BUSINESS

FG recovered N2.6trn revenue from oil coys –NEITI

Daily Dispatch September 14, 2022

The federal government has recovered a total of N2.6 trillion revenue from oil firms following the Nigeria Extractive Industries Transparency Initiative, NEITI, National Assembly intervention. NEITI said a total of 2.6 billion dollars remained outstanding in the hands of companies as at March

BUSINESS

Bank of England warns of recession as pound falls to the lowest level against dollar

Daily Dispatch September 9, 2022

The British pound has fallen to its lowest level against the U.S. dollar since 1985. The currency fell to $1.1407 on Wednesday afternoon — a level not seen since the premiership of Margaret Thatcher. The United Kingdom (UK) is said to be battling double-digit inflation, an energy crisis, and a possible recession. The pound’s slide […]

BUSINESS

CBN Governor, Emefiele, Afreximbank President, Oramah, Others Under EFCC, NFIU Investigations Over $300million Paid To Acquire Union Bank

Daily Dispatch September 9, 2022

The Central Bank of Nigeria Governor, Godwin Emefiele; the President of African Export-Import Bank (Afreximbank), Prof. Benedict Oramah, among others, are under investigation over the $300million the pan-African multilateral financial institution gave to Titan Trust Bank Limited to acquire 93.4 per cent stake in the Union Bank of Nigeria Plc. Others being investigated are

BUSINESS

Why Nigeria should end fuel subsidy – Akabueze

Daily Dispatch September 8, 2022

The Director General of the Budget Office of Nigeria, Ben Akabueze, says the trillions of naira spent on fuel subsidy can be deployed to other creative sectors, particularly education. Speaking on Arise TV’s Global Business Report, Akabueze said the funds could be used to end the Academic Staff Union of Universities strike and increase the […]

BUSINESS

FG threatens to sanction foreign airlines over refusal to sell tickets in naira

Daily Dispatch September 8, 2022

The Federal Government has threatened to sanction foreign airlines operating in the country over their refusal to accept naira payment for flight tickets. The Minister of Aviation, Hadi Sirika, disclosed this at a briefing on Wednesday after the Federal Executive Council meeting chaired by President Muhammadu Buhari. The Federal Government had a few days ago […]

BUSINESS NEWS

IPMAN suspends proposed strike action as NMDPRA intervenes

Daily Dispatch September 7, 2022

The northern Independent Petroleum Marketers Forum suspended its planned strike after reaching an agreement with the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) in Abuja last night. A statement by the General Manager, Corporate Communication department of the Authority, Kimchi Apollos, said the NMDPRA moved in swiftly to apprehend the planned