BUSINESS

Nigeria sells 5 and 10-year bonds at flat rate of 15 percent – DMO

Daily Dispatch October 26, 2017

Nigeria has sold a five and 10-year debt at a flat rate of 15 percent at an auction on Wednesday to curtail borrowing costs as inflation declines, traders said on Thursday. The Debt Management Office (DMO) raised a total of 121.13 billion naira, more than the 100 billion naira it wanted to

BUSINESS

US pledges more investments in Nigeria

Daily Dispatch October 25, 2017

The Minister of State for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu, on Tuesday held a meeting with the Secretary of Energy of the United States of America, Rick Perry, at the sidelines of the 24th Africa Oil Week currently holding in Cape Town, South Africa as part of his ongoing investment focused international Oil and […]

BUSINESS

Oil price moves towards $59

Daily Dispatch October 25, 2017

Asian shares trod water in early trade on Wednesday while U.S. Treasury yields and the dollar got a lift following a report Republican senators were leaning towards John Taylor to be the next Federal Reserve chief. Crude oil futures caught their breath after rising more than one percent overnight after top exporter Saudi Arabia said […]

BUSINESS

No need for forensic audit – Oando tells SEC

Daily Dispatch October 25, 2017

The management of Oando Plc says it does not see the need for a forensic audit by Securities Exchange Commission (SEC). In a 9-page statement released by the company and signed by Ayotola Jagun, chief compliance officer and company secretary, Oando said it would make amends in areas where it was wrong. SEC had accused […]

BUSINESS

Dangote refinery is enough to meet local needs- Kachikwu

Daily Dispatch October 25, 2017

Dr. Emmanuel Ibe Kachikwu, minister of state for petroleum, says the 650,000 barrels per day capacity refinery being constructed by Aliko Dangote, “should be enough to meet local needs”. Kachikwu made this statement while speaking at the ongoing 24th Africa Oil Week in Cape Town, South Africa. “That should be enough to meet local needs,” […]

BUSINESS

Oando fights back, obtains court order against SEC

Daily Dispatch October 25, 2017

n a decisive response to the technical suspension of the trading of its shares and proposed forensic audit of the company’s affairs, Oando Plc has fought back, obtaining an ex-parte order from the Federal High Court, to restrain the Nigerian Stock Exchange (NSE) and any other party working on their behalf from effecting the directive […]