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…
LAGOS JUNE 17TH (NEWSRANGERS)-A major air accident was averted when an Overland Airways aircraft made an emergency landing at the Murtala Muhammad International Airport, Lagos, from Ilorin International Airport in Kwara State. The incident happened on Wednesday night when one of the engines caught fire mid-air as the plane was approaching the airport. 33 passengers…
LAGOS JUNE 14TH (NEWSRANGERS)-Nigeria has announced plans to regulate internet companies like Facebook, WhatsApp, Instagram (all owned by Meta), Twitter, Google and TikTok in a draft shared by the country’s internet regulator. This information, released by the National Information Technology Development Agency (NITDA) on Monday, can be viewed on its website and Twitter page. Just…
LAGOS JUNE 11TH (NEWSRANGERS)-Operatives of the Economic and Financial Crimes Commission (EFCC) stormed the head office of NOVA Merchant Bank Limited to arrest the Chairman of the institution, Phillips Oduoza and its Managing Director/Chief Executive Officer, Nath Ude, SaharaReporters has reported. NOVA Bank is an investment-grade merchant bank in Nigeria which offers an integrated suite…