BUSINESS

Forex defaulters to face prosecution- CBN

Daily Dispatch January 17, 2024

The Central Bank of Nigeria has said it is set to prosecute forex defaulters in the country. Mrs. Sidi Ali, CBN Acting Director of Communication, disclosed in a statement in Abuja on Wednesday. Nigeria has nearly $7 billion in forex forwards that have matured which is a major concern for

BUSINESS

FG set to launch naira stablecoin

Daily Dispatch January 6, 2024

The Central Bank of Nigeria (CBN) has approved the launch of the Nigerian naira (cNGN) stablecoin. The cNGN, which will be launched on February 27, 2024, is powered by the Africa Stablecoin Consortium (ASC), a consortium of Nigerian financial institutions, fintechs, and blockchain experts. Stablecoins are cryptocurrencies specifically designed to maintain a constant value.

BUSINESS

Port Harcourt refinery to complete test-run this month -NNPCL

Daily Dispatch January 5, 2024

The Nigerian National Petroleum Corporation Limited has revealed that test runs at the 60,000-bpd Port Harcourt refinery will be completed this month. “Testing will conclude shortly, ensuring the refinery’s efficient operation. That phase will be completed this month,” Reuters quoted NNPC spokesperson, Femi Soneye, as saying. Soneye added that the test run was a major step

BUSINESS

Breaking: NNPCL speaks on allege propose fuel increase

Daily Dispatch January 3, 2024

The Nigerian National Petroleum Company (NNPC) Limited has reacted to a media report alleging fresh plans to increase the price of petrol to N1,200 per litre. Social media platforms, on Wednesday, have been awash with rumours of a new increase in the price of fuel across the country. Reacting to the rumour, which has continued […]

BUSINESS

2024 Budget Implementation: President Tinubu directs MDAs to provide monthly performance reports

Daily Dispatch January 2, 2024

President Bola Tinubu on Monday, January 1, 2024 directed all Ministries, Departments and Agencies (MDA’s), to take responsibility and provide monthly Budget Performance Reports to the Ministry of Budget and Economic Planning, which in turn shall ensure the veracity of such. This was as he said that the Minister of Finance and Coordinating Minister of […]

BUSINESS

Sterling Bank appoints Mayaki as new Board Chairman

Daily Dispatch December 31, 2023

Sterling Bank Limited has announced a strategic change in its Board of Directors, with Mr. Olatunji Mayaki assuming the role of Chairman of the Board effective January 1, 2024, following the resignation of Mr. Asue Ighodalo, effective December 31, 2023. In a statement released by the Company Secretary, Temitayo Adegoke, “The resignation of our erstwhile […]