JACK OF ALL TRADES

Recession: Dangote Threatens To Stop Tomato Paste Production. From Magnus Eze and Adanna Nnamani, Abuja Few days after Erisco Foods Limited threatened to shut down its tomato factory, Dangote Industries Limited yesterday disclosed plans to stop tomato paste production because of the harsh operating environment that gives advantage to imported production. Group Vice President of Dangote Industries Limited, Alhaji Sani Dangote disclosed that the group recently stopped tomato paste production because of the harsh operating environment that gives advantage to imported products. He also said the company would not be able to pay farmers from whom they get the raw materials unless government did something urgently. Although, the Central Bank of Nigeria (CBN) said it would not give dollars, Dangote noted that countries like China give their people huge support and waivers that allow them access to finance that they do not really feel the forex crunch being faced by their Nigerian competit...

Why you need a credit card Credit cards are not as common in Nigeria as debit cards. In fact, not many people have heard about credit card. Only a few people know the difference between a credit card and a debit card. Although both the credit card and the debit card are referred to as payment card, there are certain things that differentiate them.  Even though they look alike, they do not always serve the same purpose at all times. While a customer has to fund his bank account to make use of a debit card, the customer pays for transactions made with credit cards at the end of the month. In other words, you don’t need to fund your account to make use of your credit card. All your bank does is to credit your bank account with a certain amount you have agreed to. A customer can then go ahead to spend. At the end of the month, he or she is expected to pay before a new amount is credited into his/her bank account. Although credit cards get a lot of bad press when it comes to ...