FBN Holdings injects N25 billion into FirstBank

FBN Holdings Plc (FBNH) has announced the injection of N25 billion equity capital into its commercial banking subsidiary, First Bank of Nigeria Limited.

The Capital injected represents part of the net proceeds of the company’s divestment from FBN Insurance Limited.

IMF lowers 2020 oil demand by 8 per cent amid high uncertainties

The coronavirus crisis will see global oil demand dropping by around eight percent this year, compared to last year, the International Monetary Fund (IMF), has said in a new report.

This year, oil prices will be 41 percent lower than in 2019, the IMF said in its ‘Global imbalances and the COVID-19 crisis’ external report. The direct impact of the low oil prices on oil trade balances will vary across economies, reflecting their dependence on oil exports and imports, according to the IMF.

Total loans to businesses In Nigeria hit N18.9 trillion in one year

Total gross credit for various transactions in Nigeria rose by N3.33 trillion from N15.56 trillion at end-May 2019 to N18.90 trillion at end-June 2020.

These credits were largely recorded in manufacturing, consumer credit, general commerce, and information and communication and agriculture, which are productive sectors of the economy.

Dollar slips as yields dive on recovery worries

The dollar fell in Asia on Wednesday, hitting a five-month low on the yuan, as the latest coronavirus relief package stalled in Congress and U.S. yields sank on the prospect that further monetary easing might be needed to support the economy.

A hardening perception that the U.S. recovery is lagging Europe has buttressed the euro, which has repelled a rebound in the dollar and rose back above $1.18 on Wednesday.

Samsung unveils new version of folding smartphone

Samsung on Wednesday unveiled an upgraded version of its folding smartphone along with other devices aiming to jump-start sales in a market hit hard by the global pandemic.

The Galaxy Z Fold2 was one of several new devices announced at a livestreamed event by the South Korean electronics giant, which recently lost the top position in the smartphone market to China-based Huawei.

Nigeria missing from Africa’s $311 million aviation bailout Fund

Airlines on the African continent have amassed a total of $311 million bailout funds from governments’ bailout funds, but conspicuously missing among the “aviation-friendly nations” is Nigeria.

Although the Federal Government of Nigeria has since May pledged to support the local sector with at least N27 billion in loans and grants, the sector is yet to receive the pledge despite resumption of flight operations.

Nigeria leads Egypt, Kenya, attracts $747m venture capital investments

The National Information and Technology Development Agency (NITDA), has listed Nigeria among the top three countries in Africa attracting largest volume of investments from venture capitalists for technology startups and hubs.

The Director-General of NITDA, Kashifu Inuwa Abdullahi, in an interview, said interestingly, Nigeria occupied the first position with a total investment of $747 million, followed by Kenya with $564 million, and Egypt attracted $211 million in 2019.

How Cameroonian Lady was Shot Dead After Twerking – VIDEO

So sad …This viral video reaching us at Naijabizcom news desk is of a Cameroonian lady was said to have been allegedly shot by her boyfriend after a video where she was twerking for another random man surfaced online.

In the slide you can hear background voices of the alleged murderers.

How 51-Year-Old Mother was Caught While Trying To Break Her Son Out Of Jail By Digging A 10ft-Deep Tunnel

The 51-year-old woman, who has not been named, rented a house near the jail in the southern Zaporizhia region where her son is serving a life sentence.

51-Year-Old Mother Jailed After Attempting To Break Son Out Of Jail Image TSN News Ukraine

See Moment A Nigerian Nanny Rescued Her Boss’ Child During The Explosion That Rocked Beirut – VIDEO

A video is currently circulating online showing a nanny rescuing the baby during the explosion.

The Moment A Nanny Rescued Her Boss’ Child During The Explosion That Rocked Beirut