Business News

Monday, 25 October 2021 05:49

Buhari launches eNaira today, CBN announces

President Muhammadu Buhari will on Monday (today) launch a digital currency, the eNaira, the central bank said, months after it barred banks and financial institutions from dealing in or facilitating transactions in cryptocurrencies. Central Bank of Nigeria (CBN) Governor Godwin Emefiele has said the eNaira would operate as a wallet against which customers can hold existing funds in their bank account. "The eNaira therefore marks a major step forward in the evolution of money and the CBN is committed in ensuring that the eNaira, like the physical Naira, is accessible by everyone," the bank said in a statement. CBN has…
Monday, 25 October 2021 05:44

Don't become a slave to your business

If you want your business to grow exponentially, generate wealth and make an impact, you can't do everything yourself. You have to let your business be bigger than you - even if it still belongs to you. Being self-employed runs in my family, and many of my friends are self-employed. Not to mention the many mentors I have connected with throughout the years. But none of them who are still in the game could jet off to Spain at a moment's notice. Nor could they spend a week volunteering at an elephant sanctuary or an oil spill cleanup if the…
You might admire Bill Gates' workhorse mentality or Elon Musk's brazen attitude and ideas, but also feel conflicted about wealth inequality. Now, psychologists and marketing experts can explain that disconnect. The Ohio State University and Cornell University published new research on Monday showing why people tend to admire individual billionaires, but dislike the socioeconomic class of extremely wealthy people. The study, which involved 2,800 participants across eight different experiments, found that people commonly believe individuals get rich because they're smart, talented and hardworking, and are deserving of their wealth. But when it comes to groups of wealthy individuals, like C-suite…
Some investors aren’t waiting to see if former President Donald Trump’s plans for a media company to challenge the likes of Facebook, Twitter and even Disney can actually become reality — they’re all in. Trump said Wednesday that he’s launching Trump Media & Technology Group and a “Truth Social” app as a rival to the Big Tech companies that have shut him out and denied him the megaphone that was paramount to his national rise. The announcement came nine months after Trump was expelled from social media for his role in inciting the Jan. 6 Capitol insurrection. Experts were split…
Thursday, 21 October 2021 05:44

5 red flags someone isn’t fit to lead people

People leave managers, not companies. As an executive coach, I do a lot of listening to managers worried about losing good employees. People-oriented managers understand what they need to do to get the best out of people. I'm not concerned about them. I am concerned about managers being promoted into leadership roles when they have no business being there. Leadership is demonstrated through competence, not attitude, confidence, or charisma. It takes ability and skills. That's why the single biggest decision any organization will make is who they name manager. When you name the wrong person manager, nothing fixes that bad…
A compelling and complicated legacy, plus emotionally intelligent leadership that works. If you served in the U.S. military during the 1990s and early 2000s, I'll bet that at some point, somebody introduced you to Gen. Colin Powell's 13 rules of effective leadership. Powell, who died Monday at age 84, had a compelling and complicated legacy: first Black officer to be a four-star general commanding troops, then chairman of the Joint Chiefs of Staff, and eventually Secretary of State during President George W. Bush's first term. Of course, for many his biggest legacy was the way he pushed inaccurate intelligence in…
Total loan approvals to Nigeria from Afreximbank has now risen to $5.5billion representing 26.8 per cent of its African portfolio. This was even as it gave approval to $1.89billion in the last eight 8 months. Executive Vice President, Corporate Governance and Legal Services at Afreximbank, George Elombi, disclosed this during the intra-African Trade Fair 2021 official Nigeria high level roadshow which held in Lagos on Monday. While speaking on the theme; Promoting Nigeria-Africa Trade and Investment under the African Continental Free Trade Area (AfCFTA), Elombi stated that in the context of Covid-19, the AfCFTA has probably taken on an even…
Sell-pressure in major blue-chip stocks, especially May & Baker and Royal Exchange Assurance, dragged transactions on the equities sector of the Nigerian Exchange Limited (NGX), forcing the market to reopen on a downward note, yesterday, causing market capitalisation to depreciate by N153 billion. Specifically, at the close of trading, market capitalisation of listed equities declined by N153 billion to N21.471 trillion from N21.624 trillion reported on Friday. All-Share Index, which measures the performance of listed equities, also depreciated by 293.48 basis points to 41144.67 points from 41438.15 points, recorded the previous day. The market’s negative performance was driven by price…
When you work with as many entrepreneurs as I do, you see the same patterns in terms of mistakes that owners make once they are starting to grow and scale. Once a business gets past the initial stages—which come with their own set of mistakes—it moves into a new phase, which is growing and expanding what you’ve worked so hard to launch. As is always the case, a new phase in business, like in life, comes with its share of missteps, and I see owners and CEOs making them time and time again when scaling a business. The following are…
Oil prices hit their highest in years on Monday as demand continues its recovery from the Covid-19 pandemic, boosted by more custom from power generators turning away from expensive gas and coal to fuel oil and diesel. Brent crude oil futures rose 87 cents, or 1%, to $85.73 a barrel by 0111 GMT, the highest price since October 2018. U.S. West Texas Intermediate (WTI) crude futures climbed $1.12, or 1.4%, to $83.40 a barrel, highest since October 2014. Both contracts rose by at least 3% last week. "Easing restrictions around the world are likely to help the recovery in fuel…
May 13, 2025

NGX records significant growth in Q1 2025 trading activity

The Nigerian Exchange Limited (NGX) reported a remarkable 44.8% surge in equity transactions for Q1…
May 12, 2025

Northern leaders demand urgent action on insecurity, push for state police

Amid worsening insecurity across Nigeria, the 19 Northern governors and traditional rulers have called for…
May 10, 2025

The No. 1 lesson I learnt about relationship building, from a human connection specialist

Developing healthy, lifelong connections is something that Mark Groves knows all about: He equips individuals…
May 10, 2025

Town residents involutarily get high after Police burn 20 tons of confiscated cannabis

The 25,000 residents of Lice, a town in Turkey’s Diyarbakır province, involuntarily got high after…
May 13, 2025

Terrorists attack Nigerian army base in Borno, troops missing, sources say

Suspected Islamist militants attacked a Nigerian army base and captured soldiers and ammunition during a…
May 13, 2025

Here’s the latest as Israel-Hamas war enters Day 585

Freed Israeli-American hostage leaves Gaza, Israel says no ceasefire An Israeli-American hostage was released from…
May 11, 2025

African diet – plantains and cassava can be as healthy as tomatoes and olive oil,…

Plantains, cassava and fermented banana drink should be added to global healthy eating guidelines alongside…
May 13, 2025

Nigeria's Flying Eagles qualify for World Cup after dramatic win over Senegal

Nigeria's U-20 national football team, the Flying Eagles, have secured their place at the 2025…

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