BUSINESS

Three Million Nigerians Lost N18bn to MMM – NDIC

Daily Dispatch March 2, 2017

The Nigerian Deposit Insurance Corporation (NDIC) has said about three million Nigerians lost N18 billion in the Phonzi scheme, popularly called Mavrodi Mundial Movement (MMM). The Managing Director of the Corporation, Alhaji Umaru Ibrahim, stated while speaking at the ongoing 38th Kaduna

BUSINESS

PAN backs ban on import of vehicles through land borders

Daily Dispatch March 2, 2017

Peugeot Automobile Nigeria (PAN) says federal government’s sealing land borders to prevent car imports will lead to several gains in Nigeria’s economy, stimulating local assemblage and creating jobs. General Manager Strategy and Marketing, PAN, Bawo Omagbese stressed this when the Chairman, House Committee on Customs, Rufai Chanchangi and Chairman House of

BUSINESS

BREAKING: Senate investigates Customs’ raid of shops in Ogun state

Daily Dispatch March 2, 2017

The Nigerian Senate has resolved to probe the Nigerian Customs Service (NCS) over the raiding and carting away of goods in shops at a rice market in Sango-Otta, Ogun state. The Senate came to the decision after a brief debate over a motion moved by Senator Gholahan Dada under Order 42 & 52, over the […]

BUSINESS

Bayelsa backs proposed liberalisation of modular refineries

Daily Dispatch March 2, 2017

The Bayelsa Government on Thursday expressed its support to the Federal Government’s proposed liberalisation of modular refineries to drive the economic development of the Niger Delta region. Acting President Yemi Osinbajo had during his ongoing tour of oil communities announced plans to establish modular refineries within oil-bearing communities in the region. The Special

BUSINESS

Oil price rises as OPEC sticks to output pledges

Daily Dispatch March 1, 2017

Oil reversed earlier losses on Wednesday, March 1, as investors took heart from strict OPEC compliance with its pledge to cut output. The Organisation of the Petroleum Exporting Countries reduced its oil output for a second month in February, a media survey found, showing the exporter group has boosted already strong compliance to around 94 […]

BUSINESS

Banning Motorcycles, Tricycles Will Affect The Nation’s Economy-FG

Daily Dispatch March 1, 2017

The Minister of Transportation, Rotimi Amaechi, has said motorcycles and tricycles should not be banned nationwide because doing so would affect the nation’s economy negatively. Amaechi said this on Tuesday in Abuja at the celebration of the national day of Amalgamated Commercial Tricycle and Motorcycle Owners, Repairers and Riders Association of Nigeria. The minister