BUSINESS

FirstBank Announces Appointment of Oluwande Muoyo as Non-Executive Director

Daily Dispatch September 23, 2020

First Bank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services provider, today announced the appointment of Mrs. Oluwande Muoyo as a Non-Executive Director. Mrs. Muoyo joined the board of FirstBank from FBN Holdings Plc., the parent company of First Bank of Nigeria

BUSINESS

Oil down after U.S. crude inventories rise against expectations

Daily Dispatch September 23, 2020

Oil prices fell on Wednesday after an industry group reported a surprise rise in U.S. crude, adding to worries about demand that led to a steep selloff earlier in the week. Brent crude was trading down 30 cents or 0.7 per cent at $41.42 a barrel by 0347 GMT, after gaining 28 cents on Tuesday […]

BUSINESS

Polaris Bank celebrate one anniversary of UNEP-FI banking principles

Daily Dispatch September 23, 2020

Polaris Bank has recorded remarkable success in adopting the United Nations Environment Programme Financial Initiatives (UNEP-FI) Principles for Responsible Banking.The Principles for Responsible Banking, an initiative of UNEP, an Agency of United Nations (UN), provide a framework of six principles for integrating Sustainability into the heart of banking operations.By

BUSINESS TOP STORIES

Breaking: CBN reduces benchmark lending rate to 11.5%

Daily Dispatch September 22, 2020

The Central Bank of Nigeria on Tuesday reduced the Monetary Policy Rate from 12.5 per cent to 11.5 per cent after the two-day Monetary Policy Committee Meeting in Abuja. The committee also voted to retain the Cash Reserve Ratio and Liquidity Ratio at 27.5 per cent and 30 per cent respectively. The Central Bank Governor, […]

BUSINESS

Investors losing confidence in Nigeria’s oil, gas industry – NNPC

Daily Dispatch September 22, 2020

Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) Mele Kyari, says the absence of a stable fiscal environment is inhibiting the growth of the Nigerian petroleum industry. He stated that the worst hit is the upstream sector. Kyari spoke when he received the House of Representatives Committee on Petroleum Resources (Upstream). He said […]

BUSINESS

Obasanjo, Yar’Adua, Jonathan paid N8.9trillion as petrol subsidy

Daily Dispatch September 22, 2020

The Petroleum Products Pricing Regulatory Agency (PPPRA) said the Federal Government under former presidents Olusegun Obasanjo, Umaru Yar’Adua and Goodluck Jonathan spent N8.94 trillion or $23.05 billion on petrol subsidy. The amount, calculated at current exchange rate, was spent between 2006 and 2015. The agency disclosed this in a document on subsidy payment released in