CBN Okay Reduction Of Rate Through OFIs

As part of its continued effort to mitigate the impact of the corona virus (COVID-19) on households, businesses and regulated institutions, the Central Bank of Nigeria (CBN), has reduced interest rates on its facilities through participating Other Financial Institutions (OFIs) from 9% to 5% per annum for one year effective March 1, 2020. The Bank, in a circular signed by the Director, Financial Policy and Regulation Department , Kevin Amugo, and issued on Wednesday, May 27, 2020 in Abuja, also announced that CBN intervention facilities obtained through participating OFIs –…

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Facebook Propagates Remote Work After CoVid-19

Facebook chief Mark Zuckerberg said Thursday remote work is here to stay, and that half of the social network’s staff could be doing jobs from afar within a decade. Zuckerberg devoted a live-streamed “town hall’ meeting with employees to how a remote-work trend compelled by the pandemic is being embraced by employees without affecting productivity. READ ALSO: https://theemage.com/eid-fitri-fg-declares-25th-and-26th-as-public-holiday/ He outlined steps Facebook will take to adapt operations to remote work for the long-term, saying it is quite possible that about half of the company’s employees could doing their jobs that…

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