NewsWest Africa

Fri,24Nov2017

West Africa

Nigeria moves towards border controls on hard currency

Oct. 20, 2015; ,money changer counts Nigerian naira currency at a bureau de change in Lagos, Nigeria. Photo: Sunday Alamba/AP/SIPAA draft law to ease a dollar shortage by restricting movement of hard currency in and out of Nigeria passed its second parliamentary reading on Wednesday.

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African Development Bank says could consider $400 mln loan for Nigeria

Money from the AFDB would be redirected to specific projects in Nigeria. In this photo, Felix Okilo clears refuse at the back of his wooden house in the Ajegunle area of Lagos, June, 2005. Photo: GEORGE OSODI/AP/SIPAThe African Development Bank said on Tuesday it could consider an additional $400 million for Nigeria to support its growth and recovery efforts and was in talks with the government on how to help it reinvigorate Africa's largest economy.

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Chad hires Rothschild to advise on $1 bln Glencore debt - sources

 In this April 14, 2011 file picture the Glencore headquarters in Baar, Switzerland is photographed. Photo: Urs Flueeler/AP/SIPAChad has hired Rothschild & Co to advise it on restructuring its external debt, namely a more than $1 billion loan from oil trader Glencore, four sources familiar with the matter said.

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West African leaders plan shared currency by 2020

Nigerian President Buhari speaks at U.N. headquarters, Sept. 19, 2017. He has urged caution against a shared currency. Photo: Mary Altaffer/AP/SIPAA group of four West African presidents said on Tuesday they planned steps to accelerate the creation of a shared currency for the 15-country ECOWAS bloc by 2020, according to a joint statement.

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Nigeria's NNPC says oil access is "not limitless" for fuel swaps

 In this Nov. 19, 2012 photo, a petrol attendant fills a car at a petrol station in Lagos, Nigeria. As of 24/10/17, the NNPC organisation is focused on ensuring that the country stays wet. Photo: Sunday Alamba/AP/SIPANigerian energy company NNPC is relying heavily on swapping its crude for products such as gasoline as its refineries struggle to run, but an official at the state firm said its access to oil is limited.

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African rulers' weapon against web-based dissent: the off switch

Management student Ndeye Mane Toure, uses an internet meeting site at a cyber cafe in Dakar, Senegal,  2006. Photo: REBECCA BLACKWELL/AP/SIPALong-standing African rulers fearful of popular protest and the use of social media to spread information are using various methods to shut down the internet to overcome their tech-savvy opponents, in a growing threat to democracy and economic activity in some of the world's poorest countries.

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