BUSINESS

Domestic airfares soar by 97% – NBS

Daily Dispatch December 27, 2022

The average cost of airplane tickets in Nigeria rose from N37,022.97 in November 2021 to N73,267.57 in November 2022, latest data from the National Bureau of Statistics showed on Monday. This represents an increase of 97.09 per cent, according to the NBS’ Transport Fare Watch report for

BUSINESS

Shell to pay €15m to farmers in Nigeria’s oil producing Ogoni communities

Daily Dispatch December 23, 2022

Multinational oil company, Shell said on Friday that it has agreed to pay 15 million Euros to farmers in Ogoni communities of Nigeria’s oil rich Niger Delta as compensation over the damages in a case instituted over 13 years ago. The compensation was in line with the ruling of Dutch Appeal court of Friday 29 […]

BUSINESS

Support implementation of transformational payments, financial industry initiatives, CBN urges NASS

Daily Dispatch December 23, 2022

The Central Bank of Nigeria (CBN) has urged the National Assembly to support its implementation of transformational payments and financial industry initiatives in line with the mandate of the apex bank. The CBN Governor, Mr Godwin Emefiele, made the call in his briefing to the House of Representatives plenary on the apex bank’s Naira redesign […]

BUSINESS NEWS

CBN Orders 500 million Pieces of currency for redesigned Naira notes….. Emefiele

Daily Dispatch December 22, 2022

. …Sheds More Linght On New new cashless Policy ……Says not based on political consideration The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, on Thursday 7_ that the Apex bank has ordered for 500 million pieces of currency for the printing of the redesigned Naira notes. The CBN boss disclosed this when […]

BUSINESS

CBN cash limit policy: Individuals can now withdraw up to N500, 000 weekly

Daily Dispatch December 21, 2022

The Central Bank of Nigeria (CBN) has set N500,000 as the maximum limit for weekly cash withdrawal over the counter by individuals. CBN also set N5,000,000 as the maximum withdrawal by organisations with effect from January 9, 2023. The apex bank made this known via a memo signed by the Director of Banking Supervision, CBN, […]

BUSINESS

CBN releases security features of new naira notes

Daily Dispatch December 20, 2022

The Central Bank of Nigeria (CBN) has released details and position of the security features in the newly redesigned naira notes following the circulation of fake copies of the denominations in the country. The Star had reported that fake copies of the newly redesigned N1,000 note were discovered, a few days after release by the […]