BUSINESS

BREAKING: CBN orders commercial banks to sell dollar at N360

Daily Dispatch March 27, 2017

The Central Bank of Nigeria, CBN, has ordered commercial banks to immediately commence the sale of foreign exchange to their customers at N360 to the dollar.  Spokesperson of the apex bank, Isaac Okoroafor made the disclosure in a statement he issued on Monday. According to Okoroafor, all

BUSINESS

FG may transform illegal refiners to shareholders of proposed modular refineries

Daily Dispatch March 27, 2017

Local “illegal” refiners in the oil-producing communities maybe co-opted as shareholders in the Federal Government’s proposed modular refineries, a Presidency source has disclosed. The source, who preferred to remain anonymous, said the Presidency and the Nigeria Sovereign Investment Agency are collaborating to realize the plan. This will be in fulfilment of promises made

BUSINESS

Expert Urges FG To Build Food Storage Facilities To Stabilise Food Prices

Daily Dispatch March 24, 2017

An Agricultural expert, Mr Richard Ogundele, on Friday called on the Federal Government to build food storage facilities across the country so as to reduce post-harvest losses and stabilise food prices. He told the News Agency of Nigeria (NAN) in Lagos that the call became imperative because of the huge investment of the government on […]

BUSINESS

Nigeria’s Economic Structure Obstructs Development – Ogunseye

Daily Dispatch March 24, 2017

A Development Expert Bolaji Ogunseye, has said that the way Nigeria is structured will not bring economic development or get the country out of recession. He noted that there is no synergy between the Ministry of Finance and the Central Bank of Nigeria (CBN). Speaking as a guest on Channels Television’s breakfast programme, Sunrise Daily, […]

BUSINESS

We pay N1.8bn to over 44,000 retirees monthly – IBTC

Daily Dispatch March 23, 2017

The Stanbic IBTC Pension Managers Limited says it pays approximately N1.8 billion in retirement benefit to over 44,000 retirees monthly. Mr Oladele Sotubo, the Executive Director (Investment) in Stanbic IBTC Pension, made this known during the first edition of the Employers Forum of Stanbic IBTC Pension Managers Limited held on Thursday in Benin. Sotubo said […]

BUSINESS

Union: Picketing Illegal-says Arik

Daily Dispatch March 23, 2017

Arik Air in a swift reaction said the action of the unions is illegal because the motive behind it is unclear, noting that since the airline was taken over by AMCON on February 6, salaries are being paid regularly. A statement by the airline said, “It has come to the attention of the Arik Management, […]