BUSINESS

TCN: Boko Haram insurgents strike power transmission sub-station in Maiduguri

Daily Dispatch May 9, 2019

The Transmission Company of Nigeria (TCN) on Thursday said its 330/132kV transmission substation at Molai in Maiduguri, Borno State was attacked by insurgents on the 7th of May, 2019, at about 5:30pm. In a statement signed by the General Manager (Public Affairs) Ndidi Mbah, TCN said that during

BUSINESS

Court dismisses FG’s $55m debt recovery suit against Agip oil

Daily Dispatch May 8, 2019

A Federal High Court sitting in Lagos on Wednesday dismissed a $55million debt recovery suit filed by the Federal Government of Nigeria against Agip Oil Company Limited. In her judgment, Justice Mojisola Olatoregun held that the Federal Government failed to furnish the court with sufficient evidence in proof of the case. The suit which was […]

BUSINESS

Nigeria revenue from deep water operations exceeds $180b

Daily Dispatch May 8, 2019

Nigeria’s deep water operations have generated revenue exceeding $180billion following industry players’ capital investment in excess of $65billion with the potentials for growth amidst untapped abundant opportunities in the sector. The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, made this disclosure while delivering a

BUSINESS

SEC approves MTN listing on NSE

Daily Dispatch May 8, 2019

The Securities and Exchange Commission (SEC) said that it has approved MTN Nigeria’s  application to list on the Nigerian Stock Exchange (NSE) by way of introduction. Mrs Efe Ebelo, SEC Head, Corporate Communications, confirmed this to the News Agency of Nigeria (NAN) in Lagos. Ebelo said  the commission has approved the company’s application to be […]

BUSINESS

Three candidates that may succeed Godwin Emefiele

Daily Dispatch May 7, 2019

Nigeria’s central bank governor for the next five years will have to balance fighting inflation and propping up the currency against pressure to boost an economy that’s expanding slower than emerging-market peers. Godwin Emefiele’s first five-year term ends in June and he could be reappointed. But with less than a month to go, the top […]

BUSINESS

Court dismisses AGF’s objection to MTN’s N3.b suit

Daily Dispatch May 7, 2019

The Federal High Court in Lagos Tuesday dismissed a preliminary objection by the Attorney-General of the Federation (AGF) challenging a N3billion suit by MTN Nigeria Communication Ltd. MTN sued the AGF for demanding N242 billion and $1.3 billion as import duties and withholding tax assessments from it. By a September 10, 2018 writ, MTN is […]