Monday, May 04, 2020
FG retains N125/litre petrol price despite crude oil crash
The Federal Government has failed to review the N123.5 to N125/litre pump price of petrol for the month of May 2020 despite continued crash of crude oil price. Read more
Cut interest rates to boost economy, says Tinubu
The National Leader of the All Progressives Congress, Asiwaju Bola Tinubu, has said the Central Bank of Nigeria should seize the opportunity of the coronavirus crisis to lower interest rates in a bid to boost the nation’s economy. Read more
Sacked workers’ll get monthly salaries for insured jobs — Insurers
Insurance operators have said that workers who took job loss insurance covers before the commencement of COVID-19 pandemic will get insurance compensation. Read more
CBN prevails on banks not to sack workers
The Central Bank of Nigeria and the Bankers’ Committee have jointly agreed to suspend sacking of workers in the banks during the COVID-19 pandemic. Read more
Sovereign Trust pays N2.76bn claims
Sovereign Trust Insurance Plc said it paid N2.76bn claims to is various insured spread across the country in 2019. Read more
Revolutionising tax for Nigeria’s sustainable growth
The Federal Inland Revenue Service (FIRS), is currently implementing small businesses-friendly tax policy that temporary exempts operators with annual turnover of N25 million and below from charging Valued Added Tax (VAT), while deploying technology to ensure continued quality service delivery to taxpayers across every segment of the economy. Read more
Underwriters refund policyholders’ motor premium over lockdown
Determined to regain consumers’ confidence in the nation’s insurance industry, especially during the lockdown, Wapic’s outgoing Chairman Aigboje Aig-Imoukhuede. Read more
Uncertainty over alleged Access Bank’s bid to sack workers, close branches
Uncertainties have trailed Access Bank’s alleged closure of 340 branches across Nigeria, as the bank yesterday denied the allegations, insisting that the branches were closed at the onset of the COVID-19 lockdown. Read more
Analysts Explain Rising Banks’ Impairment Charges
The deteriorating macroeconomic environment and falling crude oil prices have made more banks to increase their provisions for loan losses in their first quarter (Q1) ended March 2020. Read more
Expert Urges States to Float Pandemic Bonds
As the COVID-19 pandemic exerts enormous strain on the Nigerian economy, a former Imo State Commissioner for Finance and Nigeria’s first professor of capital market, Prof. Uche Uwaleke has advised state governments to, among others, consider issuing a ‘pandemic bond’ to help finance economic recovery and growth efforts. Read more
FG Urged to Prioritise Dangote Refinery
The Chief Executive Officer of the New Horizon Systems Solution, Mr. Tim Akano, has advised the federal government to prioritise funding of the Dangote Refinery, as part of its strategy to reflate the economy. Read more
