BUSINESS

Polaris Bank appoints Ahmad Chairman, Adekunle Sonola MD

Daily Dispatch October 22, 2022

Polaris Bank has appointed a new independent Board of Directors to lead the bank’s growth strategy. Alhaji Muhammad Ahmad, Chairman Polaris Board, said in a statement in Lagos. The statement said that the board would have six non-executive directors and three executive directors. The new board

BUSINESS

Nigeria Air to begin operations with 9 Petrol-aircraft in December

Daily Dispatch October 22, 2022

The Federal Government has ordered 20 new petrol aircraft for the national carrier fleet, Nigeria Air, out of which only nine have been delivered in preparation for the start of the airline in December. Aviation Minister, Hadi Sirika, disclosed this at a meeting with the Speaker of the House of Representatives, Femi Gbajabiamila, on Friday, […]

BUSINESS

CBN marks first anniversary of eNaira

Daily Dispatch October 21, 2022

The Central Bank of Nigeria, CBN, has unveiled activities to mark the first anniversary of its digital currency, the eNaira. The eNaira, which is Africa’s first Central Bank Digital Currency, CBDC, was formally inaugurated by President Muhammadu Buhari on October 25, 2021. In a statement on Friday, Mr Osita Nwanisobi, CBN’s Director, Corporate Communications, said […]

BUSINESS

CBN, AMCON confirm sale of Polaris Bank

Daily Dispatch October 20, 2022

The Central Bank of Nigeria (CBN) and the Asset Management Company of Nigeria (AMCON) have formally announced the sale of Polaris bank. According to reports, the sale follows the completion of a Share Purchase Agreement (SPA) for the acquisition of 100 per cent of the equity in Polaris Bank by Strategic Capital Investment Limited (‘SCIL’).NewsClick […]

BUSINESS

Sales of Polaris Bank must follow due process…..Reps insist

Daily Dispatch October 20, 2022

The House of Representatives has insisted that the ongoing sale of Polaris Bank must followed due process and got Presidential approval. Chairman, Ad-hoc Committee investigating the sale of Polaris Bank, Hon. Henry Nwawuba who stated this a press briefing in Abuja, allayed investors’ fears on the status of the financial institution. Hon. Nwawuba disclosed that […]

BUSINESS

N70.95b spent on moribund Port Harcourt refinery in two years – NNPCL

Daily Dispatch October 20, 2022

The moribund Port Harcourt Refinery Company (PHRC) gulped N70.95 billion in two years, the Nigerian National Petroleum Company Limited (NNPCL) has said in its Audit Report. In the PHRC Audited Financial Statements for 2021 obtained by The Nation, the company spent N39, 491,468, 000 last year. The NNPCL noted that the depreciation and impairment of financial […]