BUSINESS

Nigeria’s inflation rate hits 22.22%

Daily Dispatch May 16, 2023

The National Bureau of Statistics (NBS) says Nigeria’s headline inflation rate increased to 22.22 per cent on a year-on-year basis in April 2023. This is according to the NBS Consumer Price Index (CPI) and Inflation Report for April 2023 released in Abuja on Tuesday. According to the report,

BUSINESS

CBN unveils “SabiMONI” platform to promote financial literacy, inclusion

Daily Dispatch May 15, 2023

The Central Bank of Nigeria (CBN), on Monday unveiled an e-learning platform, SabiMONI, to promote financial literacy and to deepen financial inclusion. Speaking at the ceremony, the CBN Governor, Mr Godwin Emefiele, said that the platform was a fully digital national e-learning platform that provided a knowledge base for financial literacy. According to him, SabiMONI […]

BUSINESS

Fuel Subsidy: Suspend disbursement of $800m loan to FG SERAP tells World Bank

Daily Dispatch May 14, 2023

Socio-Economic Rights and Accountability Project (SERAP) has urged the World Bank President Mr David Malpass to use his “good offices to suspend any disbursement of the $800m loan to the Federal Government and to request the incoming administration to provide satisfactory explanations for the loan.” SERAP urges Mr Malpass and the World Bank “to reopen discussion […]

BUSINESS

ECOWAS agree On $187m Capital Base for Regional Central Bank

Daily Dispatch May 10, 2023

Member countries of the Economic Community of West African States (ECOWAS) have agreed to put forward $187 million as capital base for the proposed Central Bank of West Africa. This would make fund available for infrastructure development and solid liquidity of the region. The President of the ECOWAS Commission, Dr. Omar Alieu Touray disclosed this […]

BUSINESS

BVN issued in Nigeria has no expiry date – CBN

Daily Dispatch May 10, 2023

The Central Bank of Nigeria, CBN has allayed the fear of Nigerians over the expiring date of Bank Verification Number BVN. The bank in a statement issued by the Acting Director, Communications, Isa AbdulMumin PhD and made available to our correspondent, explained that BVN issued in Nigeria has no expiry date. According to Dr. AbdulMumin; […]

BUSINESS

Transcorp: Why my N250bn offer was rejected- Otedola

Daily Dispatch May 9, 2023

Billionaire businessman, Femi Otedola, has revealed that his offer to buy Nigerian conglomerate, Transcorp Corporation Plc, for N250bn was rejected. This came to light on Tuesday in a statement he issued to TheCable, weeks after the businessman acquired stakes in Transcorp and sold the shares. He revealed that he had bought the shares of the […]