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COVID-19: Abuja, Lagos hotels shun use of facilities as isolation centres –Minister

The Minister of Foreign Affairs, Mr Geofrey Onyeama,  on Tuesday said most hotels in Abuja and Lagos had refused to be used as Quarantine centres for Nigerian returnees abroad.

Onyeama also said the affected hotels had rather preferred to be empty than accommodate suspected Coronavirus patients.

The minister disclosed this at the Presidential Task Force on COVID-19 daily press briefing in Abuja.

IMF, World Bank urge action to cover $44 bln gap in Africa's pandemic needs

African leaders, the IMF and the World Bank on Friday appealed for rapid international action to help African countries respond to the coronavirus pandemic that will cause the continent’s economy to shrink by 1.25% in 2020, the worst reading on record.

IMF Managing Director Kristalina Georgieva told ministers, U.N. officials and others that the African continent lacked the resources and healthcare capacity to address the crisis, and needed at least $114 billion to cover urgent fiscal needs.

Developing countries unlock key industries to safeguard earnings and jobs

From Africa to Asia and Latin America, emerging countries disproportionately bruised by the COVID-19 pandemic are allowing some key industries to start back up in a bid to soften the economic blow.

This tentative unlocking highlights the balancing act for developing nations as they seek to protect their people while averting an economic collapse some fear could do more damage than the disease itself.

Nigeria urges 'appropriate' debt solutions for middle-income countries

Nigeria’s finance minister said a debt relief agreement reached this week to help the world’s poorest countries deal with the coronavirus pandemic was a welcome first step but that middle-income countries with debt challenges also needed urgent help.

In remarks to be delivered at Friday’s meeting of the World Bank’s Development Committee, Zainab Ahmed said most countries in sub-Saharan African were particularly vulnerable to the pandemic because high rates of self-employment meant social distancing could not be sustained for long.

Nigeria’s private sector coalition contribution against COVID-19 hits ₦19.4b

The Nigerian Private Sector Coalition Against COVID-19 (CACOVID) has so far realised N19.4 billion to help fight COVID-19 pandemic.

A statement issued on behalf of the coalition by the Director, corporate communications, CBN, Isaac Okorafor, revealed that 47 donors, including individuals, banks and other corporates have supported the fund. In the statement, showed that four contributors also pledged to redeem N3.4bn.

Voice of Nigeria recalls that the Central Bank of Nigeria  recently announced plans to raise about N120bn to curb the coronavirus pandemic.

Business booms for coffin-makers in coronavirus-hit France

Two hauliers load their lorries with what is fast becoming a precious commodity in France as the coronavirus pandemic takes its dreadful toll - coffins.

While most businesses have shut their doors as part of a national lockdown designed to slow the spread of the disease, the coffin-making factory in the sleepy town of Jussey in northeastern France can barely keep up with the orders, Reuters reports.

France has confirmed nearly 60,000 cases of the coronavirus and as of Friday 5,387 deaths, the fourth highest tally in the world.

Airlines face ‘deepest crisis ever’ amid Coronavirus pandemic

As the novel coronavirus continues to spread, the head of the trade group representing the world’s airlines, the International Air Transport Association has described losses in the industry as “its deepest crisis ever,” news agency reports.

According reports, commercial flights have stopped an analysis have shown that there have been series of sequential and precipitous declines in flights in four key regions.

From March 24 to March 30, FlightAware tracked about 280,000 flights, down almost 500,000 from the same week a year earlier.

Nigeria needs ₦120b for coronavirus battle, turns to private sector

Nigeria has appealed to private companies to make voluntary contributions towards the 120 billion naira ($330 million) that the government says it needs to fight the coronavirus epidemic, Reuters reports.

“So far, the federal government has made giant strides in the fight but it is clear that the private sector needs to step in and support efforts already being made,” Central Bank Governor Godwin Emefiele said.

Nigeria imposes cargo vessel restrictions to curb coronavirus spread

Nigeria will only allow cargo vessels that have been at sea for more than two weeks to dock in its ports to prevent the spread of coronavirus, President Muhammadu Buhari said on Thursday.

Health experts fear a widespread outbreak in Africa’s most populous country of 200 million people which could overwhelm its creaking healthcare system.

Nigeria has closed its land borders and international airports in the last week to curb the spread of the virus.

Exchange Commission calls for more retail investors

The Securities and Exchange Commission (SEC) has called on the Nigerian media specifically capital market correspondents to intensely cooperate with the capital market regulators and other stakeholders to foster more domestic investor participation in the retail Market.

The Acting Director General of the Securities and Exchange Commission, MS. Mary Uduk, said this while giving her speech as the key note speaker at the just concluded forum organized by the Capital Market Correspondents Association of Nigerian (CAMCAN).