BUSINESS

Federal Govt to set up cashew processing plants in 4 states — Ogbeh

Daily Dispatch March 31, 2019

The Federal Government says it plans to set up cashew processing plants in four states of the country to add value to the produce and create employment, wealth in the country. Chief Audu Ogbeh, the Minister of Agriculture and Rural Development, said this in an interview with the News Agency of

BUSINESS

N8.7bn debt: Innoson Motors takes over GTBank

Daily Dispatch March 29, 2019

Innoson Nigeria Limited, Nigeria’s indigenous vehicle production company, has instituted a move to take over Guaranteed Trust Bank, GTB, following a ruling by the Supreme Court over the bank’s N8.7 billion indebtedness to the company. The company’s chairman, Chief Dr Innocent Chukwuma, made the move through a “Writ of FiFa taken over Guaranty Trust Bank […]

BUSINESS

Document: Regulators knew 737 MAX trim control was confusing before crash

Daily Dispatch March 29, 2019

United States and European regulators knew at least two years before a Lion Air crash that the usual method for controlling the Boeing 737 MAX’s nose angle might not work in conditions similar to those in two recent disasters, a document shows. The European Aviation and Space Agency (EASA) certified the plane as safe in […]

BUSINESS

FG, STATES AND LGCs SHARE N619.857 BILLION FOR THE MONTH OF FEBRUARY,  2019.

Daily Dispatch March 27, 2019

A total of  N619.857 billion has been distributed  as Federal Allocation for the month of February 2019 between the  Federal, States and Local Government Councils.  The  communiqué issued by the Technical  Sub -Committee of the Federation Accounts Allocation Committee (FAAC) at the end of its February meeting, indicated that the Gross statutory revenue received was […]

BUSINESS

FG, States, LGAs Share N660.37bn February FAAC Allocations

Daily Dispatch March 27, 2019

Data by the National Bureau of Statistics (NBS), on Tuesday showed that the Federal Government received N275.33bn, representing 41.69% of the N660.37bn distributed among the three-tiers of government in February from the Federation Account Allocation Committee (FAAC). The amount, being revenue generated into the Federation Account during the month of January 2019, the NBS

BUSINESS

Analyst: Why central bank may cut key interest rates again

Daily Dispatch March 27, 2019

Lukman Otunuga, research analyst at FXTM, says the Central Bank of Nigeria (CBN) would likely cut interest rates further if macro economic conditions in the country improve. Otunuga was reacting to an announcement by Godwin Emefiele, CBN governor, which detailed a reduction in benchmark interest rate, on Tuesday. Pegged at 14% for almost three years, […]