BUSINESS

CBN, NCC, PPRA top govt. agenciesyet to remit N2.78 trillion to federation account

Daily Dispatch December 19, 2018

No fewer than 50 Government-Owned Enterprises (GOEs) are yet to remit about N2.78 trillion into the Federation Account as operating surpluses in line with the provisions of extant laws. Some of the GEOs and agencies identified to be owing operating surpluses include the Central Bank of Nigeria

BUSINESS

Malabu Scam: $523m bribe cash traced to ex- ministers, politicians

Daily Dispatch December 19, 2018

About $523 million of the $1.092 billion paid for the controversial Malabu Oil Block (OPL 245) was shared out as bribes to some former ministers and politicians, investigations have shown. A former minister blew about $250million on real estate, aircraft and exotic cars, according to the probe. These details are contained in ll Fatto Quotidiano […]

BUSINESS

Ogun revenue service generates N45.8bn in 10 months

Daily Dispatch December 18, 2018

Adekunle Adeosun, Chairman, Ogun Internal Revenue Service (OGIRS), on Tuesday said that the agency generated over N45.8billion revenue to the coffers of the state government between January and October. Adeosun disclosed this while defending the 2019 budget proposal of the agency before the members of House Committee on Finance and Appropriation, at the assembly complex,

BUSINESS

Nigerians residing in UK top list of money senders —World Bank

Daily Dispatch December 18, 2018

Nigerians in the UK have emerged the highest senders of money to their home country with £3.27m being sent in 2017. According to a World Bank report, Nigeria was the top receiver of cash from the UK, followed by India, France and Pakistan, reports Daily Mail. This makes the UK the fourth largest source of remittances after […]

BUSINESS

Shell grows Bonga oil production to 800m barrels

Daily Dispatch December 18, 2018

Crude oil production from the deepwater asset of the Shell Nigeria Exploration and Production Company (SNEPCo), Bonga field, has reached over 800 million barrels. Shell’s Media Relations Manager, Bamidele Odugbesan, in a statement, said the feat was achieved in 13 years of production from the field. He added it confirms the oil giant as a […]

BUSINESS

Malabu Scam :Eni, Shell aware of corrupt payments, Judge rules

Daily Dispatch December 18, 2018

An Italian judge, Giusy Barbara, found out on Monday that Eni and Royal Dutch Shell were fully aware that their 2011 purchase of Nigeria’s Oil Prospecting Lease (OPL 245) would result in corrupt payments to Nigerian politicians and officials. Italy’s Eni and Shell bought the OPL 245 offshore field for about 1.3 billion dollars  from […]