LAGOS JANUARU 5TH (NEWSRANGERS)-A prominent economist and Managing Director of Financial Derivatives Company Limited, Bismarck Rewane, has argued that it is impossible for fuel to sell at N1,200. Making this argument during an interview with Channels Television, Rewane argued that fixing the pump price of fuel at N1,200 will bring the nation’s economy to its…
LAGOS JANUARY 5TH (NEWSRANGERS)-U.S. prosecutors in Manhattan unveiled criminal charges against a Nigerian fintech businessman who recently bid unsuccessfully for an English Premier League soccer team, saying he lied to investors about his companies’ finances. Odogwu Banye Mmobuosi, 45, the former co-chief executive officer of Tingo Group (TIO.O), was charged with securities fraud, making false…
LAGOS JANUARY 4TH (NEWSRANGERS)-Former Sierra Leone President Ernest Bai Koroma has been charged with four counts of treason in connection with an attempted coup. Last November, gunmen broke into a military armoury and several prisons in Freetown, freeing almost 2,000 inmates. He has denied any involvement in the attack which killed about 20 people. West…
LAGOS DECEMBER 28TH (NEWSRANGERS)-Despite Deontay Wilder’s unexpected loss to Joseph Parker in Saudi Arabia last week, Nigerian-born promoter, Dr Adrian Ogun, has said that plans are still on for the former WBC champion to fight Anthony Joshua in Nigeria. Adrian explained that the initiative was aimed at reigniting the interest in boxing, saying that since…
LAGOS DECEMBER 28TH (NEWSRANGERS)-Nigeria secured total loans of $2.7 billion from the World Bank under the administration of President Bola Tinubu amid concerns over the country’s rising external debt servicing costs. The four approved loans are for power ($750 million), women empowerment ($500 million), girl’s education ($700 million), and renewable energy ($750 million), according to…
LAGOS DECEMBER 13TH (NEWSRANGERS)-Libya on Tuesday repatriated nearly 1,000 migrants from Egypt and Nigeria who had been staying in the North African country illegally, officials and AFP journalists said. The 664 Egyptians were to be taken by bus to the Emsaed border post with Egypt, nearly 1,400 kilometres (870 miles) east of Tripoli. General Mohamad…
By Chukwudi Iwuchukwu LAGOS DECEMBER 11TH (NEWSRANGERS)-At the last count, five multinationals have closed shop and left Nigeria this year alone. They include Unilever, GSK, P&G, Sanofi, and Equinor. Unilever Nigeria exited its home care and skin cleansing categories in Nigeria. Equinox, a Norwegian oil and gas company, sold its oil and gas assets, including…
LAGOS DECEMBER 8TH (NEWSRANGERS)-Nigeria may lose five thousand direct jobs as Procter & Gamble, a multinational consumer company, announced its plan to exit the largest African economy 31 years after coming to the country. On Wednesday, P&G chief financial officer Andre Schulten disclosed that the company will turn Nigeria into an import-only market. Consequently, the…
