NIGERIA’S BUDGET GOES MISSING FROM SENATE

Copies of Nigeria’s 2016 budget have gone missing from the country’s parliament, according to reports. The BBC reported that an anonymous Nigerian MP said that hundreds of copies of the budget—which President Muhammadu Buhari delivered on December 22, 2015—had gone missing from the upper house of Nigeria’s parliament, delaying deliberations on the budget that were scheduled to begin on Tuesday. […]

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Nigeria Introduces Circuit Breaker as Stocks Extend Slide

Nigeria’s stock exchange introduced a circuit breaker to limit price swings as equities in Africa’s biggest oil producer plunged the second-most among global stock markets this week. Trading on the Nigerian Stock Exchange will be stopped for 30 minutes if the All Share Index moves 5 percent from the previous day’s close between 10:15 a.m. and 1:45 p.m., the Lagos-based […]

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6 Killed as Opposition Wins Election for Governor in Nigeria

Militants from opposing political parties killed two soldiers and four police officers in shootouts after the governor of Nigeria’s oil-rich Bayelsa state was declared the winner of elections there, an election monitor said Monday. Saturday’s election was a rerun because of violence, ballot box theft and fraud that marred Dec. 5 balloting. Incumbent Governor Dickson Seriake of the People’s Democratic […]

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Nigeria: Central Bank Cuts Dollar Supplies to Bureaux De Change As Currency Crisis Worsens

A street vendor carries her goods across a newly constructed bridge in Abuja, Nigeria. George Osodi/Bloomberg Nigeria’s central bank has announced that it will halt all US dollar sales to bureau de change operators, as the country struggles to cope with a crippling shortage of hard currency. Under the new measures, Nigerian banks will also be able to accept dollar […]

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Nigerian Billionaire Abdulsamad Rabiu Sells Flour Milling Business For $275 Million

BUA Group, one of Africa’s largest food and infrastructure conglomerates, has sold its flour business to Olam International of Singapore for $275 million. Speaking at the signing ceremony over the weekend in Lagos, Nigerian billionaire Abdulsamad Rabiu, founder and Executive Chairman of BUA Group, said that even though BUA Flour Mills had become one of the largest and most efficient […]

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Nigeria Plans to Resettle 2.2M People Despite Boko Haram Threat

Nigeria is risking the lives of millions of displaced civilians by planning to return them to communities vulnerable to attack by Islamist terrorists, experts warn. The government says it has all but defeated Boko Haram, the ISIS-allied group that was involved in the slaughter of 11,000 people last year and ranks among the world’s deadliest terror organizations. President Muhammadu Buhari […]

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