Some foreign airlines operating in Nigeria on Saturday announced plans to begin the sales of tickets in US dollars, New Telegraph reports. Industry insiders claim that the airlines have promised to sell dollar tickets in order to clear the backlog of monies they have stashed in Nigeria. According to sources, the plan was accepted by…
LAGOS JULY 23RD (NEWSRANGERS)-Aftermath of the dwindling National currency, the Naira, and the possible concerns recently expressed by the Labour Party Presidential Candidate, Mr Peter Obi on the continued spending of foreign currency by public officials, the Central Bank of Nigeria moves to check the mopping up of dollars at forex market. The CBN says…
LAGOS NOVEMBER 3RD (NEWSRANGERS)-The Taliban has banned the use of foreign currencies in Afghanistan, a move that could further disrupt an economy on the brink of collapse. “The economic situation and national interests in the country require that all Afghans use Afghani currency in their every trade,” the Taliban said. The economy is struggling due…
LAGOS JULY 29TH (NEWSRANGERS)-Nigeria’s central bank is halting dollar sales to exchange bureaus, saying they have become conduits for graft and illicit flows of money. “It is a huge hemorrhage on our scarce foreign exchange reserves and it cannot continue,” the bank’s governor, Godwin Emefiele, said on Tuesday. The decision by the central bank, which…
LAGOS FEBRUARY 12H (NEWSRANGERS)-Some deadly armed robbers caused serious havoc at a popular Bureau De Change Market Plaza in Ikotun area of Lagos; carted away millions in foreign currencies and then escaped freely. P.M.EXPRESS reports that the incident happened at Kasam Plaza located along Idimu Road by College Bus Stop, Ikotun area of Lagos. The…
LAGOS FEBRUARY 21ST (NEWSRANGERS)-Garba Shehu, who cited Buhari’s speech at the Federal Executive Council, FEC meeting on Wednesday, opined that Mr President accused some politicians of flouting money laundering regulations in their desperate bid to capture political power. President Buhari, however, commended the Economic and Financial Crimes Commission, EFCC for successfully tracking the money in…