BUSINESS

NNPC denies hiding $470.5m, N8bn in commercial banks

Daily Dispatch September 21, 2018

The Nigerian National Petroleum Corporation says it has no hidden 470.5 million dollars and N8 billion in any commercial bank as alleged by the Nigerian police. The NNPC in a statement by its Group General Manager, Group Public Affairs Division, Mr Ndu Ughamadu, in Abuja on Friday, explained

BUSINESS

AfDB takes continent to Canada

Daily Dispatch September 20, 2018

African Development Bank has asked Canadian investors to pour into the continent, seizing advantage of numerous investment opportunities; advising also that it is time to “change the lens through which Africa is perceived’’. Dr. Akinwumi Adesina, President of AfDB made the call at a meeting with 80 leading representatives of the Canada-Africa Chamber of Commerce […]

BUSINESS

CBN ‘reviewing’ sanctions placed on MTN, four banks

Daily Dispatch September 20, 2018

The Central Bank of Nigeria (CBN) says it is reviewing the recent sanctions placed on MTN and four commercial banks. In a statement released on Wednesday, the apex bank said the parties involved have submitted fresh documents in response to the sanctions. CBN had ordered MTN to refund $8.1 billion which it claimed the company repatriated using […]

BUSINESS

Keystone Bank sued for alleged non-remittance of $17m to TSA

Daily Dispatch September 19, 2018

An Abuja-based lawyer, Johnmary Jideobi, has sued Keystone Bank for alleged violation of the Treasury Single Account (TSA) policy. The bank was accused of not remitting $17 million to the TSA. The bank is among the seven banks the federal government alleged to have connived with CBNsome government agencies to illegally conceal $793.2 million meant […]

BUSINESS

Nigeria ends investments’ drought for $10bn oilfield

Daily Dispatch September 16, 2018

Nigeria has dug up investors nod for Nigeria’s $10 billion Bonga South West Aparo oil field, which has been on the drawing board for several years. Stating that the Final Investments Decision (FDI) would soon be taken for the deepwater project being championed by Royal Dutch Shell, the UK government declared on its official website […]

BUSINESS

$10bn fraud: NLC blasts MTN, says it must refund FG

Daily Dispatch September 16, 2018

The Nigeria Labour Congress (NLC) has urged communication giant, MTN Nigeria to comply with the directive of the Federal Government to pay the over $10 billion tax arrears and illegal repatriation. Mr Ayuba Wabba, NLC president, made the call in a statement on Sunday in Abuja. Specifically, he said the NLC will advice MTN to […]