Thursday 17 August 2017
(Reuters (Eng) 04/19/13)
Nigerian authorities charged a man on Friday with masterminding a 2011 Christmas Day bomb attack on a Catholic church in the capital that killed 37 people. Security forces captured Kabiru Sokoto, the main suspect in the attack, in January 2012. He escaped a day later but was recaptured the following month. In court on Friday he pleaded not guilty to charges of terrorism. Justice Adeniyi Ademola adjourned trial to May 2. Islamist militant group Boko Haram claimed responsibility for the bombing of St. Theresa Catholic Church in Madalla, on the outskirts of Abuja, which killed 37 people and wounded 57, in the deadliest of a series of attacks at Christmas. The coordinated nature of the attacks suggested links between the...
(BBC News Africa 04/18/13)
Nigerian President Goodluck Jonathan has set up a new committee to look at how an amnesty for the Islamist group, Boko Haram, can be implemented. The committee will consider a 60-day timeframe for dialogue and disarmament, according to a statement from the president's office. It will also look into support for victims of the violence. The Boko Haram insurgency in Nigeria has left thousands of people dead since it began in 2009. The presidential committee, whose 25 members include military figures, academics and politicians, will try to address the underlying causes of insurgencies to prevent them recurring, says the statement. In addition, President Jonathan has approved the establishment of another government committee on the proliferation of small arms in an...
(Standard Digital 04/17/13)
Nigerian authorities charged two journalists with forgery on Tuesday over a story in which they accused President Goodluck Jonathan of launching a dirty tricks campaign against the opposition. Tony Amokeodo and Chibuzor Ukaibe, reporters for local daily Leadership, were detained last week after reporting that Jonathan had issued orders to frustrate a newly potent opposition by any means, including surveillance, ahead of 2015 presidential elections. They were later released. The story did not say to whom the directive was addressed, but it came complete with a document alleged to be a directive from the president. A court in the capital Abuja read out the charges of forging a presidential directive, which carry a maximum of seven years in prison and...
(Reuters (Eng) 04/17/13)
(Reuters) - Nigerian President Goodluck Jonathan signaled on Wednesday he would consider offering an amnesty to Islamist militant group Boko Haram, in an effort to end an insurgency that has killed thousands. "Goodluck Jonathan has approved the constitution of a Presidential Committee to constructively engage key members of Boko Haram and define a comprehensive and workable framework for resolving the crisis of insecurity," his office said in a statement. Boko Haram, a group fighting to create an Islamic state in religiously mixed Nigeria, has become the greatest threat to stability in Africa's biggest oil exporter and most populous country, since an uprising in 2009. The group mostly targets security forces but has attacked several churches, mosques, schools and markets, increasingly...
(Reuters 04/16/13)
(Reuters) - Nigeria's Fidelity Bank said on Tuesday its full-year pre-tax profit jumped to 21.62 billion naira ($136.92 million), from 161 million naira in the previous year, the bank said in a statement to the Nigerian Stock Exchange. It gave no reason for the increase, but Fidelity is one of several banks that have posted strong results for 2012, after a lacklustre 2011 mostly caused by write offs of bad debts across the sector. Gross earnings rose to 78.99 billion naira, from 49.53 billion naira in 2011, the bank said. It also declared a dividend of 0.21 naira per share, compared with 0.14 naira per share previously. ($1 = 157.9 naira) (Reporting by Oludare Mayowa; Editing by Tim Cocks)
(Reuters (Eng) 04/16/13)
The Nigerian operation of United Arab Emirates phone operator Etisalat ETEL.AD plans to invest $500 million to expand its network this year, its commercial officer said on Thursday. Wael Ammar also told the Reuters Africa Investment Summit that the company plans to use local banks to finance future network expansion and growth in the coming years. The new investments will enable the mobile phone carrier grow the market share of Etisalat Nigeria, which is 40 percent owned by its parent company, to 17 percent this year, he said. It aimed to add four million subscribers to its existing 15 million this year, he said. The company currently has a mobile market share of 15 percent, behind MTN (MTNJ.J)'s 43 percent...
(Reuters (Eng) 04/15/13)
Sub-Saharan Africa's economic growth should accelerate to more than 5 percent over the next three years, far outpacing the global average, but the region must do more to convert this into reducing poverty, the World Bank said on Monday. In its latest Africa's Pulse analysis of prospects for the region, the bank saw increased investment, high commodity prices and a pick-up in the global economy driving this expected growth surge in the world's poorest continent. It said foreign direct investment (FDI) inflows to Sub-Saharan Africa were projected to increase to record levels each year over the next three years, reaching $54 billion by 2015. This compared to $37.7 billion in 2012, a 5.5 percent increase in a year when FDI...
(Reuters (Eng) 04/10/13)
Carlyle Group (CG.O) is looking at a number of banks in east and west Africa for a potential investment, its Africa co-head said on Wednesday, as the U.S. private equity firm focuses on the continent's growing consumer market. Carlyle, which last year invested in a pan-African grain trading firm, has recently signed a second deal, Marlon Chigwende also told the Reuters Africa Investment Summit. "Banking is very interesting today, and that is the general statement across a lot of sub-Saharan Africa," Chigwende told the Reuters Africa Investment Summit in Johannesburg. "Certainly, there are several opportunities of fast-growing banks, good management teams, interesting market positioning." Although private equity is still at a nascent stage in Africa, investor interest in the fast-growing...
( 04/10/13)
The Africa Development Bank (AfDB) has launched a a multi-country and multi-partner project which seeks to increase food security and improve the income and living standards of small-holder farmers in the 20 African countries by improving the value chains of four important staple crops – maize, wheat, cassava and rice. The project targets to demonstrate by 2016, that it is possible to increase the yields of cassava, maize, rice and wheat by at least 20% on smallholders’ farms, increase the smallholder’s household cash income to $600 from the current $370 and increase food security by at least 20% to 84% from the present 73%. According to media statement from the implementing agency, International Institute of Tropical Agriculture (IITA), key stakeholders...
(BBC News Africa 04/10/13)
Nigeria's security forces have recovered the bodies of 11 of the 12 policemen killed in the oil-rich Niger Delta on Friday, police have said. Some of the bodies had been mutilated and burnt beyond recognition, AFP news agency quoted witnesses as saying. Last week, a militant group said it would it resume attacks after its leader, Henry Okah, was jailed for a bombing campaign in 2010. The oil-rich region is vital to Nigeria's economy. However, many people are poor, fuelling resentment towards the national government and oil companies. At the weekend, the Movement for the Emancipation of the Niger Delta (Mend) said it had ambushed a police boat in the creeks and waterways of Bayelsa state, killing the policemen. Police...
(Reuters 04/09/13)
In the time it takes to read this article, Nigeria will have added 50 people to its population, or about 11,000 a day. While some see these new consumers feeding an engine of prosperity, others fear they will create a crisis of poverty and unrest. By 2050, the global Population Reference Bureau (PRB) projects it will be the world's fourth most populous country, with 400 million people - just less than the projected figure for the United States, but with only a tenth of its territory. While Africa's most populous nation has long had business leaders salivating over its potentially huge market, especially retailers of fast-moving consumer goods, it is not clear whether it can turn a growing population -...
(The Associated Press 03/28/13)
LAGOS, Nigeria (AP) -- A British man abducted in Nigeria's largest city has been released by his kidnappers, a police spokeswoman said Thursday, as other foreigners have been kidnapped in the country's commercial capital in recent days. The release of the British citizen comes after three Lebanese citizens were also kidnapped. Abductions of foreigners remains common in Nigeria for political reasons or cash ransoms, but such kidnappings remain rare in Lagos and could spark more fears among investors and workers in a nation facing increasing insecurity with extremist attacks across its north. The man, who authorities said was abducted Saturday likely while coming home from a nightclub in Victoria Island, was freed unharmed, said Ngozi Braide, a Lagos state police...
(Reuters (Eng) 03/27/13)
Clashes between rival ethnic groups in central Nigeria killed at least 27 people on Wednesday, witnesses said, in a region straddling the country's largely Christian south and mostly Muslim north that is prone to civil unrest. Witnesses said armed Fulani herdsmen attacked the villages of Da Jak and Attakar in Plateau state in the early hours, spraying residents with automatic gunfire and torching houses. "They came at night and overran the village. They were shooting people, just murdering, and burned down the houses," villager Dung Sati told Reuters. "Many of my kinsman have stayed away because they are homeless now." On his return he counted 27 bodies, he said. Another witness who fled the scene of the attack, Pam Samuel,...
(Reuters (Eng) 03/26/13)
"BRICS, Don't Carve Africa" reads a banner in a church hall in downtown Durban where civil society activists have gathered to cast a critical eye at a summit of five global emerging powers. The slogan evokes the 19th Century conference in Berlin where the predominant European colonial states carved up the African continent in a scramble historians see as epitomizing the brash exploitative capitalism of the time. Decades after Africans threw off the colonial yoke, it is the turn of the blossoming BRICS group of Brazil, Russia, China, India and South Africa to find their motives coming under scrutiny as they proclaim an altruistic-sounding "partnership for development, integration and industrialization" with Africa. Led by that giant of the emerging powers,...
(Reuters (Eng) 03/26/13)
A South African court sentenced suspected former Niger Delta rebel leader Henry Okah to 24 years in jail on Tuesday for masterminding two deadly car bombings in the Nigerian capital in 2010, officials said. The bombs killed at least 10 people during Independence Day celebrations in Abuja. Okah was convicted in January on 13 counts, including conspiracy to commit terrorism and detonating explosives. Okah, who denies any leadership role in the Movement for the Emancipation of the Niger Delta (MEND), moved to South Africa after Nigeria issued an amnesty for members of the guerrilla group in 2009, lifting charges of gun-running and treason against him. The South African court tried Okah under counter-terrorism laws that cover crimes committed outside the...
(Reuters (Eng) 03/26/13)
President Barack Obama hosts the leaders of four African nations this week, all of which are cited in a new report for effectively increasing spending on agriculture to combat extreme poverty and hunger. The report by the ONE Campaign, an anti-poverty group co-founded by Irish rockers Bono and Bob Geldof, said Senegal, Malawi, Cape Verde and Sierra Leone either met or were close to meeting targets for increased budget spending on agriculture. All of the countries, except Cape Verde where there is little data, are also on track or close to meeting a U.N. target of halving extreme poverty by 2015, the report said. The African leaders will visit the White House on Thursday to showcase their fledgling democracies, but...
(The New York Times 03/26/13)
BEIJING — As President Xi Jinping of China continues his first overseas trip as his country’s leader, arriving in South Africa late on Monday after Russia and Tanzania, he meets with much goodwill – but also some concern among Africans that China may be a “new colonial power,” extracting resources and selling manufactured goods, as I reported on Sunday. China knows it. In a speech in Tanzania, Mr. Xi sought to calm the concerns, as my colleagues Chris Buckley and Jeffrey Gettleman reported. “China frankly faces up to the new circumstances and new problems in Sino-African relations,” Mr. Xi told an audience of Tanzanian politicians and officials in Dar es Salaam, the country’s economic hub and a center of government,...
(The Zimbabwe Mail 03/22/13)
NIGERIA’S stock market regulator said it has suspended Ecobank from all capital market activities because of irregularities surrounding a loan. Ecobank runs a subsidiary in Zimbabwe, previously Premier Finance Group which it acquired in December 2010 after injecting $10 million for recapitalisation which gave it 70% ownership. The Securities and Exchange Commission (SEC) of Nigeria said an Ecobank client Arian Capital Management had used capital from another company without that company’s permission as collateral for a loan from Ecobank. After suspending Arian, the SEC said it had asked Ecobank for an explanation, but the bank did not reply. “The suspension is as a result of the role played by the bank in a complaint by Avil Services Ltd relating to...
( 03/19/13)
Activities on the Nigerian Stock Exchange (NSE) for the second consecutive day ended on the bullish trend on Tuesday with the All-Share Index appreciating by 0.17 per cent. The News Agency of Nigeria (NAN) reports that the index rose by 55.21 points to close at 33,298.74 against the 33,247.53 achieved on Monday. Similarly, the market capitalisation appreciated by N18 billion or 0.17 per cent to close at N10.66 trillion compared with N10.64 trillion posted on Monday. Lafarge WAPCO topped the gainers' table with a gain of N3.79 to close at N76.79 per share. Okomuoil came second with N2 to close at N59 while Cadbury gained N1.40 to close at N35.10 per share. Nigerian Breweries and CAP rose by 91k each...
( 03/19/13)
Five bidders have so far paid a total of $156.50 million to the Federal Government being the mandatory 25 per cent of the bid value of the PHCN Successor Companies they have indicated interest to acquire. A statement from the Bureau for Public Enterprises (BPE) indicated that Amperion Power Company Limited, the preferred bidder for Geregu Power Plc has paid $33 million, Integrated Energy Distribution & Marketing Company, the preferred bidder for Ibadan and Yola Distribution Companies paid $42.25 million and USD$14.75 million for Ibadan and Yola Discos respectively, NEDC/KEPCO, the preferred bidder for Ikeja Distribution Company, $ 32.75 million; and West Power & Gas, the preferred bidder for Eko Distribution Company $33.75 million. This is coming ahead of the...

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