The Federal Government has released Guidelines on Labour and Administration Issues in Contract Staffing/Outsourcing Non-Permanent Workers in Banks, Insurance, and Financial Institutions in Nigeria. What’s in the guideline? After a decade of discussions and negotiations among stakeholders, the employment guidelines, which were signed into law on September 8, 2022, by the Minister of Labour and…
So, the other day I almost missed an import contract interview because of a power outage. It was early morning and we were awoken by the sound of a loud bang. It sounded like someone had just thrown a small rock at our window. The noise was so loud that it woke up my wife…
Despite multiple waves of international sanctions on Russia following its invasion of Ukraine, the E.U. and U.S. have both increased their imports of Russian industrial metals compared to 2021. What are the figures?According to a report by Reuters, E.U. imports of Russian aluminum increased by 13% in the March-June period of this year, while U.S….
The Central Bank of Nigeria (CBN) has granted a Switching and Processing License to the growing Nigerian Fintech company, Flutterwave. What’s the License for? With the license, which is regarded as the CBN’s most valuable payments processing license, Flutterwave will be able to offer transaction switching and card processing services to customers. It allows Flutterwave…
Lagos state government has vowed that it would not go back on its decision to enforce the ban on motorcycle activities in the additional four Local Government Areas and six Local Council Development Areas in the state, warning that violators of the ban, whether motorcycle riders or passengers will be prosecuted in accordance with the…
In a bid to put an end to the unethical activities and exploitative practices of some digital money lenders, the Federal Competition and Consumer Protection Commission, FCPCP, says it has ordered Telecommunication/Technology companies, including Mobile Network Operators and Digital Payment Systems to stop providing services to digital money lenders, who are currently under investigation for…
National Broadcasting Commission says it has revoked the operating licenses of somemajor broadcasting media firms in the country over their refusal to renew their licenses.Announcing the revocation at a Press Briefing in Abuja, the Director-General of NBC,Balarabe Shehu Ilelah instructed the affected stations to shut down operations within thenext 24 hours. Which stations do the…
Nigeria’s forex crisis was again brought to the fore yesterday as Emirates airlines announced the suspension of its operations in Nigeria from September 1, 2022. Foreign airlines operating in the country have expressed concern over their inability to repatriate their earnings from Nigeria. There’s been no change in the situation despite efforts that included reaching…
Aviation industry players in Nigeria have expressed concern that the sector may soon collapse if current trends are not immediately halted. What trends? Industry stakeholders are growing anxious as a result of the ongoing increase in the price of aviation fuel, also known as jet A1, as they express concerns that the sector may collapse…
Manufacturers in Nigeria have expressed increased confidence in the Nigerian economy. Really? This was revealed in the Manufacturers CEO’s Confidence Index (MCCI) report for the second quarter of 2022. The Manufacturers’ confidence rose by 0.7% to 54.6 points in Q2 from 53.9 points in the previous (first) quarter of the year. The report, which was…
