Business

COVID-19: CBN’s healthcare scheme as boost to FG’s response

  With the Central Bank of Nigeria (CBN)’s recent release of guidelines on its Healthcare Sector Research and Development Intervention Scheme (HSRDIS), the Federal Government can now claim that Nigeria is among nations that are taking steps to develop a vaccine and drugs against the COVID-19, writes Tony Chukwunyem     I n early April, […]

Business

Covid-19: World Bank, others seek transparency in public spending

COUNSEL Governments should adopt ‘balance sheet’ approach in managing finances   The World Bank and two major accounting bodies, the Association of Chartered Certified Accountants (ACCA) and the International Federation of Accountants (IFAC), have called on governments around the world to find ways of avoiding having to reduce spending and increasing taxes after the coronavirus […]

Business

BDCs gear up to resume forex sales

POSITIVE CBN expected to resume sales to BDCs when international flights resume   T he Federal Government’s announcement, last week, that international flights would resume in weeks, has pushed Bureaux De Change (BDC) operators in the country into making preparations for an imminent resumption of foreign exchange sales in their segment of the market, findings […]

Business

ARC, Africa CDC, partner on COVID-19 modelling tool

T he African Risk Capacity (ARC) and the Africa Centres for Disease Control and Prevention (Africa CDC) have launched two COVID-19 modelling tools for Africa: “COVID-19 Potential Outcomes Scenarios and COVID-19 Spread Simulation Tool for Africa.”     In a statement, the organisations said the tools would help African Union (AU) Member States in evaluating […]

Business

Old Mutual supports Lagos remote learning drive

I n response to the COVID-19 inspired shutdown of schools in Lagos State, the Nigerian subsidiary of pan-African  insurance firm and global financial services provider, Old Mutual Limited, has  partnered the Lagos State Ministry of Education to drive remote learning for students  in vulnerable communities.     Senior representatives from Old Mutual and the Lagos […]

Business

Basel Committee releases documents on risk, resilience

T he Basel Committee has released operational resilience and principles for the Sound Management of Operational Risk (PSMOR) consultative documents.     In a statement posted on its website, the Committee said: “In recent years, the growth of technology-related threats has increased the importance of banks’ operational resilience. The Covid-19 pandemic has made the need […]