The umbrella organization for Nigeria’s private sector has asked the federal government for a tax holiday and other alleviating measures to help relieve the sector of the distress brought by the global COVID-19 outbreak. Implications of the ongoing pandemic on the private sector could be severe enough to...
Nigeria is considering cutting its $28 billion (₦10.6 trillion) record budget for the year by at least $4.90 billion (₦1.5 trillion), finance minister Zainab Ahmed said this week, as the government reacts to the economic fallout of the coronavirus outbreak. The pandemic has taken a massive...
Kenya’s plan to sign a free trade deal with the United States is set for a long legal tussle after two lawyers challenged the controversial move at the East African Court of Justice. Christopher Ayieko and Emily Osiemo filed a petition at the regional court challenging the...
With 46 confirmed cases of coronavirus in Nigeria as of 7:00 am on March 25, 2020, top banks across the country have intensified safety measures to curb further spread of the virus. AccessBankPlc closed its VI branch after a customer was tested positive for Coronavirus after visiting the bank...
TheNigerian Stock Exchange has extended the time for quoted companies to submit their audited financial statements for the year ending December 31, 2019, a move meant to reduce the challenges caused by the COVID-19 pandemic, it said in a circular issued on Tuesday, March 24, 2020. According to the NSE,...
On Thursday, March 19, 2020, South Africa’s biggest supermarket Shoprite announced that they will limit purchases of some food products and medicines as frantic shoppers strip shelves in preparation for self-isolation due to the coronavirus pandemic. The limit on food purchase is to ensure that more...
Nigeria’s central bank devalued the local currency on Friday, selling dollars to deposit money banks at the rate of ₦380 to one dollar in the country. The development is said to be part of efforts by the apex bank to establish a uniform rate between...
The World Health Organization has partnered with WhatsApp, a popular social media platform owned by Facebook, to halt the spread of fake news on the coronavirus outbreak. The initiative called WhatsApp Coronavirus Information Hub is a response to the spread of misleading information on social media, most especially on...
In a report by Nairametrics, Nigeria’s tier-1 banks spent a combined total of about N44 billion on advertising and sales promotions in the year 2019. These banks include Guaranty Trust Bank Plc., Zenith Bank Plc., First Bank of Nigeria Ltd, United Bank for Africa Plc, and Access...
In 2012 the Ellen MacArthur Foundation published its first report analyzing the circular economy’s opportunities for business. This research focused on complex-medium-lived products and demonstrated that a circular economy scenario could represent a net material cost-saving opportunity of $520 billion to $630 billion a year...
