BUSINESS

Nigerian banks lose 2m customers in 2 years – Statistics

Daily Dispatch March 19, 2018

Despite Central Bank of Nigeria’s (CBN) effort to promote financial inclusion,Nigerian banks lost over 2 million customers between 2016 and 2017. According to statistics from the Nigeria Inter-Bank Settlement System (NIBSS), the number of active bank accounts also reduced by 1.5 million,

BUSINESS

IMF raises alarm as banks take N2.4 trillion central bank loans in 3 months

Daily Dispatch March 18, 2018

International Monetary Fund (IMF) has cautioned against rising risks in the banking sector leading to banks borrowing a total of N2.496 trillion from Central Bank of Nigeria (CBN) during the last three months of 2017 according to data obtained from the apex bank at the weekend. Also at the inter-bank fund’s segment, weighted average interbank […]

BUSINESS

NEXIM offers N500 billion to boost export businesses

Daily Dispatch March 18, 2018

The Nigeria Export-Import (NEXIM) Bank has said the federal government has made available N500 billion loanable for businessmen and women who are into production of goods and services for export. NEXIM’s Executive Director, Mrs. Stella Okotete, stated this in Akure, Ondo State during an interactive session with stakeholders, exporters and businessmen weekend. The loan,

BUSINESS

Falana criticise NNPC for rejecting request to provide information of petrol subsidy

Daily Dispatch March 18, 2018

Femi Falana, human rights lawyer, has criticised the Nigerian National Petroleum Corporation (NNPC) for rejecting a request to provide information on the amount of money spent on petrol subsidy and turnaround maintenance of refineries. Using the freedom of information (FOI) act, Falana asked the commission to disclose the revenue realised from the sale of the […]

BUSINESS

NNPC: Refineries will be back to optimal capacities soon

Daily Dispatch March 18, 2018

The Nigerian National Petroleum Corporation (NNPC) would not relent in its quest to get the nation’s four refineries back to their optimal, nameplate capacities. Group Managing Director of the corporation, Dr. Maikanti Baru, disclosed this shortly after receiving this year’s Man of the Year Award from Nigerian NewsDirect, a Lagos-based daily publication, in Lagos, at […]

BUSINESS

FG has not cancelled PPAs- Adeosun

Daily Dispatch March 16, 2018

Minister of Finance, Mrs. Kemi Adeosun, has reacted to reports on the purported cancellation of the Power Purchase Agreements (PPAs) signed by the Federal Government with Project Developers in the power sector. She stated that the Federal Government has not cancelled the PPAs. Her Media Adviser, Oluyinka Akintunde, in a statement sent to DAILY POST […]