BUSINESS

FG Sukuk Bond oversubscribed, receives N132bn for N100bn offer

Daily Dispatch December 22, 2018

The Federal Government received over N132 billion subscriptions from 2,073 investors for its N100 billion 7-year 15.74 per cent Sukuk offer, the Debt Management Office (DMO) has said. The DMO, in a statement in Abuja on Saturday, announced the result and added that the bond would be due in

BUSINESS

Swiss close to revealing Nigerian beneficiaries of $1.1b Malabu oil bribes

Daily Dispatch December 21, 2018

Materials in a suitcase seized nearly three years ago by Swiss authorities may unlock the identities of the Nigerian recipients of the $1.1billion in corrupt payments by Shell and ENI over the purchase of OPL 245 from Malabu Oil. A Geneva prosecutor is now reviewing the materials and will decide what can be shared with […]

BUSINESS

Court seals off Abuja Banex Plaza

Daily Dispatch December 21, 2018

The popular Banex Plaza located in Wuse 2, Abuja, was on Friday sealed off on the alleged order of a magistrate court. The News Agency of Nigeria (NAN) reports that Abuja Environmental Protection Board (AEPB) had gone to court asking for the vacation of the premises by Banex Plaza tenants. Mr Chibuike Nzedinma, Chairman, Banex […]

BUSINESS

Nigerians spend N1.6 Trillion on generators annually- NESRA

Daily Dispatch December 21, 2018

Director General of the National Environmental Standards and Regulations Enforcement Agency (NESRA), Lawrence Anukam, has said that recent statistics from the Centre for Management Development, indicate that an estimated 60 million Nigerians spent about N1.6 trillion on generators annually. Anukam, who made this disclosure at a press briefing on the implementation of the

BUSINESS

NAICOM again bows to pressure, withdraws SIP policy

Daily Dispatch December 21, 2018

The National Insurance Commission (NAICOM) on Thursday withdrew State Insurance Producer (SIP), a new insurance distribution channel it newly evolved. The commission announced the withdrawal in a circular signed for the Commissioner for Insurance (CFI), Alhaji Mohammed Kari, by the Director, Policy and Regulation, Mr Agboola Pius. The circular entitled, “Withdrawal

BUSINESS

FG to release N1.1trillion for 2018 project- Zainab

Daily Dispatch December 20, 2018

The Minister of Finance, Mrs Zainab Ahmed, says the Federal Government is working towards ensuring it pushes its releases for capital projects from the 2018 budget to N1.1 trillion by the end of December. The minister said this while answering questions at the public presentation of the 2019 budget highlights on Thursday in Abuja. President […]