BUSINESS

Nigeria to export 16.2 million tonnes of LNG

Daily Dispatch February 14, 2023

Liquefied natural gas exports from Nigeria are expected to reach 16.2 million tonnes in 2023, according to a report by Independent Commodity Intelligence Services. Nigerian LNG exports decreased in 2022, down 15% from 2021, according to ICIS. “We forecast Nigerian exports will rise slightly to

BUSINESS

CBN threatens to arrest, jail PoS agents charging above N200

Daily Dispatch February 14, 2023

The Governor of the Central Bank of Nigeria, Godwin Emefiele, has threatened to arrest and jail POS agents charging above N200 cash withdrawals. Emefiele said this during a visit, on Tuesday, to the Ministry of Foreign Affairs, to discuss the monetary and currency redesign policy of the bank. The CBN governor said that there was […]

BUSINESS

Stop selling Naira or risk imprisonment, CBN warns

Daily Dispatch February 14, 2023

Amid the chaos sorrounding the currency swap, the Central Bank of Nigeria, CBN, has vow to arrest and prosecute any Point of Sale, POS, operator or payment agents found to be selling Naira notes in the guise of transaction charges, warning that it is an economic crime and an imprsonable offence. According to the nation’s […]

BUSINESS

Nigeria may lose $18m in GDP monthly – Rewane

Daily Dispatch February 14, 2023

The chief executive officer of Financial Derivatives Company, Bismarck Rewane, has said that Nigeria may suffer a Gross Domestic Product loss of $18 million monthly owing to the negative effects of the naira redesign policy of the Central Bank of Nigeria. Rewane spoke during a recent presentation at the Lagos Business School, according to a […]

BUSINESS

Banks reject old notes, says acting on CBN directive

Daily Dispatch February 13, 2023

Commercial banks in Akure, the Ondo State capital, have begun rejection of the old notes of N200, N500 and N1000 notes. Many customers who went to the banks to deposit were disappointed when the bank officials refused to collect the old notes. At the Jais bank, an official advised customers to take the old notes to the […]

BUSINESS

New naira: Use alternative payment methods, CBN tells Nigerians

Daily Dispatch February 13, 2023

The Central Bank of Nigeria has implored Nigerians to make use of the eNaira and Internet banking as alternatives to the current naira scarcity. The Director, Corporate Communications Department of the CBN, Mr. Osita Nwanusobi, who was represented by the Director, Capacity Development of CBN, Mohammed Abbah, disclosed this while speaking at the recently held […]