BUSINESS LEAD STORY 2

Cashless: Senate wants new policy reviewed

Daily Dispatch December 14, 2022

The Senate on Wednesday at plenary urged the Central Bank of Nigeria (CBN) to considerably adjust withdrawal limits in response to public outcry on its proposed weekly withdrawal on cashless policy. Senate’s resolution followed the adoption of recommendations of the Committee on Banking,

BUSINESS

Abuse the naira and go to jail, CBN warns

Daily Dispatch December 14, 2022

The CBN warned in Abuja on Tuesday that those abusing the naira were liable to go to jail. It warned that the law banning the “spraying’’ and the stepping on the naira, especially at social gatherings is still in force and offenders are liable to six months imprisonment or a fine of N50,000. The News […]

BUSINESS

Petrol: NNPC slashes price for marketers to ease scarcity

Daily Dispatch December 14, 2022

The Nigerian National Petroleum Company Limited, NNPCL, yesterday, adopted new measures aimed at guaranteeing adequate fuel supply across the country, by fixing N148 per litre as the price for lifting petrol at depots. It also agreed to supply outstanding stock to independent oil marketers, to end product shortage. This came as the independent marketers said […]

BUSINESS

Shell emerges best local content operator

Daily Dispatch December 14, 2022

Shell Companies in Nigeria have been named the best local content operators at the 2022 annual industry dinner and awards ceremonies of the Petroleum Technology Association of Nigeria (PETAN). The dinner and awards were held in Port Harcourt, Rivers. This was contained in a statement by Mrs Abimbola Essien-Nelson, Media Relations Manager of the oil […]

BUSINESS

Senate postpones debate on CBN withdrawal limits

Daily Dispatch December 13, 2022

The Senate has postponed its debate on the cash withdrawal policy by the Central Bank of Nigeria (CBN) till Wednesday, December 14, 2022. This is because of the absence of the Chairman of the Committee on Banking and Finance, Senator Uba Sani, who is away attending the All Progressives Congress (APC) presidential rally in Kaduna. A member […]

BUSINESS

Withdrawal limits: PoS operators, Falana drags Emefiele to Court

Daily Dispatch December 13, 2022

Point of Sale terminal operators and Lagos-based human rights lawyer, Femi Falana, have said they will sue the Central Bank of Nigeria if it fails to withdraw the new cash withdrawal policy limiting over-the-counter cash withdrawals by individuals and companies to N100,000 and N500,000, respectively, per week. The CBN had, in the memo introducing the […]