BusinessDay 20 May 2020

Page 1

businessday market monitor

Biggest Gainer Nestle N1000

4.00 pc

FMDQ Close

Everdon Bureau De Change

Bitcoin

NSE

Foreign Exchange

Biggest Loser Custodian N6.3

23,892.92

Foreign Reserve - $34.92bn Cross Rates GBP-$:1.22 YUANY - 54.96

Commodities - 9.52 pc Cocoa US$2,412.00

Gold $1,736.11

news you can trust I ** wednesDAY 20 may 2020 I vol. 19, no 567

₦4,249,329.15 +1.43

N300

Sell

$-N 445.00 467.00 £-N 525.00 542.00 €-N 455.00 473.00

Crude Oil $30.30

I

Buy

g

www.

Market

Spot ($/N)

I&E FX Window CBN Official Rate Currency Futures

($/N)

fgn bonds

Treasury bills

386.33 361.00

3M 0.00 2.05

NGUS apr 28 2021 420.06

6M

-0.10

10 Y 0.00

30 Y -0.19

10.02

11.21

12.44

5Y

0.00 2.58

NGUS apr 26 2023 495.06

NGUS apr 30 2025 583.44

@

g

g

FG asks businesses, schools, others to adopt new strategies ahead of reopening … as Lagos releases additional guidelines JOSHUA BASSEY (Lagos) & TONY AILEMEN (Abuja)

T President Muhammadu Buhari (r), receiving Theophilus Yakubu Danjuma, former chief of army staff and minister of defence, during the latter’s visit to the president at the Presidential Villa in Abuja.

Nigerian employers in gruelling battle to keep staff LOLADE AKINMURELE

N

igerian employers are fighting to keep staff on their payrolls amid the financial pain inflicted by the COVID-19 pandemic, according to the Nigeria Employers’ Consultative

As COVID-19 pressure mounts

Association (NECA), the umbrella organisation of employers in the Organised Private Sector. Economic activity in Nigeria, like in other countries, has been hammered by the pandemic, but businesses in the West Af-

rican country may be faring worse than in countries where government palliatives from tax holidays to other forms of support have helped soften the blow of the pandemic. Staff layoffs in the private

sector, which employs some 90 percent of the country’s total workforce, will worsen what is already a precarious economic situation for Africa’s most popuContinues on page 7

he Federal Government on Tuesday asked businesses, offices, professional bodies, places of worship and educational institutions awaiting reopening to use the additional two weeks of phased ease of lockdown to plan and adopt new strategies under a COVID-19 era in line with the guidelines for the new life ahead. The government also urged Nigerians to prepare for “behavioural change” which “is a must for every citizen because COVID-19 has changed the world completely”. The government had on Monday said it would maintain the current guidelines on “ease of Continues on page 7

Inside

Terms Nigeria must meet to access $1.5bn World Bank credit P. 6 NLNG Train 7 project attracts $3bn financing from 31 lenders P. 6


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.