‘FX Scarcity, Supply Chain Disruption Support Rising Inflation’. Analysts have explained the trend behind rising headline inflation rate to include scarcity of foreign exchange, disruption in supply chain among other reasons.

NSE Index Tanks by 1.41% amid Renew Bearish Sentiment. The Nigerian Stock Exchange (NSE) performance this week was largely bearish, wiping off previous gains made by investors.

FX Market: Naira Depreciates Against Dollar at IEW. The local currency, Naira, depreciated against the United States dollar (USD) at Investors and Exporters Window (IEW) this week.

Credits to Private Sector Increase to ₦28.67 Trillion. Credits to private sector increased by 1.51% to ₦28.67 trillion in the month of April, Cowry Asset Management Limited stated in a financial market review note.

Analysts Maintain Sell Rating on Neimeth Stock Despite Rally. Amid rising cases of COVID-19, Neimeth Pharmaceutical Plc stock rallied in the past weeks, though it has also dropped having gained more than 45% in a week

‘8 Years Ago, I Got Fired as President and Co-Founder’. American Entrepreneur and former President at Udemy, Gagan Biyani tells his story on startup issues and leadership on twitter. Here are what he said: “8 years ago, I got fired as President and co-founder of @Udemy, a now-$2 billion unicorn”, he tweeted.

COVID-19 Infection Rises to 18,480 as NCDC Records 745 New Cases. Amidst gradual easing of the economic lockdown, Nigeria has recorded 745 new cases of COVID-19, bringing the total number of infections in the country to 18,480.

Compensation Plans for Oil Cut: OPEC+ sets Deadline for Nigeria, Others. For failure to comply fully with oil output cut, the Organisation of Petroleum Exporting Countries (OPEC+) has set June 22 as deadline for non-compliant member on the oil output cut to submit their compensation plans.

GSK: Analysts Upgrade Stock as Earnings Swing Despite Revenues Drop. GlaxoSmithKline Consumer Nigeria Plc (GSK) topline came weak, though the pharmaceutical company’s profit improves in the first quarter of 2020.

₦440 million Debt: AMCON Takes Over Doggi Group Limited. The Asset Management Corporation of Nigeria (AMCON) has taken over assets belonging to Alhaji Umaru Baba Abdullahi, the Chief Promoter of Doggi Group Limited over an indebtedness of over ₦440 million.