Category: West Africa

A year before his wedding, Jude Egharevba was overjoyed when he bought a plot of land to build a house for him and his fiancee on the outskirts of Lagos, Nigeria’s commercial capital. But his joy was short-lived, after a group of young men stormed his land and demanded cash to leave peacefully. The same…

n Nigeria, there are an estimated 37 million micro, small, and MSMEs and their contribution to economic growth and job creation is significant. However, many of these smaller businesses struggle to gain access to the capital they need to grow and prosper since they lack traditional collateral such as land and buildings. In May 2016,…

Kano State Governor, Dr Abdullahi Ganduje, has approved the appointment of Mrs Aisha Bello Muhammad as the Accountant General of the state. She is the first woman to be appointed to the position in the 49 years history of the state. The state information commissioner, Muhammad Garba, in a statement, said Mrs Muhammad’s appointment was…

The federal government has approved the release of N9.8bn to fight wild polio resurgence in the country, especially in the North East. The minister of Health, Prof Isaac Adewole, who disclosed this at a press briefing in Abuja, yesterday, said the money would be released by Monday. This is just as he said Nigerian pilgrims…

A group of private equity investors led by rock star Bob Geldof have acquired a minority stake in Nigerian biscuit maker Beloxxi Industries Limited for $80 million to help the company expand, they said on Monday. Geldof’s fund 8 Miles, which plans to acquire more stakes in African companies before the end of the year,…

The Naira, yesterday, depreciated against the dollar at the parallel market, just as crude oil price hit five-week high, gaining about 10 per cent in a three-day rally to close at $48.05 as speculations intensified over potential producer action to support prices amid a crude glut. Data from market intelligence firm, Genscape, estimating a draw…

Kano lawmaker, Abdulmumin Jibrin, on Saturday called on anti-corruption agencies in the country to probe widespread acts of money laundering in the House of Representatives, saying the pattern has become entrenched in the lower chamber. Mr. Jibrin said there was no better time for the authorities to revive pending money laundering cases than now. “The…

A group under the aegis of Ijaw Community Association has called on the various Niger Delta militant groups to embrace peace and dialogue with the federal government, saying renewed agitation in the region have added more difficulty to the already ailing economy. The group said the activities of various militant groups, who have been blowing…