BUSINESS

Abuja, Lagos, P/Harcourt, Owerri and Kano airports to resume June 21- FG

Daily Dispatch June 3, 2020

The Federal Government has announced that only five airports will be reopened when flight operations resume on Saturday, June 21.  According to a circular by the Nigerian Civil Aviation Authority (NCAA), asides the five selected airports, all others are to remain closed for further assessment.

BUSINESS

CBN Cuts MPR To 12.5 Percent, Retains Other Rates

Daily Dispatch May 28, 2020

The Central Bank of Nigeria on Thursday reduced its monetary policy rate to 12.5 percent as part of efforts to combat the economic effects of the coronavirus pandemic. The previous rate was 13.50 percent. However, the bank retained its Cash Reserve Ratio (CRR) at 27.5 percent and Liquidity Ratio (LR) at 30 percent. MPR is […]

BUSINESS

CBN to empower 11,250 wet season farmers in Adamawa

Daily Dispatch May 28, 2020

The Central Bank of Nigeria under its Anchor Borrowers Programme, says it is set to empower no fewer than 11,250 farmers for the 2020 wet season farming in Adamawa. Alhaji Ilyasu Mu’azu, the Chairman, Adamawa branch of Maize Association of Nigeria (MAAN), disclosed this during the flag off of the 2020 wet season Anchor Borrowers […]

BUSINESS

COVID-19: CBN issues directive to banks, reduces interest rates

Daily Dispatch May 27, 2020

The Central Bank of Nigeria (CBN) has reduced interest rates on its facilities through participating Other Financial Institutions (OFIs). The rate has been slashed from 9 to 5 percent per for one year, effective March 1, 2020. This was contained in a circular to banks on Wednesday by the Director of Financial Policy and Regulation […]

BUSINESS

FG to auction 56 marginal fields before end of year- Sylva

Daily Dispatch May 22, 2020

The Minister of State for Petroleum Resources, Mr Timipre Sylva, has revealed that 56 marginal fields will be available for auction before the end of the year. It had been reported earlier that due to current global realities which impede foreign investments, Nigeria would be auctioning marginal fields. In the latest rounds of details released, […]

BUSINESS

JAIZ Bank Offers Forex Lifeline To SMEs

Daily Dispatch May 22, 2020

Determined to open up businesses and boost the nation’s economy amid the current Coronavirus (COVID-19) pandemic crisis, Nigeria’s foremost non-interest bank, Jaiz Bank Plc, has resumed selling of foreign exchange to operators of Small and Middle Enterprises (SMEs). Also, the Bank says the foreign exchange transactions is available to parents seeking to pay their children