Author: Marketforces Africa

AfDB dAfDB debars Chinese Company Sieyuan Electric, Subsidiaries for Fraud. The Africa Development Bank (AfDB) said it has debarred another Chinese company, Sieyuan Electric and its subsidiaries for fraud.

Federal Government receives ₦1.69 billion COVID-19 donations. The Federal Government received a total sum of ₦1.69 billion as COVID-19 eradication support donations from April 1 to May 31.

FBN Holdings wins World Finance Best Corporate Governance Award. FBN Holdings (FBNH) Plc, has won the 2020 Best Corporate Governance in Nigeria Award put in place by the World Finance. Mr Urum Kalu Eke, FBNH Group Managing Director, made this known in a statement on Sunday in Lagos.

Europe, Asia Countries top Nigeria’s Exports Destinations. Europe, Asia Countries were Nigeria’s top export destinations in the first quarter of 2020, data provided by the Bureau of Statistics stated.

Worship Centres Reopen as COVID-19 Cases Spike to 15,682. Nigeria recorded 501 new COVID-19 cases on Saturday, bringing the total infections to 15,682. This is coming just as some states are re-opening worship centres.

FirstBank Presents Devices to Lagos State Towards Driving 1Million Students to E-Learning First Bank of Nigeria Limited, Nigeria’s leading financial inclusion services provider on Thursday, 11 June 2020, presented 20,000 units of e-learning devices to the Lagos State governmentat the State House in Marina, Lagos.The devices are planned for distribution to school children. With the gesture, the Lagos State governor, BabajideSanwo-Olu said the State had found a “real development partner” in FirstBank, noting that the intervention came at a time the Government was massively deploying technology to transform the conventional mode of teaching and learning. The presentation of…

‘FG to Use ₦162.5bn Proceed of Sukuk to Finance Road Projects’. The recent ₦150 billion Sukuk issued by the  Debt Management Office was 5 times oversubscribe and the proceed will be used for capital projects in the country.

Africa’s COVID-19 Cases Increase to 215,000 – WHO. The World Health Organisation (WHO) has warned that the COVID-19 has continued to spread in Africa since the virus was first detected on the continent in mid-February 2020.

Afrinvest Says Maturing T-Bills Will Keep Money Market Rates Down. Afrinvest, a Lagos based investment banking firm, has predicted that money market rates would stay low in the coming week.

Naira Appreciates Against USD at Investors & Exporters Window. Naira appreciated against dollar, USD, at the investors and exporters window (IEW) as Bonny light crude price rises. Cowry Asset Management said this is in line with its expectations, as Naira appreciated by 0.19% to close at ₦386.50/USD.