Category: West Africa

The fishing town of Bama has been attacked four times in the past two years. Scores of people have been killed and hundreds of houses have been burned to the ground. As reports filtered in Wednesday that gunmen in Bama were once again shooting people and setting homes on fire, Boko Haram released a video statement saying it plans to widen its reach, to attack oil refineries in the south and continue its assault on Muslim clerics that don’t agree with its harsh interpretation of Islamic law. Analysts say Boko Haram’s continued threats and attacks are a sign that the Nigerian government has failed to stop the more than four-year-old insurgency, despite nine months of emergency rule in three northeastern states. Femi Odekunle, a professor of criminology at the University of Abuja, says, "The government must double its efforts with more men and more resources to contain […]

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The suspended CBN governor, Malam Sanusi Lamido Sanusi, had said that it was ironical for the federal government to accuse him of ‘financial recklessness’ while the account of the Nigerian National Petroleum Corporation (NNPC) has not been audited since 2005, spanning eight years. Sanusi spoke yesterday on Channel Television which was monitored by our reporter while reacting to his suspension by President Goodluck Jonathan. The estranged CBN governor further said he would seek legal redress over his suspension as a way of making future CBN governors independent and free from fear of being suspended in the face of discharging their duties. Speaking further, Malam Sanusi said the president does not have the constitutional backing to remove CBN governors without the approval of the senate. He said: "You cannot go round that section (of the constitution) and say, I am not removing you but I am suspending […]

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Lamido Sanusi was dismissed on Thursday after charging the national oil company with failing to turn over billions of dollars. Stefan Wermuth/Reuters DAKAR, Senegal — President Goodluck Jonathan of Nigeria removed the governor of the country’s central bank from his post on Thursday, after the bank governor repeatedly charged that billions of dollars in oil revenue owed to the treasury was missing. The dismissal of the bank governor, Lamido Sanusi, was seen as further evidence of the Nigerian government’s weakening resolve in tackling widespread corruption, a problem that has plagued the country since independence, analysts said. Mr. Sanusi’s removal was greeted with dismay in financial markets. The country’s stock market fell sharply, bond trading was halted and the value of the Nigerian currency, the naira, plunged to a record low against the dollar before the bank intervened to prop it up. Outside investors had generally seen Mr. Sanusi as […]

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The leader of Nigeria’s Islamic uprising is threatening to attack oil interests more than a thousand miles (kilometers) from the northeastern base where his fighters are accused of killing more than 250 civilians this month. In a new video message, Abubakar Shekau also warns leading Nigerian Muslim politicians and religious and traditional leaders that his fighters will target them for pursuing democracy and Western-style education. He says his struggle to transform Africa’s biggest oil producer into an Islamic state is only just beginning. He says he will destroy oil refineries "in coming days." The warnings come the week Nigeria’s military has defended itself against charges by regional leaders that Shekau’s fighters are better armed and motivated. The video was obtained Thursday by the AP through channels used for previous communications. © 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, […]

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Nigeria is to carry out a forensic audit of the state oil company over an alleged $20 billion subsidy racket that officials say may help explain what happened to $50 billion in oil revenues that the governor of the central bank says is missing. The audit, ordered last week by a Senate committee investigating allegations of corruption in the oil industry of Africa’s second largest economy, could become political dynamite as Nigeria heads into a presidential election in 2015. Nigeria, Africa’s most populous nation and one of its leading oil producers, is considered one of the most corrupt states on the continent, with much of the graft centered on the oil industry, whose revenues provide around 80 percent of the state budget and more than 90 percent of export earnings. The West African country’s "oil and gas industry has proved remarkably resistant to […]

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Nigeria is to carry out a forensic audit of the state oil company over an alleged $20 billion subsidy racket that officials say may help explain what happened to $50 billion in oil revenues that the governor of the central bank says is missing. The audit, ordered last week by a Senate committee investigating allegations of corruption in the oil industry of Africa’s second largest economy, could become political dynamite as Nigeria heads into a presidential election in 2015. Nigeria, Africa’s most populous nation and one of its leading oil producers, is considered one of the most corrupt states on the continent, with much of the graft centered on the oil industry, whose revenues provide around 80 percent of the state budget and more than 90 percent of export earnings. The West African country’s "oil and gas industry has proved remarkably resistant to […]

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North-eastern Nigeria is under emergency rule, but attacks have intensified There are reports of a "massive" attack in northern Nigerian border town of Bama, a day after a presidential spokesman said the army was "winning the war" against Islamist militants. Borno state senator Ahmed Zanna told the BBC the attack on Bama had lasted for five hours on Wednesday morning. On Tuesday, spokesman Doyin Okupe said the military was "on top of the situation". More than 245 people have been killed this year alone by suspected Islamists. Several thousand have lost their lives since Boko Haram began its uprising in 2009. ‘Better armed’ Mr Okupe’s statement contradicted the comments of the governor of Borno state, where Boko Haram was founded. Governor Kashim Shettima called for reinforcements and said the insurgents were "better armed and better […]

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North-eastern Nigeria is under emergency rule, but attacks have intensified There are reports of a "massive" attack in northern Nigerian border town of Bama, a day after a presidential spokesman said the army was "winning the war" against Islamist militants. Borno state senator Ahmed Zanna told the BBC the attack on Bama had lasted for five hours on Wednesday morning. On Tuesday, spokesman Doyin Okupe said the military was "on top of the situation". More than 245 people have been killed this year alone by suspected Islamists. Several thousand have lost their lives since Boko Haram began its uprising in 2009. ‘Better armed’ Mr Okupe’s statement contradicted the comments of the governor of Borno state, where Boko Haram was founded. Governor Kashim Shettima called for reinforcements and said the insurgents were "better armed and better […]

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Chevron Corp. has notified the Nigerian government it has selected a preferred bidder—a group led by Lagos-based Seplat Petroleum Development Co.–as the buyer of onshore oil assets the U.S. major has been seeking to sell for eight months, according to people familiar with the matter. Chevron is planning to sell the assets for $800 million to a group led by Seplat, according to these people. Seplat is part owned by French independent oil company Maurel & Prom . The onshore blocks, in the eastern part of the Niger Delta, are still at an exploration stage and aren’t yet producing oil. The government has the last word on whether the sale will go forward. A spokeswoman for Chevron declined to comment. "I can confirm we [made] a bid," said Seplat Chief Executive Austin Avuru. He declined to say if he has been notified that Seplat was the favored bidder […]

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