions for disciplinary review, following her recent seating arrangement dispute. The Kogi Senator had engaged in a shouting match on February 20 after discovering that her seat had been changed without her consent. The committee, chaired by Senator Neda Imaseun, has been given two weeks to report back on its findings. The decision was reached following a voice vote after lawmakers revisited the controversy surrounding the recent altercation between Akpoti-Uduaghan and the Senate leadership over seat allocation, with lawmakers underpinning the need…

The Federal Competition and Consumer Protection Commission (FCCPC) has summoned MultiChoice Nigeria to explain its proposed subscription price increase. The price increase is set to take effect on March 1, 2025. According to the Director, Corporate Affairs, Ondaje Ijagwu, in exercising its mandate under Sections 32 and 33 of the FCCPA, the FCCPC directed the Chief Executive Officer of MultiChoice Nigeria to attend an investigative hearing at the commission’s headquarters on Thursday, February 27, 2025. “This action follows MultiChoice’s formal notification of the price adjustment, which raises concerns about recurrent unilateral price hikes, potential market dominance abuse, and perceived anti-competitive…

The Nigerian National Petroleum Company (NNPC) Shipping, Stena Bulk, and Caverton Marine Limited have today announced the signing of a new joint venture that will transform Nigerian maritime transportation. The agreement, signed in London last week, aims to create a new tanker operation serving Nigeria and West Africa’s crude oil, refined product and LNG regional and global shipping requirements. The joint venture partners will create a new company whose objective is to provide top quality, reliable and efficient maritime transport. The partners will also explore options to create a modern and efficient fleet of tankers, comprising both new and existing…

The Lagos State Magistrate Court sitting in Sabo, Yaba, on Tuesday, exonerated Nigerian singer, Abdulazeez Fashola, popularly known as Naira Marley, alongside music promoter Samson Balogun Eletu, aka Sam Larry, and Owodunni Ibrahim, alias Primeboy, from allegations surrounding the death of late singer Ilerioluwa Aloba, popularly known as Mohbad. Magistrate Ejiro Kubenje, in delivering the ruling, cited the legal advice from the Directorate of Public Prosecution (DPP) in Lagos, which stated that the trio had no case to answer in connection with Mohbad’s demise. Also cleared of any criminal liability was Mohbad’s former manager, Opere Babatunde. However, the DPP confirmed…

The Nigerian Electricity Regulatory Commission (NERC) has directed all electricity distribution companies to publish the refunds made to customers who purchased meters under the Meter Asset Providers (MAP) scheme. The Commission made the announcement on its X handle on Monday following its first Nigerian Electricity Supply Industry Stakeholders meeting in 2025. Meter Asset Provider Scheme is a program introduced by the NERC where third party companies are licensed by the regulator and engaged by the Discos to procure and install meters to customers. “NERC has directed Discos to publish details of MAP refunds on their websites for transparency. This will demonstrate…

MultiChoice Nigeria has announced an upward review of subscription prices for its Digital Satellite Television (DStv) and General Entertainment and Occasional Television (GOtv) packages, citing rising operational costs due to economic conditions.  The new rates will take effect from Saturday, 1 March 2025. In a statement issued to partners, the company explained the rationale behind the price adjustment. “Due to prevalent economic factors leading to increased operational costs, we have unavoidably had to adjust the prices of our DStv and GOtv subscription packages. We understand the impact this change may have on our valued partners, and we have only taken…

Nigeria’s First Lady, Oluremi Tinubu, has flagged off the distribution of Professional kits to midwives provided by her pet project, Renewed Hope Initiative. (RHI) The flag-off for the North West Geopolitical Zone of Nigeria was held in Kaduna State with the First Ladies of the seven states of the zone in attendance. Speaking at the event, the First Lady said the demands of the health profession go beyond mere skills and compassion, noting that the right tools and infrastructure are also needed. While commending the efforts and contributions of the midwives and the entire health workforce, Mrs Tinubu said the…

Lucky Aiyedatiwa has been inaugurated as the governor of Ondo State, marking the beginning of his first full four-year term after replacing Governor Rotimi Akeredolu who died in office in 2023. The ceremony took place on Monday at the Ondo State Sports Complex in Akure, the state capital, two months after he won the governorship election on the platform of the All Progressives Congress (APC). Aiyedatiwa took his oath of office just after his running mate Olayide Adelami around 12:59 pm. The governor thereafter rode in an open van around the complex, waving to cheers from supporters. ‘We’ll not rest…

The Nigerian Senate on Monday commenced a two-day public hearing on proposed tax reform bills aimed at overhauling the country’s tax system and enhancing revenue generation. The hearing, organized by the Senate Committee on Finance, brings together key government officials, industry experts, and other stakeholders to deliberate on the proposed legislation. The reforms seek to address inefficiencies in tax administration, broaden the tax base, and strengthen compliance mechanisms to boost national revenue. Senate leadership emphasized the importance of the reforms in aligning Nigeria’s tax policies with global best practices while fostering economic growth and fiscal sustainability. Stakeholders are expected to…