LAGOS APRIL 6TH (NEWSRANGERS)-The lockdown imposed by the Federal Government on Lagos State to curb the spread of the coronavirus (COVID-19) pandemic has taken a toll on the revenue collection of the Nigeria Customs Service (NCS) as major commands in Lagos have recorded a sharp fall in their revenue generation. Findings by SHIPS & PORTS reveal that…
LAGOS APRIL 4TH (NEWSRANGERS)-Nigeria – one of the largest nation across the African continent – has reportedly authorized the arrival of the first Bitcoin ATM to the region. Specifically, Blockstale BTM – the firm that was in charge of finalizing the installing process of the ATM located in the Dazey Lounge and Bar in Lagos…
LAGOS APRIL 2ND(NEWSRANGERS)-Despite the establishment of Pre-Arrival Assessment Report (PAAR) and Automated System for Customs Data plus, plus (ASYCUDA++) designed to facilitate trade and block revenue loss at the ports and borders, one of the biggest challenges facing Nigeria Customs Service (NCS) is lack of compliance by some importers and agents, investigation has revealed. Non-compliance,…
LAGOS APRIL 1ST (NEWSRANGERS)-The Nigerian currency depreciated to its weakest level since February 2017 in the unofficial black market after the country’s central bank cut supply to dealers. The local unit traded at 415 naira per dollar according to abokiFX.com, which collates rates from street-traders in Lagos. In the official spot market, naira traded 386.51…
By Mcanthony Onuoha LAGOS MARCH 31ST (NEWSRANGERS)-Following the exemption of the Nation”s Seaports from the lockdown order by President Muhammadu Buhari, to curb the spread of Covid-19 which has been ravaging countries of the world, a Maritime advocacy group, Maritime Integrity Initiative (MII) has asked for total shutdown of seaports saying that it was of…
LAGOS MARCH 24TH (NEWSRANGERS)-Access Bank Plc has temporarily closed its Ligali Ayorinde branch in Victoria Island, Lagos after a visitor tested positive for coronavirus. “We have confirmed that an individual who visited our Ligali Ayorinde branch on Monday 16th March 2020, has tested positive for coronavirus,” Accessbank said in a statement on Monday. “He was…
LAGOS MARCH 21ST (NEWSRANGERS)-Nigeria has technically devalued the naira at the Investors and Exporters (I&E) trading window from N366.70 to N380.20. A source at the Central Bank of Nigeria, who asked to remain anonymous confirmed the development Friday to THEWILL. The move is expected to sustain foreign portfolio investors’ interest in Nigeria’s financial instruments. Nigeria…
LAGOS MARCH 16TH (NEWSRANGERS)-Zenith Bank Plc has reportedly been given the green light to merge or acquire Union Bank Nigeria Plc. our correspondent got wind of this from a reliable source. We understand talks are currently ongoing between the banks and a tentative arrangement may have been reached to commence due diligence. Zenith Bank is…