LAGOS JULY 3RD (NEWSRANGERS)-Shell Nigeria Exploration and Production Company Ltd (SNEPCo) took a major step towards empowering Nigerian contractors with the launch of a $3-billion Contract Finance Facility in partnership with nine leading Nigerian banks. The facility is designed to provide credit support for local contractors executing projects for SNEPCo operations and will be…
LAGOS MARCH 11TH (NEWSRANGERS)-Iran attacked commercial ships on Wednesday and targeted Dubai International Airport, escalating a campaign of bottling up the oil-rich Persian Gulf as global energy concerns mounted and American and Israeli airstrikes pounded the Islamic Republic. Iran’s response to the surprise Israeli and U.S. bombardment 12 days ago has upended trade routes, choked…
LAGOS AUGUST 12TH (NEWSRANGERS)-Kuwait’s Criminal Security Sector has dismantled an international cybercrime ring composed of Nigerian nationals responsible for coordinated attacks on telecommunications towers and banks. The Ministry of Interior, which announced this, was referenced by the Arabic-language daily, Al Qabas, which noted that the case was initiated after the Communication and Information Technology Regulatory…
LAGOS OCTOBER 7TH (NEWSRANGERS)-The Central Bank of Nigeria has released updated saving deposit interest rates for various Deposit Money banks (DMBs). According to CBN, banks now offer an average savings deposit rate of 8.03% compared to the previous average rate of 7.88%. A savings rate is the interest rate Nigerian banks pay their customers to…
LAGOS AUGUST 3RD (NEWSRANGERS)-As the the nationwide protests across the country continues to rage on, traders in most Lagos markets might have taken to just sit and watch. The situation in Tradefair complex is almost same for Alaba, Ladipo, Computer Village and others remain sealed. Cities like Lagos, Port Harcourt in Rivers State, and Benin…
LAGOS JULY 19TH (NEWSRNAGERS)-A major technology outage grounded flights, hampered public transit systems and disrupted operations at banks and hospitals around the globe Friday in an incident a cybersecurity firm blamed on a faulty system update. CrowdStrike, a U.S. firm that advertises being used by over half of Fortune 500 companies, said one of its…
LAGOS FEBRUARY 9TH (NEWSRANGERS)-The Nigerian Senate has uncovered $400 million in intervention funds domiciled in banks and other financial institutions for a couple of years. This was disclosed by the lawmaker representing Kogi Central and the Chairman of the Senate Committee on Local Content, Senator Natasha Akpoti-Uduaghan, during a session with the Nigerian Content Development…
LAGOS DECEMBER 2ND (NEWSRANGERS)-Bank customers have said that they are unable to withdraw their deposits for transaction in yuletide season in Ondo State, as the banks have slashed their withdrawal limits across the state. Investigation revealed that many customers could not withdraw the amount they needed over the counter due to a lack of adequate…