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Business/Economy

Court Jails Three Oil Thieves In Port Harcourt

JUSTICES S. D. Pam and  A. T. Mohammed of the Federal High Court sitting in Port Harcourt, Rivers State,  convicted and sentenced three oil thieves to three months Community Service  for illegal dealing in petroleum products. The convicts: Illiyasu Ibrahim,…

Absence Of Defence Counsel Stalls Senator Albert Bassey’s Trial

THE money laundering trial of Senator Obong Albert Bassey before Justice Agatha A. Okeke of the Federal High Court, Uyo, Akwa Ibom State was stalled on Thursday October 21, 2021 following the absence of his counsel, Solomon Umoh SAN. Barrister…

Africa Emerging As Car Industry Hub

MOROCCO is an emerging automotive manufacturing hub, while South Africa has a history of carmaking. But multinational vehicle manufacturers are also setting up production plants in Angola, Ethiopia, Ghana, Kenya, Namibia, Nigeria and Rwanda, and locally owned African producers are starting…

China’s Reach Into Africa’s Digital Sector Worries Experts

CHINESE companies like Huawei and the Transsion group are responsible for much of the digital infrastructure and smartphones used in Africa. Chinese phones built in Africa come with already installed apps for mobile money transfer services that increase the reach…

Congo Port Workers Clash With Police Over Unpaid Wages

HUNDREDS of workers from Democratic Republic of Congo’s (DRC’s) state-owned ports company stormed its headquarters on Friday, breaking windows, burning furniture and clashing with police over what they say are more than three years of unpaid wages. The police fired…

Court Restrains Amagba Village From Trespassing On Pastor Ize-Iyamu’s Farmland 

THE Edo State High Court sitting in Benin City has restrained Amagba village from meddling with Pastor Osagie Ize-Iyamu’s farmland in the community. Justice P.A. Akhihiero gave the interim injunction on 21-10-21, in a motion ex-parte filed by Pastor Ize-Iyamu…

EFCC Arraigns Olejeme, Former NSITF Chairman For Over N1Bn Fraud

THE Economic and Financial Crimes Commission EFCC today, Thursday, October 21, 2021 arraigned a former Board Chairman of Nigeria Social Insurance Trust Fund (NSITF) Dr. Ngozi Olejeme before Justice Maryam Hassan Aliyu of the Federal Capital Territory High Court, Jabi…

Otedola Acquires Major Stake In FBN Holdings, As Directors Wade Off Corporate Change

Business magnate and investor, Mr. Femi Otedola, has acquired a material shareholding in Nigeria’s oldest banking group, FBN Holdings (FBNH) Plc. Otedola in a series of secondary market transactions and negotiated deals was confirmed to have acquired more than five…

Sub-Saharan Africa: One Planet, Two Worlds, Three Stories

Sub-Saharan Africa is projected to grow by 3.7 percent in 2021 and 3.8 percent in 2022 – a welcome but relatively modest recovery, suggesting that divergence with the rest of the world will persist over the medium term · As…

USAID Delivers On Prosper Africa Goals With Africa Trade And Investment Programme

USAID Administrator Samantha Power has launched the agency’s new Africa Trade and Investment programme at the African Growth and Opportunity Act (AGOA) Ministerial. The continent-wide programme is USAID’s flagship effort under the Prosper Africa initiative and will expand and accelerate…