Jailed former Nigerian oil state governor James Ibori hid some of his assets in the oil firm Oando and money passed from the company’s accounts to Ibori’s Swiss accounts, a British prosecutor told a court on Monday. Ibori, who governed Delta State from 1999 to 2007 and influenced national politics, […]
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Nigeria naira closes flat as banks short U.S.dlr
Nigeria’s naira traded flat on the interbank market on Monday as lenders exited the U.S. currency to cover their funding needs on the local currency amid tight naira liquidity. The central bank withdraw 242 billion naira from the banking system two weeks ago to enforce a new cash reserve […]
Famous Brand, South African Firm to Acquire 49% Stake in UACN
By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)- South African Firm Famous Brands, leading quick service and casual dining restaurant operator in Africa will acquire 49 percent (49%) stake in UAC of Nigeria Plc (UAC). This is contained in a notice by UAC to the Nigerian Stock Exchange (NSE) and made available […]
