Home Tag "COVID-19"

Tightening Global Financial Conditions Triggered Over $5bn Capital Outflows From Africa in the First Quarter of 2020 – Afreximbank

A trade finance survey by the African Export-Import Bank (Afreximbank) in collaboration with the United Nations Economic Commission for Africa (ECA), the African Development Bank (AfDB) and Making Finance Work for Africa Partnership (MFW4A) has revealed that as a result of the pandemic and inherent tightening financing conditions, heightening balance of payment pressures and liquidity […]

‘French Companies Want To Increase Investment In Nigeria, but Insecurity, Taxation Are Barriers’

FRANCK RIESTER, Minister for Foreign Trade and Attractiveness, France, was recently in Nigeria and in this interview with CALEB OJEWALE, he talks about areas of opportunities for increased trade between the two countries. He also reiterated the French commitment to helping Nigeria achieve some of its economic objectives, particularly in backward integration. Excerpts: Nigeria has been […]

Sanwo-Olu Give Details Of How $20 million support programme for youth, women will be Distributed

The Lagos State Government has launched a $20 million Coronavirus (COVID-19) Action Recovery and Economic Stimulus (Lagos CARES) Programme to support livelihood for poor and vulnerable households and to expand food security services in the State. The programme, which will be implemented for 24 months, is being funded through a $750 million facility secured from […]

Covid-19: Real Estate Companies And Bankruptcy

No doubt, these are trying times for different sectors across the Nigerian economy and the nation’s real estate segment is not insulated from the aftereffects of the COVID-19 pandemic. Some operators and stakeholders have expressed their fears that if the Federal Government does not intervene, more real estate companies may be forced to shut their […]

13m Out-of-school children: Nigeria Risks Socio-economic Disaster – Minister

Minister of Finance, Budget and National Planning, Zainab Ahmed says with an estimated 13 million children currently out of school in Nigeria, the country is sitting on the precipice of a socio-economic disaster if nothing is done to reverse the trend. Ahmed said on Tuesday it has become imperative for relevant stakeholders in the education […]

BUA Chairman Launches $100 million African Development Fund

Abdul Rabiu, Chairman, BUA on Wednesday, announced  the establishment of an annual $100 million Africa Endowment Fund starting from 2021 aimed at facilitating social development across Nigeria and the African continent in general. Dwelling on the fund in an official statement made available to Business A.m, Rabiu stated that the Abdul Samad Rabiu Initiative Africa […]

UBA Post First Quarter Profit Of 25% On Higher Interest Earnings

United Bank for Africa (UBA) had its January-to-March profit rise by more than one-quarter, helped by surges in both net interest income and non-interest income, the financial statement of the pan-African lender showed on Monday. Net interest income stood at N74.4 billion relative to the N65.4 billion reported in the same period of last year. Earnings […]

JP Morgan To Fund Super League

JP Morgan Chase, a US investment bank, have announced that it is funding the new season of the breakout league, the European Super League in a €4 billion ($4.8 billion) bet. The investment bank giant intends to fund the top-tier super league with an initial €3.5 million investment, a figure that will total €4 billion […]

Covid-19: Impact on Business After Ease Of Lockdown In FCT

On the 2nd of January, 2021, the Federal Government announced the guidelines for the extension of the eased lockdown (phase 3) by one month following the rising cases of coronavirus disease in the country. The eased lockdown has since seen businesses reopen nationwide albeit cautiously and in line with social distancing and other government protective recommendations implemented. […]

CBN’s Forex Policy Frustrating Businesses, Households Amid COVID-19

COVID-19 has proven to be one of the worst crises of our times and Nigerian policymakers were completely unprepared for the battle of a lifetime. The resilience of businesses and households was tested to an unusual degree in 2020 due to the pandemic. There were no quick fixes at the business and household level as […]

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