BUSINESS

AfDB approves $5 million grant for Elumelu Foundation

Daily Dispatch December 17, 2019

The Board of Directors of the African Development Bank (AfDB) has approved a grant of $5 million to enable the Tony Elumelu Foundation Entrepreneurship Programme to scale up its outreach and impact to 1,000 select youth entrepreneurs. According to a press release by Amba Mpoke-Bigg of

BUSINESS

Nigeria’s inflation rises to 11.85%, highest in 19 months

Daily Dispatch December 17, 2019

The nation’s inflation rate rose to 11.85 per cent in November, its highest level since May 2018, a new report released on Tuesday by the National Bureau of Statistics showed. “The consumer price index, which measures inflation, increased by 11.85 per cent (year-on-year) in November 2019. This is 0.24 per cent points higher than the […]

BUSINESS

Electricity bill: Niger, Benin Republics others owe Nigeria N11.17billion

Daily Dispatch December 16, 2019

The Nigerian Electricity Regulatory Commission (NERC) has said that in second quarter 2019, international customers owed Nigeria electricity bills totally N11.17billion, The Nation reported. The commission’s second quarter report which The Nation stumbled on Monday noted that the in the period under review, the customers did not make any payment to the Nigerian Bulk

BUSINESS

Banks Should Stop Using Common People’s Money To Buy Off Rich Men’s Debts- Governor Abiodun

Daily Dispatch December 13, 2019

By ABIODUN JIMOH, ABEOKUTA Banks and financial institutions in Nigeria have been tasked to abolish the system of using the savings of the common people to buy off debts of the rich. Prince Dapo Abiodun, Ogun State Governor stated this on Friday while welcoming participants to the 11th Annual Bankers’ Committee Retreat, with the theme, […]

BUSINESS

CBN says refund to bank customers stand at N76.7bn, $20.9m

Daily Dispatch December 12, 2019

The Central Bank of Nigeria (CBN) says the worth of money refund to bank customers as at Nov. 30 stood at N76.75 billion and 20.90 million dollars. Mr Kofo-Abdulsalam Alada, the Director, Consumer Protection Department (CPD) of CBN, said this at a workshop for business editors and members of the Finance Correspondents Association of Nigeria […]

BUSINESS

P&ID: “We supplied statements of account to EFCC on demand”- GTB tells court

Daily Dispatch December 11, 2019

Akinwande Adewale Akinseye, a Guarantee Trust Bank (GTB) staff, on Tuesday, told James Nolan, the British national and a director in the Process and Industrial Development (P&ID) Nigeria Ltd., that his bank supplied the statements of accounts of the company to EFCC on demand. NAN reports that Akinseye made the remark before Justice Okon Abang […]