DSS Arrest Of CBN Deputy Gov,Obiora Linked To Emefiele Trial

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,…

Emefiele Unable To Meet Bail Condition On 20-Count Fraud Charge

LAGOS AUGUST 18TH (NEWSRANGERS)-A Nigerian court in the capital Abuja adjourned a hearing on Thursday for suspended central bank governor Godwin Emefiele, who is facing a 20-count fraud charge, due…

CBN Plans To Flood Market With Dollars To Abort Further Sliding Of Naira

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…

FG Withdraws Fire Arms Case, Files Corruption Charges Against Emefiele

LAGOS AUGUST 15TH (NEWSRANGERS)-Nigerian prosecutors filed a 20-count indictment against suspended and detained central bank governor Godwin Emefiele on Tuesday, one of them accusing him of “conferring unlawful advantages”, a…

$7.5bn Loan Issued By US Banks To Nigeria In 2015 Surge  As Tinubu Removes Subsidy

LAGOS AUGUST 12TH (NEWSRANGERS)-Nigeria’s central bank has reported a $7.5 billion loan from U.S. banks JP Morgan and Goldman Sachs in financial statements published for the first time since 2015,…

Naira Plunges To Record Low As CBN Looks Set To Phase Out Currency Control

LAGOS JUNE 14TH (NEWSRANGERS)-Nigeria’s central bank allowed the naira to slump to a record low as officials look set to phase out currency controls that have distorted Africa’s biggest economy…

Days After Denial Of Devaluation Of Naira, CBN Auctions Dollar At N645

LAGOS JUNE 9TH (NEWSRANGERS)-Days after the Central Bank of Nigeria denied Daily Trust’s report that devaluation may be in the cards, it auctioned dollars, Wednesday, at N645 apiece – a…

CBN Allows Naira To Weaken About 2% On Official To Record Low

LAGOS JUNE 7TH (NEWSRANGERS)-Nigeria’s central bank allowed the naira to drop about 2% on the official market to a record low on Wednesday, but the currency’s rate remained above where…

Importers Condemn CBN Denial Of Naira Devaluation, Urge The Finance House To Be Truthful

LAGOS JUNE 3RD (NEWSRANGERS)-Importers have condemned the Central Bank of Nigeria (CBN)’s over its denial that the Naira has been devalued. In an interview with BusinessDay, an importer, who craved…

CBN Raises Interest Rate from 18% To 18.5%…The Development Is Third This Year

LAGOS MAY 24TH (NEWSRANGERS)-The Central Bank of Nigeria (CBN) has raised the interest rate from 18 percent to 18.5 percent. The apex bank governor, Godwin Emefiele, announced the decision  on…