LAGOS MAY 15TH (NEWSRANGERS)-Kabir was arrested on Tuesday, April 29th, 2025 at Tudun Wada, Kaduna State for making a video on his TikTok and Instagram @youngcee0066 page while spraying the Naira notes on the floor, matching on them and making utterances in Hausa language and daring the EFCC to come and arrest him in his…
LAGOS APRIL 30TH (NEWSRANGERS)-After hours of questioning by operatives of the Economic and Financial Crimes Commission, a popular Lagos socialite, Emeka Okonkwo (a.k.a. E-Money) purportedly regained his release on Tuesday evening. E-money had been picked on Monday night at his residence in the Omole area of Lagos and taken to the commission’s office in Abuja…
LAGOS DECEMBER 6TH (NEWSRANGERS)-Naira devaluation raised Nigeria’s external debt by about N30.03tn between 2023 and June 2024 when considered in naira terms, an analysis by The PUNCH showed. Despite a reduction in the country’s debt when measured in US dollars, the exchange rate shift has made Nigeria’s foreign obligations far more costly in local currency….
LAGOS OCTOBER 25TH (NEWSRANGERS)-The Naira today depreciated to N1,740 per dollar in the parallel market from N1,739 per dollar on Thursday. However, the Naira appreciated to N1,601.2 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM. Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,600 per dollar from N1,601.2…
LAGOS AUGUST 2ND (NEWSRANGERS)-The Naira continued to appreciate against the dollar at the foreign exchange market despite the ongoing nationwide protest against bad governance. This came as the Naira appreciated significantly in both official and parallel foreign exchange markets. FMDQ data showed that Naira significantly appreciated to N1570.00 against the dollar on Thursday from N1608.73…
LAGOS AUGUST 1ST (NEWSRANGERS)-Nigeria’s offer to sell oil to the Dangote Petroleum Refinery in local currency rather than dollars was greeted with caution by the company. A senior official, speaking a day after Nigeria’s cabinet approved the plan, said the company had not asked for it. Instead, it had requested that the state sell crude…
LAGOS JULY 15TH (NEWSRNAGERS)-Nigeria’s naira extended its losing streak to a fourth day, slipping to the weakest level since March despite central bank intervention amid seasonal demand for dollars and continuing investor skepticism. The naira stood at 1,563.8 per dollar at its official close on Friday, according to FMDQ. That’s the weakest since March 18,…
LAGOS JUNE 29TH (NEWSRNAGERS)-The naira has emerged as the worst-performing currency in the world in the first half of 2024. According to a report by Bloomberg on Friday, devaluation, insufficient dollar liquidity, and market volatility have hindered efforts by the Central Bank of Nigeria to strengthen the currency. Besides the naira, Egypt’s pound and Ghana’s…