Japheth Jev, ACMA, CGMA, is the CFO at Triumph Power and Gas Systems Limited, an energy servicing company based in Lagos, Nigeria. The company has 102 employees and $1.3 billion in annual revenue and provides support services such as generators, turbines, and marine equipment to global oil and gas companies operating in Nigeria.
The COVID-19 crisis had an immediate impact on Triumph, according to Jev. Several major projects, on which the company’s 2020 budget was based, were cancelled or deferred indefinitely as the pandemic spread. Concurrently, the finance department had to cope with the technological challenges that come with quickly transitioning to remote working.
FM magazinespoke to Jev recently about how the COVID-19 blew up his 2020 budget, how cash management became critical, and the most essential soft skill he needed to navigate the crisis. Read more…..
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CNBC.com’s MacKenzie Sigalos brings you the day’s top business news headlines. On today’s show, CNBC’s Ylan Mui reports that a Covid-19 vaccine could be cleared for emergency use and shipped out before many states have the money necessary to distribute it to their residents.