Business

The Nigeria Employers’ Consultative Association (NECA), on Friday, raised the alarm over the consequences of ongoing divestment of multinationals in Nigeria. The body said no fewer than 20,000 direct employees have lost their jobs to such divestments in recent times. NECA, which ia the umbrella body for employers and the voice of business in Nigeria, raised the alarm in a …

The Acting Governor of the Central Bank of Nigeria (CBN), Folasodun Sonubi, said on Monday the apex bank would adopt new measures to stabilise the naira against the dollar in the coming days. He stated this in a chat with State House Correspondents after a meeting with President Bola Tinubu at the Presidential Villa, Abuja. The meeting took place a …

MTN Foundation has announced the opening of applications to the MTN ICT and Business Skills Training, a youth development initiative “aimed at equipping young entrepreneurs between 18 and 35 years with tech enabled skills to keep their small businesses relevant and competitive”. The Foundation says the training will be delivered through a 5-week online programme which includes Masterclasses from key …

Nigerian households and small businesses looking to acquire solar panels, batteries, inverters, and other green energy equipment now have access to as much as N10 million to buy these assets through the First City Monument Bank (FCMB) Energy Finance Loan. The loan is designed to help homes and small businesses like hospitals, schools, restaurants, bars, stores, hotels, and fashion places …

Just recently the delegates at the Fifth International Conference on Chemicals Management (ICCM5), in Bonn, Germany, adopted a global framework for a planet free of harm from chemicals and waste. HELEN OJI reports. The framework is based around 28 targets that aim to improve the sound management of chemicals and waste. Governments have committed to create the regulatory environment to reduce chemical …

The naira exchanged for N742.10 to a dollar at the Investors and Exporters window on Tuesday. The local currency appreciated by 4.06 percent compared to the N773.50 it exchanged for against the dollar on Monday. The open indicative rate closed at N761.24 to the dollar on Tuesday. READ ALSO: Naira to Dollar exchange rates drop in official and black markets …

Nigeria’s foreign exchange reserves have fallen by $1.6bn to $32.97bn since the Central Bank of Nigeria (CBN) announced the unification of the exchange rate to unify the country’s foreign exchange rates. As of June 15, 2023, when the naira was allowed to float, the country’s gross FX reserves stood at $34.62bn. However, the foreign exchange reserves fell to $32.97bn as …

In a bid to further enhance the regulatory functions of the council, the Environmental Health Council of Nigeria, (EHCON), has set a new practice standard for the improvement of environmental health practices. The Registrar/CEO, of EHCON, Dr. Yakubu Mohammed Baba, disclose this recently while declaring open a technical review on draft guidelines for environmental health practice, in Abuja.  He said …

Investors in Nigeria’s capital market raked in N185 billion profit on Tuesday, December 5, 2023, as trading activities on the floor of the Nigerian Exchange Group closed positively as the All-Share Index gained 0.43% and increased to 71,250.17 from 70,946.83 recorded at the close of the previous trading day. Market capitalization increased today by N165.99 billion to N38.99 trillion from …

Investors in the Nigerian capital market lost N300 billion at the close of trading on Tuesday. This followed the crash in the market capitalization by 0.79 percent from N36.83 trillion to N36.53 trillion at the close of business today. Similarly, the All-Share Index dipped by 535.98 basis points to close at 66,296.18, down from 66,760.2 posted by the bourse on …