BUSINESS

Nigeria leads Africa in remittances inflow

Daily Dispatch November 6, 2018

The Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, said Nigeria tops other African countries in remittances inflows and is among the top five globally. He did not give a figure, but said African countries received $72billion in remittances in 2017. Emefiele, who was

BUSINESS

Dollar keeps to tight ranges as investors brace for US elections

Daily Dispatch November 6, 2018

The dollar stuck to tight ranges against its major rivals on Tuesday as investors favoured caution ahead of U.S. mid-term elections later in the day. The U.S. congressional election is widely expected to boost the Democratic Party which has a strong chance of winning control of the House of Representatives, with Republicans seen likely to […]

BUSINESS

Breaking: Senate sets up ad hoc committee to investigate $3.5bn NNPC subsidy use

Daily Dispatch November 6, 2018

The Senate says it has set up an ad hoc committee to investigate the use to which the sum of $3.5bn alleged subsidy was put. This was contained in a tweet on the verified Twitter handle of The Nigerian Senate, @NGRSenate. The tweet reads, The Nigerian Senate ✔  · 15m Replying to @NGRSenate “I ask that […]

BUSINESS

HSBC, UBS shutdown offices in Nigeria- Report

Daily Dispatch November 5, 2018

HSBC and UBS have closed their offices in Nigeria, the country’s central bank a report said on Friday as it revealed foreign investment had fallen sharply from a year ago. The bank said foreign direct investment in Nigeria fell to 379.84 billion naira ($1.2 billion) in the first half of the year from 532.63 billion naira ($1.7 billion) […]

BUSINESS

Apapa gridlock threat to South West, Nigerian economy –Governors’ Forum

Daily Dispatch November 5, 2018

The South-West Governors’ Forum says the incessant gridlock on Apapa Expressway in Lagos State is posing a serious threat to the economy of the region and that of Nigeria as a whole. The governors, in a communique at the end of its quarterly meeting on Monday in Osogbo, Osun State, urged the Federal Government to […]

BUSINESS

Diversion of NLNG dividends: Senate to probe NNPC – Saraki

Daily Dispatch November 5, 2018

Senate President, Dr. Abubakar Bukola Saraki, has said that the Senate on resumption of plenary will further probe the claims by the NNPC), on diversion of dividends from the Nigerian Liquefied Natural Gas (NLNG). In a statement issued by Yusuph Olaniyonu, Special Adviser (Media and Publicity) to the President of the Senate, Saraki said that he […]