BUSINESS

FOREX: CBN allays fears of Nigerians

Daily Dispatch July 29, 2022

In the face of rising demand for foreign exchange for both goods and services by Nigerians, the Central Bank of Nigeria (CBN) has advised Nigerians to resist the urge of succumbing to the speculative activities of some players in the foreign exchange market. Speaking with newsmen in Abuja on

BUSINESS

Fuel subsidy: Oando, AA Rano, Sahara Energy, others deny receiving payments

Daily Dispatch July 28, 2022

OANDO Plc, AA Rano, Sahara Energy Resources, Hyde have all denied involvement in fuel subsidy payments before the House of Representatives ad hoc committee investigating subsidy regime. The oil companies said they only lifted crude oil and we’re not part of subsidy payment by the Nigerian National Petroleum Company (NNPC) Ltd The representatives of the […]

BUSINESS

Senate summons CBN boss Emefiele over naira depreciation

Daily Dispatch July 27, 2022

The Senate has summoned Godwin Emefiele, the Governor of the Central Bank of Nigeria, over the depreciation of the naira. Reports revealed the United States dollar exchanged for N658 in the parallel market on Wednesday. The depreciation of the naira fuelled the lawmakers’ decision to invite Emefiele following a motion by Olubunmi Adetunmbi, Senator representing […]

BUSINESS

NNPC reacts to reports of mass sacking in newly transited company

Daily Dispatch July 26, 2022

The Nigeria National Petroleum Company (NNPC) Limited has insisted that the company will not take law into its hand by sacking staff. There were indications that thousands of staff at the newly transited company were being sacked, especially those who are redundant. NNPC spokesperson, Garba Deen Muhammad, explained that provisions of the Petroleum Industry Act […]

BUSINESS

House of Reps pass for second reading Bill to amend CBN Act

Daily Dispatch July 26, 2022

The House of Representatives on Tuesday at plenary passed for second reading A bill for an Act to Amend section 11 of the Central Bank of Nigeria, 2007 to add more conditions to disqualification, cessation of appointment as Governor,  Deputy Governor or director of the Bank and for Related Matters. Sponsored by Hon.  Sada Soli […]

BUSINESS

Dangote Petrochemical Plant will position Nigeria as polypropylene hub in Africa – Aliko Dangote

Daily Dispatch July 25, 2022

President of the Dangote Group, Aliko Dangote, has said that the Dangote’s $2 billion Petrochemical Plant when fully operational will position Nigeria to be one of Africa’s largest petrochemicals hubs and also boost the non-oil export earnings of the country. Dangote who disclosed this at the 2022 Zenith Bank International Trade Seminar on Non-oil Export […]