LAGOS NOVEMBER 10TH (NEWSRANGERS)-Judge Rebukes Two Nigerians Abdulrasheed Maina, a former Nigerian government official who ran a defunct pension reform department, has been convicted of stealing 2 billion naira ($4.8 million) belonging to pensioners after a two-year trial. Okon Abang, a judge at a federal high court in Abuja, sentenced Maina to eight years in…
LAGOS NOVEMBER 2ND (NEWSRANGERS)-The lingering shortage of foreign exchange in Nigeria has forced the naira to crash against the United States dollar on the air ticket pricing template of the International Air Transport Association, the Switzerland-based trade body representing over 290 global airlines. As a result, airfares on Nigeria routes which are priced in naira…
LAGOS NOVEMBER 2ND (NEWSRANGERS)-The Nigeria Customs Service (NCS) has said that it is ready to commence the collection of import duty with the e-naira recently introduced by the Central Bank of Nigeria (CBN). The National Deputy Public Relations Officer of Customs, Mr. Timi Bomodi, said that NCS is ready to embrace the e-naira on import…
LAGOS OCTOBER 29TH (NEWSRANGERS)-It is not time for adieu yet, but Nigeria’s central bank digital currency—the first such attempt in Africa—has not gotten off to a great start. The eNaira, as the digital currency is called, was initially scheduled to launch on Oct. 1 this year. That was postponed with the excuse that the launch…
LAGOS OCTOBER 28TH (NEWSRANGERS)-Suspected smugglers on Tuesday attacked operatives of the Nigeria Customs Service in Fagbohun village, Idogo/Ipaja, in the Yewa South Local Government Area of Ogun State. PUNCH Metro learnt that while one of the officers was killed, another was missing. The incident happened when the officers, who were attached to the Federal Operations…
World Bank Blacklists 18 Nigerian Companies, Individuals For Corruption –Report LAGOS OCTOBER 25TH (NEWSRANGERS)-The World Bank has blacklisted 18 Nigerian individuals and firms for engaging in corrupt practices, fraud and collusive practices in its 2021 fiscal year 2021, a new report has revealed. A list of debarred individuals and firms was presented in a new…
LAGOS OCTOBER 25TH (NEWSRANGERS)-The Federal Operation Unit, Zone A of the Nigeria Customs Service (NCS) over the weekend revealed that two import containers cleared from APM Terminals to a bonded terminal in Lagos are currently missing and their whereabouts unknown. Addressing selected journalists in Lagos at the weekend, acting Customs Area Comptroller of the Federal…
LAGOS OCTOBER 23RD (NEWSRANGERS)-FBN Holdings Plc Friday denied claims by online media that the Nigerian business mogul, Femi Otedola has acquired majority stake in the bank. In a statement signed by the company secretary, Seye Kosoko obtained from Nigerian Exchange Limited(NGX), the bank is yet to receive any notification from the individual mentioned on such…
