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Nigeria

Cross-cutting ties

Nigeria’s Access Bank acquires Kenya’s Transnational Bank — and its murky past

Amid reports that Kenya’s second and longest-serving president, Daniel Arap Moi is on life support, a Nigerian bank has acquired a Kenyan bank ... associated with his family.

Common cause

A new case for a Commonwealth based on trade

The United Kingdom’s exit of the European Union (EU) is now all but certain. ...

Scam artists

Nigeria: how fake representatives of a Qatari sovereign wealth fund fooled oil explorer Lekoil

A fraudulent loan and a bogus consultancy firm have put a damper on Nigerian oil producer Lekoil which, since it discovered and announced the ... fraudulent nature of an $184m loan arrangement with the Qatar Investment Authority, has suffered heavy losses on the London Stock Exchange, where its market cap fell £35m ($45.6m) in less than a week.

faux pas

Anglophone West Africa kicks back at use of Eco to replace CFA franc

The decision to call the CFA franc replacement currency the 'Eco' has caused a major rift in the region - and underlines the struggle between ... Nigeria and Côte d'Ivoire for regional influence.

Diminishing returns

Nigeria’s pension industry squeezed as risk outlook for banks worsens

The worsening risk outlook for Nigeria’s banks may further restrict the limited investment options open to the country’s pension industry ... and hamper its growth.

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Delayed not Solved

Nigeria: MTN tax bill case may not be over just yet

Foreign investors are yet to be convinced that MTN Nigeria’s tax dispute with the government has been resolved – or that Nigeria is about ... to provide clear and transparent corporate taxation.

down beat

Moody pessimistic on sub-Saharan Africa

Despite a slight recovery in growth, the Moody's agency considers sub-Saharan Africa to be too indebted to cope with possible external commercial, ... financial or climatic shocks.

free airtime

South Africa’s MTN finally freed from $2bn Nigeria tax obligation

Nigeria's attorney general cancelled on 10 January a $2bn demand issued a year ago against the telecommunications operator for unpaid taxes. ... The dispute was one of the last cases to be settled for MTN in the country.

Talking with the Taxman

Nigeria’s tax reform to encourage restructuring, small business

Nigeria’s most far-reaching tax reform in 20 years will facilitate corporate restructuring and ease the burden on small business – while ... leaving the scope for private arrangements with tax inspectors untouched.

do the maths

Behind the hype, is Dangote’s refinery a game changer?

In December 2019, an ambitious refinery project in the remote Ibeju-Lekki suburb of Lagos, Nigeria, took delivery of the world’s largest single ... crude distillation column, to much fanfare.

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