BUSINESS

N70b wiped out of Nigerian Stock Exchange

Daily Dispatch July 28, 2020

The Nigerian Stock Exchange returned to negative territory on Tuesday with the market capitalisation shedding N70 billion due to losses by some blue chips. The market capitalisation was down 0.54 per cent to close at N12.858 trillion compared with N12. 928 trillion on Monday. Also, the

BUSINESS

Nigeria signs $1.5b pre-payment deal with oil traders Vitol, Matrix Energy

Daily Dispatch July 28, 2020

The NNPC has signed a $1.5 billion prepayment deal led by Standard Chartered and backed by oil traders Vitol Group and Matrix Energy. It was the first such agreement since the COVID-19 pandemic, Reuters reported quoting two sources close to the deal. The deal provides Nigeria with much-needed cash after its finances were hit by […]

BUSINESS

Nigerian banks squeezed as central bank shores up naira

Daily Dispatch July 28, 2020

By REUTERS Fitch predicts 20% hit to Nigerian bank revenues this year * Central bank measures exacerbate lending, FX shortage woes * Economy faces COVID-19, oil price shock double whammy Nigeria’s banks are expected to take a big hit to revenues and face rising borrowing costs this year as central bank measures to support the […]

BUSINESS

Block Makers Emerge First Winners of Dangote Cement Season 2 Consumer Promo

Daily Dispatch July 27, 2020

…….. Group Lauds Dangote for Organising Promo Barely a week after its launch, two Block makers from Lagos and Oyo States have become first star prize winners of N1 million each in the ongoing Dangote Cement Bag of Goodies Season 2 Consumer Promo that was recently launched. The promo, which the management said was partly […]

BUSINESS TOP STORIES

Taxation, New Normal To Boost Revenue Generation – FIRS Webinar

Daily Dispatch July 25, 2020

Nigerians should accept the fact that the country can no longer rely solely on revenue accruing from its natural resources to fund the budget, hence the need to embrace taxation as the new normal of national fiscal policy. Panelists and discussants on a webinar organized by a firm, OTISVIP, and which had in conversation, the […]

BUSINESS

OGHA Mandates Ministry On Investment Opportunities

Daily Dispatch July 24, 2020

ABIODUN JIMOH, ABEOKUTA The Ogun State Ministry of Industry, Trade and Investment have been given mandate to set up machineries towards strengthening the potentials of state With this commission, the state is expected to retain its leading position in the comity of states in the nation by leveraging on the state’s rich potentials to attract […]