| Wednesday, April 29, 2020 |
COVID-19: IMF approves $3.4bn emergency loan for Nigeria The Executive Board of the International Monetary Fund on Tuesday approved $3.4bn in emergency financial assistance to the Federal Government in addressing the severe economic impact of the COVID-19 pandemic….read more.
COVID-19: Private sector contributions hit N27.16bn Total funds raised by the Private Sector Coalition Against COVID-19 rose to N27.16bn as of the end of April 23, 2020. The Director, Corporate Communications, Central Bank of Nigeria, Isaac Okorafor, disclosed this in a statement on Tuesday…read more.
Germany grants Nigeria N8.9bn debt relief The Republic of Germany said it had granted Nigeria debt relief amounting to N8.9bn (€22.4m) on account of the coronavirus pandemic. Also, the German government said it had successfully campaigned for the G20, the Paris Club and creditor countries in favour of a debt moratorium for nations heavily affected by the economic impact of COVID-19…read more.
Nigeria may record N4.9tn decline in nominal GDP — Investigation The outbreak of the coronavirus pandemic in Nigeria may result in a decline of N4.95tn in the nation’s nominal Gross Domestic Product in the present fiscal year, investigation has revealed…read more.
Nigerian farmers lament increasing postharvest losses amidst lockdown As a result of the COVID-19 lockdown and lack of access to markets, farmers are experiencing massive post-harvest losses of fruits, vegetables, fresh products, and other perishables, Smallholder Women Farmers Organisation (SWOFON), raises an alarm.…read more.
CACOVID fund at Central Bank of Nigeria rises to N27.1 billion As Coalition spends N23 billion on food purchase.The Nigeria Private Sector Coalition Against COVID-19 (CACOVID) Relief Fund, initiated by the Central Bank of Nigeria (CBN), has risen to over N27.1billion, even as the Coalition said it has already expended a whopping N23billion on the purchase of food items….read more.
‘Nigeria needs post-COVID-19 fiscal discipline’ Professor of Industrial Relations and Human Resource Management, Lagos State University (LASU), Yunus Dauda, has said Nigeria needs to engage in effective fiscal discipline and shun corruption if the country must survive oil crash impact…read more.
FMDQ Admits Commercial Papers of United Capital, Sterling Bank FMDQ Exchange Limited has admitted the United Capital Plc N1.35 billion Series 1 and N3.97 billion Series 2 commercial paper(CP) under its N20 billion CP Issuance Programme and the Sterling Bank Plc N6.85 billion Series 1 Tranche A and N8.15 billion Series 2 Tranche A CP under its N100 billion CP Issuance Programme onto the exchange’s platform…read more.
Banks to Reap Higher Income from Digital Platforms, Says Agusto & Co Agusto & Co. has predicted that more bank customers would embrace digital banking platforms which could result in higher electronic banking income for the financial institutions….read more.
Wapic Insurance Appoints Sunmonu Board Chairman Wapic Insurance has announced the appointment of Mutiu Sunmonu as the chairman of the company. It also announced the appointment of Bababode Osunkoya as chairman of its subsidiary, Wapic Life Assurance Limited…read more.
Shippers want 35% reduction in shipping charges SHIPPERS Association of Nigeria, SAN, has called for the reduction of shipping company charges by 35 per cent, even as it demanded that commercial banks should work full day at least twice a week as a means of clearing the backlogs of shipping documents and confirmation of duty as well as terminal charges slated for them…read more.