LAGOS NOVEMBER 14TH (NEWSRANGERS)-Naira scarcity is biting harder across the country as banks have limited cash withdrawals, findings by Daily Trust have shown. Residents of Lagos, Abuja, Kano, Katsina, Jigawa and Adamawa and in other parts of the country are expressing concerns over their inability to withdraw huge cash in their banks, raising fears of…
LAGOS NOVEMBER 9TH (NEWSRANGERS)-Nigeria’s former central bank governor was freed on bail after spending the past five months in prison. A court in the capital, Abuja, released Godwin Emefiele on Wednesday, his lawyer Johnson Usman said by phone. The court ordered Emefiele to surrender his travel documents, Lagos-based newspaper Punch reported. Emefiele, 62, has been…
LAGOS SEPTEMBER 27TH (NEWSRANGERS)-A former governor of the Central Bank of Nigeria (CBN), Sanusi Lamido Sanusi, has stated that the All Progressives Congress-led government has set Nigeria 40 years backwards economically. He lamented that the APC has wiped out all the gains the country made in 35 years. The former Emir of Kano made the…
LAGOS SEPTEMBER 25TH (NEWSRANGERS)-Nigeria’s external debt has surged by N13.38 tn ($17.38 billion) in the second quarter of 2023 due to a significant devaluation of the naira and changes in foreign exchange policies, according to data from the Debt Management Office (DMO). The country’s external debt rose to N33.25 tn ($43.16bn) in Q2 2023 from…
LAGOS SEPTEMBER 14TH (NEWSRANGERS)-A viral message suggests that the Central Bank of Nigeria (CBN), under the directive of President Bola Ahmed Tinubu, plans to re-denominate the Naira by removing two zeroes or shifting two decimal points, accompanied by a transition period during which both old and new Naira would coexist. How true is this claim?…
LAGOS SEPTEMBER 2ND (NEWSRANGERS)-The Department of State Services (DSS) has arrested Kingsley Obiora, deputy governor of the Central Bank of Nigeria (CBN) in charge of economic policy. According to reports, his arrest followed allegations of financial mismanagement under Godwin Emefiele, suspended CBN governor. Reports said Obiora was being targeted as a principal witness against Emefiele,…
LAGOS AUGUST 24TH (NEWSRANGERS)-Nigerians are already expressing their outrage over the plea bargain sought by Godwin Emiefele, the suspended Governor of the Central Bank of Nigeria, in the criminal suit filed against him by the federal government. Social media is already agog with reactions from Nigerians who expressed their disappointment over the move by Emiefele…
LAGOS AUGUST 15TH (NEWSRANGERS)-The Central Bank of Nigeria (CBN) has concluded plans to stem the continuous slide of the naira against the dollar. Top of these plans is to flood the market with dollars, it was learnt yesterday. A CBN board member, who spoke to our correspondent under anonymity, said: “At this point, the bank…