BUSINESS

FG raises equity in BoI by N105billion

Daily Dispatch August 11, 2020

Federal Government on Tuesday disclosed that it has raised its equity in Bank of Industry (BoI) by N105 billion. The Bank’s Executive Director, Mr. Umar Shekarau disclosed this during an investigative hearing into the N105 billion loan allegedly converted to Federal Government’s shares as

BUSINESS

Over 5000 traders evicted from shops in Port Harcourt

Daily Dispatch August 11, 2020

Over 5000 spare parts traders stand being evicted from the popular Ikoku Spare Part Market at Mile 3, Port Harcourt, the Rivers State capital. This follows an impromptu eviction notice of three weeks issued by the owners who offered no reason for the sudden decision. Though reports say the traders have been transferred to a […]

BUSINESS

Two Ogun Councils Generate N2.218b From Statutory Allocation, IGR

Daily Dispatch August 10, 2020

By ABIODUN JIMOH, ABEOKUTA A total sum of two billion, two hundred and eighteen million naira (N2.218b) have been generated by two local government councils in Ogun State from statutory allocation and internal generatedrevenues during the first half of the year 2020. They are Yewa North local government council, and Imeko/Afon local government council respectively, […]

BUSINESS

PTF on COVID-19 asks FAAN, airline operating to begin process of restarting Int’l flights

Daily Dispatch August 6, 2020

The Presidential Task Force on COVID-19 has asked the aviation authorities and airline operators to begin the process for the restart of international flights. With the reopening of domestic airports for local flights in July after about four months of closure due to the coronavirus pandemic, travellers had been in high hopes for the resumption […]

BUSINESS

NNPC Signs $1.5bn Export Finance Facility

Daily Dispatch August 6, 2020

Nigerian National Petroleum Corporation (NNPC) and its upstream Nigerian Petroleum Development Co. (NPDC) unit have sealed a $1.5 billion export finance facility deal with United Bank for Africa (UBA) and other financial institutions. UBA will provide $200 million of the amount, in naira. The total $1.5bn will be provided in two tranches. The first $1bn […]

BUSINESS

NNPC records 43% drop in oil pipeline vandalism in May — Report

Daily Dispatch August 5, 2020

The Nigerian National Petroleum Corporation (NNPC), says it  recorded 43 per cent drop in cases of damage to its oil pipeline infrastructure by suspected oil thieves in May, 2020. The corporation disclosed this in its Monthly Financial and Operation Report (MFOR), released in Abuja, on Wednesday. The report indicated that 37 pipeline points were vandalised, […]