Business
Access Holdings names Innocent Ike new GMD/CEO
Access Holdings Chairman, Aigboje Aig-Imoukhuede, said Ike’s appointment signals a new phase for the group.He said, “We are thrilled to welcome Mr. Innocent Ike as we move forward. “
• Innocent Ike
Access Holdings Plc has appointed Mr. Innocent Ike as its substantive Group Managing Director/Chief Executive Officer, effective August 29, 2025, following regulatory approval.
The announcement, contained in a statement released on Wednesday and signed by the company secretary, Sunday Ekwochi, comes hours after Roosevelt Ogbonna resigned from the company’s board in compliance with new corporate governance rules issued by the Central Bank of Nigeria.
Ike takes over from Ms. Bolaji Agbede, who has steered the company in acting capacity for the past 18 months after the death of former Group CEO, Herbert Wigwe, in 2024.
She will now return to her role as Executive Director, Business Support.
Access Holdings Chairman, Aigboje Aig-Imoukhuede, said Ike’s appointment signals a new phase for the group.He said, “We are thrilled to welcome Mr. Innocent Ike as we move forward. “
Business
Meta reaches $18 billion of settlements over children’s social media addiction
Meta agreed for the next decade to restrict teenagers’ use of Facebook and Instagram to two hours a day and block all usage from midnight to 6 a.m., absent parental consent.
Meta Platforms on Wednesday agreed to make major changes to Facebook and Instagram and pay up to $18 billion to resolve claims by most U.S. states that it designed those platforms to addict children and misled consumers about their safety.
Reuters reported that the settlements end a federal trial that had been one of the highest-profile tests of allegations that social media companies harm children.
It said that while Meta will not undergo a fundamental overhaul, the accords represent a sweeping effort to define how it serves young users.
The focus of this case was to protect our kids,” Colorado Attorney General Phil Weiser said in a statement.
“The relief we are getting in this settlement is very meaningful and well beyond what any court has ordered or is likely to order.”
Meta agreed for the next decade to restrict teenagers’ use of Facebook and Instagram to two hours a day and block all usage from midnight to 6 a.m., absent parental consent.
These limits could be tightened if other social media companies adopt similar terms.
Meta will also enhance measures to prevent children from accessing age-restricted content.
The settlement does not require Meta, which denied wrongdoing in agreeing to settle, to abandon personalized recommendations or targeted advertising.
The total payout represents about three to four months of profit for the Menlo Park, California-based company.
Business
Naira Exchange Rates Wednesday, August 26
Today, the Naira Black Market exchange rate for 1 US Dollar is 1,400 Naira,. This means 100 US Dollars = 140,000 Naira.
BLACK MARKET RATES
US Dollar (USD) Buy ₦1,400 Sell ₦1,405
Great British Pound(GBP) Buy ₦1,900 Sell: ₦1,920
EURO (EUR) Buy ₦1,590 Sell ₦1,610
Canadian Dollar (CAD) Buy ₦1,020 Sell ₦1,080
South African Rand (ZAR) Buy ₦75 Sell ₦90
Ghana CEDI (GHS) Buy ₦95 Sell ₦110
West African CFA Buy ₦2, 300 Sell ₦2, 400
CENTRAL AFRICAN CFA Buy ₦2,150 Sell 2,250
CBN Exchange Rates
US Dollar (USD) ₦1,346.98
Great British Pound (GBP) ₦1,837 54
EURO (EUR) ₦1,571.52
Swiss Franc (CHF) ₦1,678.89
Chinese Yuan (CNY) ₦200.37
Japanese Yen (Yen) ₦8.46
West African CFA (XOF) ₦2. 40
West African Unit Account (WAUA) ₦1,849. 43
Saudi Riyal (SAR) ₦358.73
South African Rand (ZAR) ₦84.11
BLACK MARKET RATES
US Dollar (USD) Buy ₦1,400 Sell ₦1,405
Great British Pound(GBP) Buy ₦1,900 Sell: ₦1,920
EURO (EUR) Buy ₦1,590 Sell ₦1,610
Canadian Dollar (CAD) Buy ₦1,020 Sell ₦1,080
South African Rand (ZAR) Buy ₦75 Sell ₦90
Ghana CEDI (GHS) Buy ₦95 Sell ₦110
West African CFA Buy ₦2, 300 Sell ₦2, 400
CENTRAL AFRICAN CFA Buy ₦2,150 Sell 2,250
CBN Exchange Rates
US Dollar (USD) ₦1,346.98
Great British Pound (GBP) ₦1,837 54
EURO (EUR) ₦1,571.52
Swiss Franc (CHF) ₦1,678.89
Chinese Yuan (CNY) ₦200.37
Japanese Yen (Yen) ₦8.46
West African CFA (XOF) ₦2. 40
West African Unit Account (WAUA) ₦1,849. 43
Saudi Riyal (SAR) ₦358.73
South African Rand (ZAR) ₦84.11
Meta reaches $18 billion of settlements over children’s social media addiction
Naira Exchange Rates Wednesday, August 26
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