Sun, Aug

Elon Musk Sells Tesla Shares Worth $6.9bn

Billionaire founder of Tesla Inc., Elon Musk has sold $6.9 billion shares of Tesla stock ahead of Twitter’s court case, taking advantage of a recent rise in the electric vehicle maker’s stock price. He now owns 155.04 million shares in Tesla. Last year the billionaire sold more than 15 million Tesla shares. As speculation mounted over the reason for the disposal, Musk responded in a series of late-night tweets, saying he wanted to avert an emergency sale of stock. When followers asked him if he had finished selling Tesla shares and would buy the stock again if the deal does not close, Musk responded: “Yes.” Musk and Twitter are locked in a legal battle over the former's effort to walk away from the April agreement to buy the company.

WhatsApp New Feature Will Allow Users Exit Groups Silently

Meta's Chief Executive Officer (CEO) Mark Zuckerberg, has announced exciting new privacy features for Whatsapp users this month. According to the CEO users will now be able to exit groups without everyone in the group knowing. This is part of new privacy features introduced by the social media platform. With the "Leave Groups Silently" feature, instead of notifying the full group when leaving, only the admins will be notified. Zuckerberg, who made this known in a Facebook post said WhatsApp users can also prevent people from doing a screenshot of messages tagged as 'view once'.

Kenya Court Freezes Flutterwave Accounts Over Alleged Money Laundering

A Kenyan High Court has frozen cash to the tune of Ksh6.2 billion ($52.5 million) spread in 56 bank accounts belonging to Flutterwave Payment Technology Limited and other businesses connected with Nigerian nationals over money laundering allegations. Other companies affected, according to a report by The Star, are Boxtrip Travel And Tours Limited, Bagtrip Travel Limited, Elivalat Fintech Limited, Adguru Technology Limited, Hupesi Solutions and Cruz Ride Auto Limited. The billions in Guaranty Trust Bank (GTB), Equity, EcoBank, KCB and Co-operative Bank accounts were frozen after the Assets Recovery Agency (ARA) applied to block the transfer of withdrawal, pending the filing of a petition to have the money forfeited to the government.

NITDA Issues Code Of Practice For Facebook, Twitter, Others

The National Information Technology Development Agency (NITDA) has disclosed that interactive computer service platforms/internet intermediaries such as Facebook, Twitter, WhatsApp, among others are required to fulfill specific conditions in order to continue operations in Nigeria. This was made known on Monday in a document issued by NITDA, which stated that each online platform is required to register as a legal entity with the Corporate Affairs Commission (CAC), comply with regulatory demands and tax obligations, and also appoint a country representative, who will interface with Nigerian authorities.

Elon Musk Twitter Deal Collapses

American businessman and billionaire, Elon Musk, has pulled out of the $44 billion Twitter deal after negotiating and dealings broke down between the billionaire and the tech giant. Musk who in April 2022 declared his interest to buy Twitter, has made a U-Turn stating that Twitter failed to provide enough information on the number of spam and fake accounts.

Amazon Set To Open Nigerian Office, Advertises Vacancies

In an effort to expand its operations to Nigeria, South Africa, and other countries, the international e-commerce company, Amazon has announced that it is launching its Lagos-based office in April 2023. The company also disclosed that it is recruiting qualified Nigerians for 7 vacant positions which include Associate Solutions Architect for Europe, Middle East, Africa (EMEA) Start-up scaling team; Start-up Segment Leader, sub-Saharan Africa, Amazon Web Services (AWS) start-ups, and Senior Partner Sales Manager, Nigeria and Kenya.

President Buhari Inaugurates Council On Digital Economy, E-Government

President Muhammadu Buhari inaugurated the Presidential Council on Digital Economy and E-government on Friday, stating that his administration would adopt the advantages associated with digital technologies to transform every sector of the country’s economy. The President also directed the Minister of Communications and Digital Economy, Isa Pantami to chair the 27-man committee on his behalf and regularly update him on its progress.

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