LAGOS JUNE 7TH (NEWSRANGERS)-The House of Representatives at the plenary on May 22nd introduced and passed through first reading a Bill which seeks to alter the provisions of the Constitution of the Federal Republic of Nigeria 1999 (as amended) to create a new state in the Southeastern region of Nigeria known as Orlu State. The…
LAGOS JUNE 7TH (NEWSRANGERS)-The US government has filed a civil forfeiture action to recover $5.3 million linked to a business email compromise (BEC) scheme that defrauded a Massachusetts workers union. In January 2023, a spoofed email led the union to transfer $6.4 million to a fraudulent account. The funds were then routed through various international…
LAGOS JUNE 7TH (NEWSRANGERS)-The Presidency has disowned the two leaked policies in circulation insinuating that the Federal Government may have returned to the payment of fuel subsidy and be considering fiscal measures to battle food inflation in the country. In a release signed by Bayo Onanuga, Special Adviser to the President on Information and Strategy,…
LAGOS JUNE 3RD (NEWSRANGERS)-Bishop of the Anglican Diocese of Oru, Rt. Rev. Geoffrey Chukwunenye has raised the alarm that “Nigeria is gradually sliding into a total collapse and the government appears to have lost every idea on how to stop the slide.” The alarm was part of the 77-page presidential address he delivered, weekend, during…
LAGOS JUNE 3RD (NEWSRANGERS)-The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has explained that multinational companies exiting Nigeria did not have a liquid foreign exchange market. According to him, the government is working on the economic and investment climate to attract more multinationals into Nigeria. The Minister stated this while fielding…
LAGOS JUNE 2ND (NEWSRANGERS)-A bill proposing a return to regional government in Nigeria is before the National Assembly and is expected to passed into law before October 1, 2024. Part of the draft bill circulating on social media, seen by SaharaReporters is titled: “A Bill for an Act to Substitute the Annexure to Decree 24…
LAGOS MAY 2ND (NEWSRANGERS)-The American multinational and makers of “Huggies”, Kimberly-Clark, has exited the Nigerian market, citing the harsh economy. The company’s decision comes after it has operated locally in Nigeria for 14 years, according to a statement issued on Friday. According to the statement, the company intended to adjust global strategic priorities and the prevailing…
LAGOS MAY 31ST (NEWSRANGERS)-The Chief Executive Officer of Lagos-based Financial Derivatives, Bismarck Rewane, has said that Ghana is now doing better than Nigeria economically. However, he predicted that though things are tough, there would be light at the end of the tunnel. Rewane, who spoke on a television programme monitored by THISDAY while analysing President…