The coronavirus pandemic and its devastating economic impact on developing countries could fuel fresh interest in so-called diaspora bonds that allow migrants…
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Despite the supply chain constraints involved in simultaneous nationwide delivery and distribution of medical items at this period, the Nigerian National Petroleum…
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Ecobank Nigeria has donated fooditems to several state governments across the country as contribution to various initiatives aimed at cushioning the effect of the current lockdown on citizens. These palliatives are targeted at the most vulnerable members of the society who have been the hardest hit economically as a result of the current crises. Speaking in Lagos, Executive Director Commercial Banking, Ecobank Nigeria, Carol Oyedeji said this action would also go a long way in supporting members of the community who earn a daily wage and may not have the opportunity of working under the present environment. She noted that the donations are part of the bank’s Corporate Social Responsibility (CSR) and focused on providing support as best as possible. She remarked that “as a bank we give strong priority to people’s welfare. We are determined to assist ordinary Nigerians during the current difficulties and this is one of the ways we are achieving this. We are also offering concessions to our SME Lending customers at this time given the strain on their cashflows and creating ease for the general public to transact digitally while at home”. Ecobank Group has so far contributed over US$3 million to the fight against COVID-19 across its footprint in Africa in line with the Bank’s commitment to the Region. The Institution is supporting governments, the World Health Organization (WHO) and partnering with private sector operators to alleviate the effect of the pandemic on citizens. These have been in the form of cash, healthcare equipment, donation of supplies, awareness campaigns while also using digital platform to provide funds to beneficiaries of various funds being distributed. The Bank is particularly mindful of the needs of its communities and remains committed to providing the appropriate support required.
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The International Monetary Fund on Friday said it would meet on April 28 to consider Nigeria’s request for $3.4 billion in emergency…
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The Nigeria Labour Congress (NLC) says it opposes the use of contributory pension as palliatives for workers as part of effort to…
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The Lagos State Government said it has shortlisted 10 firms out of the 32 eligible companies that responded to the call for Expression…
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International Monetary Fund IMF and World Trade Organisation have said that open trade policies is what is needed to defeat coronavirus. The…
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The ongoing efforts by the Nigerian National Petroleum Corporation (NNPC)-led Oil and Gas Sector coalition against COVID-19 was bolstered Thursday in Lagos…
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EconomyFinanceNews
“We estimate that COVID-19 could push 49 million people into extreme poverty in 2020”—WB
World Bank Group has said that COVID-19 pandemic could push 49 million people into poverty in 2020. The Bank in a report…
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At the close of trade today, sell pressures in DANGCEM (-3.3%), BUACEMENT (-5.3%) and NESTLE (-6.7%) weighed on the All-Share Index, depreciating 136bps to close at 22,470.79 points. Consequently,…
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Nigeria Breweries PLC has reported a decrease in revenue in the first quarter of 2020. According to the board the company made…
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Vice President Yemi Osinbajo at the Presidential Villa, Abuja, presided over the meeting of the Economic Sustainability Committee (ESC) set up to…
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The U.S. Securities and Exchange Commission has dropped its inquiry into Royal Dutch Shell’s 2011 acquisition of an offshore oil block in…
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The African Export-Import Bank (Afreximbank) has set up a $3-million grant to complement continental efforts to combat the COVID-19 pandemic. Afreximbank President…
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The Federation Accounts Allocation Committee (FAAC) has shared a total of N780.926 billion as Federation Account revenue for March 2020 to the…