BUSINESS

FG to confiscate financial benefits of debtors – Zainab Ahmed

Daily Dispatch January 27, 2019

Frustrated by refusal to settle their N5 trillion obligations to Assets Management Corporation of Nigeria (AMCON), Federal Government says it will begin to confiscate financial benefits accruing to such debtors. Minister of Finance, Mrs Zainab Ahmed, said at the inauguration of AMCON board of

BUSINESS

FG gives IOCs 14- day ultimatum to pay outstanding revenue on contracts

Daily Dispatch January 25, 2019

The federal government has given International Oil Companies (IOCs) operating in Nigeria’s deep offshore and inland basin a 14-day ultimatum to pay all outstanding revenues on Production Sharing Contracts (PSCs). The government said the revenues are in compliance with the Supreme Court judgment last October. The judgement noted that the IOCs are in default of […]

BUSINESS

Businessman jailed for hacking Nigerian bank network system

Daily Dispatch January 24, 2019

A Federal High Court sitting in Jos on Thursday sentenced a Jos-based businessman, Mr Ibrahim Suleiman, to five years imprisonment for hacking into the system of the now defunct First Inland Bank Plc. The trial judge, Justice Ayo Emmanuel, who delivered judgment in a case of N400 million fraud that spanned 12 years, found Suleiman […]

BUSINESS

Breaking: Armed robbers attack bank in Osun

Daily Dispatch January 24, 2019

Dare-devil robbers have laid siege to a branch of Polaris Bank located in Oke Ejigbo, Ila Orangun in Osun State. The robbery operation, according to sources, was still on as of  5:00 pm  on Thursday. Policemen and other security operatives were said to have been deployed to the scene.

BUSINESS

Breaking: AfDB expels Nigerian firm,CEO for three years over alleged fraud

Daily Dispatch January 23, 2019

The African Development Bank  ( AFDB ) Group has announced the debarment of ALG Global Concept Nigeria Limited, a construction company registered in Nigeria and its Managing Director, Mr. Abuharaira Labaran Gero, for a period of 36 months. In a statement, the bank said an investigation conducted by its Office of Integrity and Anti-Corruption established […]

BUSINESS

Atiku’s monetary policy flawed, disastrous – Emefiele, as CBN retains rates

Daily Dispatch January 23, 2019

Central Bank of Nigeria (CBN) Governor, Godwin Emefiele says the proposed monetary policy of the presidential candidate of the Peoples Democratic Party, PDP, Alhaji Atiku Abubakar is flawed and will reverse the gains the country has made in encouraging local production and manufacturing. Emefiele warned that Atiku’s suggestion that Atiku’s bid to free-float the naira […]