BUSINESS

Ajaokuta Steel belongs to federal govt – Kayode Fayemi

Daily Dispatch November 17, 2017

The Ministry of Mines and Steel Development has debunked the media reports, credited to one Dr S.O. Nwanbuokei, a director of Global Steel Holdings Limited (GSHL) that the protracted litigation surrounding the ownership of the Ajaokuta Steel Complex had not been resolved. The ministry said

BUSINESS

House of Reps threatens to arrest ex-Etisalat chief Hakeem Belo-Osagie for refusing to honour invitations

Daily Dispatch November 17, 2017

The House of Representatives ad-hoc panel has threatened to issue an arrest warrant against Chairman of the defunct Etisalat Nigeria, Hakeem Belo-Osagie, and the Chief Executive Officer (CEO) of Airtel Nigeria, for failing to appear before it to answer charges relating to their operations. The panel chairman, Ahmed Abu, stated this in Abuja, on Thursday, […]

BUSINESS

TCN energises second Asaba-Benin 330kv transmission line

Daily Dispatch November 16, 2017

The Transmission Company of Nigeria (TCN) said it had successfully energised the second Asaba-Benin 330kv power transmission line. A statement by TCN General Manager (Public Affairs), Mrs Ndidi Mbah, in Abuja on Thursday said the line was energised on Nov. 3. TCN said the newly energised Asaba-Benin transmission line would provide alternative source of energy […]

BUSINESS

Cybercriminals turning fake news into profitable business – Report

Daily Dispatch November 16, 2017

Cybercriminals have latched onto the notion of “fake news” and turned it into a profitable business model, with services starting at under $10, security researchers said Thursday. The online security firm Digital Shadows released a report highlighting services aimed at creating bogus media websites, fake reviews and social media “bots” or automated accounts to promote […]

BUSINESS

Oil rises amidst expected extension of OPEC cuts

Daily Dispatch November 16, 2017

Oil markets edged up on Thursday as expectations that OPEC will extend production cuts at a meeting at the end of this month outweighed rising U.S. crude production and inventories. Brent crude futures, the international benchmark for oil prices, were at $62.06 per barrel at 0742 GMT, up 19 cents, or 0.3 per cent, from […]

BUSINESS

Court revokes interim forfeiture order on accounts without BVN

Daily Dispatch November 16, 2017

The interim forfeiture order placed on bank accounts without bank verification number (BVN) has been revoked after the federal high court in Abuja modified the order given on October 17. The federal government had obtained a court order directing 19 commercial banks to freeze accounts without BVN and ultimately forfeit the funds in such accounts. PUNCH reports that […]