Category archives for: Business

Customs Uncover N5bn Worth Of Tramadol, Codeine, Others In Lagos Warehouse

LAGOS AUGUST 17TH (NEWSRANGERS)-The Nigerian Customs Service has intercepted 21 contraband drugs valued at over N5 billion. The National Public Relations Officer of NCS, Assist. Comptroller Joseph Attah, disclosed this when he conducted newsmen round a warehouse where trucks of the intercepted items were parked at the Ikeja Training College of the service in Lagos […]

Nigerian Emerges First African Member To Join The World Trade Board

LAGOS AUGUST 10TH (NEWSRANGERS)-International legal and finance expert, Dr Adesegun Akin-Olugbade, has been appointed as a member of the World Trade Board, becoming the first African member of the organization. The Nigerian joins 20 other global trade and finance leaders on the board. According to the Chairman of World Trade Board, Simon Paris, the appointment […]

Three Convicted For Vandalizing Ogun Customs Official Patrol Vehicles

LAGOS AUGUST 7TH (NEWSRANGERS)-The Federal High Court sitting in Abeokuta, Ogun state capital has convicted three accused persons for vandalizing official patrol vehicle attached to Team “H” Roving “A” Anti-Smuggling Patrol Team at Ashipa forest on 22nd September, 2017. The accused persons, Yakubu Olamide, Paul Ayinla, and Ayinde Adebayo, was said to be guilty jointly […]

MTN Granted ‘Super Agent’ License To Provide Financial Services In Nigeria

LAGOS AUGUST 1ST (NEWSRANGERS)-The fledgling mobile money market in Nigeria is about to get a major shake-up. MTN Nigeria, the country’s largest telecoms operator, has been granted a “super agent” license which allows it set up an agent network through which it can provide financial services. It’s the first step in MTN’s plans to finally […]

China Begins Export Of ‘Tokubo’ Cars To Nigeria

LAGOS JULY 30TH (NEWSRANGERS)-China has commenced the export of used cars popularly known as ‘tokunbo’ to Africa, Asia and Europe, with Nigeria one of the destinations for the first batch of 300 cars. The country’s Ministry of Commerce had, in a statement, announced that it had cleared 10 cities to begin the export of second-hand […]

French Custom Officers Impounds 3,000 Grenades, 56kg Of Munitions From Collector

LAGOS JULY 26TH (NEWSRANGERS)-French authorities said on Thursday that a suspiciously low-slung vehicle led Customs officers to seize a collector’s caches of 3,000 grenades and 56kg of munitions. A statement by Budget Minister Gerard Darmanin said the customs officers were on patrol on a road between Paris and the Belgian border near Chimay when they […]

Central Bank Issues Operation License For Three New Banks In Nigeria

LAGOS JULY 24TH (NEWSRANGERS)-The Central Bank of Nigeria (CBN) has issued operating licence to three new banks to operate in the country. The new banks are Titan Trust Bank Limited, TAJ Bank Limited and Globus Bank Limited. According to the apex bank, Titan Trust and Globus Bank will operate as commercial lenders while TAJ Bank […]

Nigeria Is Expected To Be Major Player In 2019 Africa Investment Forum In South Africa

LAGOS JULY 12TH (NEWSRANGERS)— Nigeria will feature significantly in the 2019 Africa Investment Forum scheduled to take place in Johannesburg, South Africa this November, business leaders and government heard at a roadshow event held in the capital Abuja. Following the hugely successful inaugural edition held last year, the African Development Bank’s innovative investment marketplace set […]

Nigeria Customs To Pay N5.5b Fine Over Seizure Of 90 Containers Of Imported Rice

LAGOS JULY 11TH (NEWSRANGERS)-A Federal High Court in Abuja on Wednesday, has awarded damages amounting to over N5.5billion in favour of a firm, Maggpiy Trading TFZE., against the Nigerian Customs Service (NCS) and the Board Chairman, over the unlawful seizure of 90 containers of rice imported. In a judgment , Justice Inyang Ekwo upheld the […]

Oil Hits 4.5% In Six-Week As Storm Builds In Gulf Of Mexico

LAGOS JULY 11TH (NEWSRANGERS)-Oil prices rose 4.5% a barrel on Wednesday to their highest level in more than a month after U.S. crude inventories shrank and as major producers cut nearly a third of offshore Gulf of Mexico production ahead of an expected storm. Brent crude futures settled at $67.01 a barrel, up $2.85, or […]

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