Welcome to Law Reporters roundup of the top 10 headlines for today Monday, October 26th, 2020
1. CBN Deducts N917.5bn From Customers’ Accounts Across Nigerian Banks
According to CBN regulation, in line with the CRR, Nigerian banks are expected to leave 27.5% of customers’ money for the Godwin Emefiele-led bank to deduct.
2. SERAP recommends ICPC probe COVID-19 palliatives hoarding in Lagos, others
SERAP asked the agency to ensure prompt and effective prosecution of anyone suspected to be responsible for hoarding and diversion palliatives that were meant to cushion COVID-19 impacts the citiens their incomes.
3. Guinea Insurance Releases Earnings For Q3 2020
Law Reporters gathered from the statement that Guinea Insurance’s gross premium written stood at NGN795.77 million, for the year ended September 30, 2020, failing to surpass the NGN1.02 billion reported for the corresponding period of 2019.
4. ENDSARS: Access Bank To Giv SMEs N50bn Interest-free Loan
Access Bank said the fund will be disbursed to assist communities, small and medium-sized businesses, stating that it can’t simply stand by and send messages of solidarity, while continuing ‘business as usual’ without getting the bank’s customers and communities back on-track.
5. Airtel Africa Surviving On Nigerian Subscribers As Revenue Grows By 10.7%
Law Reporters gathered that Airtel Africa, the parent company of Airtel Nigeria, secured 20.2% revenue growth in Nigeria, placing the country as its highest market in sub-Saharan Africa. Airtel Africa has over 39.79 million voice subscribers and data subscriber base of over 54.76 million in Nigeria
6. Lafarge Africa Releases Q3 2020 Financials
Lafarge Africa’s revenue or profit was not dragged down by the rise in the cost of production, which hit NGN45.53 billion in Q3 this year, surpassing the NGN33.03 billion reported in the corresponding period of this year’s third quarter.
7. South West Govs, Ministers pay condolence visit to Sanwo-Olu
South West Governors, accompanied by three Ministers, on Sunday paid a condolence visit to Lagos Governor Babajide Sanwo-Olu on the looting and arsons of public properties and institutions last week by suspected hoodlums.
8. Don’t Incite Ethnic Crisis, Ogun Govt Warns Groupss
9. ENDSARS: Lagos State Creates Recovery Fund For Small Businesses Destroyed By Thugs
The recovery fund is supported by the Lagos State Employment Trust Fund (LSETF). To apply for the fund, click this link
10. Job Creation, Economic Growth Critical To Checking Youth Restiveness, Ex-Leaders Tell Buhari
The generation of employment and economic growth, including through direct foreign investments are critical to checking youth restiveness in the country.