BUSINESS

Dangote Cement Ibese pledges commitment to sustainable peace, growth of host communities

Daily Dispatch March 2, 2023

Leading Pan-African Cement manufacturer, Dangote Cement Plc has expressed commitment to maintaining its partnership with host communities and relevant stakeholders to create enabling environment for sustainable peace and mutual growth of communities within its areas of operations. Plant

BUSINESS

€23Bn Nigeria-Morocco Gas Project suffers setback on rivalry issue

Daily Dispatch March 2, 2023

Key gas project, the Nigeria-Morocco Gas Pipeline (NMGP), construction is currently facing delay following resumed rivalry between Morocco and Algeria. Both North African countries are engaged in two competing gas pipeline megaprojects linking them to Nigeria, targeting the European market, but in a context where the EU would like to do without gas by the […]

BUSINESS

Only 24% of CBN anchor borrowers’ loans repaid- IMF

Daily Dispatch March 1, 2023

The International Monetary Fund has disclosed that only 24 per cent of loans disbursed under the Anchor Borrowers’ Programme of the Central Bank of Nigeria have been repaid. This disclosure was contained in the IMF’s Selected Issues paper on Nigeria, which was prepared by a staff team of the fund as background documentation for the periodic […]

BUSINESS

Nigeria’s GDP improves by 3.52% in Q4 2022 -NBS

Daily Dispatch February 24, 2023

The National Bureau of Statistics, NBS, has said that Nigeria’s Gross Domestic Product, GDP, grew by 3.52 per cent in the fourth quarter of 2022 on a year-on-year basis. The NBS said this in the Nigerian Gross Domestic Product Report Q4 2022 released in Abuja on Friday. According to the report, this followed a growth […]

BUSINESS

Breaking: CBN reviews tenure of MDs, DMDs, EDs, non-Executive Directors of Banks, other Financial Institutions

Daily Dispatch February 24, 2023

The Central Bank of Nigeria (CBN) Friday announced measures that will affect the tenure of Executive Management and Non-Executive Directors of banks and financial institutions, saying the move would strengthen the governance practices in the banking industry. The new guidelines specifies the tenure of Managing Directors, Deputy Managing Directors as well as Executive

BUSINESS

Over N500bn Old Naira Notes Still Outstanding – Bawa

Daily Dispatch February 23, 2023

The Economic and Financial Crimes Commission, EFCC Chairman, Abdulrasheed Bawa, had said that over N500 billion old naira notes stashed in private vaults are yet to be returned to the Central Bank of Nigeria CBN. The EFCC chairman added that the commission had a lot of information on some of the means politicians were devising […]