Friday 18 August 2017
(AFP (eng) 08/17/17)
Gunmen attacked Nigeria's main anti-corruption taskforce on Wednesday and left behind a death threat for a top investigator, the Economic and Financial Crimes Commission said in a statement. The attack on the Abuja base of the organisation which seeks to combat the oil-rich country's rampant graft comes just weeks after unidentified assailants shot and injured another investigator in Port Harcourt, in southeast Nigeria. "The group of heavily armed bandits invaded the office at about 5 am and began shooting into the premises, damaging vehicles," the commission's head of media, Wilson Uwujaren, said in a statement. "However, the attack was repelled by guards on duty." "A white envelope dropped by the fleeing
(Bloomberg 08/17/17)
Africa’s richest man, Aliko Dangote, plans to invest $20 billion to $50 billion in the U.S. and Europe by 2025, in industries including renewable energy and petrochemicals. The 60-year-old Nigerian cement tycoon aims to move into these territories for the first time in 2020 after completing almost $5 billion of agricultural projects and an $11 billion oil refinery in his home country, he said in an interview with Bloomberg Markets Magazine this month. “Beginning in 2020, 60 percent of our future investments will be outside Africa, so we can have a balance,” said Dangote, worth $11.6 billion, according to Bloomberg’s Billionaires Index. Dangote Group’s major investment will be in the U.S. and Europe, he said. “I think renewables is the...
(BBC News Africa 08/17/17)
Nigeria international Ogenyi Onazi has been denied a work permit to play for English Championship side Birmingham City. Birmingham had agreed terms with the 24-year-old to sign him from Turkish club Trabzonspor. However the Football Association turned down a first application for a work permit for Onazi last week. An appeal made by the club was rejected on Wednesday despite Onazi being a regular in the Nigeria national team. BBC Sport understands that the player and his representatives are bitterly...
(Bloomberg 08/16/17)
Nigeria has started a $41 billion railway expansion to reduce dependence on oil and diversify its struggling economy by improving transport links to allow the movement of goods around the country and to ports. “The plan we have now will go to every nook and corner,” Transport Minister Rotimi Amaechi, 52, said in an interview in the capital, Abuja. Africa’s biggest oil producer is going through its worst economic slump in 25 years following a plunge in the price and...
(Bloomberg 08/16/17)
The Islamist-militant group Boko Haram killed 27 people and wounded more than 80 others in an attack on a market on the outskirts of Maiduguri, capital of the northeastern state of Borno. Members of the militia group simultaneously detonated several improvised explosive devices in the attack that took place on Tuesday, Hassan Ibrahim, a member of a vigilante group, said by phone. Nigeria on Tuesday deployed 2,000 special forces to battle the militant insurgency, which is aimed at imposing Boko...
(Voice of America 08/16/17)
Since April, Boko Haram has carried out more than 100 attacks in Nigeria's northeastern city of Maiduguri. Efforts are underway to secure the city, including the relocation of military chiefs to Maiduguri, and to tighten security at the university after staff abductions and repeated suicide bombings. In the past week, the Nigerian military has carried out a cordon-and-search operation for fleeing Boko Haram members. The head of the operation said more than 30 houses were searched, based on information that...
(Bloomberg 08/14/17)
Nigerian President Muhammadu Buhari, in London on medical leave for more than three months, said his health is improving and he hopes to be home soon. “I feel I could go home, but the doctors are in charge,’’ Buhari told his media team, which traveled from Nigeria to visit him, according to a statement Saturday from Femi Adesina, a presidential spokesman. “I’ve now learnt to obey orders, rather than be obeyed.’’ The former general, 74, has been in the U.K...
(Bloomberg 08/14/17)
The U.S. will probably maintain its current levels of aid to Africa despite President Donald Trump’s proposals to slash funding, according to Bill Gates, the world’s richest man. Trump said in May his government would no longer allocate funding for family planning, a move that has the potential to undermine aid programs in the poorest countries in the world. However, with Congress in control of the budget, it’s unlikely that all cuts proposed by the Trump administration will go ahead...
(The New York Times 08/12/17)
The Nigerian military raided a United Nations base early Friday in a city often targeted by suicide bombers. The raid could add tension to the relationship between the two institutions as each struggles to respond to an eight-year-old war with Boko Haram. About 5 a.m. on Friday, soldiers entered a tent camp housing United Nations workers in Maiduguri, the birthplace of the Islamist militancy, and searched it for about three hours, a statement from the United Nations said. The camp...
(Bloomberg 08/10/17)
Nigeria’s economy probably expanded in the second quarter as factory and farming output improved, helping it recover from the first annual contraction in 25 years, Statistician-General Yemi Kale said. “Intuitively, we might be getting out of recession in the second quarter, but I can’t say until all the numbers are in,” Kale, who is also chief executive officer of the National Bureau of Statistics, said in an interview Wednesday at his office in Abuja, the capital. “If it doesn’t happen...
(Bloomberg 08/10/17)
Nigeria’s anti-graft agency said it traced at least $615 million of allegedly illegally acquired cash and properties to the West Africa nation’s former oil minister, Diezani Alison-Madueke. In addition to “boxes of gold, silver and diamond jewelry, worth several million pounds” found at her residence, the Economic and Financial Crimes Commission identified more than a dozen buildings across the country worth more than $500 million owned by the former minister, the agency said in a statement on its website on...
(Voice of America 08/09/17)
The thick-set 23-year-old Nigerian woman exudes strength, keen to overcome what she suffered in Libya and Italy before she escaped from the shadows in Rome and jumped on a train heading for Ancona on Italy’s Adriatic coast. Not that she knew the train’s destination before boarding — she just wanted to flee her tormenters, run from beatings and sexual abuse. But it will take longer than a three-and-half-hour railway trip to forget the torments of the past. Anna (the name...
(Bloomberg 08/08/17)
Nigeria’s foreign-exchange market is starting to see the unification that bond and stock investors have been calling for. The naira weakened 13 percent against the dollar last week on the main interbank market after monetary officials told lenders to start quoting trades made in the so-called Nafex currency window that was opened for investors in April. The drop in the naira has almost wiped out the spread with the black-market rate. By Paul Wallace
(Voice of America 08/04/17)
The Trump administration has approved a $600 million sale of high-technology attack planes and equipment to Nigeria despite ongoing human rights concerns. The Pentagon said Thursday that the State Department had approved the sale and notified Congress, which has 30 days give its go-ahead. The deal includes 12 A-29 Super Tucano planes, which are described as light attack planes. The U.S. Defense Security Cooperation Agency said the aircraft would support Nigerian military operations against Boko Haram and Islamic State terrorists...
(Voice of America 08/04/17)
Father Carlo Ladicicco, a 65-year-old Catholic priest could be enjoying retirement after 35-years as a missionary in a remote region of Peru. Instead he is using his pension to subsidize his pastoral outreach to some of the poorest and most exploited African migrants in Italy — just a 40 minute drive from his birthplace in the country’s southern region of Campania. Sitting in his cramped, sparsely furnished rented bungalow decorated with keepsakes from his decades in the Peruvian jungle, the...
(Bloomberg 08/04/17)
Nigeria missed its best chance in 13 months to overtake Egypt in stock-market capitalization as an expansion of the new foreign-exchange window spurred a plunge in the naira. The Lagos market lost $6.5 billion on Tuesday, or 16 percent of its market value, after banks started quoting the naira using a trading window for foreign investors rather than the interbank rate. That wiped out the gains made in the past two months during a rally spurred by investor optimism on...
(Bloomberg 08/03/17)
Nigeria took a step to unify its multiple exchange rates by allowing banks to use a currency window for investors when quoting the naira rather than the official rate. The naira weakened on the interbank market. FMDQ OTC Securities Exchange, the Lagos-based platform that oversees interbank trading, asked lenders this week to publish quotes reflecting trades in the Investors’ & Exporters’ FX Window, according to Ecobank Transnational Inc. and Access Bank Plc. The window was opened in late April in...
(Bloomberg 08/02/17)
Negotiators representing militants in Nigeria’s oil region in talks with the government said they’ll pull out of the process if some demands aren’t met by November, accusing President Muhammadu Buhari’s administration of not doing enough for peace. The efforts of the group, known as the Pan-Niger Delta Forum, “to help Nigeria climb out of recession through stable oil and gas production have not been met with tangible reciprocal action by the federal government,” Edwin Clark, its leader, said in a...
(Bloomberg 08/02/17)
Julien Ochala can’t live without his morning cup of Joe. But not just any coffee will do. For the past five years, the 37-year-old physiology lecturer at King’s College London has visited the same store every week to grab a pack of his beloved Kenyan brew. And he’s not put off by the cost: at 37 pounds a kilogram ($22 a pound), it’s more than double a similar supermarket product. "I take Kenyan coffee every morning," said Ochala, who buys...
(Voice of America 08/01/17)
The African Union Peace and Security Council has urged Cameroon to ensure the repatriation of Nigerian refugees fleeing Boko Haram is done on a voluntary basis. Hundreds of refugees, most of them children, complain they are thirsty and hungry as they leave Cameroon on their way back to Nigeria. They are escorted by troops from the multinational joint task force fighting the Boko Haram insurgency. Cameroon Red Cross official Joseph Guisso is among the humanitarian staff accompanying the refugees. He...

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