BUSINESS

How $5billion Chinese loan was spent – Buhari

Daily Dispatch September 5, 2018

President Muhammadu Buhari yesterday in China gave a detailed breakdown of how his government spent the over $5 billion loan received from Chinese government. Speaking at the FOCAC Round Table meeting in Beijing which was attended by African leaders and Chinese President Xi Jinping, Buhari said

BUSINESS

CBN boosts foreign exchange market with $210m

Daily Dispatch September 4, 2018

The Central Bank of Nigeria says it has injected 210 million dollars into the inter-bank Foreign Exchange Market to meet customer’s request in various segments of the market. The CBN Director, Corporate Communications, Mr Isaac Okorafor, said in a statement in Abuja on Tuesday that 100 million dollars was offered to authorised dealers in the […]

BUSINESS

Rising Debt: Stop Mortgaging the Future of Nigerians, Says Timi Frank  …Urges China to be Wary of Granting Loans

Daily Dispatch September 4, 2018

Former Deputy National Publicity Secretary of the All Progressives Congress (APC), Comrade Timi Frank, has described the astronomical rise in the nation’s Foriegn debt portfolio under the present administration as worrisome with a call on President Muhammadu Buhari to stop mortgaging the future of Nigerians. Frank who made the declaration in a statement in Abuja […]

BUSINESS

The South African economy on Tuesday contracted into a technical recession, Bloomberg has reported.

Daily Dispatch September 4, 2018

Latest economic data by the country’s statistics agency showed second quarter gross domestic product (GDP) declined by about -0.7 per cent, driven by the poor performance in key sectors, including agriculture, transport and retail businesses. It is the first time since 2009 that the South African economy, the second largest in Africa after Nigeria, will […]

BUSINESS

Nigeria’s partnership with China yields over $5billion – Buhari

Daily Dispatch September 4, 2018

President Muhammadu Buhari says Nigeria’s partnership with China through the Forum on China-Africa Cooperation (FOCAC) has resulted in the execution of vital infrastructure projects across the country, valued at over $5 billion. The president disclosed this in Beijing, in a statement on Tuesday in Abuja by his Senior Special Assistant on Media and Publicity, Garba […]

BUSINESS

FG asks MTN to fresh $2billion tax arrears

Daily Dispatch September 4, 2018

The Federal Government is asking MTN Nigeria to pay fresh $2bn tax arrears on imported equipment and payments to suppliers. It was gathered that the Attorney General of the Federation, Abubakar Malami, in a letter to the company, said the tax arrears dated back to 10 years. “The Attorney General notified MTN that his office […]