LAGOS FEBRUARY 25TH (NEWSRANGERS)-Amid the free fall of the naira to the United States dollar, traders who deal in grains have devised a way to sell their wares to neighbouring countries for higher profits, Sunday PUNCH has learnt. Many of them, who spoke to our correspondents, claimed that they preferred to sell their wares to…
LAGOS FEBRUARY 25TH (NEWSRANGERS)-Africa’s richest man and Chairman of Dangote Group, Aliko Dangote is feeling the heat of Nigeria’s economic crisis with his net worth shedding $1.1bn or the equivalent of N1.88tn (N1,665.5/$). The billionaire’s misfortune is coming one week after he earned a whopping $144m, an equivalent of N221.46bn (N1,537.9/$) in a single day….
LAGOS FEBRUARY 25TH (NEWSRANGERS)-The Nigeria Customs Service says it is investigating reports people were trampled to death during a sale of bags of confiscated rice amid growing anger over skyrocketing prices of food in Africa’s most populous country. “There was a chaotic situation caused by the impatience of people to follow the laid down procedures…
LAGOS FEBRUARY 23RD (NEWSRANGERS)-Toyota is recalling 280,000 of its pickup truck and SUV models over a safety issue where the transmission may not disengage entirely when in neutral, causing the vehicles to “creep forward.” “Certain parts of the transmission may not immediately disengage when the vehicle is shifted to the neutral position,” the Japanese automaker…
LAGOS FEBRUARY 23RD (NEWSRANGERS)-The Chief Executive Officer of the Financial Derivatives Company, Bismarck Rewane has told President Bola Tinubu to stop chasing shadows with the Economic and Financial Crimes Commission’s recent clampdown on Bureau De Change operators over the fluctuations of Naira against the US Dollar at foreign exchange market. Rewane disclosed this on Thursday…
LAGOS FEBRUARY 23RD (NEWSRANGERS)- The Nigeria Customs Service, NCS, yesterday flagged off the sale of 25kg bag of rice to Nigerians at a discounted price of ten thousand naira (N10,000.00) only. Speaking at a press conference to flag off the event in Yaba, Lagos state, the Comptroller General of Customs, Mr. Bashir Adewale Adeniyi recalled…
LAGOS FEBRUARY 22ND (NEWSRANGERS)-Nigeria’s economic situation continues to worsen as its legal tender, naira tumbled at the parallel market in spite of the clampdown the federal government ordered on foreign exchange market speculators. On Tuesday, the naira slid further with one dollar exchanging for 1,900 in Abuja and Kano, and N1,800 in Lagos; while the…
LAGOS FEBRUARY 21ST (NEWSRANGERS)-Less than five days after the Central Bank of Nigeria (CBN) reduced exchange rate for Customs cargo clearance from N1,515.48 to N1,472.756, the apex regulatory bank, on Wednesday, increased the rate to N1,605.82 per dollar representing nine per cent increment. But, the presidential candidate of the Labour Party (LP) in the 2023…