BREAKING NEWS

  World richest person, Elon Musk, lost the total wealth of Aliko Dangote and more on Thursday, as his fortune dwindled by 10.7 percent after trading hours in the United States. Musk , who is the founder of car manufacturer, Tesla and satellite company, SpaceX, saw his wealth decline following a dip in Tesla’s share value yesterday, which fell by 11.17 percent to end trading at $829.10, against its opening of $933.36. This dip caused Musk to lose $24.5 billion from his wealth, according to Forbes Billionaire Index, which now estimated the tech boss’ fortune to be $218.3 billion as of Thursday. He, however, retained his position on the wealthiest persons ranking, sitting comfortably above Bernard Arnault & family, owner of LVMH, whose fortune was put at $193.6 billion, making him the second richest. Musk’s $24.5 billion is almost double of what Forbes estimated Dangote to be worth, after the African richest man also lost substantial amount to the tune of $856 million from his wealth

  The Economic community of West African States (ECOWAS) has suspended Burkina Faso in the aftermath of a military coup, making it the third member nation to be punished for a military takeover in only 18 months.   The West Africa's main regional bloc made the announcement on Friday January 28, days after mutinous soldiers forced democratically elected President Roch Marc Christian Kabore to resign. The soldiers also went on state television to announce a military takeover of the country, which they said was under siege from armed groups.   The military rulers said Kabore failed to stem the violence that has killed thousands during his time in power.   A delegation of ECOWAS defence chiefs will travel to Burkina Faso's capital Ouagadougou on Saturday January 29, followed by a ministerial mission a few days later, the statement said. Heads of ECOWAS member states will reconvene for another summit in Ghana's capital Accra on Feb. 3 to discuss the findings of the two delegatio

  Former Real Madrid and Manchester City striker,  Robinho has been sentenced to nine years in prison for rape in 2013.   Robinho, who was playing for AC Milan at the time, was part of a group that gang-raped a 23-year-old Albanian woman at the Sio Cafe nightclub and was originally sentenced in 2017, but his appeal process with the Italian courts have been ongoing ever since.   The Court of Cassation in Rome rejected an appeal from the former Brazil international and Ricardo Falco, a friend of the former player, relating to the incident, which occurred in 2013.   The latest decision from the court in Rome is a final sentence with no room for further appeals with the sentence to begin immediately. With the conviction, the Italian justice system can request the extradition of both Robinho and Falco, although the Brazilian constitution vetoes the extradition of Brazilians.   Due to this situation, Italy will be able to request that both men serve their sentences in a Brazilian jail.   Rob

  Super Eagles interim coach, Augustine Eguavoen will be entitled to only win bonuses as the Super Eagles progress to knock out stage at the ongoing Africa Cup of Nations tournament in Cameroon.   Eguavoen was appointed on a short-term deal after the Nigeria Football Federation sacked Gernot Rohr in December. Rohr was Nigeria’s longest-serving manager after taking charge in August 2016 but had his contract terminated after leading the Eagles to the 2022 World Cup qualifying play-offs and sealing a spot at the Nations Cup in Cameroon.   The Franco-German also led Nigeria to the 2018 World Cup and guided the team to third-place at the 2019 Africa Cup of Nations in Egypt. Eguavoen was appointed on a short-term deal after the Nigeria Football Federation sacked Gernot Rohr in December.   “Eguavoen is on the payroll of the NFF and he won’t be entitled to salary for the role he is playing as an interim coach of the team,” President of the NFF Amaju Pinnick stated recently on Arise TV.   “He w

  Super Eagles of Nigeria stars will receive $10,000 each for the victories over Egypt and Sudan at the ongoing Africa Cup of Nations in Cameroon.   This comes after the Nigeria Football Federation and the Eagles reached an agreement over the mode of payment for wins and draw at the tournament. According to PUNCH, the meeting between the players and the NFF officials was held before the start of the tournament in Garuoa.   The Eagles are expected to receive the sum of $5000 for a win and $2,500 for a draw following the meeting.   “There is an agreement that the players will receive  $5000 for a win and half of that for a draw, while they won’t get a dime for losing,” an Eagles official, who spoke on condition of anonymity, said. The players and officials of the team would be paid their bonuses in full after they qualified from the group stage of the competition,   The three-time African champions will also receive outstanding bonuses for two previous matches , a team official told  PUN

  North Korean hackers reportedly stole nearly $400 million worth of cryptocurrency in 2021, making it one of the most lucrative years for cybercriminals in the impoverished and severely isolated country.   According to a new report by Chainalysis, a firm that tracks cryptocurrency, hackers launched at least seven different attacks in 2021, targeting investment firms and centralized exchanges with a variety of tactics, including phishing, malware and social engineering. The cybercriminals worked to gain access to organizations' "hot" wallets — digital wallets that are connected to the internet — and then move funds into North Korea controlled accounts.   The report is the latest indication that North Korea which is heavily sanctioned by the US and UN continues to rely on a network of hackers to help fund its domestic nuclear program.  A confidential United Nations report last year accused the regime of North Korea's leader, Kim Jong Un, of conducting "operations

  Nigerian currency fell at the Investors and Exporters (I&E) segment of the foreign exchange (forex) on Wednesday despite a significant decrease in dollar demand. Data obtained from FMDQ securities showed that local currency weakened to the US dollars by 50 kobo or 0.12 per cent to close at N416.50/$1 compared with the preceding day’s N416/$1. The drop in  Naira  value occurred despite a 26 per cent or $27.31 million decline in the demand for FX at the market window on Wednesday. During the trading day, the value of transactions at the I&E stood at $77.61 million compared with the turnover of $104.92 million recorded on Tuesday.  At the interbank market window, Nigerian currency suffered a bad day also dropping in value by 17 kobo to sell for N414.61/$1 in contrast to N414.44/$1 of the previous day. Also against the British Pound Sterling, Naira dropped by N2.25 as it sold at N565.57/£1 versus Tuesday’s closing rate of N563.02/£1. Against the Euro, the indigenous currency decl