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Inner Circle
Future Africa fund and Nigeria's golden youth seek Lagos Valley investors

With investors pulling out left, right and centre amid the Covid-19 pandemic, financier Iyinoluwa Aboyeji and his well-to-do partners at Future Africa are looking to Lagos' affluent circles for new sources of cash.

Subscribers only Finance, Business 19.05.2020

The NAF ATR 42-500 MP reconnaissance aircraft immobilized in Germany at RAS.© Jürgen Coenen/Planespotters.net

Covid-19: Air force maritime patrol plane grounded at RAS plant in Germany

Rheinland Air Service (RAS) has completed maintenance work on one of the Nigerian Air Force's two ATR 42-500 MP surveillance aircraft. The aircraft has been prevented from leaving Germany by the Covid-19 epidemic, just as the NAF needs to intensify maritime surveillance operations and the fight againt Boko Haram.

Subscribers only Defence, Business 18.05.2020

Minister of State for Petroleum Timipre Sylva.© Reuters

Oil minister Sylva works behind scenes for quick sale of Shell, Exxon, Chevron, Total marginal fields

Nigeria has finally embarked on a sell-off of oil fields no longer wanted by oil majors, but the timing is terrible.

Subscribers only Energy 14.05.2020

Anti-piracy: Delays in Deep Blue throw lifeline to Ocean Marine Solutions

One of the 42 vessels operated by the private security firm OMS.© OMS

Subscribers only Defence, Business 14.05.2020

BNP gives up on idea of single buyer for its West African portfolio

After six months of trying to sell its branches in Mali, Burkina Faso and Guinea as a single West African portfolio, the French bank BNP Paribas is now looking at options to sell them in batches.

Subscribers only Finance, Business 14.05.2020

WAPP sets up task force for Dorsale Nord project

The West African Power Pool (WAPP) cooperation working to provide a reliable power grid for the region hopes to soon be making headway on the Dorsale Nord interconnector project.

Subscribers only Energy, Business 13.05.2020

In Focus
The ghost of Enron returns to haunt yacht once owned by former oil minister Alison-Madueke's trader pals

The Galactica Star super-yacht was a symbol of the excesses of former Nigerian oil minister Alison-Madueke, who Nigeria is trying to have extradited from London. It is now at the heart of a battle between Washington, Abuja and a surprise ghost from the past, former Enron group subsidiary Enron Nigeria Power Holdings.

Subscribers only Energy 11.05.2020

The Galactica Star. The proceeds of the yacht's sale are claimed by Nigeria, the US and former Enron men.

Covid-19: Paris works closely with NGOs to develop its health diplomacy

To lay the groundwork for its medical support to African states affected by the Covid-19 pandemic, the Elysée Palace has set up a coordination cell with eight hand-picked NGOs.

Subscribers only Diplomacy 06.05.2020

French President Emmanuel Macron and Minister of Foreign Affairs Jean-Yves Le Drian in videoconference on the Covid-19 crisis on 4 May 2020.

First fraud then Covid-19: Lekoil's leaders take fright

In the wake of the Qatar Investment Authority "fake loan" and the global health crisis, several senior executives have deserted the Nigerian junior oil company Lekoil, leaving just a hardened few behind.

Subscribers only Energy 04.05.2020

ExxonMobil's African business slumps

Although it has recently invested in offshore drilling in the Gulf of Guinea, the Western world's biggest oil company is on a downward slide.

Subscribers only Energy 04.05.2020

BCEAO could prove a hurdle for rapper Akon's African cryptocurrency

The "revolutionary" Akoin cryptocurrency that the American rapper Akon is hoping to launch on the continent seems to pay little heed to Africa's existing regulations on digital currencies and may fall foul of African central banks, not least BCEAO.

Subscribers only Finance, Business 27.04.2020

Rapper Akon presenting his Akoin cryptocurrency at the Lisbon WebSummit in November 2019.

G5 Sahel: virtual summit on April 28

The president of the European Council will discuss EU support for the regional body with the heads of its five member states via videoconference on April 28.

Subscribers only Diplomacy 24.04.2020

Death of Buhari's chief of staff set to ignite bitter oil turf war

Over five years, Nigerian president's chief of staff Abba Kyari managed to get a lock on the country's oil institutions. His death from Covid-19 will unleash fierce succession battles.

Subscribers only Energy 24.04.2020

FTI Consulting, Citigroup, Ashurst - embattled Seplat calls on galaxy of consultants for back-up

After being downgraded by several rating agencies as a result of its acquisition of the struggling junior Eland Oil & Gas, Seplat Petroleum is hoping its advisors will help raise its credibility.

Subscribers only Energy 23.04.2020

NAPIMS tussles with oil majors Shell/ExxonMobil/Total over cost-cutting

NNPC's local content arm is trying to keep the oil sector profitable by imposing severe cuts in international companies' expenditure, to the detriment of their Nigerian partners.

Subscribers only Energy 21.04.2020

African bankers Thiam, Kaberuka, Onkojo-Iwelea reinvent themselves as debt reduction crusaders

In a response to the Covid-19 pandemic, a small group of financiers are lobbying intensely to get holders of African eurobonds to postpone their redemption dates for two years. The campaign is as advantageous for those waging it, however, as it is for its potential beneficiaries.

Subscribers only Finance, Politics 16.04.2020

Kyari barons put Ewubare and Baru's men on NNPC backbench

Eight months after taking over the helm of NNPC, Kyari has ejected several directors that had joined the firm while his predecessor Maikanti Baru was still pulling the strings.