Tuesday, March 31, 2020
|Oil price plunges to $22, lowest in 18 years |
The international oil benchmark, Brent crude, plunged to its cheapest in 18 years on Monday as it traded around $22 per barrel. This comes amid growing fears that the global coronavirus shutdown could last months and demand for fuel could decline further…..read more.
Dollar sells for N412
The dollar exchanged for N412 on Monday at the Bureau De Change segment of the market. This followed a temporary suspension of sale of forex to the Bureau De Change operators in the industry by the Central Bank of Nigeria…..read more.
CBN suspends cheques clearing instruments indefinitely
The Central Bank of Nigeria on Monday suspended indefinitely the clearing of cheque instruments in the Nigerian clearing system….read more.
Customs seize N197.4m contraband, generate N224m
The Nigeria Customs Service ‘Zone D’ said it had intercepted smuggled goods valued at N197.4m….read more.
Power supply worsens as gas shortage stalls 4,156.5MW
The Transmission Company of Nigeria on Monday said the power sector had in the past weeks continued to experience power supply shortage due to serious gas constraints to most of the nation’s thermal generating stations…..read more.
| FAO warns against food supply chain disruption as countries lock down |
To reduce the risk of food shortage for millions, the United Nations Food and Agriculture Organization (FAO) has warned countries to take immediate actions to minimize disruptions to supply chains as keeping global food chains alive is crucial amid COVID-19 crisis…..read more.
Sit-at-home subscribers pressure telecom operators for tariffs slash
Telecommunications subscribers have pressured mobile network operators (MNOs) to initiate slash in prices of data, voice and all other telecoms services across the country….read more.
After Covid-19 donations, banks commence stamp duty collections
Days after announcing its donation of over five billion Naira, the equivalent of $14 million, through its foundation to catalyse a comprehensive pan-African response to the fight against the coronavirus (COVID-19) global pandemic, the United Bank for Africa Plc (UBA) has disclosed that a stamp duty charge will apply on all customers’ Savings account….read more.
MTN Shares Decline to Listing Price as Market Drops to 8-year Low
Nigerian stocks fell to eight-year low yesterday following negative reactions to President Muhammadu Buhari’s ordering of lockdown in Lagos, Abuja and Ogun, to stop the spread of coronavirus….read more.
Sterling Bank Floats N30bn Commercial Paper to Boost Working Capital Sterling Bank Plc is seeking to raise up to N30 billion in the first and second series of its commercial paper (CP) programme to finance its short-term working capital requirements…..read more.