Stock Market Update:

Nigeria’s equity market is currently up by 0.26%, FTSE (UK) – up by 0.54%, DAX (Germany) – up by 0.98%, CAC 40 (France) – up by 0.20% and Nikkei 25 (Japan) – down by 0.04%.

Oil Market Update:

Major oil producers led by Saudi Arabia (OPEC+), Russia (non-OPEC) and United States will meet today via a video conference and also a G20 energy ministers’ video conference on Friday, 10th April 2020. The purpose of the meeting is to discuss ways to potentially cut global crude oil production by 10 million bpd.

The outcomes of their meetings are crucial for the stability of global oil prices, Nigeria’s foreign reserves and the Naira. However, the proposed cut may not be effective enough to position oil prices for appreciation for long because of looming weaker demand projected to hit 20 million bpd in Q2. In the least, the agreement to cut production will eliminate the price war between the two major oil producers which has been one of the factors responsible for the crash in oil prices.

Money Market Update:

Our money market fund is still open and yield is currently over 11.5%, reach out to our team to grow your cash. We are digital, we are working from home, we are online and we are active. You can also do deposits with us at a starting rate of 10%.

COVID-19 Update:

Nigeria’s COVID-19 cases are now 276, compared to other developed countries, that shouldn’t be a worry. However, the rate at which it’s doubling should worry us all. Nigeria is now doubling every 11 days and two of the countries that share the same borders with us are also currently doubling every 3 days (Niger) and 4.5 days for Cameroun.

You would recall that Nigeria’s first case was confirmed on 27th February 2020. On the same day, UK had just 15 cases but now they have over 60,000 cases. Spain had just 22 cases but now have over 148,000 cases.

Our position isn’t that bad but we need to patiently stay at home to kill the transmission.

Stay Safe!

Click on the link https://bit.ly/2XrvIf9 to open a stockbroking/share purchase account and trade within 24 hours.

As the battle against the coronavirus pandemic takes center stage, the world has turned to the internet for businesses that have virtual alternatives. There has been tremendous increase in online activities, especially teleconferencing. However at the same time, many online businesses are plunging as a result of plummeting economic activities on and off the internet, putting even tech giants in disadvantaged positions.

Google, Facebook, Twitter etc. and every other social media company are witnessing massive decline in ads, as most of the startups fueling it have been badly hit by the pandemic.

Major layoffs are taking place in many companies as they gasp for surviving air to stay in business. Direct-to-consumer online firms that sell great products ranging from clothes, food and wearables are facing a rocky downturn as purchases decline.

The decline in purchases means the firms, many of them startups, will have to reduce the number of ads they buy. And it is happening swifter than imagined that ads in social media platforms have slowed down at least to 50%.

About two weeks ago, many startups were notably laying off 20% of their workforce as the economic pressure of the virus intensified. Now, cut in work employees are getting to half of the company’s workforce.

Redfin has cut 41% of its staff, including agents, recruiters, renovators etc. A Boston-based well-funded startup that sells hardware and software to restaurants laid off about 1,000 workers on Tuesday. The firm is said by PitchBook to have over 2,400 workers earlier this year. And many more are going to happen in the coming weeks as everyone is racing to salvage what he can.

Though it is more like a panic reaction, these mostly are the companies who buy ads and keep social media advertising spaces busy. But there is hope that many of them will stay in business as governments continue to dole out bailout funds for small businesses.

The U.S. seems likely to expand the figures of the government’s Protection Program. The original $350 billion fund rolled out to help small businesses stem the tides of the pandemic appears to be running out not quite long after the program started.

The Senate majority leader Mitch McConnell and minority leader Schumer said they support putting additional $250 billion into the program.

Canada has followed suit, committing $107 billion in support of small businesses struggling to survive. This it plans to implement by altering the summer jobs program to accommodate more people (70,000) during this time. That way, small businesses and organizations will have an austerity fund to lean on and survive the coronavirus turmoil.

“Small businesses and community organizations are the backbone of our economy, and a critical lifeline for communities across this country. They are facing economic hardship and unprecedented service demands during the COVID-19 pandemic, and that’s why we are taking action now to get them the financial help they need to keep their doors open and support their communities,” said Prime Minister Justin Trudeau.

But with the cases of coronavirus rising in the United States and Canada, it is obvious that the fund will not sustain thousands of businesses depending on it. So the situation calls for more than government intervention.

Facebook had earlier set out $100 million to help small businesses around the world. Though the fund seems quite insignificant, it beckons on others to show concern about the little ones who have been responsible for the enormous revenue the tech giants have been amassing over the years.

In the U.S. the tech giants have $570 billion cash reserve to fall back on, a part of the government’s measures to keep the economy alive.

The CEOs of the big tech companies have been donating handsomely to the cause of COVID-19 elimination.

Twitter CEO Jack Dorsey announced on Tuesday he is giving $1 billion, 30% of his wealth to the fight against the pandemic. Others have responded too. Bill Gates, through the Bill and Melinda Gates Foundation has been forth and doing with funds and research for a cure for the COVID-19 pandemic.

The fight to halt the pandemic from spreading is paramount but making sure that small businesses survive is also important. And it has become apparently a job that governments need help with, especially in developing countries where small businesses are not likely to get bailouts from governments. Analysts believe that Google, Twitter and others should follow the steps of Facebook, donating to support small businesses around the world in order to ad spaces bubbling with sales.

Media executives are already reporting 50% decline in ad bookings, and analysts believe that none of the big tech companies are immune to it.

According to Standard Media Index, which tracks advertising trends: “Ad platforms like Facebook and Google will lose $50 billion ad revenue cumulatively over the next four years in the U.S. from small and medium-size businesses going out of business as a result of the pandemic lockdowns.”

The eruption of Coronavirus epidemics has turned a lot of people into scientists, researchers, broadcasters and medical practitioners. Within the past three months, the world has received more than its share of speculative information on prevention, cure and causes of the novel Coronavirus disease. The way verifiable and unverifiable information on this disease fly about these days reminds me of stories I have read and heard about how false news and information led to the demise of many during the Nigerian Civil War.

Just as it happens in periods of war, information and news on COVID-19 come from only God-knows-where and spread as fast as wildfire. People stay behind their computers and phones to draft up messages and throw into the air. These messages develop wings and fly all over the earth and by the time they come back to their senders they have grown more feathers – no thanks to the internet.

The problem with these unverified news and information is that they cause a lot of havoc wherever they go. For instance, four out of the six COVID-19 related deaths in Nigeria, as at the time of writing this article, happened because the deceased and their families failed to notify NCDC of their travel history (or contacts) and their symptoms up to the point of death. Of course, I am not in a position to say that they failed to contact NCDC because they believed in all the funny and fake information flying all over the earth about COVID-19. But for the fact that they knew they were exposed to the disease and that they developed its symptoms later, indicates that their decision to either ignore it or to manage it from home is a sign that they were not only victims of COVID-19 but also that of speculations.

It will be good to note here that these false information were not only circulated by illiterates, but also by the educated. Even some health workers believed they have the right authority to spread them because their profession gives them credence. This is to say that these lies, fallacies and conspiracy theories have eaten deep into people’s mind so that many are now unsure of what is true and what is not.

Below are some of the speculative information circulating around the world on COVID-19:

Effects of COVID-19

• Permanent Damage to the Lungs: This speculation stated that anyone that suffers from COVID-19 will forever have damaged lungs. It went as far as saying that most of them will be permanently dependent on machines to breathe.
• Constant Relapse: This speculation said that the sickness will constantly revisit its victims. It was made to look as if once someone is hit by COVID-19 the person is doomed for life.
• Non-Fatal Features: This theory stated that COVID-19 is not fatal. It holds that fear of the disease and other underlying illnesses are the causes of death of those that died from this disease.

Preventive and Curative Measures for COVID-19

• Gargling with Hot Salty Water: The reason behind this is that hot salty water will disinfect the throat cavity (the pharynx) and kill the virus if it lodges there.
• Drinking Hot Garlic and Ginger Solution: The person that sent this to me claimed a Biochemist confirmed that its detoxifying property can remove the virus from the human body.
• Drinking Hot Lemon Water: This is also expected to prevent COVID-19 and help in managing it if contracted. This can help considering that lemon is high in Vitamin C; but dosage and administration to help in combating the ailment is not certain. Besides, ulcer patients may not enjoy lemon juice in their system.
• Lemon Juice and Baking Soda Solution: This is supposed to be prepared as a hot tea. The information on this one claimed it was used by the Israelis to combat the illness. The false news claimed that Israel did not record any COVID-19 case or death. But we can see how false that news is today.
• Others: Other speculated preventive measures and cures for COVID-19 include eating lots of garlic and onions, face steaming, drinking hot water, avoiding cold food and water, and so on.

Those Unaffected by COVID-19

• The Blacks: It was initially speculated that black people are not at risk of contracting COVID-19 no matter where they are in the world. Maybe this was the reason many Africans travelled to high-risk countries despite knowing about the presence of the virus.
• Countries in the Tropics: Until the first confirmed case of COVID-19 in Nigeria, it was believed that the virus couldn’t withstand the heat of the tropics. The reported deaths related to the virus have shown that the virus knows no season, climate, weather or race.

Conspiracy Theories Trailing COVID-19

This is where there are many controversial reports that may cause lots of harm to the entire universe. Despite scientists’ reports showing that the virus originated from animals, a lot of people have come up with accusations and counter-accusations concerning the origin of COVID-19.

Below are some of the conspiracy theories existing as at the time of writing this article:

• Coronavirus is created and spread by China so that they can dominate the world by destroying the economy of other nations.
• Coronavirus is a biological weapon created by China or the USA, or the two of them together.
• COVID-19 was created by the New World Order, Illuminati or G.7 (all accused differently) so as to fulfil a prophecy in the Bible.
• Virus is not a living thing; it is an inorganic substance that is made organic in a lab.
• The 5G network causes COVID-19.
• COVID-19 is not the killer; radiation from 5G masts is the killer.
• COVID-19 is a phantom created as an excuse for lockdown so that 5G masts could be installed.
• 8. 5G caused the sickness with COVID-19 symptoms so that scientists will develop a vaccine in the name of COVID-19 and then forcefully vaccinate everyone on earth.
• The COVID-19 vaccine will install microchips that will be used to monitor everybody on earth.
• The microchip in COVID-19/5G vaccine is the Mark of the Beast, which will introduce the reign of the devil.
• COVID-19 is the prophesied end of the world, so Rapture will happen soon.

There are so many other embarrassing and slanderous conspiracy theories that will be too scandalous and sensitive to include here. But what everyone should know is that the world is at war with an invisible enemy and the false news, information and accusations flying about are examples of what happened during the war.

For this, it is necessary that concerned authorities should continue to address their citizens especially concerning any speculation that rears its head up. They should sensitize religious leaders, who are closer to the masses, so as to restore tranquillity through them. They should also call out any public figure that spreads any of these falsehoods to prove his/her assertions or face jail terms. People that are quick to share these information in social media without first verifying them from appropriate quarters should also be discouraged.

If nothing is done, and done fast at that, I fear that COVID-19 may find matching competitors in fear, public unrest, riots and suicides.

Two weekends ago at work seemed a beautiful day with all the characteristics of a weekend, holding Covid-19 constant. We were all in high spirits going about our business until someone expressed concern that a colleague who went to use the restroom had not returned when she should.

She was found on the floor wreathing in pain and vomiting. We carried her to a well-ventilated area and started administering first aid. “’My head is hot.’ ‘I am cold.’ ‘I can’t feel my hands’” were some of the words she mustard strength to utter as she got more and more unconscious. We were restless not knowing what was wrong. 

Our boss had to order the driver to abandon the assignment uptown and return with the vehicle that there was an emergency. As the bus drove into the compound, I had already lifted her from the floor running to its direction. I was expecting to be helped by my colleagues who were in the bus but they all dashed away immediately their feet touched the ground. “Mark (all names in this article are not real names), get in from the other side and help me,” I beckoned to a colleague that had been on the ground. Our boss had a gallon of water put inside the vehicle for us to stabilize her temperature on our way to the hospital. 

Michael drove like he had never driven before. Thank goodness the road was relatively free but the ditches were many. Stretched out with her head on Noah’s thighs and her legs over mine, there were moments of tranquility and spasm. With my right hand holding her legs in place my left hand holding her hands giving the necessary warmth she needed. Stop saying what you feel, just call on the name of Jesus only. You will be fine. Nothing will happen to you. Hold on, we are almost there, I encouraged her. I could hear Shade, her buddy sitting beside the driver chanting the name of Jesus.

As we got to the hospital we were quickly ushered into the emergency room with the doctor and his nurses taking charge. The doctor asked what was wrong and Shade told him how she frequented the restroom after having a breakfast of Milo and bread. Her blood sample was taken and she was treated after sedation. 

About two hours later she woke up and the doctor came and checked on her saying she had taken poison. “But I warned you guys sometime ago that the N50 Sachet Milo is poisoned,” Michael exclaimed. He then showed us a video on YouTube where a Fulani man, apprehended though, demonstrated how he had been poisoning the beverage and sending it to the East. Despite this revelation, we cannot establish without a proper investigation the source of the poison due to the fact that this environment is rife with food poisoning as a result of the poor sanitary conditions. I have suffered mild food poisoning eating out on three occasions. 

As I returned to the office, it was one commendation after another: You are a hero. You should be awarded the employee of the year. God bless you. You surprised me, you wife will enjoy you (funny one). Our boss also expressed his appreciation. I did not see the reason for all these praises until when someone called me and asked, “Are you not afraid for your life; don’t you know there is Corona?”I replied to him immediately, “I can’t stand aside and watch someone die because I want to save my life.” 

It now dawned on me the motivation for their behavior from the onset. It’s Corona-phobia! They believed she was infected with Covid-19. This explains why they all ran for cover as I approached the vehicle. Even one of them that knew how to get to the hospital refused to come along, he stood afar to give us the direction. More shocking, on our way home we pulled into the hospital to check on her and only a few of us including our boss went in, the rest stayed put. Throughout the journey home, I marveled at their behavior. 

Finally, my purpose for sharing my experience is not to name and shame anyone or to single myself out for glory. I was only one of the actors. Everyone that acted deserves commendation. I just want to let my readers know that true love is giving even our lives for others to live. Remember the story of the Good Samaritan. No doubt Covid-19 is a devastating pandemic but I fear the widespread hysteria will make many victims through loss of love. It was Martin Luther King Jr. that said no one deserves to live if he can’t die for something. We are humans and our survival is tied to our humanity.

Together we shall overcome through love!