BUSINESS

Failed loan: Mubadala of Dubai pulls out of Etisalat-CBN

Daily Dispatch June 24, 2017

The Central Bank of Nigeria (CBN) has disclosed that Dubai-based investment fund – Mubadala – has pulled out of Etisalat Nigeria after the telecommunications firm failed on Friday to renegotiate a $1.2 billion loan taken out four years ago with 13 Nigerian banks. The CBN made this revelation,

BUSINESS

Indonesia firm set to build 10,000 barrels per day refinery in Nigeria

Daily Dispatch June 22, 2017

An Indonesian firm, PT Intim Perkasa Nigeria Ltd, a subsidiary of PT Intim Perkasa, Indonesia, has indicated interest to build a refinery in Nigeria. Daily Trust reports that Mr. Adi Hartadi, the Head of Investor Relations of PTPP (Persero) Tbk, partners to PT Intim Perkasa Nigeria Ltd, who disclosed this in Abuja during a business […]

BUSINESS

Breaking: Etisalat Nigeria loan restructuring talks fail, Access Bank, others take over

Daily Dispatch June 20, 2017

The loan restructuring talks embarked upon by Emerging Markets Telecommunication Services Limited, also known as Etisalat Nigeria, has collapsed. This has led to the take-over of the company by Access Bank Plc and others that gave the company loans totalling N541 billion. Etisalat, with its parent company in the United Arab Emirate, on Tuesday confirmed […]

BUSINESS

Drought: AfDB to deploy $20b to agric till 2017

Daily Dispatch June 18, 2017

The African Development Bank plans to deploy $1.1 billion with approval of its board to address drought-related crisis and ensure that “drought does not lead to famine,” says the bank’s president Akinwumi Adesina. He raised concern about up 20 million people facing food insecurity and malnutrition across drought-affected areas. “The Bank has committed $24 billion […]

BUSINESS

FIRS lists those it presently registers for TIN

Daily Dispatch June 18, 2017

Wahab Gbadamosi, the Public Relations Officer, Federal Inland Revenue Service says the service is presently registers only corporate taxpayers for issuance of Tax Identification Number. Gbadamosi, who said this in an interview with the News Agency of Nigeria in Abuja on Saturday, said the service no longer registers individuals for issuance of TIN. He said […]

BUSINESS

SALES OF LAKE RICE RESUMES AT APPROVED RETAIL OUTLETS – SUARAU

Daily Dispatch June 17, 2017

Lagos State Commissioner for Agriculture, Mr Oluwatoyin Surau has said that the sales of Lake Rice will resume at designated approved retail outlets across the State on Monday 19th June, 2017. Suarau who made this known over the weekend while reviewing modalities for distribution of the product across the State explained that the sale of the […]