Tuesday, May 05, 2020
Access Bank denies sacking 75% workers, closing branches
Access Bank Plc on Monday debunked reports that it plans to sack 75 percent of its workforce and as well close more than 300 branches. Read more
Nigerians will pay higher electricity tariffs, FG promises IMF
Nigerians will pay much higher tariff for power in 2021, going by promises made by the Federal Government to the International Monetary Fund while seeking the $3.4bn emergency financial assistance recently approved for Nigeria. Read more
Naira gains, exchanges 430/$ as forex sale resumes
The naira sold for N430 to a dollar on Monday, gaining some strength over the previous week’s sales figures, following the resumption of forex sales by the Central Bank of Nigeria on April 29, 2020. Read more
Customers carry out 3.11 million e-transactions as banks reopen
Bank customers across the country carried out over three million online instant payments on Nigeria Interbank Settlement System Instant Pay platform as Lagos and other states’ residents eased the one-month long lockdown. Read more
‘How majors’ stake in gas, lower margins hedged against price volatility’
As the world groans under the impact of the coronavirus, oil majors with portfolio investments in gas in Nigeria, and many other developed climes, may have helped to provide strong resilience to the current oil price volatility. Read more
SAA ends operations over bailout denial, $1.4 billion losses
South African Airways (SAA), may have reached the end of the line and now at the verge of liquidation following the rejection of another bailout request. Read more
World airlines set for new sitting arrangement in post-restriction era
The coronavirus pandemic may have changed the face of social interactions, including how we travel and the sitting arrangement aboard commercial airplanes. Read more
PenCom concludes intervention in First Guarantee Pension
The National Pension Commission (PenCom), has disclosed that it has concluded its regulatory intervention in First Guarantee Pension Limited, which resulted, among other things, in the appointment of an Interim Management Committee (IMC), to oversee the affairs of the Pension Fund Administrator (PFA). Read more
Nigeria Spent N752 Billion on Subsidy in 2019
The federal government paid N752 billion as petrol subsidy in 2019, a report by the Nigerian National Petroleum Corporation (NNPC) has disclosed. Read more
COVID-19: Analysts Highlight Lessons from China
Analysts that spoke at a recent Chief Financial Officers’ (CFO) forum organised by KPMG Professional Services have highlighted the lessons to learn from how China tackled the spread of the COVID-19 pandemic. Read more
Guinness Nigeria Posts N96bn Revenue, N2bn Profit in Nine Months
Guinness Nigeria Plc has reported a revenue of N96.081 billion for the nine months ended March 31, 2020. This represented a decline of 5.3 percent, compared with the N101.402 billion recorded in the corresponding period of 2019. Read more
