LAGOS JUNE 3RD (NEWSRANGERS)-LEKOIL, the oil and gas exploration and production company with a focus on Nigeria and West Africa, announces that it has terminated the employment contract of its CEO, Mr. Olalekan Akinyanmi, with immediate effect, due to a corporate governance breach. The Company will commence a search for a new CEO and, in…
LAGOS JUNE 2ND (NEWSRANGERS)-Phony companies continue to take advantage of the harsh economic situation in the country to scam people looking to make extra income. Investors in Insha Allahu Asset Management and Investment Limited have been left stranded as the management of the company has closed shop while company CEO Abdulakeem Morendayo is on the…
LAGOS JUNE 2ND (NEWSRANGERS)-The foreign exchange (Forex) market in Nigeria was thrown into a panic mood on Monday when the value of the Naira significantly depreciated against the Pound Sterling at the parallel market. Business Post reports that the Naira lost N10 against the British currency at the unregulated segment of the FX market to…
LAGOS MAY 29TH (NEWSRANGERS)-The Nigerian Electricity Regulatory Commission (NERC) has moved to enforce compensation to electricity consumers for the under-supply of power to their homes and businesses with effect from July. This follows several complaints by energy consumers that the Service-Based Tariff (SBT), which has led to a huge increase in electricity bills paid by…
LAGOS MAY 29TH (NEWSRANGERS)-The Vice Presidential Candidate of the Peoples Democratic Party (PDP) in the 2019 elections, Mr Peter Obi, has given, among others, low volume of export trade in African region, general lack of policies implementation, excessive urge to consume rather than produce, corruption and leadership failure, as the reasons for continued retrogression and…
LAGOS MAY 25TH (NEWSRANGERS)-The House of Representatives Committee on Customs has faulted the plans by the federal government to purchase four new scanners for the Nigeria Customs Service (NCS). The NSC is planning to purchase scanners, while refusing to repair the existing ones. However, the same committee had earlier okayed the purchase of the scanners…
LAGOS MAY 24TH (NEWSRANGERS)-Faced with numerous challenges for the smooth operation and development of barge operation business in the maritime industry, members of Barge Operators Association of Nigeria (BOAN) have called on the Federal Government and regulators of maritime industry to come to their assistance so that they can be able to execute their business…
LAGOS MAY 23RD (NEWSRANGERS)-Director of Sea Empowerment And Research Centre Limited, Francis Uchechukwu Aneziechukwu has commended President Muhammadu Buhari for minimizing the incidents of piracy in the Gulf Guinea by signing of the suppression of piracy and other maritime related bill act into law in 2019. He equally commended Nigeria Maritime And Safety Agency (NIMASA)…