BUSINESS

S’Court verdict: CBN issues fresh directive to banks

Daily Dispatch November 29, 2023

The Central Bank of Nigeria (CBN) has directed all its branches to continue to issue and accept all denominations of Nigerian banknotes, both old and re-designed ones, to and from deposit money banks (DMBs). This was contained in a statement on Wednesday by the apex bank’s spokesperson, Sidi

BUSINESS

Union Bank and BFREE Forge Strategic Partnership to Revitalize Loan Portfolios

Daily Dispatch November 28, 2023

Union Bank of Nigeria and BFREE, a cutting-edge German-Nigerian FinTech firm, have signed a Memorandum of Understanding (MOU). This agreement signifies a joint commitment to addressing economic challenges and revitalising distressed loan portfolios in Nigeria. This MOU was formalised during the German-Nigerian Business Forum in Berlin on November 21, 2023.Under the terms

BUSINESS

Tinubu reappoints Kyari as GCEO of NNPCL

Daily Dispatch November 27, 2023

In compliance with Section 59 (2) of the Petroleum Industry Act, 2021, President Bola Tinubu has approved the appointment of a new Board and Management team for the Nigerian National Petroleum Company Limited (NNPCL) with effect from December 1, 2023: (1) Chief Pius Akinyelure — Non-Executive Board Chairman (2) Mallam Mele Kolo Kyari — Group […]

BUSINESS

Keyamo summons Heads of Aviation Agencies over safety concerns

Daily Dispatch November 27, 2023

The Minister of Aviation and Aerospace Development, Festus Keyamo, has summoned heads of aviation regulatory agencies over safety concerns in the sector. The minister said a thorough assessment of recent incidents will be carried out during the meeting. Recently, the Lagos-Abuja flight of United Nigeria Airlines was diverted to Asaba, Delta State capital, due to […]

BUSINESS

Plane diversion: NCAA suspends all foreign lease aircrafts of United Nigeria Airlines

Daily Dispatch November 27, 2023

The Nigeria Civil Aviation Authority, NCAA, has suspended all foreign lease aircraft under United Nigeria Airlines hours after the airline operator diverted its Lagos-Abuja en route flight to Asaba on Sunday. DAILY POST reports that passengers expressed worry when a United Airlines aeroplane landed in Asaba International Airport on Sunday rather than the Nnamdi Azikiwe

BUSINESS

Dangote refinery to start with 350,000bpd crude — CEO

Daily Dispatch November 26, 2023

At full tilt, the refinery, the world’s largest “single train” facility with just one distillation unit, could save Nigeria billions in foreign exchange currently spent on imported fuel. It was “shameful”, Dangote said, that Nigeria, a major oil producer for more than 50 years, could not refine its own crude in anything like sufficient quantity. […]