BUSINESS

Nigeria Does Not Need IMF Loan-Kemi Adeosun

Daily Dispatch February 21, 2017

The Minister of Finance, Kemi Adeosun, has said that Nigeria does not need loan from world financial body, International Monetary Fund, IMF. Featuring on CNBC Africa, the Minister said the programmes that come with IMF loan are currently being executed by the Nigerian government, and as such,

BUSINESS

Outrage As Indian-Packaged Garri Sells In Nigeria

Daily Dispatch February 21, 2017

Nigerians on Monday expressed outrage after it emerged that Indian-packaged garri was being sold in the country. The garri is packed in a 500g bag, which has the picture of a lady and an inscription, ‘TRS’ (Asia’s Finest Foods) on it, with a price tag of N450. The Executive Director, Natural Nutrient Limited, Sola Adeniyi, […]

BUSINESS

Rolls-Royce Loses $5.7bn To Corruption In Nigeria, Others

Daily Dispatch February 19, 2017

Rolls-Royce has reported £4.6bn ($5.7bn) annual loss largely due to currency depreciation and payment of $808m fine to affected countries where it was involved in corrupt practices. According to a news agency, The Nerve, the motoring company had last month (January) apologised for the corruption case that centred around allegations that the group hired middlemen […]

BUSINESS

Tax evasion: Court Orders Revenue Board To Seal Union Bank Premises

Daily Dispatch February 17, 2017

The Kaduna State Internal Revenue Service on Friday obtained a court warrant to seal the premises of Union Bank Plc in Kaduna over non remittance of N19.3 million. The money is outstanding Pay As You Earn (PAYE) tax liability for 2014. The revenue service had on Feb. 8 dragged the bank before Justice Gideon Kurada […]

BUSINESS

Barclays, Citi Helped South Africa With Forex Trading Probe – Sources

Daily Dispatch February 17, 2017

Barclays Plc (BARC.L) and Citigroup (C.N) approached South African competition regulator with information relating to the alleged rigging of the rand currency’s exchange rate, two sources with direct knowledge of the matter said on Friday. South Africa’s Competition Commission said on Wednesday it had found more than a dozen local and foreign banks colluded to

BUSINESS

Unilever Rejects $143billion Kraft Heinz Bid As Without Merit

Daily Dispatch February 17, 2017

Unilever (ULVR.L) rejected a surprise $143 billion takeover bid from U.S. food company Kraft Heinz Co (KHC.O) on Friday, saying it saw no reason to discuss a deal which it said had no financial or strategic merit. But while Unilever, the maker of Lipton tea and Dove soap, said the $50 per share offer undervalued […]