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 The wide-ranging faulty testing at Japan’s top automaker involved the use of inadequate or outdated data in collision tests, and incorrect testing of airbag inflation and rear-seat…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…
LAGOS MAY 31ST (NEWSRANGERS)-The Presidential Committee on Fiscal Policy and Tax Reforms has recommended that the federal government adopt an exchange rate of N800 per one US dollar for Customs import duty. This proposal was announced by the committee’s chairman, Taiwo Oyedele, during a press briefing in Oyedele highlighted the challenges businesses face due to…
LAGOS MAY 30TH (NEWSRANGERS)-Prices of essential food items in Nigeria surged significantly in April 2024 compared to the same period last year, according to the latest Selected Food Price Watch report from the National Bureau of Statistics (NBS). The report revealed a concerning rise in the cost of staple foods across the board. Here’s a…
