BUSINESS

Labour threatens to shut down Kenya Airways Nigerian operations

Daily Dispatch September 26, 2017

Labour union in Nigeria’s aviation sector are threatening to shut down Kenya Airways operations in the country following the insertion of ‘performance based leave clause’ for its Nigerian staff. The Sun. The airline in its new policy for the country’s workers said that payment of leave bonuses

BUSINESS

CBN not over funding FG -Emefiele

Daily Dispatch September 26, 2017

The Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele Tuesday assured anxious Nigerians that the apex bank was neither over-funding the Federal government or was it operationally strained in anyway. Speaking at the press briefing to announce the decisions taken by its Monetary Policy Committee (MPC) in Abuja, Emefiele said the CBN has and […]

BUSINESS

Dangote to Invest $4.6Bn In 4 Agricultural Sectors

Daily Dispatch September 26, 2017

Alhaji Aliko Dangote, the Chief Executive Officer, Dangote Group, has said that the company would invest 4.6 billion dollars in nation’s agricultural sector in the next five years. He listed sugar, rice, tomatoes and oil palm as some of the agricultural sectors where the monies would be invested. Dangote said this at the 6th edition […]

BUSINESS

World’s Biggest Diamond Sells For $53m

Daily Dispatch September 26, 2017

British jeweller Graff said Tuesday it has purchased the world’s largest uncut diamond — roughly the size of a tennis ball — for $53 million (44.5 million euros) or $47,777 per carat. Canadian miner Lucara Diamond sold to Graff the 1,109-carat gem, the Lesedi La Rona, which was found in Botswana’s Karowe mine in November  […]

BUSINESS

13 tank farms, filling stations on sale over $600m loans

Daily Dispatch September 25, 2017

Banks have confiscated and placed on sale 13 tank farms, scores of filling stations, landed properties and exotic cars seized as collateral from debtors in the downstream sector, it was gathered at the weekend, as recovery of $600 million loans in the sub-sector takes a new twist. Head of Energy, Ecobank Plc., Mr. Dolapo Oni, […]

BUSINESS

CBN: 20,684 assets valued at N392bn on collateral registry

Daily Dispatch September 25, 2017

The Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, has revealed that movable assets valued at N392 billion have been registered on the National Collateral Register (NCR) as at August 24, 2017. According to him, 136 financial institutions, 22 commercial banks, 106 micro-finance banks, one non-bank financial institution, three merchant banks, three development