BUSINESS

NNPC Ltd says crude oil proceeds were repatriated into the Federation Accounts

Daily Dispatch January 6, 2023

The Nigerian National Petroleum Limited, NNPC Ltd, has said that the $1 trillion made through the sale of crudes from 2016 to 2020 were paid into the coffers of @nnpclimited and consequently into the Federation Accounts. The NNPC Ltd disclosed this in a statement posted on its official Twitter

BUSINESS

NMDPRA shut down fuel stations in Kano

Daily Dispatch January 5, 2023

Nigeria Mainstream and Downstream Petroleum Regulatory Authority (NMDPRA) on Thursday sealed petroleum stations in Kano. The former Department of Petroleum Resources (DPR) enforcement team of the Kano zonal office shut down the fuel stations for selling products above the regulated price. Captured at the affected stations during the enforcement exercise monitored by

BUSINESS

Breaking: Sale of Polaris Bank: CBN Sets Record Straight

Daily Dispatch January 4, 2023

The attention of the Central Bank of Nigeria (CBN) has been drawn to a spurious, malicious, and misleading online publication, which made several false claims concerning the recent sale of the Federal Government’s interest in Polaris Bank Ltd. Given the potentially grave implications for the stability of the bank, financial sector and the Nigerian economy, […]

BUSINESS

FG to announce guidelines for withdrawal from govt accounts Thursday

Daily Dispatch January 4, 2023

The Nigerian Financial Intelligence Unit is set to announce new guidelines on cash withdrawals from all government accounts on Thursday, January 5, 2023. This was contained in a document on Tuesday night. NFIU had been putting all necessary measures in place to stop cash withdrawals from federal, state, and local government areas’ bank accounts. The Director […]

BUSINESS

FG set to commence inspection of fuel stations’ tanks to curb scarcity

Daily Dispatch January 2, 2023

Oil marketers on Sunday said the Federal Government should evacuate and dispense the products currently trapped in the depots which were shut down recently by the Nigerian Midstream and Downstream Petroleum Regulatory Authority. Marketers said the products should be dispensed at the regulated rate of N148/litre to help address the scarcity of Premium Motor Spirit, […]

BUSINESS

IMF warns recession will hit one-third of World’s Economy this year

Daily Dispatch January 2, 2023

Head of the International Monetary Fund (IMF), Kristalina Georgieva, has said the world’s economy is in for a tougher year as it projects one-third of the globe sliding into recession. The year 2022 had seen various countries suffering the ripple effects of the ongoing Russia- Ukraine conflict, the resurgence of the COVID-19 virus in China […]