BUSINESS

Nigeria’s 96% revenue used to service debt in 2022 – World Bank

Daily Dispatch April 17, 2023

The World Bank says Nigeria’s constant fiscal deficit has worsened the nation’s public debt stock, with 96.3 per cent of government revenue spent on servicing debt in 2022. This was according to the Macro Poverty Outlook for Nigeria: April 2023 brief released by the bank. The report read in

BUSINESS

Passengers stranded as Aviation Unions begin Strike

Daily Dispatch April 17, 2023

Activities in the aviation sector of Nigeria have been disrupted with many passengers stranded as Aviation Unions today commence their two-day warning strike. Members of the unions have blocked the entrance to the Murtala Muhammad Airport domestic terminal, leaving many passengers stranded. This falls on the heels of a meeting called by the Nigeria Civil Aviation […]

BUSINESS

Transcorp Hotel Abuja wins sales team of the Year Global Award

Daily Dispatch April 17, 2023

Transcorp Hilton Abuja has won the Sales Team of the Year Global Award at the 2022 Commercial Services Summit Awards. A statement by the hotel on Monday read that: “Transcorp Hilton Abuja, the pride of Nigerian hospitality, challenged over 37 Hilton properties worldwide to win the Sales Team of the Year Global Award at the […]

BUSINESS

UBA Group posts 47.5% growth in gross earnings, profit hits N61.4b

Daily Dispatch April 16, 2023

Africa’s Global Bank, United Bank for Africa Plc, has released its unaudited results for the first quarter ended March 31, 2023, recording remarkable growth across all its major income lines. The result, released to the Nigerian Exchange Limited on April 13, showed that gross earnings rose by 47.5 per cent. It went from N183.9 billion […]

BUSINESS

CBN moves to grab unclaimed funds in banks, dormant account balances

Daily Dispatch April 13, 2023

Nigeria’s Central Bank says it will mop up all dormant account balances and unclaimed balances in banks into a designated account it has created. CBN announced this in its new Guidelines on the Management of Dormant Accounts drafted in April 2023, which was obtained by The Whistler. According to the apex bank, the balances will […]

BUSINESS

OECD, Nigeria meet on maximising benefits of two-pillar tax solution

Daily Dispatch April 13, 2023

Nigeria to continue to participate in rules development in the interest of the country and Africa … A delegation from the Organisation for Economic Co-operation and Development (OECD) met with Nigerian representatives on 4th and 5th April 2023, at a workshop it jointly organised with the Federal Inland Revenue Service (FIRS), to discuss the maximisation of the benefits