BUSINESS

IMF lauds Nigeria’s strong recovery in foreign exchange reserves

Daily Dispatch March 8, 2018

The International Monetary Fund (IMF) on Wednesday welcomed Nigeria’s exit from economic recession and lauded its strong recovery in foreign exchange reserves. IMF said this in a report released on Wednesday in Washington DC by its Executive Board after the conclusion of Article IV Consultation

BUSINESS

MTN announces $279 million annual profit

Daily Dispatch March 8, 2018

MTN Group, Africa’s biggest mobile phone operator, returned to annual profit in 2017 in the absence of one-off charges related to a $1.1 billion Nigerian fine. Headline earnings totalled 3.3 billion rand ($278.82 million), or 182 cents per share, in the year ended December, compared with a loss of 1.4 billion rand, or 77 cents […]

BUSINESS

CBN gives N412million to 1, 500 rice farmers in Daura

Daily Dispatch March 8, 2018

About 1,500 rice farmers in Daura, Katsina state, where President Muhammadu Buhari hails from, have received various farming implements under the Phase 11 of the Central Bank of Nigeria (CBN) anchor borrowers scheme. Chairman of the Daura chapter of the Rice Farmers Association of Nigeria (RIFAN), Nura Baure, confirmed this on Thursday. According to Baure, […]

BUSINESS

Anti-labour practices: Nokia workers down tools in Nigeria

Daily Dispatch March 8, 2018

Workers in Nokia Solutions Networks Ltd. have commenced a three-day warning strike to protest anti-labour practices by the management of the company. The workers said they embarked on the strike as members of the Private Telecommunications and Communications Senior Staff Association of Nigeria. The General Secretary of the association, Mr Okonu Abdullahi, told the News

BUSINESS

Senate summons British company over $3.3billion oil deal

Daily Dispatch March 8, 2018

The Senate Committee on Local Content has summoned a British firm, BP Oil International Limited over a $3.3 billion pre-financing crude oil deal that may have breached the Nigerian Oil and Gas Content Development (NOGICD) Act 2010. In the summon to the Chief Executive Officer, Mr. Robert Dudley, the chairman of the senate committee Senator […]

BUSINESS

Central bank to increase women’s access to credit

Daily Dispatch March 7, 2018

Central Bank of Nigeria has pledged to improve access to formal financial services for women, especially credit through its various intervention programmes. The Director, Development Finance Department, CBN, Dr Mudashiru Olaitan, made the pledge on Wednesday in Abuja at the CBN 2018 International Women’s Day workshop tagged “Women Inspiring Change”. Olaitan, who was