Connect with us

Business

Brazil’s Supreme Court Imposes Fine On X To Allow It Resume Service

Published

on

Brazil’s Supreme Court said on Friday that social platform X still needs to pay just over $5 million in pending fines, including a new one, before it will be allowed to resume its service in the country, as seen in a court document.

Earlier this week, the Elon Musk-owned U.S. firm told the court it had complied with orders to stop the spread of misinformation and asked it to lift a ban on the platform.

But Judge Alexandre de Moraes responded on Friday with a ruling that X and its legal representative in Brazil must still agree to pay a total of 18.3 million reais ($3.4 million) in pending fines that were previously ordered by the court.

In his decision, the judge said that the court can use resources already frozen from X and Starlink accounts in Brazil, but to do so the satellite company, also owned by Musk, had to drop its pending appeal against the fund’s blockage.

The judge also demanded a new 10 million reais ($1.8 million) fine related to a brief period of time last week when X became available again for some users in Brazil.

According to a person close to X, the tech firm will likely pay all the fines but will consider challenging the extra 10 million reais that was imposed by the court after the platform ban.

X has been suspended from operating in Brazil since late August, one of its largest and most coveted markets, after Moraes ruled, it had failed to comply with orders related to restricting hate speech and naming a local legal representative.

Musk, who had denounced the orders as censorship and called Moraes a “dictator,” backed down and started to reverse his position last week, when X lawyers said the platform tapped a local representative and would comply with court rulings.

In Friday’s decision, Moraes said that X had proved it had now blocked accounts as ordered by the court, and also named the required legal representative in Brazil.

($1 = 5.4341 reais)

 

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

CBN Restores BDC Access to FX Market, Caps Weekly Purchases at $150,000

Published

on

By

By Huldah Shado

The Central Bank of Nigeria (CBN), has approved the participation of licensed Bureau De Change (BDC), operators in the Nigerian Foreign Exchange Market (NFEM), allowing each BDC to purchase up to $150,000 weekly.

The approval was contained in a circular dated February 10, 2026, signed by the Director of the Trade and Exchange Department, Dr. Musa Nakorji, and addressed to authorised dealer banks and the general public.

The CBN said the move is aimed at improving foreign exchange liquidity in the retail segment of the market and meeting the legitimate needs of end users, amid a widening gap between the official and parallel market exchange rates.

Under the new arrangement, licensed BDCs can access foreign exchange from the NFEM through any authorised dealer bank of their choice at the prevailing exchange rate.

The apex bank directed banks to carry out full Know-Your-Customer (KYC), and due diligence checks on BDC clients before selling foreign exchange to them.

It also imposed reporting and transparency requirements, mandating BDCs to submit returns electronically to the CBN.

In addition, the bank prohibited third-party transactions and limited cash settlement to a maximum of 25 per cent of each transaction.

Continue Reading

Abuja Reports

Ultraviolet MFB MD Visits Equity Circle, Eyes Strategic Partnership

Published

on

By

By Samson Adeyanju 

The Managing Director and Chief Executive Officer of Ultraviolet Microfinance Bank, Bayonle Omoyele, has paid a working visit to Equity Circle, one of Abuja’s fast-growing real estate companies, as part of efforts to strengthen strategic partnerships within Nigeria’s real estate sector.

During the visit, Equity Circle’s Co-Founder and Chief Marketing Officer, Fabian George, conducted Omoyele on a tour of the company’s facilities and outlined its growth trajectory.

He disclosed that the firm recorded significant milestones over the past four years, culminating in an ₦8 billion revenue in the 2025 financial year.

Discussions between both parties focused on establishing a strategic credit relationship, with proposed areas of collaboration including invoice discounting, structured credit solutions, and cash-flow management support to help Equity Circle sustain and scale its operations.

Addressing Equity Circle staff during an interactive session, Omoyele emphasised the importance of strong marketing fundamentals, highlighting the 4Ps of marketing-Product, Price, Place, and Promotion, as key drivers of long-term competitiveness and brand leadership.

He also urged the team to adopt a long-term growth mindset, remain focused, and ensure that every unit contributes meaningfully to the organisation’s strategic goals, noting that disciplined execution is critical in Nigeria’s evolving real estate market.

The visit underscores Ultraviolet Microfinance Bank’s commitment to supporting high-growth enterprises through tailored financial solutions and partnerships that promote sustainable economic development.

Continue Reading

Business

Moniepoint Strengthens Africa’s Tech Talent Pipeline with DreamDevs Cohort 2

Published

on

By

By Omoniyi David

Moniepoint Inc has reaffirmed its commitment to building Africa’s technology talent pipeline, announcing the opening of applications for the second cohort of its flagship DreamDevs initiative.

Co-Founder and CTO Felix Ike described DreamDevs as a programme that equips recent graduates with industry-ready skills and hands-on experience to bridge the continent’s tech talent gap.

“The success of our first cohort validated that Africa’s young tech talent can compete globally. This year, we aim to convert half of our participants into full-time employees,” Ike said, adding that the initiative creates sustainable career pathways that drive Africa’s digital economy.

DreamDevs complements Moniepoint’s other talent development programmes, including HatchDev, in collaboration with NITHub, University of Lagos, which trains about 500 specialised developers annually, and the Women-in-Tech programme, now in its fifth year.

The initiative also aligns with the Federal Government’s 3 Million Technical Talent (3MTT), programme, with Moniepoint serving as a key sponsor, offering graduates a specialised pathway from training to employment.

DreamDevs underscores Moniepoint’s broader mission to leverage technology to empower Africa’s youth and advance the continent’s digital economy.

Continue Reading

Trending

Betasusradyoenerji.com.tr1xbet1wincanlı casino sitelerijojobetmeritbetsonbahis girişkulisbetkulisbetbahis sitelerideneme bonusu veren sitelerdeneme bonusu veren sitelerdeneme bonusu veren sitelerdeneme bonusu veren siteleriptv satın alkralbetcasibominterbahismatbet güncel girişgrandpashabet girişsweet bonanzagrandpashabetjojobetpusulabet girişpusulabet güncel girişcasibommatbetimajbetsmartbahisvdcasino giriştambetpusulabet güncel girişteosbetjojobetjojobet girişbetgaranticasinowonmercurecasinocasinomilyonamgbahiscasinowonbetplayteosbetbahiscasinoteosbetradissonbetgrandpashabetcratosroyalbetvdcasinosekabetmatbetimajbetgrandpashabet girişbetpuanbetgitsonbahisamgbahisjojobetsonbahisromabetbahiscasinoholiganbetbahiscasinoromabetjojobetpalacebetbetplaymercurecasinopusulabetmeritkingPusulabet Pusulabet norabahisjokerbetteosbetcasibomcasibom girişgrandpashabetmarsbahisbetyapdeneme bonusu veren yeni sitelerbets10JojobetJojobetcasinowon girişCasibom GirişCasibomJojobetJojobethttps://google3.comhttps://google2.com/CasibomCasibomyakabetslotraBacklinkholiganbetimajbetGrandpashabetextrabetextrabet girişbetasusroyalbetcasino apibetgit girişcasinowonjojobetdizipalluxbetluxbetmeritkingsuperbetinmobilbahiskralbetmeritbetpadişahbetkazzinosahabetmatadorbetmatadorbetjojobetcasino siteleri