Nairaland Pulse | News

🗣PZ Cussons Plans to Exit Africa Due to Naira Depreciation PZ Cussons Plc, the parent company of PZ Cussons Nigeria, has announced plans to sell its African subsidiaries, citing the sharp depreciation of the Naira as the main reason. The company is considering either a partial or full sale to reduce exposure to currency fluctuations. PZ Cussons reported a £107.5 million foreign exchange loss, primarily from its Nigerian operations, and received several offers for its African business. The proceeds will be used to reduce the company’s debt. Nairaland Pulse News | Subscribe

🗣Lagos Seals Idera Market in Oshodi Over Environmental Violations The Lagos State Government, through its Environmental Sanitation Corps (LAGESC), has sealed Idera Market in Oshodi for failing to comply with environmental laws. The market was closed due to poor hygiene, filth, and improper waste disposal. Authorities warned that other markets across the state could face similar actions if they fail to meet hygiene standards. Nairaland Pulse News | Subscribe

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🗣FG Warns Private Companies on N70,000 Minimum Wage The Federal Government has warned private companies to comply with the N70,000 minimum wage law. Failure to implement the law could result in jail time, according to Alhaji Ismaila Abubakar, Permanent Secretary of the Ministry of Labour and Employment. Speaking at an event in Lagos, Abubakar emphasized that paying less than N70,000 to workers is a punishable offense, urging employers to ensure compliance. Nairaland Pulse News | Subscribe

🗣Microsoft President Warns of Foreign Meddling in U.S. Election Microsoft President Brad Smith has cautioned that foreign interference, particularly from Russia, Iran, and China, may attempt to disrupt the upcoming U.S. presidential election. He emphasized the risk is greatest in the 48 hours before the vote. Smith shared an example from Slovakia’s election last year, where Russian actors used deep fake audio to influence the outcome. He warned these countries aim to discredit democracy and manipulate the election, which could be a race between Donald Trump and Kamala Harris. Nairaland Pulse News | Subscribe

🗣EMT Foundation Transforms Lives in Niger Delta with Skills Training The Esther Matthew Tonlagha Foundation (EMTF) has empowered 17 young men and women in the Niger Delta through a free skills acquisition program. At the graduation ceremony on September 13, 2024, in Effurun, the participants were awarded starter packs to launch businesses in catering, makeup artistry, event management, and barbing. This initiative aims to reduce unemployment and foster self-reliance, providing graduates with the tools needed to build sustainable livelihoods and transform their futures. Nairaland Pulse News | Subscribe

🗣Naira depreciated to N1,656.49 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) yesterday, according to FMDQ data. This marks a N109.98 drop from last week’s rate of N1,546.51 per dollar. However, the Naira strengthened to N1,640 per dollar compared to N1,660 over the weekend, narrowing the gap between the parallel market and NAFEM rates to N16.49 per dollar from N113.59. Nairaland Pulse News | Subscribe

🗣Obasanjo Reveals Abdulsalami Almost Cost Nigeria $280m Telecom Deal Former President Olusegun Obasanjo disclosed how Nigeria nearly lost a $280 million telecom deal under former military leader Abdulsalami Abubakar. Abubakar wanted to award the contract for $3 million to friends, but Obasanjo pushed for an auction, leading to the $280 million sale. Obasanjo shared this story at the launch of Dayo Oketola’s book on Nigeria’s ICT evolution. Nairaland Pulse News | Subscribe

🗣Lebanon Closes Schools After Pager Explosions Lebanon’s Education Minister ordered the closure of all schools and universities on Wednesday after a pager attack killed nine and injured 2,800 people. Hezbollah blamed Israel for the explosions, which primarily targeted its members. Nairaland Pulse News | Subscribe

🗣Nigeria to Boost Local Airlines, Reduce Dependence on Foreign Carriers Nigeria’s Aviation Minister, Festus Keyamo, announced plans to limit the dominance of foreign airlines like Ethiopia and Egypt in Nigerian airspace. Speaking at the International Route Development Conference in Moscow, Keyamo emphasized strengthening local airlines to capture more of Nigeria’s air traffic, with a focus on expanding international routes, including direct flights to Brazil. Nairaland Pulse News | Subscribe