LAGOS JUNE 8TH (NEWSRANGERS)-Nigeria’s decision to suspend Twitter indefinitely could backfire for the government and cost the country economically in terms of new investments into its technology sector. The Nigerian government suspended Twitter on June 4. The official press release gave only a vague justification, citing threats to “Nigeria’s corporate existence.” While only a minority…
LAGOS JUNE 7TH (NEWSRANGERS)-The Powerful Pen Media Chapel of Maritime Journalists Association of Nigeria (MAJAN), has concluded plans to examine the much-talked about official launch of the ‘Deep Blue Project’ of Nigerian Maritime Administration and Safety Agency (NIMASA). Already, plans are on top gear for President Muhammadu Buhari to officially flag-off the assets under Integrated…
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…
