LAGOS JUNE 20TH (NEWSRANGERS)-Nigeria lost N851.84 billion ($2.78 billion) to oil theft and pipeline sabotage in 2019. This was disclosed by the Nigerian Extractive Industry Transparency Initiative (NEITI) latest oil and gas industry audit report. The agency stated that it arrived at the estimate after using an average price of $65.61 per barrel and an average…
LAGOS JUNE 17TH (NEWSRANGERS)-Subscribers of MTN, the largest telecom provider in Nigeria, may soon face service disruption in the West African nation, according to a notice seen by some journalists and outlets. A rise in insecurity challenges in Nigeria is likely to disrupt MTN’s service, Reuters and others said, citing an alert from customer service…
LAGOS JUNE 15TH (NEWSRANGERS)-The usual high patronage of Point of Sale (PoS) services in the country is in reverse trend as bank customers now resort to Automated Teller Machines (ATM) and other channels like online banking, Unstructured Supplementary Service Data (USSD), among others. In the heat of COVID-19, last year, banks and other financial companies…
LAGOS JUNE 15TH (NEWSRANGERS)-The value of the naira to the dollar fell from 196.99 in December 2015 to 410 in April 2021, reflecting a 51.95 per cent decline despite the various foreign exchange policies introduced by the Central Bank of Nigeria to strengthen the currency. According to a monthly document obtained from the CBN’s website,…
LAGOS JUNE 15TH (NEWSRANGERS)-Rotimi Amaechi, minister of transportation, says he is not aware of the suspension of Hadiza Bala Usman as the managing director of Nigerian Ports Authority (NPA). On May 5, President Muhammadu Buhari approved Usman’s suspension following a recommendation by Amaechi. After Usman’s suspension, Amaechi inaugurated an 11-member investigative panel to probe NPA over all contracts awarded…
LAGOS JUNE 15TH (NEWSRANGERS)-If there was ever a time Nigeria could have taken off, it was in 1999. Democracy had been restored, with its economy reopening after decades of mismanagement and plunder under military dictatorships. Tomi Davies, a systems analyst, was one of thousands of Nigerians who came home to help rebuild the country. After…
LAGOS JUNE 14TH (NEWSRANGERS)-Nigeria loses not less than N100b every year in tax related fraud, experts at a conference organised by the country’s leading anti-corruption group said at the weekend. Speaking at the 25th Anti-corruption Situation Room organised by HEDA Resource Centre held at Sheraton Hotel on Saturday in commemoration of the June 12, 1993…
LAGOS JUNE 14TH (NEWSRANGERS)-Report has emerged that no fewer that eighty four ships were attacked and one hundred and thirty seafarers abduct by sea pirates in the Gulf of Guinea in 2020. According to the International Maritime Bureau, there were nearly 50 percent increase in kidnapping for ransom between 2018 and 2019, and around 10…