LAGOS JULY 16TH (NEWSRANGERS)-The forex reform of President Bola Tinubu is seen to be having a positive impact on inflow of remittance into the country. The reform aims to address the challenges of foreign exchange by floating the Naira, allowing market forces to determine the exchange rate. Many Nigerian big firms have since then…
LAGOS JULY 14TH (NEWSRANGERS)-The Nigeria Civil Aviation Authority (NCAA) has indefinitely suspended the operations of all Boeing 737 aircraft of domestic carrier, Max Air, over unsafe occurrences. This was contained in a letter dated July 12, 2023, and marked NCAA/DG/AIR/11/16/363. The suspension is with immediate effect. The letter which was titled, ‘suspension of parts A3…
LAGOS JULY 13TH (NEWSRANGERS)-The House of Representatives has resolved to constitute an ad hoc committee to investigate alleged fictitious contract awards, gross mismanagement of billions of naira and lopsided placement of directors by the Nigerian Maritime Administration And Safety Agency. The ad hoc committee was given three months to conclude the probe and report back…
LAGOS JULY 12TH (NEWSRANGERS)-In its report, the NCAA said the 11 domestic airlines operating in the country had 284 flight cancellations in the first quarter of the year. It seems like no matter which airline travellers choose, they’re all facing the same chaos in Nigeria. Recently, Khadijah Ibrahim was left stranded at the Nnamdi Azikiwe…
LAGOS JULY 11TH (NEWSRANGERS)-UAE prosecutors have ordered the arrest of a man who filmed an “arrogant” social media video inside a luxury car showroom in the country. According to a report by state-run news agency WAM, the video insults and ridicules Emirati society and incites harmful public opinion of citizens. In the offending video an…
LAGOS JULY 10TH (NEWSRANGERS)- — Last month’s currency devaluation in Nigeria is bringing foreign investors back to the nation’s stock market. Overseas investment flows have jumped over the past month after incoming President Bola Tinubu’s administration allowed the naira to weaken 40%, according to data from the Nigerian Exchange in Lagos. While the devaluation initially…
LAGOS JULY 9TH (NEWSRANGERS)-EasyJet left 19 passengers on the runway after their flight from Lanzarote to Liverpool became too heavy to take off, according to a report. In a rare incident, British airline EasyJet left 19 passengers on the runway as the flight reportedly became ‘too heavy’ to take off. According to the report, the…
LAGOS JULY 8TH (NEWSRANGERS)-THE Federal Inland Revenue Service (FIRS) says it is exempting dealers of foodstuffs from the Value Added Tax (VAT) Direct, its proposed tax for traders in the informal economy. The tax also excludes artisans from compliance. Many Nigerians have expressed disapproval with the proposed tax, but a senior FIRS official had provided…