LAGOS JUNE 25TH (NEWSRANGERS)-The collapse in oil prices coupled with the COVID-19 pandemic is expected to plunge the Nigerian economy into a severe economic recession, the worst since the 1980s, according to the latest World Bank Nigeria Development Update (NDU). The report, “Nigeria In Times of COVID-19: Laying Foundations for a Strong Recovery,” estimates that…
LAGOS JUNE 20TH (NEWSRANGERS)-A Chief Magistrates’ Court in Gwagwalada, FCT, on Friday ordered Zenith Bank PLC to reverse payment of 8,541 dollars from the account of one of its customers, Mr Ida Gabriel. Delivering judgment, Magistrate Aliyu Shafa, held the defendant (Zenith Bank Plc) was not able to prove to the court that the said…
LAGOS JUNE 19TH (NEWSRANGERS)-The Presidential Enabling Business Environment Council (PEBEC) has disclosed that it is aiming to ensure that only the Nigerian Customs Service, Nigerian Ports Authority (NPA), and Nigerian Police Force will be at seaports once the Single Window and functional scanners are put in place. PEBEC said as there would be no need…
LAGOS JUNE 19TH (NEWSRANGERS)-Robert Farkas, the founding father of a cryptocurrency agency Centra Tech that raised greater than $25 million from its preliminary coin providing rip-off, pled responsible in a federal courtroom in Manhattan on Tuesday. The official assertion accused Farkas of conspiring to commit securities and wire fraud and ordered a sentence between 70…
LAGOS JUNE 18TH (NEWSRANGERS)-First Bank of Nigeria Limited has announced that one of its staff at its Marina, Lagos branch has tested positive to Coronavirus Disease. This was made known by the Bank in a statement on Tuesday. According to the statement, all staff of the branch have been asked to go on self-isolation and…
LAGOS JUNE 16TH (NEWSRANGERS)-Fraud running into hundreds of millions of naira has been reportedly uncovered in the Lagos State Waste Management Authority. It was gathered that the beneficiaries were some contractors, who engaged street sweepers for the cleaning of Lagos roads. It was learnt that due to the connection of some of the culprits, who…
LAGOS JUNE 12TH (NEWSRANGERS)-Within its first 100 days of introduction, Polaris Bank’s Agency Banking initiative, SurePadi, has serviced over half a million customers impacting directly an estimated two million households across the seven business regions of the Bank nationwide. Beyond the direct impact on customers and households in Nigeria, the sheer volume and value in…
LAGOS JUNE 12TH (NEWSRANGERS)-The Vice President for Agriculture, the Human and Social Development at the African Development Bank (AfDB), Dr. Jennifer Blanke, has resigned her position. The bank’s Communications and External Relations Department made this known in a statement yesterday, saying Blanke’s resignation would take effect July 4, 2020. She was quoted as saying: “I…
