BUSINESS

NNPC to hand over refineries to private firm

Daily Dispatch April 8, 2020

The Nigerian National Petroleum Corporation (NNPC) has said the country’s four refineries will be handed over to private firm to manage on operations and maintenance basis. Group Managing Director of NNPC, Mele Kyari, who said this in an interview said the refineries are being rehabilitated and

BUSINESS

Cyber fraudsters using coronavirus to steal sensitive information, CBN says

Daily Dispatch April 7, 2020

Nigeria’s cental bank has raised alarm over activities of fraudsters trying to defraud citizens during the coronavirus lock-down. The CBN noted that some of the cyber-criminal activities using the COVID-19 pandemic include phishing campaigns, relief packages, and impersonation. “The Central Bank of Nigeria (CBN) wishes to alert the general public that cyber-criminals are

BUSINESS

N8.5 trillion tax target: FIRS records 10.4% increase in Q1 collection

Daily Dispatch April 4, 2020

In spite of turbulence in the global economic system, especially the sharp fall in the price of Nigeria’s major export and top earner – crude oil – the Federal Inland Revenue Service (FIRS), has recorded an 10.4% increase in its collection target for the first quarter of 2020 (Q1 2020) compared to the same period […]

BUSINESS

COVID-19: World’s economy in recession, worse than in 2009 – IMF Chief

Daily Dispatch March 27, 2020

The world’s economy has entered a recession and requires massive funding to help developing nations, Ms Kristalina Georgieva has declared. Georgieva, the Managing Director of the International Monetary Fund (IMF), explained that this was as a result of the coronavirus (COVID-19) pandemic that has killed thousands of people around the world. She stated this on […]

BUSINESS

FIRS still open to tax collection despite partial shut down in Nigeria

Daily Dispatch March 25, 2020

Nigeria’s Federal Internal Revenue Service said it is still open to tax collection despite the partial shutdown of many businesses and companies in the country. “All FIRS offices nationwide are open to the taxpayers,” FIRS said in an internal circular seen by The Guardian. FIRS, however, said its member of staff will be alternated to […]

BUSINESS

COVID-19: Nigeria, others to lose $65bn revenue oil money

Daily Dispatch March 24, 2020

Nigeria and other oil-producing countries in Africa will lose up to $65 billion in revenues because of the impact of Coronavirus on crude oil sales. The Economic Commission for Africa (ECA) released this figure on the ravaging Coronavirus pandemic in Africa. For Nigeria in particular, the ECA said COVID-19, could reduce Nigeria’s total exports of […]