LAGOS JUNE 26TH (NEWSRANGERS)-Food giant Nestle’s businesses in Nigeria and other African countries are ramping up sourcing of local raw materials like starch and turmeric, a move that may help reduce foreign exchange exposure that has been a headache for the sector. In the wake of the COVID-19 pandemic and the supply chain problems it…
LAGOS JUNE 26TH (NEWSRANGERS)-The Central Bank of Nigeria and the Nigeria Customs Service have taken the ongoing foreign exchange reforms to the maritime sector with a 40 per cent increase in the exchange rate used for calculating import duty. The NCS on Saturday raised the exchange rate used for the calculation of import duty from…
LAGOS JUNE 23RD (NEWSRANGERS)-Kingsley Moghalu, the former deputy governor of the Central Bank of Nigeria, expressed his opinion during an interview with Arise News, stating that Godwin Emefiele, the suspended CBN governor went beyond acceptable boundaries by running for the presidency while holding the position of CBN governor. Moghalu mentioned that numerous allegations have been…
LAGOS JUNE 23RD (NEWSRANGERS)-A glut of unsold Nigerian oil has built up again with as much as half of output due to be loaded next month still searching for buyers. Traders of the nation’s oil said the surplus has been caused in part by a request for back taxes from shipping companies, which caused a…
LAGOS JUNE 23RD (NEWSRANGERS)-Nigeria President Bola Tinubu has declared that ongoing reforms, starting with removal of fuel subsidy and streamlining of exchange rate, will be sustained for a more competitive economy that attracts Foreign Direct Investment (FDI) into the country. He has, therefore urged foreign investors to take advantage of opportunities in Nigeria. Speaking Thursday…
LAGOS JUNE 22ND (NEWSRANGERS)-Ghana’s economy grew faster than anticipated in the first quarter, driven by the services and agricultural sectors. Gross domestic product expanded 4.2% in the three months through March from a year earlier, compared with 3.7% growth in the previous quarter, government statistician Samuel Kobina Annim told reporters in the capital, Accra, on…
LAGOS JUNE 21ST (NEWSRANGERS)-According to a news that was published by The Guardian Newspaper online, it was reported that some stakeholders in the maritime industry, have expressed happiness due to the removal of the Comptroller General of the Nigeria Customs Service (NCS), Hameed Ali, as they called for his probe for the destruction of trade…
LAGOS JUNE 20TH (NEWSRANGERS)-Reports have emerged that maritime practitioners which include ship owners are owing the Federal Government several billion in tax liabilities accumulated over the past 10 years. BrandSpur Nigeria reports that President Tinubu through his Special Adviser on Revenue, Zacchaeus Adedeji in a bid to recover the huge sum of money, have met…