The Economic and Financial Crimes Commission (EFCC), Nigeria’s corruption watchdog, has initiated a full-scale investigation into a $2.9 billion refinery rehabilitation fund scandal, uncovering over ₦80 billion in accounts linked with the recently sacked Managing Director of a major refinery. EFCC initiates full-scale investigation into a $2.9 billion refinery fund scandal in Nigeria Uncovered over…
Middle Eastern countries have either shown interest in or secured deals worth at least $6 billion in African energy assets in recent weeks, showing the region’s growing investment appetite on the continent. Middle Eastern countries are investing $6 billion in African energy assets. Gulf states diversifying oil and gas portfolios in Africa to buffer against…
In 2024, the Central Bank of Nigeria recorded a 13.9 trillion naira ($9 billion) loss from settling overdue derivatives contracts as part of efforts to reduce its foreign currency liabilities and rebuild investor confidence in the naira. Central Bank of Nigeria recorded a 13.9 trillion naira ($9 billion) loss from settling overdue derivatives contracts in…
Nigeria’s Department of State Services (DSS) has arrested a Marxist activist and leader of the Talakawa Parliament, Comrade Kola Edokpayi over his involvement in organizing a rally in support of Burkina Faso’s junta leader, Captain Ibrahim Traoré. Marxist activist and leader of the Talakawa Parliament, Comrade Kola Edokpayi, arrested by Nigeria’s DSS Arrest stems from…
Starlink, a satellite internet service owned by the American Billionaire Elon Musk, has announced a price increase of its monthly subscription in Nigeria. Starlink has announced a price increase for its satellite internet service in Nigeria The new price increase for monthly subscription will be effective from May 30, 2025 Existing users will see the…
Ibrahim Traoré is a Burkinabè military commander and the transitional president of Burkina Faso. Ibrahim Traoré became the transitional president of Burkina Faso after a military coup in September 2022. Under Traoré’s administration, Burkina Faso has pursued a revolutionary and anti-colonial agenda, expelling French soldiers and strengthening ties with Russia. Burkina Faso has nationalized its…
Zambia and Zimbabwe are stepping up efforts to attract investment for the long-stalled $5 billion Batoka Gorge hydropower project by reviving a controversial proposal to source water from the Democratic Republic of Congo. Zambia and Zimbabwe are reviving efforts to attract investment for the Batoka Gorge hydropower project. They are aiming to engage investors for…
The Democratic Republic of Congo announced on Friday that it has granted a license to Elon Musk’s Starlink, making it the latest African country to approve the satellite internet service. The Democratic Republic of Congo has granted a license to Elon Musk’s Starlink for satellite internet service. Only about 30% of the Congolese population has…
Farmers who escaped the violence in the Democratic Republic of the Congo’s eastern region, between the Congolese army and M23 Rebels, now face the ongoing insecurity challenges as they attempt to return to their farmlands. 1.2 million people fled their homes in North and South Kivu provinces since January due to fighting between Congolese army…
