BUSINESS

Governors raise concerns over NNPC ownership

Daily Dispatch August 20, 2022

State governors, on Thursday, raised concerns regarding the ownership of the new Nigerian National Petroleum Company Limited, its assets and liabilities. Consequently, the Chairman of the Council, Vice President Yemi Osinbajo, directed that a sub-committee be set up to liaise with the Federal

BUSINESS

Subsidy investigations: “Our statutory role is tax enforcement, collection, not use of funds” – FIRS

Daily Dispatch August 18, 2022

The Federal Inland Revenue Service (FIRS) has responded to queries by the Special Adhoc Committee on Petroleum Subsidy Regime tasked to investigate petroleum products subsidy in Nigeria, that its role is purely the collection of revenue for government and not keeping records of how the monies are expended. Speaking at the Committee sitting, the Executive […]

BUSINESS

$85m Trapped Revenue: Emirates suspends all flights to Nigeria September 1

Daily Dispatch August 18, 2022

Emirates Airlines has announced the suspension of its flight operations to Nigeria, starting September 1, 2022. The flag carrier of the United Arab Emirates (UAE) made this known in a statement on Thursday, citing the inability to repatriate its earnings in foreign exchange from Nigeria. Last month, Emirates asked Hadi Sirika, minister of aviation, to […]

BUSINESS

UBA becomes first African Bank in Dubai

Daily Dispatch August 17, 2022

Group Managing Director, Kennedy Uzoka has said that United Bank of Africa (UBA) remains the foremost Bank in Nigeria as it officially established a branch in Dubai directly from Nigeria. Uzoka stated this, recently during a press briefing at the launch of UBA in Dubai. His words, “Having been in operation for over 73 years […]

BUSINESS

UBA launches Innovative Experience Centre in Abuja

Daily Dispatch August 16, 2022

Africa’s Global Bank, the United Bank for Africa (UBA), has just launched a modern and future-forward Experience Centre in Abuja, Nigeria. The new UBA Experience Centre, which was commissioned on Sunday August 14, 2022, is situated at the Transcorp Hilton Hotel Abuja, and is a one-stop-shop which will provide guests and visitors with a first-class […]

BUSINESS

Nigeria’s inflation rate hits 19.64%, highest in 17 years

Daily Dispatch August 15, 2022

Nigeria’s Consumer Price Index (CPI), which measures the rate of change in prices of goods and services, surged to 19.64 percent in July 2022, up from 18.60 percent in the previous month. The latest development indicates a 1.82 percent month-on-month increase — and the highest ever inflation rate recorded since September 2005. Revealing this on […]