Business News

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…
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…
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…
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…
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…
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…
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…
Chinese state energy major PetroChina has been waiting to unload a cargo of U.S. crude at Nigeria's giant new refinery for nearly a month due to payment issues, according to four trading sources and shipping data. The impasse highlights difficulties the $20 billion plant funded by Africa's richest man Aliko Dangote faces in its aim to be the biggest refinery on the continent and in Europe when it reaches full capacity this or next year. Dangote aims to reverse the trend by which the oil-rich country exports its crude but almost totally relies on imports of fuel and other refined…
Key Takeaways Small businesses could significantly improve their odds by starting the right business at the right time and taking the right steps. Don't rush the following steps. They set the foundation for beating the odds and growing a great business. There is no such thing as the perfect time to start a business. I know. Growing up in a family business, I always thought I would love to own my own business, but I was waiting for the perfect time. Then, I got fired from my job in broadcasting and had to decide what to do. Was I ready…
Key Takeaways Investing in yourself will always pay off. Though you may not see immediate results, its steadiness propels growth and ensures you are equipped to carry on for the long run. Contrary to popular belief, reaching professional goals doesn't always have to equate to revenue. Although money makes a difference when growing your brand and solidifying your place as a successful entrepreneur, make sure you're investing in yourself in other ways as part of a long-term strategy. Sometimes, that means creating (and sticking to) healthy daily habits. In other instances, it may mean a small monetary investment for a…
January 09, 2025

This is the ‘biggest barrier to building wealth,’ says behavioral finance expert

I’ve been meaning to sell some company stock and diversify into another investment for awhile…
January 10, 2025

Bauchi Gov to Tinubu: Your policies not working, hardship worsening

Governor Bala Mohammed of Bauchi State has urged President Bola Tinubu to address the growing…
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Detty December: ‘an ode to Nigeria’s unyielding spirit’

It’s a world of endless parties and sleepless nights. A relentless celebration that turns West…
January 04, 2025

Shy man cuts off 4 fingers instead of telling boss he wanted to quit his…

A 32-year-old Indian man admitted to cutting off four fingers on his left hand to…
January 08, 2025

Borno attack: Soldiers missing, casualties mount after base overrun

Four days after Boko Haram militants launched a deadly assault on a military base in…
January 10, 2025

What to know after Day 1051 of Russia-Ukraine war

RUSSIAN PERSPECTIVE Kremlin ‘would welcome’ contact from Trump Moscow would be willing to talk to…
December 25, 2024

Stem cell therapy to correct heart failure in children could 'transform lives'

Renowned visionary English physician William Harvey wrote in 1651 about how our blood contains all…
January 08, 2025

NFF appoints new Super Eagles head coach

The Nigeria Football Federation (NFF) has appointed Éric Sékou Chelle as the new Head Coach…

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