BUSINESS

NNPC confirms zero FAAC remittance projection for May, disagrees corporation is broke

Daily Dispatch April 30, 2021

Nigerian National Petroleum Corporation (NNPC) said the zero revenue remittance projection in its letter to the Accountant General of the Federation(AGF) pertains only to the revenue stream it manages for the country. It said the letter was not a reflection of the overall financial performance

BUSINESS

Nigeria records 1.6m grams of gold production In 5 years- Minister

Daily Dispatch April 30, 2021

Dr Uchechukwu Ogah, Minister of State, Ministry of Mines and Steel Development (MMSD) says the ministry recorded 1,562,720 grams of Gold production from 2016 to 2020. Ogah disclosed this during the 2021 Annual Public Lecture organised by the Nigerian Society of Engineers (NSE), Bwari branch, in collaboration with MMSD in Abuja. The theme of the event […]

BUSINESS

CBN issues security alert to all staff

Daily Dispatch April 29, 2021

The Central Bank of Nigeria (CBN) has issued high-level security alert to its staff at the Abuja headquarters and other branches nationwide. The circular issued by CBN’s Director of Security Services which states among other things that due to the worsening security situation in the country, staff are advised to be extra conscious and alert […]

BUSINESS

Nasarawa govt, rice farmers attract N10bn investment from CBN

Daily Dispatch April 29, 2021

The Nasarawa State government is collaborating with the Rice Farmers Association, with plans already concluded to attract investment to the tune of N10bn, to assist rice farmers in the state, under the Central Bank of Nigeria (CBN) anchor borrowers scheme. Nasarawa State governor, Engineer Abdullahi Sule, disclosed this while flagging-off the sales of fartilizer and […]

BUSINESS

MTN Nigeria introduces Remita to enhance post-paid transactions

Daily Dispatch April 29, 2021

In order to enable ease of payments and achieve instant value in a flexible manner for its post-paid customers, MTN Nigeria has introduced Remita, a leading electronic payment platform, for the management of all its post-paid invoicing, payment as well as service-and-expense reconciliation needs. With this development, enterprises and individuals on MTN’s post-paid billing

BUSINESS

AfDB bars Nigerian company 3 years for fraudulent practices

Daily Dispatch April 28, 2021

African Development Bank Group (AfDB) has barred Maxicare Company (Nigeria) Ltd. from conducting business with it for the next three years. The bank said on its website on Wednesday that the debarment, for engaging in “collusive and fraudulent practices” during a business tender, took effect from Feb. 23. It stated that the infringement was committed […]