Private sector contributions to COVID-19 relief fund hit N15bn – Businessday NG

Monetary contributions to the account set up at the Central Bank of Nigeria (CBN) under the auspices of the Private Sector Coalition Against COVID-19 (CACOVID) have hit N15 billion. A statement issued on behalf of the coalition by the Director, corporate communications, Central Bank of Nigeria, Isaac Okorafor, on Wednesday, April 1, 2020, listed 37 […]

Tier-one banks risk NGN4.33trn as oil prices tank, here’s how – Businessday NG

The global crash in crude oil prices could put Nigeria’s biggest banks in a precarious situation as the 68 percent decline in oil prices in Q1 casts an uncomfortable light on lenders’ loan portfolio overconcentration in the oil sector. As at the beginning of the year, Tier-one banks had an oil exposure of over N4.33 […]

Nigeria’s total debt stock rises 12% to N27.4 trillion in 2019 – Businessday NG

Nigeria’s total debt stock rose to N27.40 trillion in 2019, an increase of around 12.36 percent year-on-year from N24.38 trillion in 2018, according to latest data from the Debt Management Office (DMO). Domestic debt grew 10.5 percent to N18.38 trillion in 2019 accounting for 67.07 percent of total debt stock. The FG owed N14.27 trillion […]

Coronavirus: Nigeria’s fate hangs on decisive leadership, personal responsibility – Businessday NG

Without decisive leadership and personal responsibility, the spread of coronavirus in Nigeria could reach unprecedented levels that will overwhelm the country’s grossly inadequate medical facilities. With an estimated 100,000 hospital beds to a population of 190 million people and less than 50,000 doctors, if expanded mass testing reveals the coronavirus has spread far beyond the […]

Social media misinformation complicates Nigeria’s fight against coronavirus – Businessday NG

The Nigerian Centre for Disease Control (NCDC), a government agency in the forefront of the fight against COVID-19, has its task made more difficult by the flood of misinformation, especially on social media. “Beware of unverified messages on social media!” the agency warned on Twitter following the counsel by a respected traditional ruler on alternative […]