BUSINESS

Pay oil producing communities in Niger Delta N6.9billion – NASS tells Shell

Daily Dispatch April 4, 2019

Shell Petroleum Development Company (SPDC) was on Thursday told to pay the oil producing communities in the Niger Delta the sum of N6.9 billion. The National Assembly, which made the call, told the oil company to comply with the resolution of the Senate. The N6.9 billion is for accumulated

BUSINESS

IMF tells FG to remove fuel subsidy

Daily Dispatch April 4, 2019

The Executive Board of the International Monetary Fund (IMF) has concluded its Article IV consultation with Nigeria and called for the removal of fuel subsidy. According to a statement by the fund, this afternoon, in place of fuel subsidy, it urged the federal government to increase its social spending on the poor as a means […]

BUSINESS

We’ve recovered N29bn from debtors of liquidated banks – NDIC

Daily Dispatch April 4, 2019

The Managing Director of Nigeria Deposit Insurance Corporation ( NDIC ), Umaru Ibrahim has said that, the corporation has so far recovered N29 billion from debtors of liquidated deposit money bank, microfinance banks and primary mortgage banks. He said that NDIC insured limits of N500, 000 for depositors in deposit money banks, non-interest bank and […]

BUSINESS

N9trn PenCom fund: Reps threaten to issue bench warrant on PFAs

Daily Dispatch April 3, 2019

House of Representatives threatens to issue a bench warrant to compel Pension Fund Administrators to appear before its ad hoc committee if they fail to attend the public hearing on April 4. Rep Johnson Agbonayinma (APC-Edo), Chairman, Ad hoc Committee to Investigate the Activities of National Pension Commission and its administrators, gave the warning on […]

BUSINESS

N2b lawsuit: I was forced to pay N7m to FIRS

Daily Dispatch April 2, 2019

A prosecution witness, Mr Bharat Vora, told a Federal High Court Abuja that the Federal Inland Revenue Service(FIRS) forced him to pay to seven million Naira to reopen his company. Vora, Managing Director of Mutunci Company Nigeria, during cross examination by the FIRS counsel, Mrs Efe Lawrence, said that the FIRS collected the money but […]

BUSINESS

Bata Back in Nigeria, Builds $1m Plant in Abuja

Daily Dispatch April 2, 2019

Stakeholders of Bata shoe accessories have launched a $1m fund for the building of an Abuja factory to tackle shoe importation problem in the country. Mr Tobe Eze who spoke on behalf of the stakeholders said Bata is a company which was involved in the manufacturing of shoe accessories in the 60s and 70s but […]