⚖️ Heritage Bank license revoked | 📺 MrBeast now YouTube’s most-subscribed channel

Today’s Menu ☕️

⚖️ Nigeria’s Central Bank revokes Heritage Bank license
🏢 The Central Bank of Nigeria has lifted the ban on new account openings placed on OPay, Moniepoint, Kuda, PalmPay, and Paga.
📺 MrBeast overtakes T-series to become YouTube’s most-subscribed channel
💰CEPI Commits $145 Million to BioNTech for Building a Resilient African Vaccine Ecosystem

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⚖️ REGULATION

Nigeria’s Central Bank revokes Heritage Bank license

The Central Bank of Nigeria has revoked the banking License of Heritage Bank Plc. According to the apex bank, the Board and Management of the bank have not been able to improve the bank’s financial performance, a situation which constitutes a threat to financial stability. This follows a period during which the CBN engaged with the bank and prescribed various supervisory steps intended to stem the decline.

Regrettably, the bank has continued to suffer and has no reasonable prospects of recovery, thereby making the revocation of the license the next necessary step. Consequently, the CBN has taken this action to strengthen public confidence in the banking system and ensure that the soundness of our financial system is not impaired.......continue reading

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🏦 BANKING

CB has lifted the ban on new account openings placed on OPay, Moniepoint, Kuda, PalmPay, and Paga.

The Central Bank of Nigeria (CBN) has lifted its ban on five fintech startups, which includes OPay, Kuda, Moniepoint, PalmPay, and Paga. Now, these fintechs can resume onboarding new customers and open new accounts. The ban was placed in April 2024 as part of efforts to combat fraud in the industry. The ban was lifted after these fintechs met the necessary requirements and regulations.

Some of the fintechs have sent notices to their customers stating the new development while some published on their social media page....continue reading

📺 SOCIAL MEDIA

MrBeast overtakes T-series to become YouTube’s most-subscribed channel

American YouTuber MrBeast, (real name Jimmy Donaldson) has now overtaken Bollywood music label T-Series to be the person with the most subscribers on YouTube. MrBeast made this announcement on his X page. For the past 6 years, the title belonged to T-series after it beat Felix Kjellberg, aka PewDiePie to the title.

When it was neck to neck at around 266+ million, MrBeast posted the picture below. This prompted a rush giving him 2 million more subscribers yesterday, which he said is a one-day record for the channel.

As at the time of writing this article 04 June 2024, MrBeast has over 270 million subscribers while T-series has 266+ million subscribers......continue reading

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💰 FUNDING

CEPI Commits $145 Million to BioNTech for Building a Resilient African Vaccine Ecosystem

BioNTech SE and the Coalition for Epidemic Preparedness Innovations (CEPI) have announced an expansion of their strategic partnership aimed at creating a sustainable and resilient vaccine ecosystem in Africa. This collaboration involves CEPI committing up to US $145 million to support BioNTech in establishing advanced mRNA vaccine research and manufacturing capabilities at their facility in Kigali, Rwanda. This initiative aims to prepare Africa for potential future epidemic and pandemic threats.........continue reading