in’s ide business Archives - Inside Business Africa

Apr42020 by Joshua OlotuNo Comments

Standard Chartered Commits USD1 billion to Finance Companies Helping to Tackle COVID-19

Finance

30 March, 2020 – Lagos, Nigeria – Standard Chartered announced today that it will commit USD1 billion of financing for companies that provide goods and services to help the fight against Covid-19, and those planning the switch into making products that are in high demand to fight the global pandemic. Companies in scope include all those associated with helping tackle Covid-19, including manufacturers and distributors in the pharmaceutical industry and healthcare providers, as well as non-medical companies that have volunteered to add this capability to their manufacturing output – goods in scope include ventilators, face masks, protective equipment, sanitisers and other consumables. Simon Cooper, CEO of Corporate, Commercial & Institutional Banking at Standard Chartered, said: “...

Apr22020 by Joshua OlotuNo Comments

Expert Promotes e-Commerce

Technology & Innovation

A Lagos-based Development Economist, Adeola Seyi-Smith, has stressed the need for the federal and state governments to encourage e-Commerce and support online shopping among Nigerians, with the outbreak of the COVID-19. He, advised governments to encourage and promote online shopping among Nigerians, in order to stop the spread of Coronavirus. However, he faulted the recent decision by the federal government to shut down economic activities in some states of the country, as measures to stop the spread of virus. Reacting to Sunday’s nationwide broadcast of President Muhammadu Buhari, where the he ordered a total lockdown in the Federal Capital Territory, Lagos and Ogun states, Seyi-Smith Seyi-Smith said: “Hundreds of jobs have been wiped off like almost all the value chains inc...

Mar312020 by Joshua OlotuNo Comments

NPA Denies Contradicting NCDC Over Covid-19 Case on Vessel

Economy

Following public reactions to attempts by the Nigerian Ports Authority (NPA) to get full details of COVID-19 cases said to have been found on a vessel, the Nigerian Ports Authority (NPA) has denied contradicting the National Centre for Disease Control (NCDC). The NPA said it did not by its tweet on last Thursday, contradict the information released to the public by the NCDC. In a statement by its General Manager, Corporate and Strategic Communications, Jatto Adams, explained that what the tweet sought to do was get full details of incident for purposes of record and better management in the future. The NPA said it needed the clarification to reassure its stakeholders who raised concern over the announcement that six cases were found on a vessel when as shipping companies, termina...

Mar312020 by Joshua OlotuNo Comments

NANTA Gets New President

Business

The National Association of Nigerian Travel Agencies (NANTA) has sworn in Mrs. Susan Akporiaye as the 44th president of association. Akporiaye took over from Mr. Bankole Bernard, the immediate past president of the association. Speaking after she was sworn in, Akporiaye assured NANTA members and its stakeholders of continuity, since she was a member of the immediate past executives. “On one hand you are assured of continuity because I was one of the outgoing executives of the last administration. COVID-19, which is currently ravaging the world has become an impediment to reach out physically in the engagement process, but we shall overcome the challenge” Akporiaye said. According to her, this is the birth of a new beginning as the incoming executive takes over under her leader...

Mar272020 by Joshua OlotuNo Comments

Employers seek buffer for businesses to avert job losses

Business

While the coronavirus pandemic lingers, employers under the auspices of the Nigeria Employers’ Consultative Association (NECA), have called on President Muhammadu Buhari to take more specific steps in providing palliatives and support to organised businesses to avert massive job loss and loss of revenue to government. The group, which commended the Federal Government and the Central Bank of Nigeria (CBN) for various interventions and palliatives aimed at ensuring business continuity, however, argued that the implications of the pandemic on businesses could lead to closure of companies, massive job loss and loss of revenue to government. Noting that Nigeria was not in isolation, they advocated the same measures and a host of others that are being implemented globally by governments t...

Mar272020 by Joshua OlotuNo Comments

CBN, private sector form committee against COVID-19 crisis

Growth & Insight

The Central Bank of Nigeria (CBN), in collaboration with the bankers’ committee and the private sector, led by Aliko Dangote Foundation and Access Bank, has announced the formation of the Nigerian Private Sector Coalition against COVID-19. In a statement by the CBN, the coalition was created due to the urgent need to combat the unfolding COVID-19 crisis in Nigeria Members of the group include: the CBN Governor, Godwin Emefiele, Aliko Dangote, Herbert Wigwe, Jim Ovia, Tony Elumelu, Segun Agbaje, Abdulsamad Rabiu and Femi Otedola. Already, the coalition has set up four major groups comprising of steering, funding, operational and technical committee to oversee the leadership, funding, project management and data collection for the group. The steering committee will b...

Mar262020 by Joshua OlotuNo Comments

Wema Bank Supports Abule-Ado Victims

Growth & Insight

Wema Bank Plc said it has made a financial donation to the Lagos State government as part of its contribution to the victims of the recent pipeline explosion in Abule Ado community. Accompanied by senior executive staff, the Managing Director/Chief Executive Officer, Wema Bank Plc, Ademola Adebise made the donation recently. Adebise, who commended the state government for taking rapid efforts in providing relief for the victims of the tragic incidence, said it was necessary for the bank to support the effort of the government. “While our thoughts and prayers are with the families of the victims, those who lost their lives and those recuperating in the hospitals, we commiserate with them and have decided to contribute to the fund set up by the Lagos state government to help amelio...

Mar262020 by Joshua OlotuNo Comments

COVID-19: FCMB Guarantees Hitch-free Services, Rolls Out Safety Measures

Economy

First City Monument Bank (FCMB) has assured its customers of prompt and convenient financial services accessibility and delivery despite the ongoing challenges posed by the COVID-19 (coronavirus) pandemic in Nigeria. The assurance followed the full activation of the bank’s business continuity plan and implementation of safety measures for customers and staff to contain the spread of the pandemic. According to a statement, the action was in line with the customer-first approach philosophy of the bank and best practice international protocols, including the recommended measures by the World Health Organisation (WHO) and the Nigeria Centre for Disease Control (NCDC). This it added, was in addition to compulsory enforcement of temperature screening, the use of hand sanitisers for all...