United States formally exits the World Health Organisation.
The United States completed its withdrawal from the World Health Organisation on Thursday, one year after President Donald Trump signed an executive order initiating the departure. The Trump administration cited the WHO’s handling of the COVID-19 pandemic and alleged inability to remain independent from the political influence of member states as reasons for leaving the 78-year-old global health alliance.
The withdrawal leaves the WHO with unpaid US dues totalling approximately $260 million for 2024 and 2025. WHO member states are scheduled to discuss the departure and how to proceed during the organisation’s executive board meeting in February. Health experts warn the exit will hamper US access to global disease surveillance networks, including the WHO Influenza Surveillance System, crucial for seasonal vaccine development and pandemic preparedness.
Turkey identifies 76 artefacts believed to belong to Nigeria
The Republic of Turkey has identified 76 wooden and metal artefacts believed to belong to Nigeria, paving the way for their repatriation. The identification was disclosed during discussions between Turkish and Nigerian officials focused on strengthening cultural cooperation between the two nations.
Nigeria’s Minister of Art, Culture and Creative Economy, Hannatu Musawa, highlighted the importance of finalising a cultural cooperation agreement and urged officials to expedite the process. She emphasised Nigeria’s interest in collaborating with Turkey on film industry projects, cultural exchanges, and women’s empowerment initiatives in fashion. Turkey and Nigeria are already significant trade partners, with Nigeria serving as Turkey’s largest sub-Saharan African trading partner.
Tony Elumelu joins the Seplat board after becoming the largest shareholder
Seplat Energy appointed billionaire Tony Elumelu as a non-executive director effective Thursday, following his company Heirs Holdings’ acquisition of a 20.07 per cent stake in the oil producer for $496 million. The appointment came as Olivier Cleret de Langavant resigned from the board after French firm Maurel & Prom sold its entire shareholding to Heirs Holdings and its subsidiary Heirs Energies.
Elumelu, founder and chairman of Heirs Holdings, now holds the largest stake in Seplat Energy, surpassing institutional investors. The transaction positions Heirs Energies alongside one of Nigeria’s most established independent oil producers, with Seplat boasting 2P reserves of 1.043 billion barrels of oil equivalent as of December 2024 and working interest production of 135,600 barrels of oil equivalent per day.
TikTok seals a deal to operate in the US after years of drama
TikTok and ByteDance closed a deal Thursday to transfer parts of US operations to American investors, officially establishing TikTok USDS Joint Venture LLC with three managing investors: Oracle, Silver Lake, and Abu Dhabi’s MGX. The new entity will be 50 per cent owned by the investor consortium, with Oracle, Silver Lake and MGX each holding 15 per cent, while ByteDance retains 19.9 per cent and existing ByteDance investors hold 30.1 per cent.
The deal complies with US law, which requires TikTok to reduce its Chinese ownership to avoid a nationwide ban. Oracle will serve as the security partner responsible for auditing compliance, managing data protection, and retraining the content recommendation algorithm on US user data. TikTok CEO Shou Zi Chew will continue running ByteDance globally while maintaining a board seat, with Adam Presser serving as CEO of the American venture.
5. Oil prices slide as Trump steps back from Iran threats
Oil prices fell more than 2 per cent on Thursday after President Donald Trump signaled he would not pursue immediate military action against Iran, easing concerns about supply disruptions in the Middle East. Brent crude dropped $1.32 to $64.15 per barrel, while West Texas Intermediate declined $1.35 to $59.68 per barrel.
Trump told reporters he hoped there would be no further US military action in Iran but added the United States would act if Iran resumes its nuclear program. The comments followed weeks of escalating rhetoric over Tehran’s crackdown on nationwide protests. The US Energy Information Administration reported a 3.6 million barrel increase in crude inventories for the week ended January 16, larger than the 1.1 million barrel build analysts had forecast, adding to bearish sentiment.
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