MWUN Threatens Strike Action Over Unpaid Salaries
The Maritime Workers Union of Nigeria (MWUN) has issued a stern warning to the Council for the Regulation of Freight Forwarding (CRFFN), threatening to withdraw its services from ports and jetties if the council fails to pay its members their outstanding nine-month salary arrears. The union expressed deep concern over the ongoing financial crisis at CRFFN and accused the management...
Baobab Nigeria Offers Internship Opportunities to NYSC Members and Students
Baobab Nigeria, a leading microfinance bank, has organized a one-day internship program for members of the National Youth Service Corps (NYSC) and students as part of its 2024 Customer Service Week celebration. The internship was open to customers of the bank's digital savings platform, Jollof+. The internship provided participants with an immersive experience, allowing them to learn from industry experts...
Coronation Group Highlights the Power of Art and Gender Inclusivity in Wealth Creation
Coronation Group has reaffirmed its commitment to supporting initiatives that promote the appreciation of Africa's rich arts heritage. The company's Chief Marketing and Communications Officer, Ngozi Akinleye, emphasized the significance of art as an investment class, cultural asset, and reflection of societal values. The recently concluded 2024 Coronation Art Gallery exhibition showcased the synergy between art, wealth, and gender inclusivity....
ASHON Calls for Urgent Review of Stockbroking Fees and Margin Trading Reinstatement
The Association of Securities Dealing Houses of Nigeria (ASHON) is advocating for an increase in stockbroking fees and the reinstatement of margin trading. ASHON Chairman Sam Onukwue highlighted these demands during the association's annual general meeting. Onukwue noted that the current stockbroking fee of 1.35% has remained unchanged for many years, despite rising inflation. He emphasized the need for a...
World Bank Predicts Continued High Interest Rates for Nigeria, Angola, and Sierra Leone
The World Bank has forecasted that Nigeria, Angola, and Sierra Leone will likely maintain high interest rates for an extended period due to their persistent double-digit inflation and weakened domestic currencies. In its latest Africa’s Pulse report, the World Bank analyzed the inflation outlook across African countries. Despite some nations reducing or holding their benchmark rates, the Central Banks of...
Nestle Cuts Sales Growth Forecast Amid Leadership Reshuffle
Nestle, the global food giant, has lowered its sales growth expectations for 2024 and announced a leadership reshuffle. The move comes as the company grapples with a decline in sales and a series of product scandals. Laurent Freixe, the newly appointed CEO, who took over from Mark Schneider on September 1, has implemented significant changes to the company's structure. Freixe,...
Darun Noor Emerges as National Company of the Year Winner
A school from Kano State, Darun Noor by Intercontinental Schools, has clinched the title of National Company of the Year in a competition sponsored by FirstBank. The school outperformed 11 other schools from across Nigeria to claim the grand prize, which includes a chance to represent Nigeria at the African Company of the Year competition in Mauritius. The annual event,...
CBN Facilitates Refunds Worth N7.05 Billion to Customers
The Central Bank of Nigeria (CBN) has announced that commercial banks operating in the country have refunded a significant sum of N7.05 billion and $714,569.03 to their customers. This development is a result of the CBN's intervention and its commitment to protecting consumer rights. The apex bank disclosed this information in its monthly bulletin, CBN UPDATE September Special Edition, which...
MAN Renews Calls for Lower Electricity Tariffs
The Manufacturers Association of Nigeria (MAN) has once again urged the Nigerian Electricity Regulatory Commission (NERC) to reconsider the recent electricity tariff increase, which has risen by approximately 250%. Segun Ajayi-Kadir, Director General of MAN, expressed concerns about the significant impact this tariff hike has on manufacturers' operations. He argued that such a substantial increase is unsustainable and could threaten...
MTN and Other Businesses Urge Government for Level Playing Field
MTN Nigeria and other multinational businesses have appealed to the Federal Government to create a more conducive business environment by providing a level playing field. The companies expressed concerns about the challenges posed by high inflation rates and foreign exchange fluctuations, which have made it difficult for them to operate effectively in Nigeria. Modupe Kadri, Chief Financial Officer of MTN, highlighted...
