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Twitter Rolls Out Tweets That Disappear After 24 Hours

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Twitter says it is rolling out tweets which disappear after 24 hours, joining rival social platforms in offering ephemeral messages.
The new “fleets” which had been tested in several countries in recent months are “for sharing momentary thoughts” and aim to bring in users who want to avoid having their comments become permanent fixtures, according to a Twitter blog post, yesterday.
“Those new to Twitter found fleets to be an easier way to share what’s on their mind,” said Product Manager Sam Haveson and Design Director, Joshua Harris, in the blog post.
“Because they disappear from view after a day, fleets helped people feel more comfortable sharing personal and casual thoughts, opinions, and feelings,” the blog post added.
The move gives Twitter a new tool in competing with the likes of Snapchat, which made disappearing messages popular, and Facebook, which has also adopted the idea.
Twitter has become an important platform for politicians, celebrities and journalists, but it has lagged other social networks in users.
In the past quarter, it reported 187 million “monetizable” daily active users, trailing Snapchat and Facebook.
Twitter said the new format would allow users to create the same kinds of messages as in ordinary tweets, including images, videos and emojis, with the option to have the message disappear.
“Your followers can see your fleets at the top of their home timeline,” Haveson and Harris said.
“Anyone who can see your full profile can see your fleets there too,” they twitted.
Twitter has been testing the new format in Brazil, Italy, India and South Korea and learn that “we saw people with fleets talk more on Twitter.”
Twitter’s Research Director, Nikkia Reveillac, said the new format was aimed at helping people move from a passive to an active role in the Twitter conversation.
“People must feel comfortable and in control” to participate in the conversation, Reveillac told journalists.
“What we learned when we talk to people is that… engaging in conversation can honestly be incredibly terrifying… And we know that this is true in real life. And we know that it is true online,” Reveillac said.
Harris told journalists that the move was expected to boost engagement at Twitter.
“Lurking and drafting are cool, but for Twitter to really serve the public conversation, people need to feel comfortable having conversation with less pressure.
“And it might seem like we’re a little late to the game on this but we’ve been thoughtful and exploring the format and how it works for people on Twitter. And we realized through market test research that it makes sense for our platform,” he said.
Twitter said that another new feature rolling out next year is the “voice tweet,” or audio recording which takes the place of text and has been tested in the past few months.
“Sometimes, 280 characters just does not cut it,” Product Designer, Maya Gold Patterson said.
“And sometimes tweeting isn’t the right way of communicating at the moment. And so we were interested in exploring how audio could help add an additional layer to the public conversation,” he said.
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Technology, Others Responsible For Nigeria’s Bonga Oil Operations

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The Managing Director, Shell Nigeria Exploration and Company Limited (SNEPCo), Elohor Aiboni, said Bonga, Nigeria’s first deep-water asset, has recorded major milestones, due to effective leadership, cutting-edge technology, continuous improvement and collaboration with stakeholders.
She noted that since coming on stream in November 2005, Bonga has maintained a track record of production that saw it achieve one-billion-barrel export on February 13, last year.
In her presentation, titled “The Bonga Journey to a Billion Barrels”, at the ongoing 2024 Offshore Technology Conference in Houston, Texas, United States, Aiboni, said: “SNEPCo is grateful for the contributions of all the parties to the Bonga story and we can all be proud of the milestones.
“Bonga has been consistent. In 2014, nine years after coming onstream, it achieved half a billion barrels of crude and doubled it in 2023. We have worked relentlessly to ensure excellent asset management, project and wells delivery and deployment of technology and innovations in our operations”.
According to her, these factors, “coupled with the supportive partnership of the Nigerian National Petroleum Company Limited and our co-venturers – TotalEnergies, EP Nigeria Limited; Nigerian Agip Exploration; and Esso Exploration and Production Nigeria Limited, make Bonga stand out as a world-class investment case”.
She continued that, “SNEPCo also enjoyed the support of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Content Development and Monitoring Board (NCDMB) in the success of Bonga operations”.
Aiboni also listed the challenges of keeping the Bonga Floating Production, Storage and Offloading vessel full as the asset ages and dealing with unexpected developments with subsea wells and equipment.
She said: “SNEPCo responded with a campaign of operational excellence, which among other initiatives, led to the creation of a programme known as the Bonga Business Improvement Plan that continually reviews and identifies improvement initiatives and drives sustainability in operations and upskilling of staff.
“The Bonga success story has been led by Nigerians who have been managing directors of SNEPCo since it was established in 1993, in a deliberate policy by Shell to develop indigenous manpower for deep-water operations in Nigeria.
“Today, some 97percent of the SNEPCo workforce is Nigerian and overall, Bonga has helped to create a new generation of Nigerian deep-water professionals.
“Our vision at SNEPCo remains to be the best deep-water business, powering growth and achieving net zero emissions in line with Shell’s Powering Progress strategy”.

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Banks Cut Borrowing From CBN By 44% 

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Banks’ borrowings from the Central Bank of Nigeria (CBN) fell month-on-month, (MoM) by 44 percent to N12.16 trillion in April from N21.7 trillion in March.
Analysis of latest data from the CBN shows that the 44percent drop represents the first MoM decline in banks borrowing from since January when it increased by 268.7 percent to N3.6 trillion from N976.29 billion in December 2023.
However, further analysis showed that banks’ deposits in the CBN SDF grew MoM by 118.4 percent to N428.97 billion in April from N196.37 billion in March 2024.
Banks make use of the SLF to access liquidity to run their day-to-day business operations while the Standing Deposit Facility window (SDF) on the other hand, is an overnight deposit facility that allows banks to lodge excess liquidity (money) with the CBN and earn interest.
The decline in banks’ borrowing from SLF may reflect an increase in banking system liquidity and also the decision of the apex bank last year to remove the limit on the remunerable daily placements by banks at the SDF.
According to the CBN Governor, Mr. Olayemi Cardoso, the CBN removed the cap on the remunerable SDF to increase activity in the SDF window and manage liquidity.

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Expert Highlights Technology Impact On Fintech Industry Growth 

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A Financial technology expert, Olatunji Akinrinola, has highlighted the exponential growth of the FinTech industry, which according to him, was driven by technological advancements.
Akinrinola made this assertion in a  press release recently, where he stressed that the role of technology in driving this exponential growth in the FinTech sector was very outstanding.
According to him, Technology has revolutionised the way financial services are delivered, making them more accessible, efficient, and inclusive.
“Through innovations such as mobile banking, digital payments, and blockchain technology, FinTech companies have been able to reach a larger population and provided them with access to financial services”, he stated.
Akinrinola emphasised the role of technology in enabling financial inclusion, adding: “Technology has democratised access to financial services, particularly in regions with limited banking infrastructure.
“Mobile money platforms and digital wallets have empowered individuals to conduct financial transactions conveniently and securely, without the need for traditional banking services”.
He also underscored the role of Artificial Intelligence (AI) and data analytics in driving innovation within the FinTech industry,  noting: “AI-powered algorithms and predictive analytics have revolutionised risk assessment, fraud detection, and customer personalisation in financial services.
“These technologies enable FinTech companies to provide tailored solutions and mitigate risks more effectively, ultimately enhancing the overall customer experience”.
Akinrinola stressed the importance of regulatory frameworks in fostering the growth of the FinTech industry.
“While technology has accelerated the growth of FinTech, it is essential to establish robust regulatory frameworks to ensure consumer protection and maintain market stability. Regulators play a crucial role in balancing innovation with risk management, thereby creating a conducive environment for the sustainable growth of the FinTech sector”, he stated.
Akinrinola underscored the role of technology in driving the exponential growth of the FinTech industry, saying, “Technology has been a game-changer for the FinTech sector, enabling innovation, expanding access to financial services, and driving economic growth.
“As technology continues to evolve, the FinTech industry will undoubtedly play a significant role in shaping the future of financial services ecosystem”.

Corlins Walter

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