Monday, July 13, 2020
India’s Glenmark Pharma cuts price of COVID-19 drug by 27% to N380 per tablet
India’s leading drug manufacturer, Glenmark Pharmaceuticals on Monday said it has cut price of its antiviral drug Favipiravir, under the brand name FabiFlu, for the treatment of patients with mild to moderate COVID-19, by 27 per cent to Rs 75 or about N380 per tablet…Read more.
CBN taps cash reserve ratio debits as backdoor of piling OMO costs
Nigeria’s central bank is using discretionary Cash Reserve Ratio (CRR) debits as a backdoor of mopping liquidity in the banking sector following the balance sheet damage done by issuing Open Market Operations (OMO) bills at high interest rates over the past three years…Read more.
InfraCos await NCC’s N65bn subsidy after RoW reduction from seven states
Since May 2020, about seven Nigerian state governors have signed to reduce the right of way (RoW) fee for laying of fibre cables across their states, seen as a necessary first step to ubiquitous broadband deployment in Nigeria…Read more.
Anxiety over H1 results, inconsistent policies trigger investor apathy
Expectations of poor half-year, inconsistent government policies and rising COVID-19 cases have continued to trigger apathy on the equities sector of the Nigerian Stock Exchange (NSE)….Read more.
CIBN to adopt remote online proctoring for its examinations
The Chartered Institute of Bankers of Nigeria (CIBN) has commenced plans to adopt remote online proctoring for the conduct of its professional banking and certification examinations…Read more.
ABCON calls for suspension of taxes, tariff hike
Association of Bureaux De Change Operators of Nigeria (ABCON), has called on the Federal Government to suspend all increases in taxes and tariffs until the economy recovers from the impact of the COVID-19 pandemic…Read more.
Nigerians believe rising inflation’ll weaken economy – CBN
Many Nigerians believe that rising inflation will lead to a weaker economy, according to a survey by the Central Bank of Nigeria.The Statistics Department of the CBN disclosed this in its ‘Q2 2020 Inflation Attitudes Survey Report’, obtained by our correspondent on Sunday…Read more.
Nigeria, China finalising negotiations on N43.24bn Ibadan port
Negotiations between the Federal Government and China Railway Construction Corporation Limited for the construction of the Ibadan Inland Dry Port is nearing completion, the Nigerian Shippers’ Council announced on Sunday….Read more.
Why budget increased despite dropping revenues – Presidency
The Senior Special Assistant to the President on National Assembly Matters (House of Representatives), Umar El-Yakub, has said the decision of the Presidency to increase the budget despite drop in revenue was meant to mitigate the impact of the COVID-19 pandemic on the nation’s economy…Read more.
Gbajabilamila Wants Export Processing Zones Strengthened
The Speaker of the House of Representatives, Hon. Femi Gbajabiamila, has emphasised the need for the country to ensure effective and efficient functioning of the Export Processing Zones in the buildup…Read more.
Union Bank to Expand Agency Banking Network
Union Bank of Nigeria Plc has said it will continue to expand its agency banking network to complement its operations and to also increase financial inclusion in Nigeria…Read more.
HP Introduces New Multifunctional Printers
HP Inc. has introduced new printing devices for home use for its consumers in Nigeria, and around the world. They include the Deskjet 2300, Deskjet 2700, Deskjet Plus 4100, DeskJet Plus Ink Advantage 6000 and DeskJet Plus Ink Advantage 6400…Read more.
More electricity woes as tariff shortfall heads to N822bn
AGAINST the backdrop of the recent reversal of the new electricity tariff take-off,, the World Bank has indicated that Nigeria’s electricity tariff shortfall would rise by 56.9 per cent to N822 billion in 2023 from N524 billion in 2020….Read more.
REVISED 2020 BUDGET: Find urgent solutions to huge debt burden, FG told
Professor of Finance and Capital Market at the Nasarawa State University and former Commisoner of Finance of Imo State, Mr. Uche Uwaleke, has commended the Federal Government for the revised 2020 budget, noting, however…Read more.
Naira to depreciate further in parallel market
The sharp depreciation of the naira in the parallel market is set to continue this week with the exchange rate projected to hit N470 per dollar. Last week, the naira depreciated by N9 or 1.9 percent to N467 per dollar in the parallel market from N458 the previous week…Read more.
