Business News

Nigerian stocks were up 0.22 per cent on Wednesday, on course for another week of positive return, as traders and investors continued to shift their gaze to some of the big bank stocks to take strategic positions ahead of the release of companies quarterly and half-year earnings reports due any moment from now. Access, the country’s biggest bank by asset, drove the rise, supported by rival Zenith and also Custodian Investment. In the spirit of the earnings season, tier 2 lender Fidelity told the Nigerian Exchange Limited in a Wednesday note of its closed period schedule and the plan of…
How much money you make definitely matters. But what you do--and don't do--with what the money you make matters even more. If financial success is your goal -- and most of us include some degree of wealth in our individual definitions of success -- your personality definitely plays a role. (According to a 2018 study, rich people possess these five personality traits.) But so does how you answer one simple question. Rafael Badziag interviewed 21 self-made billionaires while writing The Billion Dollar Secret: 20 Principles of Billionaire Wealth and Success. Some credited a willingness to take intelligent risks. Some credited…
Recently founded a startup or planning to soon? These are some of the most common founder mistakes to avoid, including how to avoid burnout. When I was only 23, I started my company by myself, with no outside funding or support. In a few years, I scaled the company into a multimillion-dollar business with over 50 people working for me. But then I burned out hard. After a creative retreat, I figured out how to pivot and increase my business' profitability, while spending significantly less time managing it. These days, I'm focused on investing in smart founder's building interesting SaaS…
For Basit, climbing the corporate ranks of commercial banking in Nigeria has been an exercise in frustration. The 28-year-old, whose name has been changed to protect his identity, has worked as a teller with Fidelity Bank in Nigeria since 2015. Six years on, he is at the same branch, working at the same entry-level position, for the same meagre salary of 68,000 naira ($165) a month. It is not Basit’s work ethic that is lacking, but the arrangement under which he works. He is not technically a full-time employee of Fidelity. The entire time he’s worked there, he’s been a…
Naira fell marginally against the U.S. dollar at the parallel market on Wednesday after it remained unchanged for the past two days. The currency also fell at the official market after maintaining steady gains in the last two sessions. Data posted on abokiFX.com, a website that collates parallel market rates in Lagos showed that the naira closed at N503.00 per $1 at the black market window on Wednesday. This represents a N1.00 or 0.20 per cent devaluation from N502.00 it traded in the last two previous sessions. Also, data posted on the FMDQ Security Exchange where forex is officially traded…
Step one: The momentum In my case, the impulse started one morning, at 3 in the morning. I looked at myself in the mirror, my face wet, breathing noisily, like Darth Vader in pajamas. I was angry. I was disappointed. I was confused. Above all, he was afraid. He didn't know how he was going to get out of this one. I was terrified. And it was not for less -or at least he believed-. Until a few hours ago ... I had a job. The salary was good and the future looked fabulous. But everything turned to nothing when…
You’ve got this. What’s this? Well, it’s anything you’re shooting for right now that other people told you couldn’t happen. Or maybe you doubted you could do it. It’s your comeback. We often experience this phenomenon via sports: “A comeback is when a person or team accomplishes something that they probably shouldn’t, such as a win after facing a deficit or a disadvantage or when their trajectory was on a downward slope,” says Gregory Chertok, a sports psychology consultant in New York City. For you, that might mean selling a book proposal after your first try was rejected dozens of…
Oil prices fell 2% to a one-week low on Monday after hitting their highest since 2018 earlier in the session, as a spike in Covid-19 cases in Asia and Europe put a brake on the rally before this week’s OPEC+ meeting. Brent futures fell $1.50, or 2.0%, to settle at $74.68 a barrel, while U.S. West Texas Intermediate (WTI) crude fell $1.14, or 1.5%, to settle at $72.91. Those declines pushed both contracts out of overbought territory and were their lowest closes since June 18. Earlier in the volatile session, both benchmarks rose to their highest levels since October 2018.…
People dread failure and see it as something that's bad. This article is written to provide the tools for how to handle failure, and the perspective to show that failure can bring personal and professional growth. There’s a stigma against failure. Beliefs that “It can’t happen to me.” “It shouldn’t.” “It won’t.” It does. No matter who you are, what you do, how you do it, where you do it — failure is waiting. This isn’t meant to serve as a grim reminder of the day that success is unattainable. Success is viable and waiting for you. So is failure.…
Legal provisions will be utilised to collect taxes on profits made locally by global technology and digital firms not based in Nigeria, but with significant economic presence in the country. Vice President Yemi Osinbajo stated this during an interaction with a delegation from Chartered Institute of Taxation of Nigeria (CITN), led by its President, Adesina Adedayo, at the Presidential Villa. Osinbajo’s spokesman, Laolu Akande, made this known in a statement on Sunday in Abuja, “While the Federal Government will not be raising tax rates at this time, based on the Finance Act 2019, it is already empowered to widen the…
December 24, 2024

Banks and telecom operators ordered to resolve N250bn USSD debt

The Central Bank of Nigeria (CBN) and Nigerian Communications Commission (NCC) have issued a joint…
December 20, 2024

Atiku questions alleged hack of NBS website, says timing suspicious

Former Vice President Atiku Abubakar has raised concerns over the recent claim that the website…
December 24, 2024

How to instantly become whatever you want to be: A tale of Ferraris, stoic philosophers, and entrepreneurs

First, a couple stories. One: A good friend of mine owns a handful of Ferraris,…
December 21, 2024

‘Professional Back-Scratchers’ charge up to $130 per hour

The Scratcher Girls is an unconventional relaxation therapy studio that charges clients up to $130…
December 21, 2024

NAFDAC busts illegal rice repackaging operations in Nasarawa, Abuja

The National Agency for Food and Drug Administration and Control (NAFDAC) has cracked down on…
December 24, 2024

Here’s the latest as Israel-Hamas war enters Day 445

Israeli defense minister claims responsibility for first time for Hamas leader Haniyeh's assassination Israeli Defense…
December 20, 2024

OpenAI launches voice and text access to ChatGPT through new phone service

OpenAI has introduced a novel way to interact with its popular ChatGPT artificial intelligence system…
December 17, 2024

Ademola Lookman named 2024 CAF Men’s Player of the year. These players won in other…

Ademola Lookman, the Super Eagles winger, was crowned the 2024 CAF Men’s Player of the…

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