BUSINESS

Nigeria needs to increase local refining capacity, says IPMAN

Daily Dispatch May 7, 2020

The Independent Petroleum Marketers Association of Nigeria (IPMAN) says Nigeria needs to increase its local refining capacity to mitigate the impact of the crash in global crude oil price on the nation’s economy. IPMAN’s President, Mr Chinedu Okoronkwo, told the News Agency of Nigeria (NAN) on

BUSINESS

CBN suspends banks from sacking staff

Daily Dispatch May 3, 2020

The Central Bank of Nigeria (CBN) have suspended the ongoing staff layoffs by some banks in the country. The apex bank corporate communications director Isaac Okorafor made the disclosure in a statement on Sunday. “In order to help minimize and mitigate the negative impact of the COVID-19 pandemic on families and livelihoods, no bank in […]

BUSINESS

CBN, banks take decision amid fears of mass sack

Daily Dispatch May 3, 2020

The Central Bank of Nigeria (CBN) has announced the decision reached with banks in the country concerning lay-offs. As Nigeria battles coronavirus, there are fears in some quarters that the jobs of many citizens, including bankers, were at risk. Isaac Okorafor, CBN Director, Corporate Communications, in a statement Sunday evening, said a meeting of the

BUSINESS

WEMA Bank swims in IGR controversy as forensic auditor petitions EFCC

Daily Dispatch April 29, 2020

By NGIJ team of Oluwasegun Abifarin and Olawale Abideen Widely reputed as the longest surviving and most resilient indigenous bank in Nigeria, Wema Bank Plc, according to its corporate philosophy, “has over the years, diligently offered a fully-fledged range of value-adding banking and financial advisory services to the Nigerian public.” But recent development is

BUSINESS

Coronavirus: Private sector donations now N27.160bn – CBN

Daily Dispatch April 28, 2020

The Nigeria Private Sector Coalition Against COVID-19 (CACOVID), has so far realised about N27.160 billion to help fight the coronavirus pandemic. The update of the contribution as at April 23, was made known in a document released by Mr Isaac Okorafor, the Director, Communications, Central Bank of Nigeria (CBN) on behalf of the coalition in Abuja on […]

BUSINESS

Nigeria records highest inflation rate in almost two years

Daily Dispatch April 21, 2020

Nigeria’s headline inflation rate for March 2020 rose marginally by 0.06 percent points higher than the 12.20 percent rate recorded in February. The National Bureau of Statistics (NBS) disclosed this in its report released on Tuesday. According to the report released after a few days delay, the figures rose marginally by 0.06 per cent points […]