Category archives for: Business

WEMA Bank Emerges Member Of The Month For Fintech Association Of Nigeria

LAGOS MARCH 1ST (NEWSRANGERS)-Wema Bank, Nigeria’s foremost innovative bank and Africa’s first fully digital bank, ALAT, has been recognised as the member of the month by the Fintech Association of Nigeria for its outstanding contributions to the fintech and innovation ecosystem. The Fintech Association of Nigeria [FinTech NGR] is a non-profit and non-political organisation established […]

Nigeria Detains Two  Binance Executives In Cryptocurrency Crackdown- Financial Times  Reports

LAGOS FEBRUARY 29TH (NEWSRANGERS)- – Two senior executives at Binance have been detained in Nigeria as the country cracks down on cryptocurrency exchanges, the Financial Times reported on Wednesday, citing people familiar with the matter. The executives flew to Nigeria following the country’s decision to ban several cryptocurrency trading websites last week but they were […]

Top Nigeria Customs Officers Allegedly Entangle In Multi-Billion Naira Corruption Scandal

LAGOS FEBRUARY 28TH (NEWSRANGERS)-An intense lobbying is ongoing at the highest hierarchy of the Nigerian government as powerful government officials attempt to cover up a multi-billion naira corruption scandal involving senior officials of the Nigerian Customs Service (NCS), PREMIUM TIMES has gathered. At least 40 NCS personnel, most of them in the service’s highest hierarchy, […]

No Trace Of Over $26bn Funneled Through Binance  Cryptocurrency Platform-CBN Gov

LAGOS FEBRUARY 28TH (NEWSRANGERS)-Governor of the Central Bank of Nigeria, Olayemi Cardoso, has disclosed that more than $26bn was channelled through a cryptocurrency platform, Binance, in the last one year. Cardoso disclosed this on Tuesday at a press briefing after the 293rd meeting of the Monetary Policy Committee in Abuja. The Binance exchange is a […]

Customs Suspend Sale Of Discounted Rice Indefinitely After Report Of Death In Stampede

LAGOS FEBRUARY 26TH (NEWSRANGERS)-The unruly behaviours of intending beneficiaries of the sales of seized rice in Lagos on Friday, February 23rd, 2024 which unfortunately led to a number of death of innocent Nigerians, has made the Nigeria Customs Service to suspend the exercise indefinitely. Announcing the decision to halt the noble exercise in which about […]

Naira Free Fall: Nigeria Traders In Massive Food Diversion To Neighbouring Countries

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 […]

Dangote Feels Heat Of Economic Challenges As Net Worth Sheds $1.1bn

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. […]

Nigeria Customs Investigate Deadly Crowd Stampede During Sale Of Seized Bags Of Rice

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 […]

Toyota To Recall 280,000 Vehicles Over Safety Issue (Check If Yours Is Among)

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 […]

EFCC Clampdown On BDC Operators  Will Not Stop Naira Crisis -Bismark Rewane

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 […]

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