Business News

Wednesday, 31 May 2023 04:42

Nigeria Eurobonds, stocks rally on Tinubu pledges to end fuel subsidy, merge exchange rates

Nigeria's sovereign dollar-denominated bonds rallied on Tuesday after new President Bola Tinubu said at his swearing-in that a costly fuel subsidy would be removed and the central bank should work towards a unified exchange rate. Rating agency Moody's said Tinubu's readiness to confront these issues was "credit positive" but warned they risked a transitional period of higher inflation, weaker economic activity and more social discontent. Eurobonds rose as much as 3 cents in the dollar, with the 2029 maturity at 87.25 cents by 1251 GMT. Its yield of 11.43% was the lowest since the end of January. The naira currency…

Wednesday, 31 May 2023 04:32

The secret weapon to hiring the right person every single time

When it comes to hiring new team members, there are a lot of things that you can do to help find the best candidate for the position. Having a solidly written job description, looking in the right places or enlisting the help of a recruiter and having well-thought-out interview questions that help capture the skills and weaknesses of the candidates will all make a huge difference in who you ultimately end up hiring for the position. But there is one often overlooked, but powerful secret weapon that can really make the difference when finding the right candidate for an open…

Tuesday, 30 May 2023 03:43

5 ways to inspire creativity and innovation in your employees

Help your team think outside the box by putting these five tips to work for you. How do you inspire people to open their minds in a way that unlocks the creativity within your organization and achieves the best results? Let me share a story about how a former colleague in the advertising industry attained legendary status for his ability to unlock creativity (and have a great time in the process). His goal was to change the way products were marketed in his client’s business. He wanted his team to think in entirely fresh ways about their jobs and change…

Monday, 29 May 2023 04:11

New study of 100,000 workers says having a tough job leads to this surprising health benefit

Maybe think of this before you quit or opt for early retirement. Here we are in the midst of the Great Resignation, with people in all lines of workconsidering whether it's really worth it to them to continue the paths they're on. Then, from out of almost nowhere comes a new health study suggesting you might want to think twice about ditching your job. In short, if your work is challenging, stimulating, demanding, and involves high levels of responsibility, the mental workouts you give your brain each day may help safeguard you against what is probably the medical condition most…

Saturday, 27 May 2023 04:38

Naira Falls in parallel market on exchange rates harmonisation fears

Nigeria’s currency weakened in the parallel market to the lowest level in a year on expectations of a possible change in exchange-rate management after Bola Tinubu takes office as president on Monday. The naira dropped to 775 per dollar on Friday from 762 the previous day in the unauthorized market in Lagos, said Umar Salisu, an exchange-bureau operator who tracks the data in the nation’s commercial capital. The unit has weakened steadily in the parallel market since last week after stabilizing for most of this year. Expectations that the incoming president will push for harmonization of foreign-exchange rates is encouraging…

Friday, 26 May 2023 04:42

NNPC sets agreements with Total, CNOOC on deepwater oil block

Nigeria's state-owned oil company NNPC Ltd said on Thursday it had renewed a production sharing contract with Total, China National Offshore Oil Corp and others, a major step to resolving disputes on a deepwater oil block in the Niger Delta. Oil Mining Lease 130 is located offshore Niger Delta at water depths of over 1000 meters. The block contains the producing Akpo and Egina fields and the Preowei discovery. NNPC said in a statement that the agreements will pave the way "to firm up final investment decision on the Preowei amounting to USD$ 2.1 billion." NNPC said the agreements would…

Friday, 26 May 2023 04:32

How to stay motivated after a failure

Entrepreneurs tend to have common personality types. Entrepreneurs are known for their go-get-em attitude, for looking before they leap, and for taking risks! With big risks come big successes, but also major failures. So what happens after we fall? How do we keep our entrepreneurial drive intact and take another swing at a potential home run? Let's face it, failing is hard, and it's even harder when what failed was something that matters to you. We all know our businesses are our babies! So yes, any career setback is like taking a punch to the gut. Whether it is a…

Thursday, 25 May 2023 04:09

'Cash is king': Self-made millionaire shares the 'most outdated' life advice young people need to ignore

It's graduation season, which means many parents will observe a sacred rite of passage: dispensing terrible life advice to their kids. Mom and dad mean well. But the class of 2023 will enter a job market during one of the worst periods of uncertainty since the 2008 financial crisis. I've endured similar crises, from growing up in poverty, to dropping out of high school to care for my disabled mother, to holding down two jobs while earning my college and law degrees. Throughout my trials and my journey to becoming a self-made millionaire, bestselling author, CEO and investor, the one…

Wednesday, 24 May 2023 03:38

132 Microfinance banks, others lose operating licenses as CBN drops the hammer

Central Bank of Nigeria has revoked operating licences of 132 microfinance banks, four primary mortgage banks, and three finance companies in the country. The revocation exercise was disclosed in the official gazette of the Federal Government published on the website of the CBN on Tuesday. According to the gazette, licences of the financial institutions were revoked because they ceased to carry on in Nigeria, the type of business for which their licences were issued for a continuous period of six months. They were also alleged to have “failed to fulfil or comply with the conditions subject to which their licences…

Wednesday, 24 May 2023 03:33

3 simple questions to assess whether your job candidates have emotional intelligence

When it comes to leading yourself and others, emotional intelligence – the ability to understand and manage our own emotions and understand and influence the emotions of others – is just as important as IQ, if not more. Here's why: When you get good at being aware of your emotions and the emotions of others, you can connect with others much more effectively to reach solutions faster. A person's IQ, while certainly required in the role of a leader, cannot travel the same road as fast. It needs to partner with EQ. Interviewing and Hiring for Emotional Intelligence Organizations looking…

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Tuesday, 23 May 2023 03:46

Why your employees just don't get it. (It's not because they're stupid)

There are basic barriers to learning that can stop even the most intelligent person from understanding something. Your small business is no different than a big company in that everybody you have on your payroll is there because they bring something great and unique to the table. But, unlike a big company, you probably have to do all your training yourself, and often the most realistic way to get people working quickly is through on-the-job work and training where the new hire watches you or another employee. Many times you thought you explained something very clearly yet the new hire…

Monday, 22 May 2023 04:23

3 steps to heal your relationship with money

Brandon Hatton, an Entrepreneurs' Organization (EO) Accelerator member in Miami, founded Conscious Wealth to provide wealth management services that help people live with purpose and create impact. Brandon is on a quest to build a conscious wealth movement at scale, so he created Conscious Wealth Living to provide actionable tools for people to heal their relationship with money, facilitate healthy intergenerational dialogues about money, and overall help individuals and families find confidence in having enough money. When we think of money, we think of all the things we can do with it. What is all too often overlooked is what…

Friday, 19 May 2023 05:06

Dangote Refinery to receive first supply of 300,000bpd crude oil from NNPCL next week

As the Dangote Refinery begins operations next week, the supply of 300,000 barrels of crude oil per day by the Nigerian National Petroleum Company Limited to the facility is going to commence, Group Chief Executive Officer, NNPCL, Mele Kyari, announced on Thursday. Kyari, who disclosed this at the ongoing 4th Nigerian Oil and Gas Opportunity Fair in Yenagoa, Bayelsa State, also urged all stakeholders to join the national oil company in growing crude oil and gas production in Nigeria. He said the NNPCL, which had 20 per cent stake in the refinery, was ready to meet its crude supply obligations…

Thursday, 18 May 2023 04:06

Increase employee retention with these 4 tips

It can take months or even years to recover from losing a key team member. Employee turnover is always a stressful situation. For many businesses it can take months or even years to recover from losing a key team member, especially if you struggle with hiring and onboarding employees. So the best way to protect your business is to take steps now to increase employee retention and avoid having tofind a replacement in the first place. Here are my four tips to increasing employee retention for your small to medium sized business. Acknowledge The Talent That You Have on Your…

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