LAGOS NOVEMBER 9TH (NEWSRANGERS)-The Central Bank of Nigeria has vehemently opposed a suit before the Federal High Court in Lagos praying that the Arabic inscriptions on naira notes be removed. A Lagos-based lawyer, Chief Malcolm Omirhobo, who filed the suit before Justice Mohammed Liman, contended that having Arabic inscriptions on the naira notes portrays Nigeria…
LAGOS JULY 25TH (NEWSRANGERS)-The Naira on Friday weakened marginally against the dollar at both the parallel market in Lagos and the investor’s window. The Nigerian currency traded at N472.5 to the dollar at the parallel market, down by 0.5 points from N472 exchanged on Thursday. The Pound Sterling and the Euro closed at N582 and…
LAGOS MAY 16TH (NEWSRANGERS)-The Naira has weakened today at the parallel market (popularly known as Black Market) as it trades at N454 to $1. The development could be attributed to the high demand for the dollar by foreign investors and business owners, whose with dollar payment obligations have accumulated amid a shortage of the currency….
LAGOS MAY 4TH (NEWSRANGERS)- The Vice Presidential Candidate of the Peoples Democratic Party (PDP) in the 2019 elections, Mr. Peter Obi, over the weekend made donations worth millions of naira in cash and items to Nnamdi Azikiwe University Teaching Hospital (NAUTH), Nnewi, to help them, as an isolation centre, to strengthen their ability to combat…
LAGOS MARCH 29TH (NEWSRANGERS)-All Progressives Congress leader, Bola Tinubu, has asked the Federal Government to print more naira notes in order to save the economy from collapse even as the Covid-19 pandemic continues to bite harder. Tinubu said this in a statement he wrote in commemoration of his 68th birthday. The former governor of Lagos State…
LAGOS MARCH 21ST (NEWSRANGERS)-Nigeria has technically devalued the naira at the Investors and Exporters (I&E) trading window from N366.70 to N380.20. A source at the Central Bank of Nigeria, who asked to remain anonymous confirmed the development Friday to THEWILL. The move is expected to sustain foreign portfolio investors’ interest in Nigeria’s financial instruments. Nigeria…
LAGOS JANUARY 10TH (NEWSRANGERS)-A rights activist and lawyer, Chief Malcolm Omirhobo, has asked a Federal High Court to interpret the provisions of Section 10 of the 1999 Constitution, in relation to the inscription on the Naira notes and logo of the Nigerian Army. The plaintiff filed two suits labeled FHC/Abj/CS/2/2020 and FHC/Abj/C’S/3/2020. The defendants in…
LAGOS JULY 16TH (NEWSRANGERS)The Nigerian Army said yesterday that investigation has commenced into the case involving some soldiers who allegedly carted away a consignment while on escort duty from Sokoto to Kaduna. Daily Trust learnt that the consignment was containing cash amounting to millions of naira which they were asked to deliver by a VIP….