Parliament Fumes as Nigerian Govt Mortgages Country’s Sovereignty to China

Parliament Fumes as Nigerian Govt Mortgages Country’s Sovereignty to China Transport Minister blackmails parliament with threat of China withholding loans if probe continues July 29, 2020 The House of Representatives on Tuesday raised alarm over lethal clauses in Article 8(1) of the commercial loan agreement signed between Nigeria and Export-Import Bank of China which allegedly…

Ramaphosa, MTN Targets of Nigerian Bank Forex Investigation

Ramaphosa, MTN Targets of Nigerian Bank Forex Investigation by LIONEL FAULL, SUSAN COMRIE, SAM SOLE, FINANCE UNCOVERED AND AMABHUNGANE President Cyril Ramaphosa could be drawn into a forensic probe initiated by the Nigerian government into alleged foreign exchange violations by banks acting on behalf of SA telecommunications giant MTN. Ramaphosa’s former investment holding company, Shanduka,…

How Nigeria’s Oil Industry Went Local: The Unintended Benefits of Graft

How Nigeria’s Oil Industry Went Local The Unintended Benefits of Graft By Matt Mossman The biggest real-estate foreclosure in Manhattan’s history began with a Nigerian jet-fuel binge. Kola Aluko, now in hiding from the authorities of multiple countries, allegedly spent so much money on jet fuel that he could no longer pay the mortgage on his Midtown penthouse,…

FMCGs in Nigeria–Profitable Strategies in Harsh Economic Times

Fast Moving Consumer Goods (FMCGs) such as Unilver (UNILEVER:NL) and PZ have adopted various measures to remain profitable in the current harsh economic climate. Unilever has opened a factory to manufacture butter in the country, and begun sales of retail packages for its tea and seasoning cubes. Other competitors such as Nestle and PZ Cussons (PZ:NL)…