LAGOS DECEMBER 6TH (NEWSRANGERS)-Forex turnover rose sharply by 173.3%, as the Naira’s exchange rate at the NAFEX window remained stable against the dollar to close at N395/$1 during intra-day trading on Thursday, December 3. Also, the Naira appreciated significantly against the dollar, closing at N470/$1 at the parallel market on Thursday, December 3, 2020, as the…
LAGOS DECEMBER 4TH (NEWSRANGERS)-The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has faulted claim that his bank obtained court orders to block accounts associated with promoters of the #EndSARS protests. Emefiele’s position was stated by his lawyer, former Attorney General of the Federation and Minister of Justice, Mike Aondoakaa (SAN) while appearing…
LAGOS NOVEMBER 28TH (NEWSRANGERS)-The Central Bank of Nigeria (CBN) on Friday devalued the naira by N6 to dollar. The naira devaluation has brought the local currency closer to the exchange rate unification agenda of the apex bank as recommended by the International Monetary Fund (IMF) and World Bank. In a weekly exchange rate for disbursement…
LAGOS NOVEMBER 15TH (NEWSRANGERS)-The naira weakened to 470 against the United States dollar in the parallel market on Friday despite the interventions of the Central Bank of Nigeria in the official window. The nation’s currency had traded at N465, N466 and N468 against the greenback on Tuesday, Wednesday and Thursday respectively. But it fell on…
LAGOS SEPTEMBER 19TH (NEWSRANGERS)-The Central Bank of Nigeria (CBN) has requested that all banks in the country submit the statements of domiciliary accounts of some high profile individuals. The apex bank issued the directive in a September 15 letter signed by Z. Markus for the director of banking supervision. The affected individuals include Adebutu Kessington,…
LAGOS SEPTEMBER 10TH (NEWSRANGERS)-President Muhammadu Buhari has directed the Central Bank of Nigeria (CBN) not to provide forex for the importation of food items or fertilizer. Speaking on Thursday at a meeting of the National Food Security Council at the State House in Abuja, the president urged private businesses bent on food importation to source…
LAGOS AUGUST 24TH (NEWSRANGERS)-The Managing Director/Chief Executive Officer of Polaris Bank Limited, Mr. Tokunbo Abiru, has announced his retirement from the service of Polaris Bank, effective August 31, 2020, having successfully completed his second two-year tenure at the helm of the Bank. In an emotion-laden farewell message to the staff of the Bank, Mr. Abiru…
LAGOS JULY 2ND (NEWSRANGERS)- Nigeria’s leading anti-corruption group, Human and Environmental Development Agenda, (HEDA Resource Centre) has raised questions concerning the award of N30b contract to a Nigerian company. HEDA had obtained details indicating that the Central Bank of Nigeria, (CBN) awarded a contract to Bulet International Limited, a company alleged owned by Ismaila Isa…
