BUSINESS

Passengers stranded as Port Harcourt airport runway shuts down

Daily Dispatch June 23, 2019

Hundreds of passengers on domestic and international flights were left stranded (Saturday and Sunday) at the Port Harcourt International Airport, Rivers State, as the airport runway remained closed against traffic following the delay in removing a spoilt Boeing 737 aircraft belonging to Air

BUSINESS

ACFTA: former President Obasanjo urges FG to sign

Daily Dispatch June 20, 2019

Former President Olusegun Obasanjo has urged the Federal Government to sign the African Continental Free Trade Area (ACFT) agreement. Obansanjo made the call at the ongoing 2019 Africa Export-Import Bank (Afreximbank) on Thursday in Moscow Russia. He said Nigeria had no justifiable reason why it had not signed the agreement as countries like Eritrea, Niger […]

BUSINESS

Breaking: Otedola announces sale of Forte Oil Plc

Daily Dispatch June 19, 2019

Billionaire businessman, Femi Otedola, has announced the sale of Forte Oil Plc. Otedola, who was chairman of the oil firm, had announced plans to sell off his 75 per cent stake in the company to “maximise the opportunities in refining”. In a message he posted on Instagram on Wednesday, he confirmed that the process is […]

BUSINESS

Court adjourns FG’s $406.7m debt recovery suit against Shell

Daily Dispatch June 19, 2019

A Federal High Court in Lagos on Wednesday adjourned until Sept. 30, for continuation of trial in a debt recovery suit by the Federal Government against Shell Western Supply & Trading Ltd. In the suit numbered FHC/L/CS/336/16 and filed by its counsel, Prof. Fabian Ajogwu (SAN), the government seeks to recover 406.7 million dollars allegedly […]

BUSINESS

Institute reveals three Northern states which produce good quality rubber

Daily Dispatch June 19, 2019

Kaduna, Adamawa and Taraba have been revealed as states that now produce good quality rubber in commercial quantity in the country. Dr Wuranti Vala, an official of the National Rubber Research Institute of Nigeria, disclosed this on Wednesday during a visit by students of Government Secondary School Zuturung Kari, Zangon Kataf, to the rubber plantations […]

BUSINESS

Tribunal reverses FIRS’s N29.2 VAT on bank

Daily Dispatch June 19, 2019

The Tax Appeal Tribunal, sitting in Abuja on Wednesday, reversed N29.2 million Federal Inland Revenue Service’s (FIRS) imposed as value added tax on Infinity Trust Mortgage Bank. The bank had challenged FIRS’s imposition of the amount. The tribunal chairman, Mrs Alice Iriogbe, delivering judgment, held that FIRS failed to prove that those services carried out […]