BUSINESS

41 banned items not qualified under Nigeria-China currency swap- CBN

Daily Dispatch May 20, 2018

The Central Bank of Nigeria (CBN) said the Nigeria-China currency swap deal would not cover the importation of the 41 items banned in its 2015 circular on items not valid for foreign exchange. CBN’s acting Director, Corporate Communications, Mr Isaac Okorafor, made this known in an interview

BUSINESS

Buhari govt sets up presidential infrastructure fund with N199 billion

Daily Dispatch May 18, 2018

The federal government on Wednesday approved the transfer of about $650 million (about N198.9 billion) to the Nigerian Sovereign Investment Authority (NSIA) as initial funding for the take -off of the Presidential Infrastructure Development Fund (PIDF). The National Economic Council (NEC) announced the establishment of the Fund and the disbursement of the seed funding at

BUSINESS

FG opens online portal for investors

Daily Dispatch May 17, 2018

The Federal Government has launched an up-to-date online portal, `iGuide Nigeria’, containing necessary information and relevant data for willing investors. The Minister of Trade and Investment, Mr Okechukwu Enelamah, at the launch in Abuja on Thursday, said the portal would greatly improve the Ease of Doing Business in the country. The Permanent Secretary of the […]

BUSINESS

Governors Query NNPC Spending, Suspend ‘Cash-Call’ Payment

Daily Dispatch May 17, 2018

The Nigerian Governors’ Forum (NGF) has queried the spending of the Nigerian National Petroleum Corporation (NNPC) and asked it to clarify its expenses. Chairman of the Forum and Zamfara State Governor, Abdul’Aziz Yari, stated this on behalf of his colleagues after they met in Abuja, the nation’s capital. Addressing reporters on Wednesday night, Governor Yari […]

BUSINESS

Central bank approves N1 billion for SMEs in Niger

Daily Dispatch May 17, 2018

The Central Bank of Nigeria (CBN) has approved the release of second tranche of N1 billion from the Micro Small and Medium Enterprises Development Fund (MSMEDF) for disbursement to Small and Medium Enterprises (SMEs) in Niger State. Commissioner of Investment, Commerce and Cooperatives, Alhaji Mudi Muhammad, said more than 1000 women and youth across the […]

BUSINESS

Alleged Illegal Mining: Nigerian court grants bail to 16 Chinese, 10 others

Daily Dispatch May 16, 2018

A Jos Federal High Court II on Wednesday granted bail to a miner, Abdullahi Adamu, alias Dan-China, 16 Chinese nationals and 9 other Nigerians who are being tried by the federal government for alleged illegal mining. Justice Musa Kurya, the presiding judge, who granted all the accused bail in the sum of N100 million, directed […]