Business News

You’ve probably heard that you shouldn’t let your emotions drive your financial decisions. Yet that may be harder than it sounds, especially when the market sells off. In fact, there may be a number of psychological biases holding you back from building wealth. That’s because the part of our brain that allows us to imagine the future doesn’t move as fast as the part that governs emotions, explained certified financial planner Michael Finke, professor of wealth management at The American College of Financial Services. “The emotional part of our brain was effective when doing things like avoiding saber-toothed tigers, but…
Guaranty Trust Bank has announced the appointment of Miriam Olusanya as Managing Director. This was disclosed in a notice signed by the company’s secretary, Erhi Obebeduo, to the Nigerian Exchange Group Limited (NGX). Olusanya, the first female Managing Director in the bank’s history, succeeds Segun Agbaje. During the bank’s investor earnings in September, Agbaje had disclosed that GTBank was looking for its next Managing Director. According to him, five of the bank’s Executive Directors were in line for the top job and were at the concluding stages of the recruitment process Olusanya, until her appointment, was an Executive Director at…
For most people, globalization has for decades been another name for across-the-board liberalization. Starting mainly in the 1980s, governments allowed goods, services, capital, and data to move across borders, with few controls. Market capitalism triumphed, and its economic rules applied worldwide. As the title of Branko Milanovic’s latest book correctly states, capitalism was finally alone. True, there were other aspects of globalization that bore little relation to market capitalism. The globalization of science and information broadened access to knowledge in unprecedented ways. Through increasingly international civic action, climate campaigners and human-rights defenders coordinated their initiatives as never before. Meanwhile, governance…
CEO of Berkshire Hathaway says, 'if you're going to get someone without integrity, you want them lazy and dumb.' Honesty and integrity are in critically short supply these days. To Warren Buffett, arguably the world's most successful investor, integrity is a non-negotiable to establishing high-trust teams. In a 1998 speech at the University of Florida, Buffett gave MBA students a business lesson for competitive advantage that comes from having integrity be the guide to your business decisions. And it starts with whom you hire. Buffett said: We look for three things when we hire people. We look for intelligence, we…
Conventional wisdom says knowledge is power, and earlier in my career I always associated this mantra with those leaders who protected and validated their positions by hoarding and hiding knowledge from their competitors -- and often their colleagues -- as a power play. But recently, this age-old adage has taken on a new meaning for me. As we’ve built our business, I’ve realized this concept, that knowledge is power, can also be interpreted and applied in the workplace in a really positive way. A happy and productive workplace is one that shares information freely to empower employees. This is a…
Between January 2017 and March 2021, Nigeria spent N40.94tn on the importation of manufactured goods. It earned only N4.22tn on the export of manufactured goods within the same period. These are according to data obtained from the Foreign Trade report of the National Bureau of Statistics. In the review period, total value of imports was N66.43tn and total value of exports was N67.30tn. Manufactured goods dominated the import bill but contributed little to the export receipts of the nation. Nigeria’s exports were dominated by crude oil according to statistics obtained from the NBS. In the review period, the nation exported…
Nigerian fintech and lending startup Lidya announced that it has completed its $8.3 million pre-Series B funding round. Alitheia Capital led the investment via its uMunthu Fund. Other investors that participated include Bamboo Capital Partners, Accion Venture Lab and Flourish Ventures. In addition to the $1.3 million seed round secured in 2017 and $6.9 million Series A a year later, Lidya has raised a total of $16.5 million. This investment will see Lidya grow its lending operations for small and medium businesses across its markets. The idea for Lidya came about in Nigeria when Tunde Kehinde and Ercin Eksin saw…
Nigeria received about $8.4bn investment announcements as at 4th March 2021, out of which $5.46bn was pledged by foreign investors. The remaining $2.08bn was promised by domestic investors, statistics obtained from the Nigerian Investments Promotion Commission showed. The sum pledged by foreign investors in Q1 2021 is 27.5 per cent lower than the $7.54bn foreign investment announcements recorded by the NIPC in the preceding quarter. However, the Q1 foreign investment profile was 36.5 per cent higher than the $4.02bn reported in the corresponding period in 2020, but was 56.6 per cent lower than the S12.6bn recorded in the same period…
When you think of the typical small business do you think of the savvy and beautiful actor Anne Hathaway, who ran a Brooklyn-based fashion startup in The Intern? Or maybe you’re thinking of Jesse Eisenberg’s portrayal of Mark Zuckerberg in The Social Network? TV ads show young and energetic entrepreneurs hustling their way to success. Business magazine covers at the airport feature the cool kids making cool millions. These are the young and beautiful faces of entrepreneurship that the media loves. The reality is the face of small business looks a lot more like me. I’m 56 and I own…
Nigerian stocks weakened further on Friday as the benchmark index narrowed by 1.24 per cent, taking a bashing from investors’ frantic efforts to swiftly dispose shares and cash in after gains had gradually accumulated for some days. Shares began to plateau on Thursday, but the downward shift gained pace by as much as N247 billion the session after as the bears stormed the mark in full force with their eyes on the heaps of gains garnered in the nine days to July 4. At the forefront of the retreat was Airtel Africa, with Vitafoam, NAHCO and Eterna also stoking the…
June 26, 2025

How to ace a job interview in 90 seconds, from an Ivy League communication expert

Sophie Caldwell You only have about 90 seconds to make a strong first impression in…
June 26, 2025

Peter Obi decries ‘coordinated lawlessness’ after brother’s property is demolished in Lagos without court order

Former presidential candidate Peter Obi has condemned what he described as a brazen act of…
June 23, 2025

The reason even successful people struggle to get out of bed some days

Sometimes after a long, productive day, I only have the energy to scroll on social…
June 21, 2025

Man convicted of posing as flight attendant to fly for free 120 times

A 35-year-old American man has been found guilty of impersonating a flight attendant at least…
June 26, 2025

17 soldiers killed, dozens injured in fierce gun battles with terrorists in Niger, Kaduna

Seventeen soldiers have been confirmed dead and at least ten others injured following coordinated attacks…
June 26, 2025

Here’s the latest as Israel-Hamas war enters Day 629

Seven Israeli soldiers killed in Gaza, pressure on Netanyahu for ceasefire The Israeli military said…
June 25, 2025

Tesla robotaxi launch: Why getting from dozens to millions of self-driving cars won't be easy

Tesla (TSLA.O) finally has a robotaxi. Now comes the hard part. The electric-vehicle maker deployed…
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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