Business News

Tuesday, 28 December 2021 06:01

Developing this skill can support happiness at work and in life

Geraint Evans Our ancestors have been creating things for millennia, making tools and dwellings, and drawing hands or animals on cave walls. Now people everywhere are turning to crafting as a coping mechanism during Covid-19. They believe creativity is helping them find more happiness. And science suggests they may be right. According to recent research from Mental Health America (MHA), nearly 50 million American adults experienced mental illness even prior to the Covid-19 pandemic, and a growing percentage of young people are now living with major depression. On top of this, the long-term impact of the sudden and dramatic changes…

Monday, 27 December 2021 05:59

How phone app loan providers exploit Nigerians, violate their rights - Premium Times

In July, Piye Garuba needed N10,000 for an important task. So when he saw 9Credit, an online platform, offering short-term loans, he grabbed the offer. The 31-year-old Abuja-based lawyer was elated when the approval of his loan request arrived shortly after filling, on the app, the Know Your Customer (KYC) form with necessary details such as his Bank Verification Number (BVN). Little did Piye know that it was the beginning of a relationship that would turn sour. After repaying the initial N10,000 with an additional 20 per cent, being the interest for seven days, Garba turned to 9credit for another…

Monday, 27 December 2021 05:58

FG sets up machinery to shut down illegal money lenders using phone apps, others

The joint committee tackling the violation of consumer rights in the money lending industry will shut down illegal businesses at the commencement of its enforcement, the Federal Competition and Consumer Protection Commission (FCCPC) says.Babatunde Irukera, Chief Executive Officer of FCCPC, told the News Agency of Nigeria (NAN) in Abuja on Sunday that the enforcement would commence soon. The joint committee is made up of representatives from FCCPC, the Central Bank of Nigeria (CBN) and the Economic and Financial Crimes Commission (EFCC). Other agencies involved in the committee are the National Information Technology Development Agency (NITDA) and the National Human Rights…

Monday, 27 December 2021 05:49

3 reasons why new hires are so good at solving problems

What do you do when you feel stuck on a problem? Often asking a friend or family member for a pair of fresh eyes ends up being the best way to solve your issue. Even just explaining the problem out loud can help you generate new possible solutions. The same is true at work: When you and your colleagues are feeling stumped about what to do, bringing in someone new to the organization can often be just the thing you need. While that new employee might stumble on a creative solution that has eluded everyone else, they are more likely…

Thursday, 23 December 2021 06:10

Shell declares force majeure on Forcados crude

Royal Dutch Shell's Nigerian subsidiary SPDC has declared force majeure on exports of Nigerian Forcados crude oil after the obstruction of a tanker path by a malfunctioning barge, the company said in a statement. The action came into effect on Monday at 12:00 midday and Shell Petroleum Development Company of Nigeria Limited said that efforts were underway to restore access, according to an SPDC statement seen by Reuters on Wednesday. Nigeria relies on oil exports for some 90% of its foreign exchange and more than half its budget. Reuters

Thursday, 23 December 2021 05:59

6 keys to a successful virtual meeting

Invite those who care the most, talk about vital problems, listen to participants' proposed solutions After nearly three years of meeting with people via videoconference, I've reached one conclusion: too many meetings drain so much emotional energy that they are part of the problem, rather than its solution. Too many meetings drain energybecause they happen out of habit and lack a clear and compelling purpose. Before the pandemic, I participated in many meetings that were similarly draining -- but the pandemic has introduced new challenges to effective meetings. How so? Unlike in-person meetings, the casual banter that precedes virtual meetings…

Wednesday, 22 December 2021 05:04

Emirates gets back all 21 weekly flight slots to Nigeria

Federal government has reinstated Emirates’ winter flight schedule to Nigeria. The schedule consisted of 21 weekly passenger flights to Nigeria, comprising two daily flights to Lagos airport and one daily flight to Abuja airport. This was contained in a letter dated December 21 and signed by Musa Nuhu, director-general of the Nigerian Civil Aviation Authority (NCAA). The letter was addressed to the country manager, Emirates Airlines, Nigeria. Emirates is the largest airline and one of two flag carriers of the United Arab Emirates (UAE) – – the other is Etihad Airways. “Following further consultations with various stakeholders and the letter…

Wednesday, 22 December 2021 04:59

Buying Instagram followers is a useless strategy. Here’s why

Buying followers on Instagram is becoming more popular, with many celebrities, influencers and companies purchasing them to boost their social status. People are paying for these fake accounts to create the illusion that they have a more significant following than they do. This phenomenon has become so widespread that some people are even buying likes on posts to boost their number of followers further. How much does it cost to buy followers on Instagram? Buying followers on Instagram comes with a range of different prices. On some sites, it's possible to buy 100 followers for $7. That's not too bad…

Tuesday, 21 December 2021 05:58

NCC fixes floor rate for MTN, Airtel, others to receive for international calls

National Communications Commission (NCC) has set $0.045 as the new international termination rate (ITR) for voice calls. In a statement on Monday, the commission said the new rate takes effect from January 1, 2022. ITR is the rate paid to local operators by international operators to terminate calls in Nigeria. This is different from the mobile termination rate (MTR), which is the rate local operators pay to another local operator to terminate calls within the country. The new ITR replaces the existing one at N24.40k and is being received in naira by the operators. With the new development, mobile network…

Tuesday, 21 December 2021 05:51

Is your workplace toxic? Several studies blame bad bosses

Want to improve employee job satisfaction, dedication, performance, and retention? The first step is to deal with bad bosses. We've all worked for at least one bad boss. They were lazy. Arrogant. Boorish. Outstanding examples of the Dunning-Kruger Effect. They would have failed miserably on Google's key behaviors of great team managers questionnaire. Yet for some reason, no one in a position to do so did anything about it. So we hung in there, and did our best, in spite of our boss. Or did we? Hold that thought. According to a 2015 study published by Harvard Business School that…

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Monday, 20 December 2021 06:07

The difficult truth about what real leaders do

Working with a fever (from home), worrying about employees, and going the extra mile--that's what a real leader does. You want to build a start-up or get a promotion to a management job. You want to be a leader--to manage a team. And these are admirable goals. But, have you stopped to think about what day-to-day leadership looks like? It's not sitting in a big leather chair and handing down decisions that your brilliant staff carry out while you rake in the piles of gold. It's a lot of hard work and sacrifice. A woman who is an Operations Executive…

Sunday, 19 December 2021 06:28

‘The rot, stench and corruption in the system’ made me resign as Chair of First Bank Holdings - Babalola

Remi Babalola, former chairman of FBN Holdings Plc appointed by the Central Bank of Nigeria following the abrupt exit of his predecessor, Oba Otudeko, resigned his position due to “the rot, stench and corruption in the system”, PREMIUM TIMES has learnt. Babalola gave up the top board role at the financial service group on Friday. Although no official announcement has yet been made, including from the Nigerian Exchange Limited, inside sources informed about the issue confirmed the development to PREMIUM TIMES earlier on Friday. The exit of Babalola, a former Nigerian Minister of State for Finance, is coming at a…

Sunday, 19 December 2021 06:19

The 4 best ways to be more likable (and therefore successful), according to this 2,000 year-old philosophy

Because nice people can finish first. "I'm too soft with my employees," a friend announced. "I need to be cold, clinical, and emotionless. I need to quit worrying about whether people like me. I need to be more of a jerk." She paused, then nodded decisively. "I need to be a Stoic," she proclaimed. Yeah, no. While the definition of "stoic" is "a person who can endure pain or hardship without showing their feelings or complaining," embracing Stoicism (with a capital "S") means something else entirely. In simple terms, Stoicism has nothing to do with being stone-faced and emotionless. Stoicism…

Friday, 17 December 2021 06:05

7 signs to instantly identify someone with bad leadership style

How not lead your employees in the pandemic. For the past 10 months, organizations everywhere have had to grapple with an important question: How do we lead our employees better in the pandemic era? I've spoken with countless successful executives to tap into their top leadership strategies. For example, make sure to: Promote good remote work habits, such as encouraging time off and embracing an asynchronous schedule. Build inclusion in your leadership program and ensure that your high-potential pool is diverse. Show empathy and foster psychological safety in a team setting. While these examples display good leadership in uncertain times,…

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