Business News

Friday, 10 May 2024 04:40

SEC introduces new regulations on private companies’ securities issuance, allotment

The Securities and Exchange Commission (SEC) has unveiled fresh regulations governing the issuance and allotment of securities by private companies. According to the new rules, any individual who issues or allocates securities without prior approval from the SEC, or breaches any of its regulations, will face penalties starting at N10 million initially, with an additional daily penalty of N100,000 for each ongoing violation. These regulations, outlined in the proposed guidelines by the SEC, encompass various aspects including debt securities offerings by private companies through public offers, private placements, or other approved methods. The rules also extend to registered exchanges and…

Friday, 10 May 2024 04:34

Business: The only question that really matters to your audience

I recently returned from teaching a class of executive education students at Harvard. Most of the business leaders enrolled in this particular class were accomplished real-estate and property developers from around the world. Builders are always sharpening their communication skills because nothing gets built until investors, city leaders, and local citizens buy into a developer's vision. So, to be convincing, developers constantly refine their plans and pitches to 'resonate with stakeholders.' Regardless of your field, if your messagedoesn't resonate with your audience, you stand little chance of gaining their support. The only question that really matters to them is: "Why…

Thursday, 09 May 2024 04:38

3 unwritten rules for workplace etiquette

Larry David For those who prioritize some standard of decorum, conventional or nontraditional social norms and expectations, here are three valuable lessons about unwritten rules that every business stakeholder can glean, especially if their aim is to build meaningful connections. Unwritten rules serve several important functions in society and business – they keep things running smoothly by guiding how we interact with one another and avoid unnecessary drama. Basically, they're like the invisible hand that keeps things in check without needing to call in the big guns of formal rules and regulations or, dare I say, HR. 1. Be fair…

Wednesday, 08 May 2024 04:15

Your company needs to get rid of its bad bosses

Recently my Inc. colleague Jeff Haden wrote a piece about the connection between bad bosses and toxic work environments, citing some 57 separate studies that effectively came to the same conclusion - "Destructive leadership significantly decreases employee job satisfaction." I immediately found myself wondering why otherwise intelligent business and thought leaders would need even one, let alone 57 studies to prove what should be self-evident - that horrible bosses create horrible places to work. What seemed even more important to understand though, is how, in the face of such a literal mountain of evidence, do these awful executives manage to…

Tuesday, 07 May 2024 04:42

Richard Branson says money isn’t a good way to measure success: Focus on this 1 word instead

Richard Branson doesn’t want to be defined by his money. Specifically, he finds it “quite insulting” when he is introduced as “the billionaire Richard Branson,” rather than as the co-founder of Virgin Group, he tells CNBC Make It. The reason: Nobody should view their net worth as an ultimate measure of success, and it’s “very sad” when making money is the sole focus of a person’s life, he says. “Maybe in America, ‘billionaire’ is a sign of success, but that rankles me,” says Branson. “I think that your reputation is what you create.” In Branson’s case, his reputation is often…

Monday, 06 May 2024 04:56

Banks’ lending to private sector declines N9.65trn as CBN tightens screws on liquidity

The Central Bank of Nigeria (CBN) has revealed a substantial reduction in banks' loans to the private sector, amounting to N71.21 trillion in March. This marks a notable decline of 11.93 percent or N9.65 trillion from February's figure of N80.86 trillion, as reported in the CBN's money and credit data. However, on a year-on-year basis, there was a significant increase of 65.57 percent compared to March 2023's N43.01 trillion. Concurrently, credit to the government also witnessed a decline to N19.59 trillion in March from February's N33.93 trillion, representing a month-on-month decrease of 42 percent. Yet, on a yearly basis, credit…

Monday, 06 May 2024 04:51

Startup founders can thrive in hard times because of these 3 things

You're worried about all the wrong things. That was how James Hong (angel investor, badass, founder of HotOrNot) responded to an article I had written two years ago about the loneliness of being a founder. The piece was a response to the hype engine of Silicon Valley and its larger-than-life founder stories -- and an attempt to break through the founder norm of business always being "great." Founders aren't superhuman, but the world wants them to be. The role requires the ability to lay off dozens of employees, fire close friends and appease unhappy customers -- while seeming impervious to…

Saturday, 04 May 2024 04:58

Peer-to-peer trading in cryptocurrencies worth $500bn in Nigeria – Expert

Chief Executive Officer of one of the leading cryptocurrency platforms in Nigeria, NoOnes, Ray Youssef, has revealed that peer-to-peer popularly known as P2P is about $500bn business in Nigeria alone. Youssef said this in an interview with Techpoint Africa on the heels of an imminent ban on cryptocurrency in the country. Speaking on the astronomical P2P transactions on Friday, the NoOnes boss asserted, “Peer-to-peer is probably like a half a trillion dollar business inside Nigeria alone. That’s the truth. Officially, cryptocurrency volume in Nigeria is at $59 billion a year, and that’s just all the official volume of everything that…

Friday, 03 May 2024 04:45

Passion, freedom and impact: The 3 ingredients of business success

More than 10 years ago I founded my then "small" business that today has more than 600 employees and tens of thousands of customers around the globe. I talk to small-business owners every day, and while they all come from different industries and places, it is passion, freedom and impact that have been the main drivers determining their success or failure, progress or regression. Let's take a closer look: Passion Passion is your drive, ambition and the love of what you do and who you serve. It provides you with a very special view of the world that others often…

Thursday, 02 May 2024 04:39

Investors on NGX lose N3.57trn on sustained stock sell off in pursuit of higher yields from fixed income markets

In April, the NGX All-Share Index witnessed a significant downturn, shedding N3.57 trillion in market value. This marks the first monthly decline for the NGX this year, following substantial gains of 17.7%, 12.47%, and 5.64% in January, February, and March respectively. Nonetheless, the NGX maintains a year-to-date increase of 31.36%. The decline in the index was primarily driven by policy announcements from the Central Bank of Nigeria (CBN), particularly the proposed recapitalization plan for commercial banks, aiming to raise approximately N4 trillion in fresh capital over the next two years. Additionally, the CBN's substantial rate hike triggered intensified sell-offs, resulting…

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Thursday, 02 May 2024 04:33

5 secrets every good boss in the modern workplace knows

Trust in bosses is on the decline, according to a new survey by Interaction Associates released last month. Nearly 60 percent of the 520 managers or supervisors polled worldwide believe their organization lacks trust. And 85 percent of 24,000 respondents to a worldwide Regus survey last year said they wanted their bosses to show more trust in their employees who work flexible hours. Indeed employee engagement measured just 13 percent in a huge worldwide survey conducted by Gallup in 2012. The best bosses know the key to keeping employees engaged is by giving them the managerial support they seek. Here…

Wednesday, 01 May 2024 04:39

How to be the kind of good boss people actually like

One common type of good boss really sticks out from the rest, says workplace culture expert Tom Gimbel: the people person. Traditionally, good bosses have skills in areas like time management, constructive criticism and simply being able to help co-workers through day-to-day tasks. A "people person" additionally uses soft skills like communication, empathy and compassion to strengthen their rapport with their employees and foster a workplace culture that people actually want to be a part of, says Gimbel, the CEO of Chicago-based employment agency LaSalle Network. "The more authentic you are, the more people are going to connect with you…

Tuesday, 30 April 2024 04:42

The 3 trusted advisors every business needs

Key Takeaways Throughout your entrepreneurial career, you will lean on and learn from many different experts — these three are just the beginning. These advisors can help you tackle tough issues and solve pressing challenges. Entrepreneurs feel enormous pressure to meet ambitious goals and deliver for their customers, employees, investors and other stakeholders. The good news is that you don't have to go it alone. It's imperative to have a robust and strategically placed network of trusted partners, experts and advisors to lean on as you navigate challenges and reach new milestones. While there are numerous examples of external experts…

Monday, 29 April 2024 04:40

Nailing customer loyalty: A guide for founders for retail success

We all want to leave customers eager to share their exceptional experiences with our brands. But standing out from players like Netflix and Nike is no small feat. Companies thrive by creating unforgettable customer experiences and the key to retail success lies not just in making sales but in crafting a journey that turns first-time buyers into lifelong brand advocates. The digital age has equipped us with an abundance of customer data, providing unparalleled insights into consumer behaviors and preferences. Yet, the true challenge lies in converting this data into meaningful interactions that resonate on a personal level with each…

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