Business

AI to eliminate 40% of global jobs – IMF boss

She described AI as a “slow-moving tsunami” for the labour market, saying it could augment, downgrade or eliminate jobs.

Published

3 weeks ago

October 12, 2026

OCHEFA

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•Kristalina Georgieva

The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, says Artificial Intelligence (AI) could affect about 40 per cent of jobs globally, urging governments to prepare workers for the changing labour market.

Ms Georgieva said this during a panel session on “Small Scale AI: More and Better Jobs” at the 2026 IMF/World Bank Annual Meetings in Bangkok, Thailand, on Monday.

She described AI as a “slow-moving tsunami” for the labour market, saying it could augment, downgrade or eliminate jobs.

According to her, IMF estimates show that AI could affect about 60 per cent of jobs in advanced economies and 23 per cent in low-income countries

Business

Naira Exchange Rates Thursday, 5 Nov 2026

Published

5 hours ago

November 5, 2026

OCHEFA

54 Views

BLACK/ PARALLEL MARKET RATES

₦1400DOLLAR (USD)

₦1830POUND (GBP)

₦1515 EURO (EUR)

₦950 CANADIAN DOLLAR (CAD)

₦70 SOUTH AFRICAN RAND (ZAR)

₦350 UAE DIRHAM (AED

₦190 Chinese YUAN (CNY)

₦100 Ghanaian CEDI (GHS)

West African CFA ₦2240 (XOF)

Central African CFA ₦2180 (XAF)

₦820 Australian Dollar AUSSIE (AUD)

Business

NNPCL wants to sell 10% equity via IPO on NGX, LSE

NNPC is expected to spend at least the whole of 2027 preparing for the proposed offering, with the listing primarily intended to strengthen corporate transparency and governance in line with Nigerian law.

Published

1 day ago

November 4, 2026

OCHEFA

101 Views

The Nigerian National Petroleum Company Limited (NNPC Ltd.) is considering selling between 5% and 10% of its equity through a potential initial public offering (IPO), with the proposed listing expected to focus primarily on Nigeria’s domestic capital market.

The Group Chief Executive Officer of NNPC Ltd., Bashir Bayo Ojulari, disclosed this in an interview with Reuters on Tuesday, November 3, 2026, adding that the company could also pursue a secondary listing in London or New York.

The disclosure comes shortly after the Dangote Petroleum Refinery’s IPO closed on October 27, following a two-week extension of its subscription period from the initial October 13 deadline.

Ojulari indicated that raising additional capital would be a secondary consideration rather than the main reason for going public.

The company is also considering listing some of its subsidiaries separately, following a model adopted by Abu Dhabi National Oil Company (ADNOC), the United Arab Emirates’ state-owned oil company.

Beyond the potential IPO, Ojulari disclosed that Chinese companies have expressed interest in acquiring equity stakes in some of NNPC’s smaller refineries, particularly the Port Harcourt and Warri facilities, which require substantial rehabilitation.