Reed Hastings, the co-founder and former CEO of Netflix, has been appointed to the board of directors at Anthropic, an artificial intelligence startup focused on the responsible development of AI technologies. The appointment, made by the Long Term Benefit Trust, underscores Anthropic's commitment to leveraging Hastings' extensive experience in scaling technology platforms and his philanthropic efforts in education and digital infrastructure.

Hastings, who has also served on the boards of Microsoft and Facebook (now Meta), brings a wealth of knowledge in navigating the complexities of rapid technological growth while ensuring societal benefits. His recent $50 million donation to Bowdoin College for an AI and Humanity research initiative highlights his dedication to exploring the ethical dimensions of AI, aligning closely with Anthropic's research priorities.

"Anthropic is very optimistic about the AI benefits for humanity, but is also very aware of the economic, social, and safety challenges," Hastings remarked. His involvement is seen as a strategic move to guide Anthropic through the evolving landscape of AI development, with a keen eye on minimizing potential negative impacts on society.

The addition of Hastings to Anthropic's board signals a strengthened governance framework as the company continues to grow. Alongside other board members, including Anthropic's CEO Dario Amodei and investor Yasmin Razavi, Hastings is expected to play a pivotal role in shaping the company's approach to AI development, ensuring it remains aligned with the long-term benefit of humanity.

The ongoing trial involving the Asset Management Corporation of Nigeria (AMCON) and Arik Air has taken a dramatic turn as Muhammed Abbas Jega, a former Executive Director of Credits at AMCON, contradicted his earlier testimony regarding the performance of Arik Air's loan. Initially, Jega had stated that the loan was performing, but during cross-examination, he admitted that the loan had been non-performing since its inception, shedding light on the complexities of the case.

Jega's revelation came during the trial of former AMCON MD/CEO Ahmed Kuru and others, who are facing charges related to the alleged mismanagement of N76 billion and $31.5 million. The case, which has drawn significant attention, highlights the challenges faced by AMCON in managing non-performing loans acquired from Nigerian banks under the Eligible Bank Asset (EBA) programme.

Further complicating the matter, Jega disclosed that despite AMCON's injection of N85 billion to purchase Arik's debt from Union Bank and Bank PHB, and an additional N11 billion extended as working capital, Arik Air failed to meet its financial obligations. This admission raises questions about the due diligence processes at AMCON and the viability of the airline's financial restructuring efforts.

The trial also took an unexpected turn when Jega questioned the authenticity of the Loan Purchase Agreement presented in court, pointing out discrepancies in signatures and document structure. This development adds another layer of intrigue to the case, as it challenges the integrity of the documents underpinning the financial transactions between AMCON and Arik Air. The court's decision on these matters could have far-reaching implications for corporate governance and financial accountability in Nigeria's banking and aviation sectors.