BUSINESS

CBN disburses N114bn for 100-for-100 productivity policy

Daily Dispatch March 6, 2023

Since the start of the intervention, the Central Bank of Nigeria, CBN, has disbursed N114.17 billion to beneficiaries under its 100-for-100 Policy on Production and Productivity. The CBN Governor, Godwin Emefiele, revealed this in a communiqué issued following the most recent Monetary Policy

BUSINESS

Breaking: Banks start paying Nigerians old 500, 1000 naira notes

Daily Dispatch March 6, 2023

Some Deposit Money Banks (DMO) have started issuing out old N500 and N1000 naira notes to their customers in line with the Supreme Court ruling. I t will be recalled that a seven-member panel of the Supreme Court had last Friday held that the old N200, N500 and N1000 notes remain legal tender until December 31. The apex […]

BUSINESS

Supposed hackers steal N2.9 billion from Flutterwave

Daily Dispatch March 5, 2023

According to reports, $2,949,557,867 was fraudulently moved from the accounts of Flutterwave, an African fintech startup. According to Techcabal, the lawyer for the tech giant, Albert Onimole, reported the case to the Deputy Commissioner of Police, State Criminal Intelligence Department, Panti, Yaba. The breach on Flutterwave’s accounts, which occurred a few weeks ago,

BUSINESS

2022: Dangote Sugar declares N82.3bn profit

Daily Dispatch March 3, 2023

Dangote Sugar Refinery Plc has reported a Profit Before Tax, PBT, of N82.3 billion for the year ended Dec. 31, 2022. The company made this known in its annual report on Friday in Lagos signed by Mr Anthony Chiejina, Chief Corporate Communications Officer, Dangote Group. This, the company said, translates to an increase of 142 […]

BUSINESS

FG’s position on naira redesign, an affront on the constitution – Supreme Court

Daily Dispatch March 3, 2023

The Supreme Court has ruled that the old N200, M500 and N1000 notes are to remain in circulation till December 31, 2023. The apex court gave the judgement on Friday morning in a suit brought by 16 States Government against the Federal Government. It held that the position of the Federal Government on the redesigned […]

BUSINESS

EBID Launches ESG Financing Framework

Daily Dispatch March 2, 2023

The ECOWAS Bank for Investment and Development (EBID) has published its inaugural Environmental, Social, and Governance (ESG) Financing Framework, signalling its commitment to sustainable development and green financing of key projects in priority sectors. The Framework, which has received a positive assessment from ISS Corporate Solutions, will play a crucial role in