BUSINESS

NNPCL reacts to the removal of fuel subsidy by President Tinubu

Daily Dispatch May 30, 2023

The Nigerian National Petroleum Company Limited, NNPC Ltd, has said that the decision to remove subsidy on Premium Motor Spirit, PMS, known as fuel by President Bola Tinubu is a welcome development. Malam Mele Kyari, Group Chief Executive Officer, GCEO, NNPC Ltd. made the remark at the NNPC

BUSINESS

Two days after commissioning, Nigeria Air Aircraft secretly returned to Ethiopia

Daily Dispatch May 28, 2023

Latest information on flight live tracker ‘flightrader24.com’ currently shows the Nigeria Air aircraft is back to Ethiopia where it was brought in from. As of Saturday evening, the flight tracker showed the aircraft was enroute Addis Ababa, approaching from Central African republic. Later on Saturday evening, the flight tracker read, “The flight with callsign ETH8950 […]

BUSINESS

Nigeria Air Plane lands in Abuja (Video)

Daily Dispatch May 26, 2023

The controversial bid by outgoing minister of aviation, Senator Hadi Sirika to launch a new national carrier saw a little light on Friday as one of the planes to be used for the project landed in Abuja on Friday afternoon. The partnership involving Ethiopian Airlines has been seriously opposed by industry stakeholders and is the […]

BUSINESS

UBA contributes 50 per cent to Group’s earnings – Africa CEO

Daily Dispatch May 26, 2023

Africa’s Global bank, United Bank for Africa (UBA) Plc, has announced that all its African subsidiaries are now on firm footing as they have been contributing maximally to the group’s profit margin. Specifically, the bank’s African operations have contributed close to 50 per cent of the group’s earnings, leveraging on digital offerings and products across […]

BUSINESS

CBN raises baseline lending rate to 18.5%

Daily Dispatch May 24, 2023

The Monetary Policy Committee, MPC, of the Central Bank of Nigeria, CBN, has increased the Monetary Policy Rate, MPR, to 18.5 per cent from 18 per cent. The CBN Governor, Mr Godwin Emefiele, made this known on Wednesday in Abuja, after presenting the communique from the 291st meeting of the MPC. The MPR is the […]

BUSINESS

CBN revokes licences of 132 MfBs, others

Daily Dispatch May 24, 2023

The Central Bank of Nigeria, CBN, has announced revocation of the licences of 132 microfinance banks, three finance companies and four primary mortgage banks across the country. The revocation is contained in a gazetted circular signed by the CBN governor, Mr Godwin Emefiele, in Abuja. According to Emefiele, the microfinance banks, finance companies and primary […]