BUSINESS

CBN vows to make Nigeria world’s third palm oil producer

Daily Dispatch March 18, 2019

The Central Bank of Nigeria (CBN) has vowed to help push Nigeria to the world’s third largest producer of palm oil. If successful, Nigeria will overtake Thailand and Columbia as a major palm oil producer in the world. Addressing stakeholders in the palm oil industry in Abuja Monday, the

BUSINESS

Forfeiture claim on Airtel shares false, misleading – Subsidiary of Ecobank Group

Daily Dispatch March 17, 2019

O&O Networks Limited, Special purpose vehicle owned by the Ecobank Group says contrary to certain media reports, there is no forfeiture order of the Federal High Court of Nigeria in its proceedings that is directed against Ecobank Transnational Incorporate (ETI) or Ecobank Nigeria Limited. O&O Networks Limited is defending long-standing proceedings in the Federal

BUSINESS

Nigeria’s inflation drops by 0.06% in February – NBS

Daily Dispatch March 15, 2019

The consumer price index, which measures inflation level in the country, dropped to 11.31 percent in February 2018 from the 11.37 percent rate recorded in January 2019. This is according to a monthly inflation data released by the National Bureau of Statistics (NBS), which shows a gradual increase in the price index. The data highlighted […]

BUSINESS

Chevron, NNPC seal gas supply deal for Dangote fertiliser plant

Daily Dispatch March 14, 2019

Chevron Nigeria Limited (CNL), operator of the CNL and the Nigerian National Petroleum Corporation (NNPC) joint venture, on Wednesday, signed a Gas Sale and Aggregation Agreement (GSAA) with Dangote Fertiliser Limited (DFL) and Gas Aggregation Company of Nigeria Limited (GACN) as the ‘aggregator’. The agreement was executed on behalf of the three companies by

BUSINESS

Court orders First Bank to pay 2015 retirees’ entitlement

Daily Dispatch March 12, 2019

The National Industrial Court, Abuja, on Tuesday ordered First Bank of Nigeria Plc to pay its 2015 retirees their entitlements. Justice Sanusi Kado, delivering judgment on behalf of Justices Benedict Kanyip and Rakiya Haastrup. Justice Kado in the judgment declared that the dispute between the parties was a Trade Dispute and the Industrial Arbitration Panel […]

BUSINESS

Court jails ex-Jaiz Bank staff over N1.5m fraud

Daily Dispatch March 12, 2019

A Borno State High Court, sitting in Maiduguri, has sentenced Imam Malik to one year in prison for fraudulently collecting the sum of N1,500,000. It was learnt the said amount of money was collected from one Muhammad Sani Abubakar ostensibly for Mudaraba Investment with Jaiz Bank Plc. EFCC spokesman, Tony Orilade in a statement said […]