BUSINESS

MTN: No specific date for our IPO

Daily Dispatch May 28, 2018

MTN Group says there is no specific date for its initial public offering yet as it is still perfecting details of the proposed listing. A spokesperson of the company who spoke to NAN on Monday said details of the IPO will be announced at the appropriate time. NAN reports that both the

BUSINESS

Emefiele visits banks unannounced, says forex must be sold to non-customers

Daily Dispatch May 28, 2018

Godwin Emefiele, Central Bank of Nigeria (CBN) governor, says commercial banks must sell forex to people who are not their customers. The CBN governor made this statement on Monday when he paid an unannounced visit to First Bank, UBA and Zenith banks offices in Abuja. He said the visit was to ascertain banks’ compliance with […]

BUSINESS

Ajaokuta Steel Company will not work unless you pacify our angry ancestor (Egbunu Akoko) – Host community threatens

Daily Dispatch May 28, 2018

Communities which own the land on which Ajaokuta Steel Company is built say the firm cannot take off unless their angry ancestor, Egbunu Akoko,” is pacified. The community leaders of Geregu and Ajaokuta, the host  communities in Kogi, expressed the view in interviews with News Agency of Nigeria . The chairman, Geregu Community Association, Idris Aliyu, attributed […]

BUSINESS

OPEC+ reaches goal of wiping out oil-stock surplus

Daily Dispatch May 27, 2018

OPEC and allied oil producers, including Russia have concluded that the crude market re-balanced in April, when their collective production cuts achieved a key goal of draining the surplus in global stockpiles. The excess in oil inventories, which has weighed on prices for three years, plunged in April to less than the five-year average for […]

BUSINESS

CBN orders banks to give travellers FOREX OTC

Daily Dispatch May 27, 2018

The Central Bank of Nigeria (CBN ) has authorised all commercial banks to sell foreign exchange to travellers Over The Counter (OTC) whether they operate an account  with the bank or not. Mr Isaac Okorafor,  CBN Acting Director of  Corporate Communications disclosed this in a statement issued in Abuja, on Sunday. According to him,  the […]

BUSINESS

Foreign investors exit NSE over 2018 budget delay

Daily Dispatch May 26, 2018

The market capitalisation of the Nigerian Stock Exchange (NSE) lost N416 billion in five trading days due to the exit of foreign investors following delay in 2018 budget passage. Market statistics obtained by NAN showed that the market capitalisation which opened trading on May 21 at N14.660 trillion shed N416 billion or 2.84 percent to […]