BUSINESS

Telecoms Operators Seek Direct FX Allocation From CBN

Daily Dispatch March 11, 2017

The Association of Licensed Telecommunications Operators of Nigeria has called for direct Foreign Exchange allocation for the telecommunications sector. ALTON Chairman, Mr Gbenga Adebayo, in a statement on Saturday, said that the sector deserved to be supported with such allocation from the

BUSINESS

N541.8bn debt: NCC, CBN Halt Etisalat’s Takeover

Daily Dispatch March 11, 2017

The Nigerian Communications Commission and the Central Bank of Nigeria have gotten a reprieve for Etisalat on the loan default crisis facing the company. The Director of Public Affairs of NCC, Mr Tony Ojobo, in a statement on Saturday in Lagos, said that the reprieve came following a meeting convened by CBN and NCC to find […]

BUSINESS

Oshiomhole, Soludo in War of Words Over Misappropriation of Funds As CBN

Daily Dispatch March 11, 2017

Former Edo state governor Adams Oshiomhole and ex-Central Bank of Nigeria (CBN) governor have publicly disagreed over how the Nigerian economy is being managed. The Punch reports that the ‘fight’ occurred at Vanguard’s Economic Discourse in Lagos on Friday, March 10 after Prof. Charles Soludo delivered a keynote address titled ‘The hard facts to rescue […]

BUSINESS

Foreign exchange reserves exceed $30 billion as of March 8 – CBN

Daily Dispatch March 10, 2017

Nigeria’s foreign exchange reserves rose above $30 billion as of March 8 to its highest level since October 2015, the Central Bank of Nigeria (CBN) data showed on Friday. Nigeria’s dollar reserves have increased by 15.02 percent since the start of the year, data showed, but were still far off their peak of $64 billion […]

BUSINESS

World Bank to raise $1.6b to combat hunger in Nigeria, others

Daily Dispatch March 10, 2017

World Bank Group President, Jim Yong-Kim, on Thursday said the bank was working toward raising $1.6 billion to build social protection systems to end food insecurity in sub-Saharan Africa and Yemen. In a statement made available to newsmen by the Head of Communications, World Bank Nigeria in Abuja, Olufunke Olufon, Yong-Kim said about 20 million […]

BUSINESS

FIRS nets N27bn from tax amnesty

Daily Dispatch March 9, 2017

EXECUTIVE chairman of the Federal Inland Revenue Service, FIRS, Tunde Fowler has said the agency realised N27.086 billion from the waiver of tax penalty and interest programme. The programme was introduced to allow defaulters regularise their relationship with the agency. Fowler disclosed this on Tuesday in Abuja during the oversight visit by the House of […]