BUSINESS

CBN denies N32billion FX market racketeering, says no room for arbitrage opportunities

Daily Dispatch February 4, 2019

The Central Bank of Nigeria (CBN) on Monday said there is no room for racketeering or arbitrage in the nation’s forex scheme. The bank made this statement while reacting to a newspaper report in BusinessDay that some people pocket about N32 billion annually from the N306/$ exchange rate regime.

BUSINESS

We will not sell petrol at FG regulatory price – Dangote

Daily Dispatch February 4, 2019

  The President of Dangote Group, Alhaji Aliko Dangote, has said premium motor spirit (PMS) or petrol that will be refined from Dangote Refinery will not be sold at Federal Government’s regulated price. This ends the speculation about how much the pump price petrol from the first private refinery will attract when it begins operation […]

BUSINESS

ALSCON in Ikot Ibasi set to commence operations

Daily Dispatch February 3, 2019

The Aluminium Smelting Company of Nigeria (ALSCON), Ikot Ibasi, Akwa Ibom State is set to recommence operations as the Bureau of Public Enterprises (BPE) and other critical stakeholders of the company are reaching a comprehensive resolution on the major teething problem of gas confronting the Company. As a first step, the Bureau has requested the […]

BUSINESS

Buhari gives new directive to NNPC

Daily Dispatch February 2, 2019

President Muhammadu Buhari has directed the Nigerian National Petroleum Corporation (NNPC) to extend its exploration to six basins in the country. Buhari gave the directive at Barambu town in Alkaleri Local Government Area of Bauchi State while flagging-off the commencement of drilling activities at Kolmani-II Oil Well, Gongola Basin, Upper Benue Trough. “Exploration in

BUSINESS

No cause for alarm over FG’s `borrowing plan’ – Finance Minister

Daily Dispatch February 1, 2019

The Minister of Finance, Mrs Zainab Ahmed has assured Nigerians that there is no cause for alarm over Federal Governments’ borrowing as it still remained within the fiscal limits. The minister gave the assurance in a statement signed by her Special Adviser on Media and Communications, Mr Paul Abechi on Friday in Abuja. Ahmed said […]

BUSINESS

PZ Cussons: We have no plans of leaving Nigeria

Daily Dispatch February 1, 2019

The PZ Cussons Africa, a leading homecare product maker, says the company has no plans of withdrawing its services and leaving Nigeria. Mr Christos Giannopoulos, Chief Executive Officer (CEO) of PZ Cussons Africa made the declaration at the Alex-Ekwueme Federal University, Ndufu-Alike Ikwo (AE-FUNAI) Ebonyi, during the inauguration of institution’s upgraded chemical