Business | NEWS RANGERS

Relief As Nigeria Apex Bank Slashes Customs Exchange Rate By 3%

LAGOS MARCH 28TH (NEWSRANGERS)-On Tuesday, trades had been consummated between N1,486 and N1,300 to the dollar. At the end of yesterday’s trading, a total volume of $245.58 million had been traded on the NAFEM. LEADERSHIP reports that the recent slash came barely 48 hours after the apex regulatory bank slashed the Customs exchange rate from […]

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

Central Bank Of Nigeria Directs Bureau de Change To Sell Dollar At N1,269

LAGOS MARCH 26TH (NEWSRANGERS)-The Central Bank of Nigeria has disclosed that it will be allocating $10,000 to each Bureau de Change operator at N1,251/$. This was contained in a circular made available to The PUNCH and signed by the bank’s Director, Trade and Exchange Department, Dr Hassan Mahmud on Monday. The apex bank directed each […]

Mar 26 2024 | Posted in Business,National | Read More »

Detained Binance Executive Nadeem Anjarwalla Escapes From Custody In Nigeria

LAGOS MARCH 26TH (NEWSRANGERS)-An executive of the cryptocurrency firm Binance has escaped from custody in Nigeria, the authorities there say. Nadeem Anjarwalla, a British-Kenyan dual national, was arrested in February with his US colleague Tigran Gambaryan. Their detention came as the Nigerian authorities investigated alleged wrongdoing by Binance. Nigeria said that Mr Anjarwalla fled the […]

Mar 26 2024 | Posted in Business,International,National | Read More »

How Customs Officers Escape From Being Set Ablaze By Smugglers

LAGOS MARCH 24TH (NEWSRANGERS)-Following the unwavering efforts of the Nigeria Customs Service Officers for effective border management and to suppress smuggling activities at the nation’s border, the Adamawa/Taraba Command officers, on Sunday, March 17, 2024, chased down smugglers on the Mubi-Sahuda road to prevent smuggling at the territorial borders. According to the Statement by the […]

Mar 24 2024 | Posted in Business,National | Read More »

Food Prices In Sanwo-Olu’s Subsidised Market Higher Than Actual Market – Lagos Residents Cry Out

LAGOS MARCH 21ST (NEWSRANGERS)-Some residents of Lagos State have claimed that the food items being sold at the discounted market recently launched by the state government are actually expensive in comparison to the actual market prices. Recall that Lagos State Governor, Babajide Sanwo-Olu had earlier stated that the “Ounje Eko” food markets would sell food […]

Mar 21 2024 | Posted in Business,National | Read More »

Dangote, MTN, Others Lose N1.7tn To Naira Depreciation In 2023

LAGOS MARCH 21ST (NEWSRANGERS)-Dangote Group, Nestle Nigeria and MTN Nigeria, alongside four of Nigeria’s most capitalised companies, lost N1.7tn to the depreciation of the naira in 2023. According to an analysis of their financial statements published on the website of the Nigerian Exchange Group, the listed firms incurred significant losses in the 2023 financial year, […]

Mar 21 2024 | Posted in Business,National | Read More »

SEC Proposes N150m Registration Fee For Cryto Firm In Nigeria

LAGOS MARCH 20TH (NEWSRANGERS)-Nigeria’s securities watchdog proposed a 400% increase to registration fees for crypto firms as the country cracks down on the sector, according to a notice published Friday. The proposed amendments to the rules for crypto issuers, exchanges and custody platforms include increases to all supervision fees. Instead of a 100,000 naira ($64) […]

Mar 20 2024 | Posted in Business,National | Read More »

Internet Outages In S/Africa, Nigeria, Ghana, Liberia, Ivory Coast Traced To Faulty Undersea Cable

LAGOS MARCH 16TH (NEWSRANGERS)-Major internet disruption has been reported in various countries across Africa. Widespread outages were reported on Thursday in countries including South Africa, Nigeria, Ivory Coast, Liberia, Benin, Ghana and Burkina Faso. Since then, services have largely been restored in Liberia and South Africa. The cause of the cable failures was not immediately […]

Mar 16 2024 | Posted in Business,International,National | Read More »

Mobereola Takes Over From Jamoh As New NIMASA Director-General

LAGOS MARCH 14TH (NEWSRANGERS)-President Bola Tinubu has approved the appointment of Dr. Dayo Mobereola to serve as the Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA) for a renewable term of four years. The appointment follows the exit of Mr. Bashir Jamoh, whose tenure recently expired. Dr. Mobereola holds a Ph.D, and an […]

Mar 14 2024 | Posted in Business,National | Read More »

Naira Crisis: Nigeria Asks Binance To Submit List Of Top 100 Users, Transaction History

LAGOS MARCH 14TH (NEWSRANGERS)-Nigeria wants Binance to give information regarding its top 100 users in the country and all transaction history spanning the past six months, the Financial Times reported on Tuesday. The demand comes as Nigeria’s detention of Binance’s compliance head and Africa region manager moves into a third week. Binance’s Tigran Gambaryan and […]