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BUSINESS NEWS
Business and Economic News from Nigeria
According to the latest data obtained from the Central Bank of Nigeria (CBN), Nigeria’s foreign exchange reserves now stand at $36.57 billion.
Spot gold, which monitors real-time trades in bullion, plunged by 1.75%, to close at $1,684.21.
The rally in crude oil price in recent weeks has been triggered by growing economic demand around the world and crude oil production cut by major oil producers since the deadly virus COVID-19.
Investors lost N154.28 billion in value, as market capitalization dropped to N13.04 trillion at the Nigerian Stock market.
With the reappointment, Danbatta will continue serving in the capacity of NCC Vice Chairman and CEO for another 5 years.
Sadly, this move, in addition to similar policies by the CBN, has left many banks cash-strapped and unable to pursue various profitable ventures.
In our view, we think the decision to extend the deadline is reasonable under current circumstances. The coronavirus pandemic has ravaged global economic and financial systems thus making it more difficult for an already unattractive insurance sector to raise much-needed capital.
Chief Legal Officer of Oando Plc, Ngozi J Okonkwo is dead.Adewale Tinubu, Group Chief Executive Officer announced this via a tweet
Slack reported steady revenue growth 50% in Q1 2020, compared with 49% recorded in Q1 2019 on an annualized basis this brought in more customers
Gold fell on Friday morning to $1,717.10. as global investors await the release of Friday’s U.S non-farm payrolls data for May
The OCC in America announced that it was working with banks and crypto firms on improving the technological cooperation in the financial system.
In taking the decision, the Bureau agreed that AfDB's ethics committee performed its role on this matter.