Business
TWITTER: Linda Yaccarino appointed New CEO
The former head of advertising at NBCUniversal, Linda Yaccarino has been appointed as the New Chief Executive Officer of Twitter.
The owner of Twitter, Elon Musk, said Yaccarino would oversee business operations at the site, which has been struggling to make money, adding that she would start in six weeks.
Until her appointment, Yaccarino was head of advertising at NBCUniversal where she used to oversees roughly 2,000 people, and was involved with the launch of its streaming service.
She joined the company in 2011, after 15 years at Turner Entertainment and has been credited with bringing the network’s ad sales operation into the digital future.
Her departure had appeared to take NBCUniversal by surprise. On Thursday, amid media reports that she would be headed to Twitter, the firm had told news outlets that she was busy preparing for an upcoming conference.
Yaccarino will bring to Twitter a rich background in advertising, which the social media company relies on to make money and which has dropped sharply since Musk’s takeover.
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Canadian Dollar (CAD) Buy ₦1,020 Sell ₦1,080
South African Rand (ZAR) Buy ₦75 Sell ₦90
UAE Dirham Buy ₦350 Sell ₦370
Chinese Yuan Buy ₦190 Sell ₦205
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
Australian Dollar Buy ₦800 Sell ₦900
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Currency Sell
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EURO (EUR) ₦1,571. 10
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Japanese Yen (JPN) ₦8.56
Chinese Yuan (CNY) ₦201.61
West African CFA (XOF) ₦2. 40
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Saudi Riyal (SAR) ₦362.22
South African Rand (ZAR) ₦84.07
Business
NAICOM Revokes Nigeria Reinsurance’s Licence, Freezes Operations Over Capital Shortfall
Banire directed banks, financial institutions, policyholders and members of the public not to honour any instruction relating to the company except those issued by him or persons expressly authorised by him.
The National Insurance Commission (NAICOM) has revoked the operating licence of Nigeria Reinsurance Corporation for failing to meet the statutory Minimum Capital Requirement (MCR) and appointed Senior Advocate of Nigeria, Dr. Muiz Banire, SAN, as Receiver/Provisional Liquidator to wind up the company’s affairs.
The appointment took effect on August 3, 2026, following the cancellation of the company’s certificate of registration by the insurance regulator.
In a public notice dated August 4, 2026, Banire said NAICOM appointed him, in exercise of its statutory powers, to oversee the receivership and liquidation of Nigeria Reinsurance Corporation (RR-002).
In the notice, the company’s licence was revoked after it failed to comply with the prescribed Minimum Capital Requirement applicable to its category of licence within the stipulated compliance period, in accordance with the Nigerian Insurance Industry Reform Act (NIIRA) 2025 and other extant laws, regulations and guidelines.
Banire said his appointment authorises him to immediately trace, recover, secure and take possession of the company’s assets, collate and settle its liabilities in line with the NIIRA 2025, liaise with NAICOM on matters relating to the liquidation, and submit periodic reports to the Commission.
Banire directed banks, financial institutions, policyholders and members of the public not to honour any instruction relating to the company except those issued by him or persons expressly authorised by him.
Source: ThisDay
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