Economy
Are You Looking After Your Domestic Worker?
Domestic workers are integral to many of our homes, but are you making sure the person who keeps the wheels of the house turning while you’re at work is being treated fairly? Read on for five ways you can make a difference in her life.
The small details count
If you think about how lovely it is to have small perks at your work, the same holds true for your domestic worker. Tiny details can make a big difference, such as giving her the household’s Wi-Fi password so that she can listen to music on her phone while working, and by creating a dedicated space where she can put her handbag or bag down and safely keep items like toiletries to freshen up with after a long day’s work.
“Many domestic workers live lives that are more challenging than most of us could ever imagine, so think of things you can do to make her life easier,” says Aisha Pandor, CEO of SweepSouth Connect, a new on-demand home services company in Nigeria. “For instance, if you are able, pick her up at the public transport drop-off point closest to your home. It’s an empathetic gesture that saves her time, allowing her to spend more quality time with her family.”
Create a relationship
How much do you know about the individual who – very often – is at the heart of your household? A social and economic power imbalance already exists between you and your domestic worker, so make a real effort to bridge it. Ask her about her life, her family and what keeps her awake and worrying at night. A great way to build a positive relationship is by recognising areas she excels in and giving positive feedback on work done well.
Upskill your domestic worker if you can, with a cooking course, driving lessons or a course in first-aid and CPR. Learning a new skill is not only empowering, it helps her become more employable should anything happen to affect her employment status with you. If you can’t afford to pay for a course, pay it back by giving your domestic worker an hour in her working day with you to do a free course, and assist with online registration. Another lovely gesture is to give her any points or credits you’ve accumulated from retailers at the end of the year to help her buy groceries or Christmas gifts for her family.
Is she safe in your home?
Domestic workers are often alone at your home during the day, shouldering a lot of responsibility to keep the property safe and protect any children or pets left in their care. Have regular talks about safety and security protocols so that she knows exactly what to do in case of an emergency, and have the numbers of local emergency, medical and police services on display.
Always inform your domestic worker about any contractors coming to work on your premises during the day and caution her to never open the door for strangers, regardless of the story they give. The media is full of reports of criminals conning their way into homes then assaulting and tying up domestic workers before ransacking the house. Take every safety precaution you can – your domestic worker also has a family she wants to safely get home to at the end of the day.
Make sure that what you pay is fair
Domestic workers are some of the most vulnerable members of the labour system, says Aisha. “Each year we conduct research into the living and work conditions of domestic workers, and our last report shows that 48 per cent of the domestic workforce are single parents and 65 per cent are the main breadwinners in the household. They are often trapped in a cycle of poverty, struggling just to make ends meet and put food on the table, so it’s heart-breaking that many of them are still being exploited in terms of long work hours and poor pay. Make sure that you pay a good wage for good work.”
There are many ways, big and small, in which you can make a difference in your domestic worker’s life, says Aisha. “Small acts of kindness, some of which are incredibly easy to do, can make a huge difference to her.”
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange rallied by 0.09 per cent on Wednesday, February 4, amid renewed appetite for unlisted stocks.
This lifted the NASD Unlisted Security Index (NSI) by 3.18 points to 3,641.30 points from the previous session’s 3,641.30 points and raised the market capitalisation by N1.9 billion to N2.180 trillion from the N2.178 trillion quoted on Tuesday.
The bourse recorded three price gainers and four price losers at the midweek session.
The advancers were led by Air Liquide Plc, which went up by N2.04 rise to end at N22.53 per share versus the previous session’s N20.49 per share, Central Securities Clearing System (CSCS) added 97 Kobo to sell at N44.97 per unit versus N44.00 per unit, and Acorn Petroleum Plc appreciated by 2 Kobo to N1.37 per share from N1.35 per share.
On the flip side, Geo-Fluids Plc lost 55 Kobo to sell at N6.26 per unit versus N6.81 per unit, Nipco Plc depreciated by 48 Kobo to trade at N259.00 per share versus N259.48 per share, FrieslandCampina Wamco Nigeria Plc declined by 40 Kobo to N63.10 per unit from N63.50 per unit, and Industrial and General Insurance (IGI) depleted by 1 Kobo to 65 Kobo per share from 66 Kobo per share.
Yesterday, the volume of trades slid by 64.5 per cent to 2.5 million units from 7.0 million units, the value of transaction decreased by 53.2 per cent to N17.7 million from N37.9 million, and the number of deals went down by 47.1 per cent to 18 deals from 34 deals.
CSCS Plc remained the most traded stock by value on a year-to-date basis with 16.0 million units valued at N652.6 million, followed by FrieslandCampina Wamco Nigeria Plc with 1.7 million units exchanged for N111.2 million, and Geo-Fluids Plc with 11.7 million units traded for N76.1 million.
CSCS Plc was also the most active stock by volume on a year-to-date basis with 16.0 million units sold for N652.6 million, trailed by Mass Telecom Innovation Plc with 13.3 million units worth N5.3 million, and Geo-Fluids Plc with 11.7 million units valued at N76.1 million.
By Adedapo Adesanya
The Naira rallied at the different segments of the foreign exchange (FX) market on Wednesday as supply continues to outweigh demand, giving it an edge against the United States Dollar.
In the parallel market, the Nigerian Naira improved its value on the greenback yesterday by N5 to quote at N1,450/$1 compared with the previous day’s N1,455/$1, and at the GTBank FX desk, it gained N3 to trade at N1,383/$1, in contrast to Tuesday’s exchange rate of N1,386/$1.
In the the Nigerian Autonomous Foreign Exchange Market (NAFEX), which is also the official market, the Naira firmed up against the Dollar at midweek by N14.63 or 1.1 per cent to settle at N1,358.28/$1 versus the preceding session’s N1,372.91/$1.
Against the Pound Sterling, the domestic currency appreciated on Wednesday by N14.16 to N1,863.43/£1 from the previous day’s N1,877.59/£1, and gained N13.73 on the Euro to end at N1,606.03/€1 versus the N1,619.76/€1 it was exchanged a day earlier.
The strengthening of the Naira value has been driven by the injection of forex into the financial markets by foreign investors seeking attractive investments in the emerging markets, helping to boost Nigeria’s external reserves, which provide the Central Bank of Nigeria (CBN) with the capacity to support the local currency.
As of February 4, 2026, the reserves reached $46.59 billion.
The local currency has been able to find a solid path despite no indications of any intervention from the apex bank in recent week, strengthening the case of price discovery.
Policy moves by the CBN is also offering a backbone for the FX market as it considers some strategic reforms through a policy known as the Single Regulatory Window.
In its 2025 Fintech Report, the central bank said this scheme will significantly reduce time-to-market for new digital financial products by streamlining licensing and supervisory processes across multiple agencies.
Meanwhile, the cryptocurrency market was in red amid a broad sell-off in global technology stocks, with reports showing that liquidity was notably thin, amplifying price moves and contributing to forced liquidations. The decline followed a sharp sell-off in global technology stocks overnight, where concerns over the pace of artificial intelligence adoption and rising capital spending by major firms weighed heavily on valuations.
Bitcoin (BTC) lost 7.9 per cent to sell at $70,534.94, Ripple (XRP) declined by 11.2 per cent to $1.42, Binance Coin (BNB) slumped by 9.4 per cent to $689.70, Ethereum (ETH) crashed by 8.9 per cent to $2,072.46, and Solana (SOL) dipped by 8.7 per cent to $89.86.
In addition, Dogecoin (DOGE) depreciated by 6.9 per cent to $0.1008, Cardano (ADA) slipped by 6.8 per cent to $0.2792, Litecoin (LTC) dropped 5.1 per cent to trade at $57.56, and US Dollar Tether (USDT) went down by 0.1 per cent to $0.9980, while the US Dollar Coin (USDC) closed flat at $1.00.
By Dipo Olowookere
The decision of investors to cherry-pick stocks with sound fundamentals across categories further lifted the Nigerian Exchange (NGX) Limited by 1.28 per cent on Wednesday.
This selective buying of equities was inspired by the earnings season, as companies that have already released their 2025 financial statements have impressed market participants.
However, the insurance sector experienced profit-taking yesterday, causing its index to go down by 0.84 per cent at the close of business.
But this loss was offset by the 2.33 per cent growth achieved by the banking index, with the other remaining sectors also closing in green. The energy industry appreciated by 1.52 per cent, the industrial goods landscape expanded by 1.20 per cent, and the consumer goods counter improved by 1.09 per cent.
As a result, the All-Share Index (ASI) went up by 2,128.61 points to 168,030.18 points from 165,901.57 points and the market capitalization rose by N1.366 trillion to N107.861 trillion from the previous day’s N106.495 trillion.
Yesterday, 53 equities ended on the advancers’ chart and 26 equities finished on the laggards’ table, indicating a positive market breadth index and strong investor sentiment.
DAAR Communications led the gainers’ group after it surged by 10.00 per cent to sell for N1.87, Berger Paints appreciated by 10.00 per cent to N66.00, Fortis Global Insurance advanced by 10.00 per cent to 22 Kobo, RT Briscoe also jumped by 10.00 per cent to N10.45, and First Holdco improved by 9.92 per cent to N48.75.
Conversely, Red Star Express led the losers’ gang after it went down by 9.97 per cent to N17.15, Deap Capital also fell by 9.97 per cent to N6.86, Union Homes REIT slipped by 9.95 per cent to N69.25, McNichols dipped by 9.93 per cent to N6.53, and eTranzact lost 9.89 per cent to trade at N16.85.
At the midweek’s session, traders transacted 694.8 million shares worth N20.6 billion in 42,095 deals compared with the 736.4 million shares valued at N24.7 billion traded in 46,026 deals a day earlier, showing a shortfall in the trading volume, value, and number of deals by 5.65 per cent, 16.60 per cent, and 8.54 per cent, respectively.
Chams ended the day as the busiest stock after trading 57.4 million units worth N256.3 million, Universal Insurance transacted 56.2 million units valued at N88.8 million, First Holdco exchanged 35.3 million units for N1.7 billion, Deap Capital traded 26.8 million units valued at N187.0 million, and Wema Bank sold 26.7 million units worth N674.6 million.
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