LAGOS MAY 12TH (NEWSRANGERS)-The Economic and Financial Crimes Commission(EFCC) has asked the federal government to ban embassies from transacting in foreign currencies within Nigeria, saying it is illegal and “unhealthy”. In a letter addressed to Foreign Affairs Yusuf Tuggar, EFCC chairman Ola Olukoyede registered his displeasure that the embassies charge visa fees and consular services in dollars…
LAGOS MAY 12TH (NEWSRANGERS)-Naira has dipped from the best to the worst performing currency, according to a new Bloomberg report. This is a reversal in its recent gains, emerging as the world’s worst-performing currency after a wonderful performance last month. Synthesize Beautiful Scenes of Ha Giang Via Super Quality Travel Video – Flycam Nem TV…
LAGOS MAY 6TH (NEWSRANGERS)-The Naira depreciated by N130 against the United States dollar at the parallel foreign exchange market on Sunday. A Bureau De Change operator, Mistila Dayyabu, disclosed this to the DAILY POST in an interview. He noted that Naira dropped to N1,420 per dollar from N1,290 in less than 48 hours at the…
LAGOS APRIL 27TH (NEWSRANGERS)-Prophet Chukwuemeka Ohanemere of the Mountain of Holy Ghost Intervention and Deliverance Ministry, also known as Odumeje, said he has returned to Nigeria to stop the appreciation of the dollar against the Nigerian currency. Odumeje, in a video recorded at the airport while returning from London, boasted: “This is Indaboski Bahose. The…
LAGOS APRIL 17TH (NEWSRANGERS)-As Naira appreciated further against the United States dollar across both the authorised and unauthorised foreign exchange markets on Monday, inflationary pressures persisted across the country. According to market data published on the FMDQ website, naira closed Monday at N1,136.04/$1 against N1,142.38 recorded in the previous market session last Friday. Monday’s gain…
LAGOS FEBRUARY 27TH (NEWSRANGERS)-Ace economist and chieftain of the Labour Party, Pat Utomi, has issued a stern warning that the naira may fall to N10,000 per dollar if nothing is done urgently. Utomi gave this warning on Sunday at an event organised by activist Dr Moses Paul to mark the first anniversary of the 2023…
LAGOS FEBRUARY 27TH (NEWSRANGERS)-Nigeria is currently experiencing its worst economic crisis in a generation, leading to widespread hardship and anger. The trade union umbrella group, the Nigeria Labour Congress (NLC), has organised nationwide protests on Tuesday, calling for more action from the government. A litre of petrol costs more than three times what it did…
LAGOS FEBRUARY 22ND (NEWSRANGERS)-Nigeria’s economic situation continues to worsen as its legal tender, naira tumbled at the parallel market in spite of the clampdown the federal government ordered on foreign exchange market speculators. On Tuesday, the naira slid further with one dollar exchanging for 1,900 in Abuja and Kano, and N1,800 in Lagos; while the…