BUSINESS

Exchange of new naira notes: No going back on January 31 deadline – CBN

Daily Dispatch January 9, 2023

The Central Bank of Nigeria (CBN) has reiterated that the deadline for exchange of the old Naira notes for new ones remains January 31, 2023, the bank said last weekend. The assertion by the bank came as the new cash withdrawal policy introduced by the bank which restricts amounts anyone can

BUSINESS

New naira notes meet international standards – NSPM

Daily Dispatch January 6, 2023

The Nigerian Security Printing and Minting (NSPM) has assured the public that the new naira notes recently redesigned met international standards. In a statemen, on Friday, NSPM said the redesigning of the new naira notes was done with the best international practices. Managing Director/Chief Executive of NSPM, Ahmed Halilu, said the new naira notes were […]

BUSINESS

CBN begins countdown to the expiration of old N1,000, N500, N200 notes

Daily Dispatch January 6, 2023

Amid complaints that the new naira notes are not fully in circulation, the Central Bank of Nigeria (CBN) has launched a countdown to the January 31 deadline when the old N1,000, N500, and N200 notes will cease to be legal tender. Unveiling the countdown on its Twitter page on Friday, the apex bank said the […]

BUSINESS

Electricity workers fault N3tn bailout to power companies

Daily Dispatch January 6, 2023

The Organised Labour has faulted the over N3tn bailout granted to generation and distribution companies in the power sector by Federal Government after they have been privatised. The National Union of Electricity Employees especially criticised the government for injecting funds into companies owned by individuals without a commensurate increase in electricity generation

BUSINESS

25 firms invited for Polaris Bank sale – CBN

Daily Dispatch January 6, 2023

The Central Bank of Nigeria has said 25 firms were invited to participate in the sale process of Polaris Bank Limited via the execution of a non-disclosure agreement. The Director of Corporate Communications, CBN, Osita Nwanisobi, said this in a statement titled, ‘Sale of Polaris Bank: CBN sets record straight’. He said the attention of CBN […]

BUSINESS LEAD STORY 2

FG doesn’t know real owners of oil wells in Nigeria

Daily Dispatch January 6, 2023

……gives seven-day ultimatum to lease and licence holders to disclose owners The Nigerian Upstream Petroleum Regulatory Commission has issued a seven-day ultimatum for all lease and licence holders operating in Nigeria’s oil and gas sector, to disclose the real owners of their companies. In the directive signed by its Chief Executive, Gbenga Komolafe, on