Category archives for: Business

Despite Naira Gains In Forex Markets, Inflationary Pressures Persist

LAGOS APRIL 17TH (NEWSRANGERS)-As Naira appreciated further against the United States dollar across both the authorised and unauthorised foreign exchange markets on Monday, inflationary pressures persisted across the country. According to market data published on the FMDQ website, naira closed Monday at N1,136.04/$1 against N1,142.38 recorded in the previous market session last Friday. Monday’s gain […]

Dangote Refinery Crashes Diesel Price From N1,700/litre To N1,350/litre

LAGOS APRIL 3RD (NEWSRANGERS)-The pump price of Automotive Gas Oil, popularly called diesel, has dropped from about N1,700/litre which it sold for a few weeks ago, to around N1,350/litre in some locations across the country following the sale of the commodity by the Dangote Petroleum Refinery. It was gathered on Tuesday that the $20bn worth […]

Viral Video Exposes Fake Cola-Cola Production Industry (Watch)  

LAGOS MARCH 31ST (NEWSRANGERS)-A recent viral video has brought attention to the production of counterfeit Coca-Cola, raising concerns about potential health risks associated with these fake products. The video, which surfaced on social media platform X, depicts a scene in a warehouse where a man is observed refilling used Coca-Cola bottles with a concoction from […]

Detained Binance Executive Sues Ribadu,  EFCC

LAGOS MARCH 29TH (NEWSRANGERS)-The detained Binance executive, Tigran Gambaryan, has accused the National Security Adviser, Nuhu Ribadu, and the Economic Financial Crimes Commission of violating his fundamental human rights. Gambaryan, in an originating motion marked: FHC/ABJ/CS/356/24 sought a declaration that his detention and seizure of his international travel passport, contravened Section 35 (1) and (4) […]

Naira Appreciation: Oil Marketers Debunk Rumour Of  Downward Adjustment In Petrol Pump Price

LAGOS MARCH 28TH (NEWSRANGERS)-Petroleum product marketers and other operators in the downstream sector, have denied speculations that pump price of petrol at depot facilities have been adjusted downwards. Also, LEADERSHIP reports that petroleum outlets are still selling at prevailing market prices. Our Correspondent’s check at major depot’s in Lagos indicate that prices have not changed […]

Relief  As Nigeria Apex Bank Slashes Customs Exchange Rate By 3%

LAGOS MARCH 28TH (NEWSRANGERS)-On Tuesday, trades had been consummated between N1,486 and N1,300 to the dollar. At the end of yesterday’s trading, a total volume of $245.58 million had been traded on the NAFEM. LEADERSHIP reports that the recent slash came barely 48 hours after the apex regulatory bank slashed the Customs exchange rate from […]

Central Bank Of Nigeria Directs Bureau de Change  To Sell Dollar At N1,269

LAGOS MARCH 26TH (NEWSRANGERS)-The Central Bank of Nigeria has disclosed that it will be allocating $10,000 to each Bureau de Change operator at N1,251/$. This was contained in a circular made available to The PUNCH and signed by the bank’s Director, Trade and Exchange Department, Dr Hassan Mahmud on Monday. The apex bank directed each […]

Detained Binance Executive Nadeem Anjarwalla Escapes From Custody In Nigeria

LAGOS MARCH 26TH (NEWSRANGERS)-An executive of the cryptocurrency firm Binance has escaped from custody in Nigeria, the authorities there say. Nadeem Anjarwalla, a British-Kenyan dual national, was arrested in February with his US colleague Tigran Gambaryan. Their detention came as the Nigerian authorities investigated alleged wrongdoing by Binance. Nigeria said that Mr Anjarwalla fled the […]

How Customs Officers Escape From Being Set Ablaze By Smugglers

LAGOS MARCH 24TH (NEWSRANGERS)-Following the unwavering efforts of the Nigeria Customs Service Officers for effective border management and to suppress smuggling activities at the nation’s border, the Adamawa/Taraba Command officers, on Sunday, March 17, 2024, chased down smugglers on the Mubi-Sahuda road to prevent smuggling at the territorial borders. According to the Statement by the […]

Food Prices In Sanwo-Olu’s Subsidised Market Higher Than Actual Market – Lagos Residents Cry Out

LAGOS MARCH 21ST (NEWSRANGERS)-Some residents of Lagos State have claimed that the food items being sold at the discounted market recently launched by the state government are actually expensive in comparison to the actual market prices.   Recall that Lagos State Governor, Babajide Sanwo-Olu had earlier stated that the “Ounje Eko” food markets would sell food […]

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