BUSINESS

Jaiz Bank gets $25m Sharia-compliant financing from Islamic Corp

Daily Dispatch September 5, 2021

Jaiz Bank Plc has gotten a $25 million shariah-compliant line of financing (LOF) from Islamic Corporation for the Development (IsDB) of the private sector to support small and medium scale enterprises in Nigeria, the group said in a statement on Sunday. According to the statement, Ayman Sejiny,

BUSINESS

OPEC+ raises forecast for oil demands next year

Daily Dispatch September 5, 2021

The Organisation of the Petroleum Exporting Countries and allies, including Russia, collectively known as OPEC+, has raised its forecast for oil demand next year, in a move that might help to build a case for raising output. Brent crude for November delivery gained 18 cents, or 0.3 per cent to touch 71.81 dollars a barrel, […]

BUSINESS

Naira now exchanges @ N530 per Dollar

Daily Dispatch September 3, 2021

The Nigerian currency, naira has hit an all-time low after exchanging for N530/$ at the parallel market on Thursday. Data posted on Aboki FX in Thursday evening showed that Naira is exchanging for N530/$ from the previous N528/$. There has been a steady pressure in the foreign exchange market in the last one week as […]

BUSINESS

Ogun hits 90 percent IGR as at June 2021

Daily Dispatch September 1, 2021

By: Adémólá Òrúnbon The Ogun State Government says it is already on a steady path to economic recovery as against the backdrop of global economic recession occasioned by Covid-19, saying it has already achieved ninety percent of its revenue target for the mid-year, as at June 30, 2021. This was revealed by the Commissioner for […]

BUSINESS

Forex Ban: CBN directs banks to publish names of defaulters

Daily Dispatch August 31, 2021

The Central Bank of Nigeria has directed all commercial banks to publish on their websites the names and Bank Verification Numbers of customers who engage in fraudulent and unscrupulous practices to obtain foreign exchange from banks. In a circular issued by the on Tuesday, the bank outlined the fraudulent practices to include the use of […]

BUSINESS

Kaduna IRS seals four banks’ branches over N300.5m tax defaults

Daily Dispatch August 30, 2021

Kaduna State Internal Revenue Service (KADIRS) sealed the head offices and other branches of four banks in Kaduna on Monday over N300.5 million unpaid taxes. KADIRS Executive Chairman, Dr Zaid Abubakar identified the affected banks as First Bank, Access Bank, Guaranty Trust Bank and Sterling Bank. Abubakar told journalists after the exercise in Kaduna that […]