BUSINESS

Forex Sales: Emefiele Summoned By Rep

Daily Dispatch February 6, 2017

The House of Representatives on Monday summoned Central Bank of Nigeria Governor, Mr. Godwin Emefiele, over alleged sale of foreign exchange to International Oil Companies. Emefiele’s invitation by the House’s Ad hoc Committee on the Review of Pump Price of Petrol followed the committee’s

BUSINESS

Kaduna Electric To Review Retrench Staff-NUEE

Daily Dispatch February 6, 2017

The Kaduna Electricity Distribution Company on Monday agreed to review the retrenchment of its 530 staff within one month. The Assistant General Secretary of the National Union of Electricity Employee, North West, Moses Amedu, on Monday in Kaduna said the development followed the meeting of the union members with the Management of the power distribution […]

BUSINESS

Toyota, Suzuki Courtship Intensifies As Partnership Talks Begin

Daily Dispatch February 6, 2017

Toyota Motor Corp (7203.T) and Suzuki Motor Corp (7269.T) said on Monday they plan to trade expertise in parts supplies and R&D, in an agreement that will aid expansion in emerging markets and help them cope with rapid technological sophistication. Any deal could see Toyota benefit from a supply chain that has helped Suzuki dominate […]

BUSINESS

Sanction on Iran: Oil Rises To $57.01

Daily Dispatch February 4, 2017

Oil prices was up on Friday on news that U.S. President Donald Trump could be set to impose new sanctions on multiple Iranian entities, raising geopolitical tensions between the two nations. Comments by Russian energy minister Alexander Novak that oil producers had cut their output in accordance with a pact agreed in December also helped […]

BUSINESS

Power Sector Reform: FG Secures $155m AFDB Loan

Daily Dispatch February 4, 2017

The Africa Development Bank says it has approved a loan of $155 million for Economic and Power Sector Reform Programme in Nigeria. A statement by Fatimah Alkali, Senior Communications Officer of the AfDB, in Abuja on Friday said the loan became effective on October 19, 2012. Recent media reports had indicated that there might be […]

BUSINESS LEAD STORY 1

Fraudsters now sell crude oil inside Transcorp Hilton – NNPC

Daily Dispatch February 2, 2017

Nigerian National Petroleum Corporation (NNPC) has warned the public to beware of fraudsters who parade themselves as representatives of the corporation to sell crude oil to them. NNPC said the scam had become alarming to the extent that people were making oil and gas transactions in their rooms in “Nicon Hilton” (now Transcorp, a popular […]