Wednesday 18 October 2017
(Bloomberg 09/27/17)
SBM Holdings Ltd., Mauritius’s second-largest lender, plans more acquisitions in Kenya as it seeks to become one of the country’s top 10 banks within the next three years before expanding into West Africa. The bank, which obtained a license to begin operating SBM Kenya Ltd. in May, expects to have its systems and staff in place by December, Advisor to the Board of Directors & Group Lead Executive Moses Harding said. It will then expand by establishing brokerage, micro-finance and asset management units as well as other services, he said. “We can’t move to tier one in an organic way, so I will look at inorganic options,” Harding said in an interview Monday in the capital, Nairobi. “This is the...
(The Guardian 09/27/17)
Nigerian refugees claim they have been arbitrarily punished by soldiers for Boko Haram attacks in Cameroon as study alleges 100,000 have been forced out. Refugees who fled the Islamist militant group Boko Haram are being driven out of Cameroon and back to Nigeria, where they face violence and destitution, human rights organisations have said. The Cameroonian military has forced 100,000 refugees to return to north-east Nigeria since 2015, in many cases after torturing, assaulting and sexually abusing them, according to a report by Human Rights Watch (HRW). The study builds on figures released earlier this year by the UN High commissioner for Refugees, the UN refugee agency. The figures were accompanied by the UNHCR’s first public criticism of the authorities...
(Bloomberg 09/27/17)
Studio 189, a label founded by actress Rosario Dawson and fashion executive Abrima Erwiah, is reinvesting in its African roots. It’s hard enough to build a fashion brand, let alone an empire. Rare is the person who makes a mission of using fashion to build communities. Such is the case with Studio 189, a label founded by longtime friends Abrima Erwiah (formerly a marketing executive at Bottega Veneta) and Rosario Dawson (an enduring star most recently seen in Netflix’s Marvel franchise). “The idea is to produce everything in local markets,” says Erwiah. “Particularly in Africa, particularly in Ghana.” The founders set up the company in partnership with the United Nations’ Ethical Fashion Initiative, which also works with such socially conscious...
(AFP (eng) 09/26/17)
Ten people appeared in court in northeast Nigeria on Tuesday charged with breach of the peace and rioting after a protest march by the Boko Haram homeless. An official at the Wulari magistrates court in Maiduguri said the hearing took place under heavy security and the defendants were charged with rioting and breach of the peace. "It was a brief appearance and no pleas were taken," the official, who asked not to be identified because he was not authorised to speak to the media, told AFP. "The judged ordered that they be remanded in prison custody and adjourned the case until October 23." The 10 were among some 3,000 people from the Dalori camp for internally displaced people (IDPs) on...
(AFP (eng) 09/26/17)
Nigeria's president is under no obligation to disclose his medical condition even though he has spent most of the year being treated abroad, one of his ministers said on Tuesday. Muhammadu Buhari has spent lengthy periods in London since January, sparking speculation about his fitness to govern -- and also questions about who was footing the bill. The 74-year-old former army general has said only that he required blood transfusions and had never been as sick in his life. Claims from political opponents that he had prostate cancer have been denied but civil society groups still want to know whether tax-payers' money was used for the private treatment. Buhari's information minister suggested the silence was not unusual, just hours after...
(AFP (eng) 09/26/17)
The World Health Organization said Tuesday it has completed a massive cholera vaccination campaign in restive northeastern Nigeria, where the disease has already killed 54 people. The week-long campaign allowed 844,000 people to receive one dose of the vaccine, which offers protection against the deadly disease for six months, WHO spokesman Tarik Jasarevic told reporters in Geneva. Northeastern Nigeria is in the grip of a humanitarian crisis caused by the Boko Haram insurgency, which has killed at least 20,000 people and displaced more than 2.6 million. As of Monday, nearly 4,000 suspected cases of cholera had been detected in the region in just over a month, according to WHO numbers.
(AFP (eng) 09/26/17)
Sixty suspected members of a pro-Biafran group were remanded in custody on Monday when they appeared in court after clashes with the security services in southeast Nigeria. The defendants, all said to be members of the Indigenous People of Biafra (IPOB) movement, are charged with a string of offences, including attempted murder and terrorism. Abia state police spokesman Geoffrey Ogbonna said the case before magistrates in the state capital Umuahia was adjourned until October 25. No plea was entered. The case is the second involving suspected IPOB members following the clashes earlier this month that were sparked by a build-up of troops in the southeast.
(Reuters (Eng) 09/26/17)
The main subsidiary of Nigeria’s state oil company said on Monday it planned to increase production from fields in which it owns stakes to 300,000 barrels per day by 2018 from the current level of 180,000 bpd. Nigerian Petroleum Development Company (NPDC), an upstream subsidiary of the Nigerian National Petroleum Corporation (NNPC), said the planned increase in so-called equity production was part of the state oil company’s “transformation.” NPDC, in a statement issued by its parent company, said production was expected to reach 400,000 bpd and 500,000 bpd by 2019 and 2020 respectively. NPDC, set up in 1988 to carry out oil and gas exploration, said it was involved in 29 concessions comprising of 22 oil mining leases and seven...
(APA 09/26/17)
Nigeria is worried over the upsurge in the number of citizens risking their lives while crossing the Sahara desert and the Mediterranean Sea to Europe. Ms. Julie Okah-Donli, the Director-General, National Agency for the Prohibition of Trafficking in Persons (NAPTIP), expressed the nation’s concern at a round table with Non-Governmental Organisations (NGOs) on Monday in Abuja. She said that with the high rate of activities of human trafficking, stakeholders must intensify efforts to curtail them. She explained that NAPTIP has been working assiduously to achieve its mandate which was primarily to use a combination of policies, strategies and programmes to stem the tide of human trafficking. According to her, human trafficking remains a major challenge to human, national and international...
(Reuters (Eng) 09/26/17)
Israel’s Elbit Systems Ltd said on Tuesday it won a contract worth $240 million to provide a wide array of defense electronic systems to an unnamed country in Africa. The contract, which will be carried out over a two-year period, is comprised of Directed Infra-red Counter Measure (DIRCM) systems to protect aircraft from shoulder fired missiles, based on passive infrared systems, and includes missile warning systems, radio and communication systems, land systems, mini-unmanned air systems and helicopters upgrade.
(AFP (eng) 09/26/17)
Nigeria on Tuesday recalled Arsenal forward Alex Iwobi for next month's crucial 2018 World Cup qualifier against their main rivals Zambia. The 21-year-old was ruled out of the double-header against Cameroon earlier this month with a thigh strain, but should be fit for the next game in Uyo on October 7. The Super Eagles top Group B with 10 points and with Zambia on seven and just two rounds of matches to go a win for Nigeria puts them in the finals in Russia. Also in the group but already out of contention are African champions Cameroon in third with just three while Algeria prop up the table with one point. Forward Ahmed Musa, who has yet to feature for...
(AFP (eng) 09/25/17)
Three police officers were killed and the brother of a government minister was kidnapped after an attack on a zoo in southern Nigeria, police and the government said on Monday. Edo state police spokesman Alex Osahon said the attack happened at about 6:00 pm (1700 GMT) on Sunday at the Ogba Zoological Garden and Nature Park in Benin City. "Dr Andy Ehanire, brother to the minister of state for health (Dr Osagie Ehanire) was abducted by the hoodlums who stormed the zoo," he said. "Sporadic gunshots... led to the death of three policemen" attached to the zoo, he added. Andy Ehanire is the zoo's director and chief executive. Kidnapping for ransom is a regular occurrence in Nigeria's south, with high-profile...
(AFP (eng) 09/25/17)
At least 10 people were arrested after thousands of people uprooted from their homes by the Boko Haram insurgency protested in northeast Nigeria, march organisers said Monday. Some 3,000 people from the Dalori camps for internally displaced people (IDPs) on the outskirts of Maiduguri took to the streets on Sunday, demanding improved conditions. They also called for permission to return to their homes in the second-largest town in Borno state, Bama, but were blocked from heading to the governor Kashim Shettima's office. Ibrahim Bukar, from protest organisers the Bama Youth Development Association...
(AFP (eng) 09/25/17)
Thousands of Nigerians uprooted from their homes by the Boko Haram insurgency hit the streets of Maiduguri Sunday in protest at food shortages and poor conditions in their refugee camp, demanding they be allowed to go home. More than 2.6 million people have been displaced by the deadly violence in northeastern Nigeria that erupted eight years ago, forcing them into camps and host communities. Around 3,000 people living in Dalori camp joined the protest in Maiduguri, the epicentre of the insurgency, denouncing food and water shortages as well as "appalling" living conditions. The protesters, from Borno state's
(Bloomberg 09/25/17)
Now that Nigeria’s economy is recovering from its worst slump in 25 years, the central bank can turn its focus to fighting inflation again -- and shoring up its currency. The Monetary Policy Committee has kept its interest rate at a record-high 14 percent since July 2016, trying to support the economy, and will probably hold it there at its decision this week to contain above-target consumer-price growth. Officials can take heart from a pickup in West Africa’s biggest economy in the second quarter after more than a year of contraction, as higher oil output boosted the supply of foreign currency to buy raw materials and food. That upswing probably gives the MPC, led by Governor Godwin Emefiele, room to...
(APA 09/25/17)
Nigeria’s Minister of Foreign Affairs Geoffrey Onyeama has said that the fate of Morocco’s application to formally join the ECOWAS sub-regional group as a full member will be determined in December by the ECOWAS Heads of State. According to a report by the Nigeria Television Authority on Monday, the minister said in an interview that there were currently arguments against and for the admission of the North African country into the West African sub-regional bloc. The report quoted agency report as saying that Morocco’s Ministry of Foreign Affairs and Cooperation had in February announced the plan by the country to join the 15-member sub-regional bloc. “The Kingdom of Morocco has informed President of Liberia Ellen Johnson Sirleaf, the former chair...
(Premium Times 09/25/17)
It may assault sensibilities of some people to insinuate that Nigerians will have to drink their oceans of ‎oil, as it may be unscientific to suggest that the resource will dry up soon. But the alarm bells are ringing loudly as the world increasingly turns away from oil. The rate at which major oil consuming countries are setting deadlines for the use of the commodity spells doom for any oil economy. And indeed Nigeria! Sooner than later we would be asking ourselves what we did with all that oil. A very expressive analyst puts it this way: "‎They say life is not fair, but God is fair. He compensated the Arabs for the harsh desert conditions with abundant oil resources,...
(Bloomberg 09/25/17)
OPEC’s commitment to cutting production to clear a global glut is working, but the group needs to address rising output from Libya and Nigeria, Iran’s Oil Minister Bijan Namdar Zanganeh said. Compliance with the output cuts is “acceptable,” Zanganeh told reporters Sunday in Tehran. The Organization of Petroleum Exporting Countries should focus on “the situation with Libya and Nigeria,” he said, referring to the two countries exempted from capping production due to their internal strife. Nigeria will be able to participate in cuts when its output stabilizes at 1.8 million barrels a day, Oil Minister Emmanuel Kachikwu said Friday. “OPEC’s actions are working and compliance is acceptable overall, although there needs to be some change,” Zanganeh said, referring to OPEC...
(Bloomberg 09/25/17)
By Dulue Mbachu 25 septembre 2017 à 00:01 UTC+1 From Almost half a century after a secessionist war in southeastern Nigeria ended, a renewed push for an independent state known as Biafra is stoking fresh conflict. Thousands of troops have been deployed in the region, which is mainly populated by ethnic Igbos. The forces have rounded up scores of members of the Indigenous People of Biafra, or Ipob, the main group behind the breakaway campaign, several people have died in clashes, and Ipob’s popular leader has gone missing after a military raid at his home. 1. What’s brought the Biafra cause alive again? In short, a new leader. Nnamdi Kanu, 45, has injected new life into the secessionist movement. Previously...
(APA 09/25/17)
The Nigerian Stock Exchange (NSE) says that the group has remained profitable with an operating surplus despite the economic headwinds in 2016. The President of the National Council of the Nigerian Stock Exchange (NSE), Mr. Aigboje AigImoukhuede, announced at the 56th Annual General Meeting (AGM) of the NSE on Monday in Lagos that the Nigerian bourse generated revenues of N4.46 billion (about $14.62m) for year ended December 31, 2016. Aig-Imoukhuede said that the figure was down by 31 percent from the revenue generated in the previous year, reflecting bearish sentiments prevalent in the market in 2016. He noted that total expenses declined by 12 percent year-on-year without affecting the NSE’s high operating standards and service quality, while the operating surplus...

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