LAGOS JULY 15TH (NEWSRANGERS)-Oil marketers yesterday unilaterally raised the pump price of petrol from N165 per litre to N185 in disregard to the Federal Government approved pump price of N165 per litre. The hike which came a day after Major Oil Marketers Association of Nigeria, MOMAN, said the current price was no longer realistic saw…
LAGOS JULY 13TH (NEWSRANGERS)-Bayelsa State Government has called for better collaboration with The Shell Petroleum Development Company of Nigeria Limited (SPDC) to enable more investments in the state, and to give more value to people of Bayelsa. The state’s Deputy Governor, Lawrence Ewhrudjakpo, made the call during a business meeting with the management of SPDC…
LAGOS JULY 7TH (NEWSRANGERS)-Nigeria’s currency fell to the lowest on record after traders adjusted prices to reflect the rate Central Bank of Nigeria sold the currency amid a lack of dollar supply in the authorized foreign-exchange market. The naira retreated 1.6% to 426.26 a dollar as of 3.30 p.m. local time on the investors and…
LAGOS JULY 7TH (NEWSRANGERS)-Ebonyi State Government has shut the Guarantee Trust Bank (GTB), in Abakaliki, over the bank’s inability to pay what is believed to be over N100 million accumulated tax. Task force team from the State Board of Internal Revenue Service stormed the bank in the early hours of July 5th and ordered its…
LAGOS JULY 6TH (NEWSRANGERS)-The Secretary-General of the Organisation of Petroleum Exporting Countries, Muhammad Barkindo, is dead. Barkindo died late Tuesday. The Group Managing Director of the Nigerian National Petroleum Corporation, Mele Kyari, announced Barkindo’s death in a tweeted posted to his verified Twitter handle, @MKKyari, in the early hours of Wednesday. “We lost our esteemed…
LAGOS JULY 1ST (NEWSRANGERS)-No fewer than 40 bakeries have closed shop in the Federal Capital Territory (FCT), over cost of production and multiple taxation and hike in electricity tariff, among others. The News Agency of Nigeria (NAN) reports that some of the bakeries visited were not opened for business due to operational cost and multiple…
LAGOS JUNE 30TH (NEWSRANGERS)-MoMo Payment Service Bank, the new financial services subsidiary of telecoms company MTN Nigeria, suffered a breach in the last week of May just days after launch, reportedly losing 22 billion naira ($53 million.) Nigerian payment service banks operate with a mobile money license reserved for non-bank institutions. They offer deposits and…
LAGOS JUNE 19TH (NEWSRANGERS)-Experts in the nations financial sector have identified gaps in the set objectives by the Central Bank of Nigeria, CBN, to significantly reduce the number and percentage of adult Nigerians who are excluded from the formal Financial System of the country. Speaking at the inaugural conference of Oriental News Nigeria with theme…