LAGOS DECEMBER 16TH (NEWSRANGERS)-An employee of the Central Bank of Nigeria, Jude Ozuogu, 40, and his wife, Ifeoma Ozuogu, 24, have been sentenced to 13 years imprisonment for child abuse in Enugu. Justice A. C. Ogbuabor of an Enugu State High Court sentenced the couple for maltreating their 10-year-old maid named Chinonye Nnadi in July,…
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 24TH (NEWSRANGERS)-Lagos Human Right Lawyer, Chief Malcolm Omirhobo has stated that the Arabic inscription on the redesigned 200, 500 and 1000 Naira notes is not only a clear violation of the provisions of sections 10, 42(1)(2) and 55 of the Nigerian 1999 constitution but inimical to the unity of Nigeria. He complained that…
LAGOS NOVEMBER 23RD (NEWSRANGERS)-Nigeria’s central bank raised its main lending rate for the fourth straight time to 16.50% from 15.50% on Tuesday as policymakers seek to rein in inflation slowing economic growth ahead of elections next year. Inflation and the state of Africa’s biggest economy will be major issues when voters choose a successor to…
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 OCTOBER 18TH (NEWSRANGERS)-Nigeria’s inflation rate hit a fresh 17-year high in September, stoked by a slide in the value of the naira that raised the cost of imported goods like gas and liquid fuel. Annual inflation accelerated to 20.8%, compared with 20.5% in August, according to data released by the National Bureau of Statistics…
LAGOS SEPTEMBER 27TH (NEWSRANGERS)-Nigeria’s central bank on Tuesday hiked its main lending rate by 150 basis points to 15.50%, its highest level yet and more than forecast, forging ahead with efforts to rein in inflation and ease pressure on the currency. A Reuters poll of economists had predicted a much smaller 50 basis point hike….
