LAGOS JANUARY 7TH (NEWSRANGERS)-The Federal High Court sitting in Abuja has ordered the seizure of funds and assets that the Economic and Financial Crimes Commission, EFCC, traced to a banker, Mr Aleshe Ayodeji, who allegedly deposited fake currencies worth over N20million, with the Central Bank of Nigeria, CBN. EFCC alleged that Ayodeji, who was in…
LAGOS DECEMBER 28TH (NEWSRANGERS)-Like a joke, and as Fela sang in one of his all time hits, “the thing wey dey cos our suffer, e don dey show him face to us…” Finally, those who have been BEHIND the SUFFERING of Nigerians have now been exposed to us. For this, our GRATITUDE should go to…
LAGOS DECEMBER 27TH (NEWSRANGERS)-Once again, Mr Godwin Ifeanyichukwu Emefiele, governor of the Central Bank of Nigeria, is in the news. Central bankers the world over have dominated newspaper headlines as they have sought to tighten monetary conditions to stave off rising prices in their respective economies. As domestic inflation rises relentlessly, Mr Emefiele, a late…
LAGOS DECEMBER 23RD (NEWSRANGERS)-Nigeria’s currency is poised for its eighth straight day of losses and on track for its longest losing streak since 2020, less than two months before a presidential election. The naira traded at 453.16 to the dollar as of 4:30 p.m. local time on Thursday in the spot market. The currency has…
LAGOS DECEMBER 9TH (NEWSRANGERS)-Angry with the N100,000 weekly cash withdrawal limits recently set by the Central Bank of Nigeria (CBN) and its attendant economic and social challenges, the House of Representatives at Thursday plenary asked the Governor, Mr. Godwin Emefiele to suspend implementation of the policy. Emefiele was asked to cause an appearance Thursday next…
LAGOS DECEMBER 8TH (NEWSRANGERS)-Experts on Wednesday raised concerns over a new policy announced by the Central Bank of Nigeria that heavily limits withdrawals of money in a push for a cashless economy. The monetary policy, which applies to ATMs, banks and cash back from purchases, follows the launch of the West African nation’s newly designed…
LAGOS NOVEMBER 5TH (NEWSRANGERS)-Central Bank of Nigeria (CBN) has directed that individuals can only deposit N5million for new accounts and N50million for old accounts in one month. CBN Director of Currency, Ahmed B. Umar,who issued the directive said that individuals will not be allowed to deposit more than N5 million if the transaction involves a…
LAGOS NOVEMBER 1ST (NEWSRANGERS)-Operatives of the Economic and Financial Crimes Commission raided the offices of black market currency dealers in Abuja on Tuesday in a bid to halt the rapid fall of the naira. Naira plunged rapidly between Monday and Tuesday to more than 840 in Abuja a week after the the Central Bank of…
