BUSINESS

Telecoms sector VAT collection done for free – FIRS

Daily Dispatch June 7, 2017

The Chairman, Federal Inland Revenue Service, Tunde Fowler, has dismissed as fantasy the claim that the Service awarded huge contracts to a young company: Active Solution Integrated Synergy, without following procurement process. The FIRS’ vote for the company, Fowler told the Ad-Hoc committee

BUSINESS

CBN to sell dollars to airlines, fuel importers

Daily Dispatch June 7, 2017

Nigeria’s manufacturers, airlines, fuel importers and agriculture businesses will be able to buy dollars at a special market intervention to clear a backlog of foreign exchange obligations now due, the central bank said on Wednesday. The central bank plans to settle the bids through a combination of spot and short-term forward deals, currency traders said, […]

BUSINESS

Shell lifts force majeure on Forcados oil – spokeswoman

Daily Dispatch June 7, 2017

Royal Dutch Shell lifted force majeure on exports of Nigeria’s Forcados crude oil, a spokeswoman said on Wednesday, bringing all of the West African country’s oil exports fully online for the first time in 16 months. The resumption of Forcados, which typically exports 200,000-240,000 barrels per day (bpd), bringing Nigeria to around the 1.8 million-bpd […]

BUSINESS

Why price of local rice is high

Daily Dispatch June 7, 2017

Rice millers in Kano State have attributed the high cost of locally-produced rice to the increasing cost of production of the commodity in the country. Mr Liman Muhammed, spokesperson, Medium and Small Scale Rice Millers Association in the state, said this during a visit to some rice mills in Kano on Wednesday. The price of […]

BUSINESS

Doctor sues FCMB for allegedly issuing fake Euro

Daily Dispatch June 6, 2017

An Ibadan-based medical doctor, Olutunde Oni, has dragged First City Monument Bank (FCMB) before an Oyo state High Court sitting in Ibadan over an alleged issuance of counterfeit Euro currency to him. In a suit numbered I/134/2017, Oni alleged that the bank through Folorunso Abisoye, sometime in 2015 through its Bodija, Ibadan branch issued him […]

BUSINESS

Poor Services: Senate urges NCC to sanction telecom companies

Daily Dispatch June 6, 2017

The Senate on Tuesday rose in condemnation of poor services rendered by Mobile Global Service GSM network operators in the country. In a motion sponsored by Senator Andy Uba (APC), representing Anambra South Senatorial district, he expressed concern over increasing rate of dropped calls and other unwholesome practices, saying GSM operators in Nigeria have robbed […]