LAGOS MARCH 6TH (NEWSRANGERS)-The Manufacturers Association of Nigeria has said that 767 manufacturers shut down operations while 335 became distressed in 2023. This came against the backdrop of exchange rate volatility, rising inflation and other economic challenges that have worsened the investment climate. MAN stated this in a statement in which it condemned the recently…
LAGOS MARCH 6TH (NEWSRANGERS)-The Nigerian Maritime Administration and Safety Agency (NIMASA) has signed a Memorandum of Understanding (MoU) with Sternula Denmark on full-scale Very High Frequency (VHF) Data Exchange System (VDES) space capabilities between the Agency and Sternula. The Director General of the Nigerian Maritime Administration and Safety Agency, NIMASA Dr Bashir Jamoh, OFR, who signed on…
bia S LAGOS MARCH 6TH (NEWSRANGERS)-Abia Governor, Dr Alex Otti, has announced plans to establish a seaport in the state. The project will be located in Owazza, Ụkwa East LGA Abia state. The Obidient governor made this announcement at the ongoing South-East Security Summit in Owerri, Imo state. He also announced that the flag off…
LAGOS MARCH 6TH (NEWSRANGERS)-The Bank of Ghana on Monday announced the suspension of the Foreign Exchange Trading Licences of Guaranty Trust Bank Ghana Limited (GTB) and FBNBank Ghana Limited (FBN). The suspension, effective 18 March, will run for one month. According to a statement by the Ghanaian central bank, the suspension is in accordance with…
LAGOS MARCH 6TH (NEWSRANGERS)-Binance, a leading cryptocurrency exchange, has announced its decision to cease operations in Nigeria due to regulatory challenges with the federal government and the Central Bank of Nigeria (CBN) regarding foreign exchange regulations. Customers have been given until March 8, 2024, to withdraw their funds, following the halt of naira deposits starting…
LAGOS MARCH 5TH (NEWSRANGERS)-The Nigeria Employers’ Consultative Association has warned that the Ministry of Interior’s expatriate employment levy will deter investment in the country. The association also faulted the levy, saying there would be a need for certain regulations to be put in place before such tax could be imposed. In a statement on Sunday,…
LAGOS MARCH 4TH (NEWSRANGERS)-Peter Obi, the candidate of the Labour Party (LP) in the 2023 presidential election, has lamented over the continuous loss of profit by business organizations in the country. Obi called for a more favorable business environment to enable local and international businesses to thrive. Obi, who made the call while reacting to…
LAGOS MARCH 4TH (NEWSRANGERS)-The House of Representatives has dismissed a petition against the Managing Director of the Nigeria Ports Authority (NPA), Muhammed Bello-Koko. Recall that a Non-Governmental Organisations in Nigeria, had petitioned the House Committee on Public Petitions alleging that the MD recorded a bad debt of N178 billion in the audited financial statement of…