DYAG News and Views - 28th December 2023
We bring you the daily roundup of the hottest news from Nigeria and around the world.
Local News
From Lagos Rain to UK Spotlight: Nigeria's Ballet Prodigy Secures Elmhurst Scholarship
Nigeria's Viral Ballet Boy: From Lagos to Elite Dance School In just three years, 13-year-old Anthony Madu, known as Nigeria's viral ballet dancer, transitioned from dancing barefoot in the rain in Lagos to earning a scholarship at the prestigious Elmhurst Ballet School in the UK. His journey began when a video of his dance went viral on social media, catching the attention of Hollywood actress Viola Davis. Despite initial challenges, Anthony embraced the rigorous training at Elmhurst, broadening his horizons academically and artistically. The documentary "Madu" by Disney will showcase Anthony's inspiring journey to a global audience.
FG Eases Crypto Restrictions with Stricter Checks on Transactions
Nigeria's Central Bank has lifted a two-year restriction on cryptocurrency transactions, implementing strict customer KYC and anti-money laundering checks. The move aims to enhance transparency and reduce the risk of financial malpractice. Banks must now obtain the bank verification number (BVN) of directors and owners of crypto businesses, and crypto firms must secure a license from the Securities Exchange Commission (SEC). The guidelines also set capital requirements for virtual asset service providers (VASPs) and maintain restrictions on virtual currency transactions within banks' accounts.
Business
New York Times Pursues 'Billions' Lawsuit Against Microsoft and OpenAI for AI-Generated Excerpts
The New York Times has filed a lawsuit against OpenAI, the owner of ChatGPT, and Microsoft, alleging copyright infringement in training the language model. The lawsuit claims that "millions" of New York Times articles were used without permission, leading ChatGPT to generate excerpts that compete with the newspaper's content. The legal action seeks "billions of dollars" in damages, highlighting concerns about the impact of AI models on traditional media revenue streams. This comes amidst internal issues at OpenAI and a series of lawsuits against the company in 2023.
Toyota Drives Sales Surge: Sells 986,262 Units in November Amid Scandals
Toyota, the world's largest carmaker, achieved record-breaking worldwide production and sales in November, with 1,067,446 units produced and 986,262 units sold, marking a 12% increase from the previous year. The surge in sales is attributed to steady demand for vehicles in North America and Europe. Toyota's success is particularly notable as it focuses on hybrid cars and plans for mass-producing electric vehicles to compete with companies like Tesla and BYD. However, the positive news is overshadowed by recent scandals involving subsidiaries Daihatsu and Hino, raising concerns about potential costs and customer trust.
Apple Challenges Import Ban Over Patent Dispute on Smartwatches
Apple has filed an appeal after the Biden administration allowed a ban on the import of its watches based on a complaint from medical monitoring technology company Masimo. The U.S. International Trade Commission (ITC) order prohibits the import and sale of Apple Watches using technology for reading blood-oxygen levels. Apple requested the U.S. Court of Appeals for the Federal Circuit to halt the ban temporarily until U.S. Customs and Border Protection decides on redesigned versions' patent infringement. The ban affects Series 9 and Ultra 2 smartwatches, but Apple has temporarily paused sales.
Nigerian Government Imposes $110 Million Fine on British American Tobacco for Violations
The Nigerian government, through the Federal Competition and Consumer Protection Commission, has fined British American Tobacco (BAT) and its affiliates $110 million for alleged infringements of competition and consumer protection laws. The fine is related to violations of the Federal Competition and Consumer Protection Act and the National Tobacco Control Act. In exchange for fulfilling obligations under the Consent Order, criminal charges against BAT and an employee have been dropped. The resolution follows an active investigation, including a search and seizure operation, gathering substantial evidence of violations.
International
Opposition Clashes with Police in DR Congo Amid Election Dispute
Tensions escalated in Kinshasa as police clashed with opposition supporters demanding the annulment of the recent presidential poll in the Democratic Republic of Congo. The opposition labeled the election a sham and called for a rerun. Despite the government banning the protest, clashes ensued with injuries reported on both sides as police fired tear gas and protesters retaliated with stones. Election officials are yet to disclose precise voter turnout, with President Felix Tshisekedi currently leading the count. The dispute over the election's legitimacy has heightened amid allegations of rigging and logistical chaos, exacerbating the situation in a nation striving to stabilize amidst economic challenges.
China's New Gaming Rules Rock Tech Giants, Trigger Market Turmoil
China unveiled stringent rules to curb excessive spending and time spent on video games, impacting tech giants and wiping off billions from their market value. Aimed at limiting in-game purchases and obsessive gaming behavior, the regulations restrict rewards enticing prolonged play and additional fund top-ups. The move sent shockwaves through the gaming sector, impacting major players like Tencent and NetEase, signaling potential restructuring in game design and monetization strategies. These measures could not only reshape the gaming landscape but also potentially impact smaller publishers, signaling a significant shift in China's gaming industry.
Glock Handgun Inventor Passes Away at 94
Gaston Glock, the Austrian engineer who invented the popular Glock Handgun, has passed away at the age of 94. The Glock company confirmed that his life's work would continue in his spirit. Glock's invention gained widespread use in armed forces, security, and civilian circles worldwide. Despite controversies surrounding its popularity and criticism for its role in various incidents, Glock's impact on the small arms industry has been significant.
China's Provocations Heighten Tensions Ahead of Taiwan's
As Taiwan's pivotal presidential election approaches, China's increased military presence near the island has escalated tensions. Beijing's persistent breaches of the median line dividing the territories, coupled with verbal confrontations over territorial waters, reflect heightened tensions ahead of the election. With China aiming to influence voter sentiment against the ruling Democratic Progressive Party (DPP), its focus is on undermining support for the party's candidates, especially those advocating Taiwan's independence. This escalation comes as Taiwan grapples not only with the electoral challenge but also with internal issues, including rising costs and housing concerns, shaping a complex political landscape amid Beijing's assertive stance.
Entertainment
Iyabo Ojo Reflects, Celebrates 46th Birthday Amid Well-Wishes
Iyabo Ojo, the popular actress, celebrated her 46th birthday, using the occasion to reflect on her life and achievements. In an Instagram post, she expressed gratitude for her progress and shared lessons learned, emphasizing resilience and staying focused amid challenges. Ojo also addressed her haters, reaffirming her commitment to being herself and an activist. Fans and fellow celebrities flooded her comments with birthday wishes and prayers.
Kizz Daniel Dominates Flytime Fest, Celebrating 10 Years with Surprises and Generosity
Kizz Daniel, the headline performer at Flytime Fest 2023, celebrated a decade on stage with a masterful performance, showcasing a repertoire of chart-topping hits. The night featured surprises, including a personalized painting from a fan and guest appearances by BNXN and Mayorkun. Kizz Daniel generously gave away close to 5 million Naira to lucky fans, solidifying his connection with the audience. The festival, sponsored by various brands, promises more excitement with Davido headlining Day 3.
A Tribe Called Judah' Tops 2023 Box Office with ₦400 Million in 12 Days
'A Tribe Called Judah,' achieved a remarkable milestone by grossing ₦400 million in just 12 days, making it the highest-grossing title for 2023. Film One Entertainment, the movie's distributor, announced the record on Instagram. The success propels the film into the top five highest-grossing Nigerian movies, placing it alongside blockbusters like 'The Wedding Party' and 'Omo Ghetto: The Saga.'