BUSINESS

Petrol crisis: NNPC imports $5.8bn worth of PMS

Daily Dispatch February 20, 2018

The Nigerian National Petroleum Corporation (NNPC) said it spent about 5.8 billion dollars to import Premium Motor Spirit (PMS) popularly known as petrol to combat fuel crisis that resurfaced since late last year. In a statement signed by Mr Ndu Ughamadu, the Group General Manager, Group Public

BUSINESS

Central bank lifts foreign exchange market with $210m

Daily Dispatch February 20, 2018

The Central Bank of Nigeria (CBN) has provided fresh 210 million dollars to meet customers’ requests in various segments of the foreign exchange market. The Bank’s Acting Director, Corporate Communications Department, Mr Isaac Okorafor in a statement on Monday in Abuja, said that 100 million dollars was offered to authorised dealers in the wholesale segment […]

BUSINESS

Senate to probe N3.4 billion NNPC/Agip security account

Daily Dispatch February 20, 2018

The Senate, on Tuesday, mandated its Committee on Public Accounts to investigate the rationale behind a security account allegedly operated by the Nigeria National Petroleum Corporation (NNPC) and Nigerian Agip Oil Company. This followed the adoption of a motion moved by Sen. Dino Melaye (Kogi-APC). Moving the motion, Melaye said there was the need for […]

BUSINESS

Deregulation responsible for development of LPG sector – NLPGA

Daily Dispatch February 20, 2018

Deregulation has been identified as a major single factor responsible for the development of Nigeria’s Liquefied Petroleum Gas sector. Mr. Nuhu Yakubu, the President of the Nigeria Liquefied Petroleum Gas Association (NLPGA), disclosed in an interview that: ‘’the best and most important policy of government that was introduced to promote investment in Nigeria’s LPG sector

BUSINESS

Nigeria businesswoman drags Turkish airlines to court over assault

Daily Dispatch February 20, 2018

A Nigeria businesswoman, Tolulope Ogundokun, has sued Turkish Airlines before the Federal High Court, Lagos, for delayed boarding and assault during her trip from Istanbul, Turkey, to Heathrow, London. Ogundokun, who resides in Lagos, told the Federal High Court through her counsel, Mr. Mike Igbokwe (SAN), how she was battered and physically abused by a […]

BUSINESS

Only six banks meet CBN’s dividend payout rule

Daily Dispatch February 20, 2018

Only six banks have met the Central Bank of Nigeria’s directive on dividend payout by commercial banks and discount houses. They are: Access Bank, Zenith Bank, Guaranty Trust Bank (GTB), First City Monument Bank (FCMB), Wema Bank and United Bank for Africa (UBA). This was contained in a report released on Monday by Afrinvest West […]