LAGOS AUGUST 1ST (NEWSRANGERS)-The fledgling mobile money market in Nigeria is about to get a major shake-up. MTN Nigeria, the country’s largest telecoms operator, has been granted a “super agent” license which allows it set up an agent network through which it can provide financial services. It’s the first step in MTN’s plans to finally…
LAGOS JULY 30TH (NEWSRANGERS)-China has commenced the export of used cars popularly known as ‘tokunbo’ to Africa, Asia and Europe, with Nigeria one of the destinations for the first batch of 300 cars. The country’s Ministry of Commerce had, in a statement, announced that it had cleared 10 cities to begin the export of second-hand…
LAGOS JULY 26TH (NEWSRANGERS)-French authorities said on Thursday that a suspiciously low-slung vehicle led Customs officers to seize a collector’s caches of 3,000 grenades and 56kg of munitions. A statement by Budget Minister Gerard Darmanin said the customs officers were on patrol on a road between Paris and the Belgian border near Chimay when they…
LAGOS JULY 24TH (NEWSRANGERS)-The Central Bank of Nigeria (CBN) has issued operating licence to three new banks to operate in the country. The new banks are Titan Trust Bank Limited, TAJ Bank Limited and Globus Bank Limited. According to the apex bank, Titan Trust and Globus Bank will operate as commercial lenders while TAJ Bank…
LAGOS JULY 12TH (NEWSRANGERS)— Nigeria will feature significantly in the 2019 Africa Investment Forum scheduled to take place in Johannesburg, South Africa this November, business leaders and government heard at a roadshow event held in the capital Abuja. Following the hugely successful inaugural edition held last year, the African Development Bank’s innovative investment marketplace set…
LAGOS JULY 11TH (NEWSRANGERS)-A Federal High Court in Abuja on Wednesday, has awarded damages amounting to over N5.5billion in favour of a firm, Maggpiy Trading TFZE., against the Nigerian Customs Service (NCS) and the Board Chairman, over the unlawful seizure of 90 containers of rice imported. In a judgment , Justice Inyang Ekwo upheld the…
LAGOS JULY 11TH (NEWSRANGERS)-Oil prices rose 4.5% a barrel on Wednesday to their highest level in more than a month after U.S. crude inventories shrank and as major producers cut nearly a third of offshore Gulf of Mexico production ahead of an expected storm. Brent crude futures settled at $67.01 a barrel, up $2.85, or…
LAGOS JULY 10TH (NEWSRANGERS) Lagos Aviation Academy (LAA) announced that it has been enlisted by the Nigerian Civil Aviation Authority (NCAA) as an Approved Training Organization (ATO). This feat enables the academy to run additional courses such as the Cabin Crew Ab-Initio Programme and the Basic Flight Dispatcher Course. In a statement made available to…
