Business
Telecom workers begin strike for improve Working Conditions
About 800 workers from the Private Telecommunications and Communications Senior Staff Association have embarked on strike, threatening to cripple services nationwide.
The union, largely contract staff, warned of massive disruptions to telecom operations if its demands were not met, as this would leave millions of subscribers to face a potential communication blackout.
The strike began on Monday and the union’s demands include, among other things, reinstatement of some of its sacked workers, recognition of the union, improved working conditions, and remittance of membership dues.
“The strike has become inevitable because of the prevalent precarious working conditions our members are enduring in the sector, the refusal of the employers to recognise and respect the constitutional right of these workers to freely associate with the union, and the unjust sack of three members of the union,” it stated in its seven-day strike notice.
The union’s Secretary-General, Okonu Abdullahi, said that the association’s 800 workers play a significant role in managing critical infrastructure like base stations for infrastructure companies such as IHS, Huawei, etc.
“The implications of the strike will be massive because we have told all our members not to respond to any service outage from our employers. The fact remains that there are outages every day, and if our engineers do not respond to those outages, subscribers in those areas will be affected,” he said.
He said members of the union include field maintenance engineers, transmission engineers, customer service engineers, fibre engineers, and other critical staff working for telecom service companies.
The culpable companies include among others, Huawei Technologies Nigeria Limited, Tylium Nigeria Limited, Specific Tools & Techniques, CPNL (Chinese Pacific Networks Limited) and CITCC (China International Telecommunications Construction Corporation), JUSPARTNER.
Business
BREAKING: Uber winds down operations in Nigeria, effective September 2
“Since we first launched in Lagos in 2014, it has been an absolute privilege to be a part of your daily life connecting you with independent transportation providers.”
• An Uber driver at work
Ride-hailing company, Uber, has shut down its operations in Nigeria.
In a statement, the company, which came into Nigeria in 2014, said its exit is effective from September 2, 2026.
“After a thorough review, we have taken the difficult decision to wind down operations in Nigeria, effective September 2, 2026.”
“Since we first launched in Lagos in 2014, it has been an absolute privilege to be a part of your daily life connecting you with independent transportation providers.
“Whether it was a morning commute, a ride to see loved ones, or exploring the city, thank you for trusting the platform to connect you to a driver to get you there safely. We know this may cause disruption to your routine, and we sincerely apologize for the inconvenience.”
Uber said said its plan is to support drivers, riders and local team members through the transition.
Business
Allawee shutting down operations by December 1, warns customers must withdraw by November 30
Allawee warned that payments sent to its account numbers from December 1, 2026 will fail, while its cards will also stop working, regardless of the expiry dates printed on them.
• Allawee logo
Nigerian card-issuing fintech Allawee is shutting down its business and personal account services from December 1, 2026.
This follows its acquisition by Pay Stack.
Accordingly, customers have been given until November 30 to withdraw their funds and make alternative arrangements.
The company disclosed the decision in emails sent to customers, according to TechCabal, explaining that its technology now operates within Paystack following the latter’s acquisition of Allawee in 2025.
Allawee warned that payments sent to its account numbers from December 1, 2026 will fail, while its cards will also stop working, regardless of the expiry dates printed on them.
Customers have been advised to withdraw their balances before the deadline, provide new bank details to people or businesses that regularly pay them, and replace saved Allawee card information on subscriptions and other recurring payments.Allawee said customers would not lose their money because of the shutdown. “Your money will remain yours,” the company said.
Business
Naira Exchange Rates Wednesday, September 2
BLACK MARKET RATES
US Dollar (USD) ₦1,400
Great British Pound(GBP) ₦1,890
EURO (EUR) ₦1,580
Canadian Dollar (CAD) ₦1,020
South African Rand (ZAR) ₦75
Ghana CEDI (GHS) ₦95
West African CFA Buy ₦2, 300
CENTRAL AFRICAN CFA Buy ₦2,150
CBN Exchange Rates
US Dollar (USD) ₦1,329.43
Great British Pound (GBP) ₦1,800.18
EURO (EUR) ₦1,542. 01
Swiss Franc (CHF) ₦1,637.63
Chinese Yuan (CNY) ₦197.79
Japanese Yen (Yen) ₦8.31
West African CFA (XOF) ₦2.36
West African Unit Account (WAUA) ₦1,823.95
Saudi Riyal (SAR) ₦354.08 South African Rand (ZAR) ₦82.47
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