LAGOS JUNE 16TH (NEWSRNAGERS)-Ghana state-owned electricity companies have announced an interruption in power supply over reduced gas supply in Nigeria. In a joint statement on June 13, the Ghana Grid Company LTD (GRIDCO) and the Electricity Company of Ghana (ECG) said the gas supply shortage is expected to last for three weeks. “The Ghana Grid…
LAGOS JUNE 11TH (NEWSRANGERS)-Singapore Airlines has offered US$10,000 compensation payments to passengers who suffered minor injuries during a flight last month that hit sudden, extreme turbulence. On Tuesday, the airline announced that it had sent compensation offers to passengers who were on board flight SQ321 from London to Singapore on 20 May, which dropped 54…
By Simon Okeke LAGOS JUNE 6TH (NEWSRANGERS)-When the previous CEO of FirstBank resigned abruptly, like a janitor who comes to work and quits the same day, without the months-long notice we typically expect from bank leaders, I sensed something was amiss. I wrote, “I just hope it is well with him and his family as…
LAGOS JUNE 5TH (NEWSRANGERS)-Former Anambra Governor and the presidential candidate of the Labour Party in the last general election, Peter Obi, yesterday, said that the Central Bank of Nigeria’s (CBN) revocation of Heritage Bank’s operating licence, has a far-reaching impact on the bank’s depositors given the current hardship in the country. Obi, who stated this…
LAGOS JUNE 3RD (NEWSRANGERS)-In a move aimed at safeguarding the integrity of Nigeria’s financial system, the Central Bank of Nigeria (CBN) has taken the decisive step of revoking the banking license of Heritage Bank PLC. The action, effective immediately, comes in response to the bank’s persistent failure to improve its financial performance, posing a threat…
LAGOS JUNE 3RD (NEWSRANGERS)-The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has explained that multinational companies exiting Nigeria did not have a liquid foreign exchange market. According to him, the government is working on the economic and investment climate to attract more multinationals into Nigeria. The Minister stated this while fielding…
LAGOS JUNE 3RD (NEWSRANGERS)-Toyota Chairman Akio Toyoda apologized Monday for massive cheating on certification tests for seven vehicle models as the automaker suspended production of three of them. The wide-ranging faulty testing at Japan’s top automaker involved the use of inadequate or outdated data in collision tests, and incorrect testing of airbag inflation and rear-seat…
LAGOS MAY 2ND (NEWSRANGERS)-The American multinational and makers of “Huggies”, Kimberly-Clark, has exited the Nigerian market, citing the harsh economy. The company’s decision comes after it has operated locally in Nigeria for 14 years, according to a statement issued on Friday. According to the statement, the company intended to adjust global strategic priorities and the prevailing…
