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BUSINESS NEWS
Business and Economic News from Nigeria
All-Share Index and Market Capitalization both depreciated by 0.72% to close the week at 23,871.33 and N12.441 trillion respectively.
The coronavirus pandemic has hindered corporate brands from spending on advertising from Q1 to Q2 2020.
The local currency strengthened by N0.58 against the dollar, compared to the N386.58 to a dollar that it traded on Thursday.
Trading at Nigeria’s bourse remained thin, as many local investors remained on the sidelines
NCAA, FAAN, NAMA, AIB, NiMET, are expected to relocate to Abuja within the given time frame stipulated by the Ministry of Aviation
Global investors rushed for the gold after mixed results coming from China’s economic data as well as the huge upsurge in jobless claims in America.
‘’Anywhere in the world, if you want to buy anything, you have what is called the recommended retail price, the consumer protection agency would fix a price a price so that nobody can profiteer inordinately from the people." - Silva
These follow recent pronouncement by the CBN that it is ready to provide forex for investors who wish to repatriate funds from the country
As the impact of the COVID-19 reverberates around the world,a handful of industries are seeing increasing opportunities to do more, not less.
"The group will continue to focus on business continuity and efficiency, and we have implemented strict measures to preserve resources and strengthen our resilience.”
DMO sold N19.8 billion on the 91-day paper, N40.1 billion on the 182-day, and N82.9 billion on the 364-day bill.
"We are seeing unprecedented demand to join the Jumia platform, especially for named brands. We believe those dynamics will help accelerate the shift toward online."