| Thursday, April 16, 2020 |
Oil firms’ N4.58tn loan repayment under threat – Investigation The coronavirus-induced sharp fall in global oil prices poses a threat to the ability of oil and gas companies in the country to repay a total loan of N4.58tn, investigation has shown. The loans advanced to oil and gas companies by Nigerian banks rose to N4.58tn in the fourth quarter of 2019 from N4.55tn in Q3, according to the National Bureau of Statistics…read more.
COVID-19: Nigeria, S’Africa, others lose $4.2bn, says IMF The COVID-19 pandemic has resulted in the largest capital outflow from sub-Saharan Africa with over $4.2bn leaving the region from the end of February. The International Monetary Fund disclosed this in its latest Regional Economic Outlook for sub-Saharan Africa, which was released on Wednesday…read more.
FG to auction N60bn April bonds The Debt Management Office has said that the Federal Government will auction N60bn worth of bonds by subscription on April 22. A circular by the DMO on Wednesday showed the breakdown of the figure to include a N20bn five-year reopening bond that would mature in April 2023 and be offered at 12.75 per cent; a N20bn 15-year reopening bond that would mature in March 2035 and be offered at 12.50 per cent….read more.
Government under fire over COVID-19 evacuation, emergency flights The frequency of international flight services in and out of Lagos and Abuja airports amid the lockdown has raised fresh safety concerns in the fight against coronavirus disease spread…read more.
Sanwo-Olu approves three-month moratorium on MSMES N2.8b loan The three months moratorium on loans to Micro, Small and Medium Enterprises (MSMEs) granted by Lagos State Governor Babajide Sanwo-Olu is a reprieve of about N410 million, it was learnt yesterday.There will be no interest payment on the N2.8 billion loan given out by the Lagos State Employment Trust Funds (LSETF). Sanwo-Olu broke the news as…read more.
Boris Johnson and coronavirus: Lesson for Nigeria But for the terrible reign and dictatorship of Coronavirus, there might have been a time it would have been considered impolite and unthinkable to refuse a hug or a handshake from a beautiful lady. However…read more. ‘
World leaders build $8trn war chest against COVID-19 Abuja Bureau Chief Political leaders and Central Banks across the globe have built an $8 trillion war chest against the Coronavirus (COVID-19) pandemic. International Monetary Fund (IMF) Managing Director, Kristalina Georgieva disclosed this, yesterday, during the G20 Finance Ministers and Central Bank Governors meeting at the on-going virtual Spring Meetings…read more.
OIL WATCH: Oil price drops below $20 per barrel The price of Nigeria’s premium grade, Bonny Light, dipped yesterday to the lowest figure since the price of crude started plummeting at the International market, trading at $19.50 as against 21.06 per barrel Tuesday…read more.
NSE pushes for transparency in conduct of virtual meetings STOCK On the backdrop of the on-going Covid-19 crisis and lockdown in movement across major cities in Nigeria, the Nigerian Stock Exchange (NSE ) has enjoined companies conducting virtual meetings to enthrone transparency and efficiency in the conduct of such meetings…read more.
Sterling Bank Unfolds Palliative Measures for Customers Sterling Bank Plc has introduced some palliative measures for customers in a bid to cushion the adverse effects of the government-ordered lockdown in parts of the country, aimed at halting the spread of the dreaded COVID-19….read more.
‘Severe and unprecedented’: IMF warns Asia’s economy will not grow at all in 2020 because of coronavirus Asia has been among the fastest-growing regions in the world. During previous crises such as the Asian financial crisis in 1997 and the global financial crisis around 2008-2009, the region still managed to grow, said the International Monetary Fund….read more.
European markets set for lower open; Germany plans to ease lockdown cautiously An increasing number of European countries have cautiously started to ease restrictive measures on public life and businesses this week and Germany is the latest to set out a road map for how it will reopen its economy…read more.