FINANCE - 04 MAY 2020

DB: Uber plans face mask policy; CBN suspends lay-offs; CO2 emissions to drop

DB: Uber plans face mask policy; CBN suspends lay-offs; CO2 emissions to drop
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Uber plans face mask policy with detection tech


As lockdown restrictions ease globally, Uber is planning a face mask policy for drivers, with a technology to monitor usage. Like other travel businesses, Uber has been hurt by the pandemic (it is considering laying off 20% of its staff & its CTO, Thuan Pham, is stepping down). However, Uber looks to restore its earnings & aims this proposed policy will encourage drivers’ return to operations, with plans to provide masks & disinfectant sprays. Uber will release its Q1 report this week.


CBN suspends lay-offs in banks


Following a special Bankers’ Committee meeting on May 2, the CBN requested that banks suspend laying off staff indefinitely. Banks are to get approval in cases where necessary. This is because of the economic impact of COVID-19 on individuals and families. The financial services sector currently employs over 1 million people which is about 1.3% of the labour force.


Oil and Gas

CO2 emissions to drop by 5.5% in 2020


Energy analysts have predicted that global carbon dioxide emissions from fossil fuels will drop by 5.5% or 1.85 billion metric tons in 2020, 2.1 percentage points shy of UNEP's target of 7.6%. This is on the back of reduced demand for oil, coal and natural gas as a result of the coronavirus pandemic. Energy intelligence analysts, Enerdata, estimates that Nigeria contributed 0.3% of global CO2 emissions in 2018.


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