Business | NEWS RANGERS

Forex Crisis: Naira Drops To N1,420 From N1,290 Against Dollar In 24 Hours

LAGOS MAY 6TH (NEWSRANGERS)-The Naira depreciated by N130 against the United States dollar at the parallel foreign exchange market on Sunday. A Bureau De Change operator, Mistila Dayyabu, disclosed this to the DAILY POST in an interview. He noted that Naira dropped to N1,420 per dollar from N1,290 in less than 48 hours at the […]

May 6 2024 | Posted in Business,National | Read More »

Naira Flotation Was The Biggest Mess Created By Tinubu’s Govt-Dangote

LAGOS MAY 1ST (NEWSRANGERS)-The Chairman of Dangote Industries Limited, Aliko Dangote has described the floating of naira by President Bola Tinubu’s administration as the biggest mess that affected his company and other business owners in 2023. Floating the naira allows market forces to determine its value in relation to other currencies. Dangote said this on […]

May 2 2024 | Posted in Business,National | Read More »

Naira, Argentine Peso Ranked Against 15 Weakest Currencies Performing Poorly Against U.S. Dollar

LAGOS MAY 1ST (NEWSRANGERS)-A recent report by Statisense has ranked the Nigerian Naira and the Argentine Peso among the top 15 weakest currencies against the U.S. dollar, highlighting ongoing economic challenges in both nations. Naija News reports that this revelation follows a considerable depreciation in the value of the Naira. The currency hit a record […]

May 1 2024 | Posted in Business,National | Read More »

Consumer Protection Tribunal Restrains MultiChoice From Increase DStv, Gotv Subscription Rates

LAGOS APRIL 30TH (NEWSRANGERS)-A Competition and Consumer Protection Tribunal sitting in Abuja, on Monday, issued a restraining order on Multi-Choice Nigeria Limited from increasing its tariffs and cost of products and services. Multi-choice had last week announced a price increment across its DStv and GOtv packages effective May 1, 2024. The pay-TV company claimed the […]

Apr 29 2024 | Posted in Business,Entertainment,National | Read More »

CBN Directs Kudo Bank, OPay, Moniepoint, Pampay To Halt Opening Account For New Customers

LAGOS APRIL 30TH (NEWSRANGERS)-Kuda Bank, Moniepoint, OPay and Palmpay have paused account opening for new customers following a directive from the Central Bank of Nigeria. The directive came two days after the EFCC blocked 1,146 bank accounts involved in unauthorised forex dealings. “We’ve temporarily paused new signups on our platform. This means that you’ll […]

Apr 29 2024 | Posted in Business,National | Read More »

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 […]

Apr 17 2024 | Posted in Business,National | Read More »

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 […]

Apr 3 2024 | Posted in Business,National | Read More »

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 […]

Mar 31 2024 | Posted in Business,International,National | Read More »

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) […]

Mar 29 2024 | Posted in Business,National | Read More »

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 […]

Mar 28 2024 | Posted in Business,National | Read More »