BUSINESS

Breaking: MTN deactivates 0.6m customers

Daily Dispatch October 30, 2019

MTN Nigeria Communications Plc (MTN Nigeria) has deactivated 0.6 million active subscribers under regulatory directive. It also reported an increase in its service revenue by 12.1 per cent to N854.9 billion, according to its unaudited results for nine months ended September 30, 2019. The telco

BUSINESS

Smuggling must be dealt with to revive cotton, sub-sector – Emefiele

Daily Dispatch October 30, 2019

The Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele says smuggling must be dealt with to effectively and successfully revive Cotton, Textile and Garment (CTG) sub-sector. Emefiele said this at the signing of Memorandum of Understanding (MoU) with some critical stakeholders in the CTG sub-sector in Abuja on Tuesday. The News Agency […]

BUSINESS

N25bn Damages: FIRS, First Bank to settle out of court

Daily Dispatch October 30, 2019

Federal Inland Revenue Service (FIRS) and First Bank Plc have opted for out of court settlement in a N25 billion damages suit filed against them by an indigenous company, Biatemp Ventures Ltd over alleged account manipulation. The company had sued First Bank and FIRS before a Federal High Court, Abuja, demanding N25 billion special and […]

BUSINESS

CBN to inject N100bn for cotton textile, garment growth

Daily Dispatch October 29, 2019

The Central Bank of Nigeria (CBN) is looking at injecting N100 billion as its intervention in the cotton, textile and garment (CTG) value chain. So far the apex has disbursed about N50 billion to the cotton and ginning components of the intervention. These disclosures were made by the CBN Governor Mr. Godwin Emefiele after the […]

BUSINESS

Reps concur with Senate, pass oil production sharing contract bill

Daily Dispatch October 29, 2019

The House of Representatives has concurred with the Senate by passing a bill amending the Offshore and Inland Basin Production Sharing Contract Act 2014. In an accelerated process, the House considered the bill for second and third readings at the plenary on Tuesday. The Senate on October 15, 2019, unanimously passed the bill, when President […]

BUSINESS

Breaking: NAICOM grants 44 insurance firms no objection on recapitalisation plan

Daily Dispatch October 29, 2019

Ahead of June 30, 2020 deadline for Insurance companies to recapitalise, the National Insurance Commission (NAICOM) has granted no objection to 44 insurance companies to proceed with their recapitalisation plan. The Acting Commissioner Olorundare Thomas made this known during an interactive session with shareholders in Lagos. Thomas represented by the Director, Policy and