BUSINESS

Insufficient power, major constraint to business —CBN

Daily Dispatch January 16, 2018

Insufficient supply of electricity is the major constraint to business activities across the country, the Central Bank of Nigeria has said. According to the CBN, the latest survey conducted by it on businesses in the fourth quarter of 2017 showed that 62.6 per cent of the surveyed firms

BUSINESS

Inflation rate drops to 15.37% in December – NBS

Daily Dispatch January 16, 2018

The National Bureau of Statistics on Tuesday released the Consumer Price Index which measures inflation with the rate dropping from 15.9 per cent in November to 15.37 per cent in December. The drop of 0.53 percent points recorded in December makes it the eleventh consecutive slowdown in the inflation rate. The report said the Urban […]

BUSINESS

Court sacks Etisalat Board

Daily Dispatch January 14, 2018

The Federal High Court in Lagos has nullified the appointment of an interim board for Emerging Markets Telecommunications Service, the owners of Etisalat. Justice Ibrahim Buba made the order on Friday based on an application by Spectrum Wireless Communication Ltd., which was said to have invested $35m in 2009 in EMTS/Etisalat. The court order nullified […]

BUSINESS

Abubakar Suleiman appointed new Sterling bank MD

Daily Dispatch January 12, 2018

Sterling Bank Plc has appointed Abubakar Suleiman as its new Managing Director/ Chief Executive Officer, CEO. The new bank chief was before his appointment, the bank’s Executive Director, Finance & Strategy, a role he has served in since May 2012. He will replace current CEO, Yemi Adeola, who has notified the Board of Directors of […]

BUSINESS

Aliko Dangote named Africa’s richest for 7th year

Daily Dispatch January 12, 2018

Aliko Dangote, President and Chief Executive of Dangote Industries Limited, has been adjudged the richest man in Africa by Forbes. Mr. Dangote, ranked Africa’s richest with a net worth that Forbes pegged at $12.2 billion, is being so declared for the seventh year running. The Nigerian billionaire’s net worth recorded an increase of about $100 […]

BUSINESS

NNPC assures of adequate petrol supply

Daily Dispatch January 11, 2018

The Nigerian National Petroleum Corporation (NNPC) has advised motorist against panic buying, saying it has adequate supply of the product in the country. In a statement by the Group General Manager, Group Public Affairs division Mr Ndu Ughamadu, on Thursday in Abuja,it said the corporation had product that would last for over 30 days. “NNPC wishes […]