The Central Bank of Nigeria has listed the conditions that must be fulfilled by individuals and companies willing to access it’s N50bn intervention fund. The apex bank had last week unveiled the fund in response to the coronavirus pandemic, which had led to unprecedented disruptions to global supply chains, sharp drop in global crude oil […]
In response to national concerns, the Nigerian Navy (NN) on Tuesday said its 2020 recruitment exercise has been suspended indefinitely. This was contained in a statement by Director Naval Information (DINFO) Commodore Suleman Dahun. The service commenced its online recruitment exercise on March 11 and the application process was billed to continue till April 21. […]
Lagos State Governor Babajide Sanwo-Olu, has ordered the closure of markets, stores in the state with effect from Thursday. According to him, markets that sell essential commodities such as medical equipment, water, foodstuff are exempted. The governor in a press conference o Tuesday said, “It is not a total lockdown, we still want people on […]
Oil prices rallied Tuesday morning in Asia as the U.S. indicated the possibility of an alliance with Saudi Arabia to stabilise prices. International Brent Oil Futures rose 2.55% to $28.19 by 9:50 PM ET (01:50 AM GMT) and U.S. Crude Oil WTI Futures jumped 5.27% to $24.59. U.S. Energy Secretary Dan Brouillette hinted on Monday […]
Global airlines need around $200 billion financial aid in coming weeks because of the liquidity crunch resulting from the coronavirus pandemic, which will cost the industry over $250 billion in lost passenger revenue this year, International Air Transport Association officials said Tuesday. IATA more than doubled its estimate of lost passenger revenue — compared with […]
The monetary policy committee of the Central Bank of Nigeria (CBN) has voted unanimously to retain the monetary policy rate at 13.5%. This was announced by Godwin Emefiele, CBN governor, on Tuesday after the two-day meeting of the committee. The cash reserve ratio (CRR) was retained at 27.5%, liquidity ratio at 30% and asymmetric corridor […]
The 2020 Tokyo Olympics have been postponed to no later than the summer of 2021 because of the coronavirus pandemic sweeping the globe, the International Olympic Committee announced Tuesday. The Games were scheduled for July 24-August 9, but after telephone discussions between IOC president Thomas Bach and Japanese Prime Minister Shinzo Abe, a historic joint […]
Ecobank Plc has temporarily closed its Wuse II Abuja branch. The bank said it took the decision after the death of one of its customers who happened to be the first death case from coronavirus in Nigeria. According to a statement by the bank, the deceased visited the branch on March 12, and did not […]
The Federal Government said retired doctors and nurses could be recalled in states to help in the fight against COVID-19. According to the Minister of Health, Osagie Ehanire, he said, 36 persons had so far been infected in the country, with 26 of them having travel history while six had contacts with infected persons. He […]
The International Monetary Fund is warning that 2020 could see a severe recession “at least as bad during the global financial crisis or worse,’’ even as recovery would be expected in 2021. IMF Managing Director Kristalina Georgieva made the comments after a phone call of G20 finance ministers and central bank governors on Monday. “The […]