LAGOS OCTOBER 7TH (NEWSRANGERS)-The Central Bank of Nigeria has released updated saving deposit interest rates for various Deposit Money banks (DMBs). According to CBN, banks now offer an average savings deposit rate of 8.03% compared to the previous average rate of 7.88%. A savings rate is the interest rate Nigerian banks pay their customers to…
By Jastra Kranjec LAGOS OCTOBER 7TH (NEWSRANGERS)-Ever since the crypto boom in early 2022, the total number of cryptocurrencies has been floating between 8,500 and 10,000, with new tokens being launched every time a bull run in the crypto space starts. The same thing happened in 2024 when the total number of cryptos jumped by…
LAGOS OCTOBER 15TH (NEWSRANGERS)-South African pay TV consumers are fast dumping DStv as access to affordable, uncapped Broadband improves, just as online streaming services gain popularity in the Southern African economy. ConsumerConnect gathered DStv parent company MultiChoice’s annual report for the year ended March 31, 2024, indicated that active DStv subscribers in South Africa (SA)…
LAGOS OCTOBER 2ND (NEWSRANGERS)-Shell has named a new Managing Director for its deep-water subsidiary in Nigeria, Shell Nigeria Exploration and Production Company Limited (SNEPCo.) He is Ronald Adams, formerly Chief Executive Officer of Atlantic LNG, Trinidad and Tobago. He takes over from Elohor Aiboni who proceeds on international assignment to Brunei Shell Petroleum (BSP) as…
LAGOS SEPTEMBER 25TH (NEWSRANGERS)-In a bid to alleviate economic hardship and support small businesses, the Federal Government has announced plans to scrap several taxes affecting vulnerable populations and small-scale enterprises. The decision was part of the resolutions at the Federal Executive Council (FEC) meeting held on Monday, chaired by President Bola Tinubu. The FEC approved…
LAGOS SEPTEMBER 24TH (NEWSRANGERS)-Libya continues to offer the cheapest petrol in Africa, with the price of octane-95 gasoline (petrol) standing at 0.15 Libyan Dinar per litre, equivalent to approximately $0.032 or N52 as of September 16, 2024. This is according to a report by Global Petrol Prices, a platform that tracks retail petrol prices across…
LAGOS SEPTEMBER 24TH (NEWSRANGERS)-The President and Chief Executive of Dangote Group, Alhaji Aliko Dangote, has called on the Federal Government to end fuel subsidies completely. He said the removal would help determine the actual petrol consumption in the country, as he confirmed ownership of two oil blocks in the upstream sector with an expected production…
LAGOS SEPTEMBER 24TH (NEWSRANGERS)-In its continued bid to maximise the nation’s abundant gas resources for economic development and prosperity, NNPC Ltd has begun discussions with investors towards bringing back two Liquefied Natural Gas (LNG) projects, Brass and Olokola LNG projects. NNPC Ltd’s Chief Financial Officer (CFO), Mr. Umar Ajiya disclosed this on the sidelines of…