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Bolt lays off some of its Nigerian employees amidst promises to increase employment in Africa

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According to the Regional Manager of Bolt for West Africa and North Africa, Ire Obatoki, the layoffs were a result of operational adjustments to foster better performance within the company.

“Bolt had to terminate work contracts with 17 of its employees in Nigeria due to an initiated strategy to improve our operational processes in the country. This was certainly not an easy decision to make, and we completely understand the frustration of the affected employees,” she said.

Affected employees, on the other hand, stated the layoff happened after the corporation promised there would be no layoffs. They were persuaded that management would just restructure, form new teams, and rearrange personnel.

They voiced their disappointment that the meeting, which they mistook for an announcement of new teams, was really to notify them that they were being laid off.

Each employee apparently received a severance package based on the length of time they had worked for the firm. Workers who had been with the firm for a year received one month’s severance, those who had been with the company for two years received two months’ severance, and those who had been with the company for less than a year received half of their monthly wage.

Bolt noted that it “offered the affected employees an additional three months of health insurance and three months of access to psychological support and a career coach to help them navigate the transition to new employment opportunities.”

The layoffs are also contrary to the promise the company made a few days ago, when they promised to increase their economic footprint on the continent, providing more jobs, and committing to a $530 million investment plan.

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Nigeria’s GDP rate grew by 3.46% in Q3 2024, says NBS

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The National Bureau of Statistics (NBS) says Nigeria’s annual gross domestic product (GDP) grew by 3.46 percent in the third quarter (Q3) of 2024.

The NBS, in its GDP report published on Monday, said the growth rate is higher than the 3.19 percent recorded in Q2 2024.

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Dangote refinery reduces ex-depot price of petrol to N970 for oil marketers

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The Dangote Petroleum Refinery has announced a reduction in its ex-depot price of premium motor spirit (PMS), also known as petrol, to N970 per litre for oil marketers.

This is a cut from the refinery’s N990 ex-depot price announced earlier this month, according to a statement on Sunday.

The slash would help marketers save about N20 on each litre of petrol bought from the Lekki-based plant.

Anthony Chiejina, Dangote Group’s chief branding and communications officer, said the move is the refinery’s way of appreciating Nigerians “for their unwavering support in making the refinery a dream come true”.

“In addition, this is to thank the government for their support as this will complement the measures put in place to encourage domestic enterprise for our collective well-being,” the statement reads.

“While the refinery would not compromise on the quality of its petroleum products, we assure you of best quality products that are environmentally friendly and sustainable.

“We are determined to keep ramping up production to meet and surpass our domestic fuel consumption; thus, dispelling any fear of a shortfall in supply.”

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Allegation of missing fund untrue, says Access Bank

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Access Bank Limited has dismissed as untrue allegations of missing fund and unethical behaviour.

The Bank in a statement said: “Our attention has been drawn to a video on social media wherein allegations of missing funds and unethical behaviour have been made against Access Bank PLC.

“First and foremost, we wish to emphasise that the safety and security of our customers’ funds are core priorities which we take seriously. Second, Access Bank Plc does not engage in or condone any unethical behaviour.

“In the instant case, the allegations of missing funds in the Bank are most untrue and baseless.

“There is no N500million or any other fund or amount missing from the subject customer’s account or from any other customer’s account with us.

“We and other independent stakeholders in the banking industry have thoroughly investigated these allegations and independently arrived at the same conclusions.

“Access Bank PLC operates with the highest ethical standards, and we protect our customers’ interests whilst also respecting privacy laws.

“Consequently, whilst we have engaged and will continue to engage with our customers, we must advise the public not to rely on or believe sensational and unverified claims that are designed to titillate and mislead the public.

“We remain committed to serving our customers.”

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Bodex F. Hungbo, SPMIIM is a multiple award-winning Nigerian Digital Media Practitioner, Digital Strategist, PR consultant, Brand and Event Expert, Tv Presenter, Tier-A Blogger/Influencer, and a top cobbler in Nigeria.

She has widespread experiences across different professions and skills, which includes experiences in; Marketing, Media, Broadcasting, Brand and Event Management, Administration and Management with prior stints at MTN, NAPIMS-NNPC, GLOBAL FLEET OIL AND GAS, LTV, Silverbird and a host of others

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