ChatGPT maker OpenAI Files To Go Public; TikTok Erases Millions Of Nigerian Videos; Failed Crypto Scammer And Convicted Felon Seeks Pardon From Trump; And Nigeria Fails First Evacuation Flight For Its
- Dipo Owolabi
- 19 hours ago
- 5 min read
Updated: 3 hours ago
No one wants to be the last AI company to go public as OpenAI files confidentially to go public. While TikTok ramps up content moderation in Nigeria after removing more than four million videos and interrupting 86,000 LIVE sessions. Elsewhere, former convicted cryptocurrency scammer and founder of failed crypto platform FTX is reportedly seeking a presidential pardon from Donald Trump, and Nigeria’s Federal Government has been forced to reschedule its first evacuation flight for citizens returning from South Africa amid renewed xenophobic attacks after the first attempt failed to take off. All this and more in today’s Read It And Eat! |
Markets as of 9th of June 2026.. Cells in RED mean that the value is down, cells in Green mean the value is up.
MAJOR HEADLINES
OpenAI (maker of ChatGPT) Files To Go Public; The Third Trillion Dollar AI Startup To Do So
OpenAI has formally filed to go public in what could become one of the largest and most closely watched technology listings in history, according to the Financial Times. The company behind ChatGPT is seeking to capitalize on surging investor enthusiasm for artificial intelligence after becoming one of the defining businesses of the AI era. The filing comes after years of explosive growth, partnerships with major technology firms, and a dramatic rise in OpenAI’s valuation as demand for generative AI tools accelerates worldwide.
This IPO is more than just a capital raise; it is a much-needed lifeline for OpenAI. Despite becoming one of the most influential companies in artificial intelligence, OpenAI's fundamentals remain shaky. The company is raising billions while simultaneously losing billions more as it spends heavily on data centers, chips, model training, and AI infrastructure. OpenAI has also committed itself to trillions of dollars in future spending plans, putting immense pressure on its balance sheet. So significant are its capital needs that the company has reportedly explored government-backed strategic investments; what some critics have described as a bailout equity investment stake.
Investor sentiment, meanwhile, may be starting to waver. OpenAI is expected to become the third trillion-dollar IPO to hit public markets, creating concerns that the sheer volume of new shares could glut the market. Public investors are being asked to absorb more mega-cap stock offerings at once than ever before, raising questions about whether demand can keep pace with supply. Analysts say OpenAI's listing will test not only enthusiasm for AI, but also the market's ability to digest the largest concentration of trillion-dollar IPOs in history. Financial Times
TikTok Removes 4 Million Videos, Interrupts 86,000 LIVE Sessions In Nigeria
TikTok removed more than four million videos and interrupted over 86,000 LIVE sessions in Nigeria during its latest content moderation cycle, according to Nairametrics. The platform said the actions were taken as part of efforts to enforce community guidelines covering misinformation, harmful content, scams, harassment, and other policy violations. Nigeria remains one of TikTok's fastest-growing markets, with millions of users relying on the platform for entertainment, education, and business promotion.
The scale of the removals highlights the increasing pressure social media platforms face from regulators and governments to police content more aggressively. TikTok has invested heavily in automated moderation tools and human review systems as scrutiny intensifies globally over online safety, misinformation, and youth protection. LIVE sessions have become a particular focus because of their potential for fraud, abuse, and the rapid spread of harmful content.
The crackdown reflects a broader shift across the social media industry toward stricter enforcement and greater transparency around moderation practices. As digital platforms become more influential in shaping public discourse, regulators are demanding stronger safeguards, while technology companies seek to balance free expression with user safety and platform integrity. NairaMetrics
Sam Bankman-Fried, the founder of the collapsed cryptocurrency exchange FTX, is reportedly seeking a presidential pardon from Donald Trump, according to Bloomberg. The former crypto billionaire is serving a lengthy prison sentence following his conviction on fraud and conspiracy charges linked to the multibillion-dollar collapse of FTX, one of the largest financial scandals in recent history. The reported effort marks the latest chapter in a case that continues to reverberate across the cryptocurrency industry.
Bankman-Fried was once one of the most influential figures in digital assets, building FTX into a global crypto powerhouse before its dramatic downfall exposed significant governance failures and misuse of customer funds. His conviction became a defining moment for the cryptocurrency sector, reinforcing calls for stronger regulation and investor protections across digital asset markets.
The reported pardon request is likely to reignite debate over accountability in financial crimes and the future of crypto regulation. While presidential pardons remain rare and politically sensitive, the development underscores how the fallout from the FTX collapse continues to shape discussions around corporate governance, financial oversight, and the responsibilities of high-profile technology founders. Bloomberg |
FG Reschedules First Evacuation Flight For Nigerians Returning From South Africa
The Federal Government has rescheduled the evacuation of the first batch of Nigerians seeking to return home from South Africa following renewed xenophobic attacks targeting foreign nationals, according to Nairametrics. The flight, initially scheduled to depart Johannesburg on Monday, will now leave on Wednesday after logistical arrangements and regulatory clearances delayed the operation. The evacuation is part of a broader government effort approved by President Bola Tinubu to assist Nigerians who wish to voluntarily leave the country amid rising anti-immigrant tensions.
The repatriation exercise has expanded rapidly as concerns over safety continue to grow. More than 1,000 Nigerians have registered interest in returning home, while over 500 have already been screened and cleared for possible evacuation. Nigerian officials in Pretoria have extended the verification process to accommodate additional applicants, and the first Air Peace flight is expected to transport approximately 270 passengers once final approvals are secured.
The latest operation highlights the persistent challenge of xenophobic violence in South Africa, which has periodically targeted migrants from across Africa. Nigerian community groups in the country claim that at least 105 Nigerians have been killed over the past seven years amid recurring anti-foreigner attacks. The growing number of Nigerians seeking repatriation underscores how renewed tensions are once again straining regional relations and raising concerns about the safety of African migrants living in South Africa. NairaMetrics
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