Sovereign Wealth Fund
Saudi takeover promises new dawn for Newcastle at a cost
Newcastle United fans have long dreamed of ridding the club from owner Mike Ashley, but a potential £300 million ($377 million) takeover backed by the Saudi sovereign wealth fund presents fans on Tyneside with a different dilemma.
African oil-producing countries among the most hard-hit as oil price plunges
African oil-producing and reliant countries have been among the most hard hit by the COVID-19 pandemic and declining oil price. Oil price crashed below $20 dollars on Monday, the lowest in 18 years. In particular, Senegal, Nigeria and Angola continue to face new challenges each day amid the threat of economic fallout.
Angola prosecutors close in on former president’s children
Angola’s former first son Jose Filomeno dos Santos has spent hours contemplating the marble floor and wood-panelled walls of Luanda’s Supreme Court where he has been on trial since December.
Angola’s ex-president defends son over embezzlement charge
Angola’s ex-president has defended his son and a former central bank governor who are accused of embezzling $500 million from the country’s sovereign wealth fund, court documents showed on Tuesday.
Saudi Arabia wealth fund in talks to buy Newcastle United for £340 million
Saudi Arabia’s sovereign wealth fund is in talks to buy English football club Newcastle United for about 340 million pounds (about N156.4 billion), a source familiar with the situation told Reuters.
Malaysian ex-premier’s first 1MDB trial to proceed
Malaysian ex-leader Najib Razak’s first trial linked to the 1MDB scandal will proceed after a judge ruled Monday prosecutors had made a sufficient case, boosting efforts to bring him to justice over the mammoth fraud.
Uber chief calls Jamal Khashoggi killing a ‘mistake’, then backtracks
The chief executive officer of Uber has expressed regret after calling the gruesome killing of Saudi journalist Jamal Khashoggi a "mistake" by Saudi Arabia's government and comparing it to a fatal self-driving crash involving one of the ride-hailing firm's cars.
Senate panel rejects central bank team at investigative hearing
The Senate Committee on Finance on Monday prevented the representatives of the Central Bank of Nigeria Governor, Godwin Emefiele, from addressing it on the issue of exchange rates for funding key projects.
Presidency: President Buhari’s trips are justified by outcomes
Senior Special Assistant to the President on Media and Publicity, Garba Shehu, has declared that President Muhammadu Buhari’s foreign trips are not for ‘sightseeing’, but justified by outcomes.
Senate summons central bank chief over exchange rates for infrastructure projects
The Senate Committee on Finance has summoned the Governor of Central Bank of Nigeria, Godwin Emefiele, to appear before it on Monday.
Central bank governor to appear before Senate committee today
The Senate Committee on Finance has summoned the Governor of Central Bank of Nigeria, Godwin Emefiele, to appear before it on Monday (today).
Nigeria needs $3 trillion for infrastructure
Nigeria requires a whopping $3 trillion to bridge its infrastructure gap over a 30-year period, Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, said on Monday.
Angola begins ex-president son’s fraud trial September 25
The trial of the son of former Angolan president Jose Eduardo dos Santos for allegedly trying to steal $1.5 billion (1.3 billion euros) from the country’s sovereign wealth fund will start on September 25, a court said Saturday.
Governor Obaseki advocates channelling domestic savings to development financing
Edo State Governor, Mr Godwin Obaseki, has made a case for channelling domestic savings to development financing instruments to spur development.
IMF clarifies report on Nigeria’s Sovereign Wealth Fund
The International Monetary Fund (IMF) on Friday clarified its categorisation of Nigeria as one of the countries with the worst use of the Sovereign Wealth Fund.
Federal government commits to improved funding of NSIA
The Federal Government says it will use revenue accrued in the Excess Crude Account (ECA) to improve the funding of the Nigeria Sovereign Investment Authority (NSIA).
Federal government rejects IMF report on sovereign wealth fund
The latest report by the International Monetary Fund (IMF) ranking Nigeria as the world’s second worst user of sovereign wealth funds is “fundamentally flawed”, the federal government says.
Qatar appoints QNB boss Al-Kuwari minister in cabinet reshuffle
Qatar appointed the heads of its biggest bank and state-run oil firm to two key ministerial posts in a cabinet reshuffle on Sunday which comes amid a protracted dispute with Arab states.
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Medical council validates four coronavirus test kits – registrar
The Medical Laboratory Science Council of Nigeria (MLSCN) says it has validated four Rapid Test Kits to determine their suitability for testing SAR-COV-2 infection popularly known as COVID-19 in the country.
Nigerian celebrities mourn deceased Majek Fashek
Nigerian celebrities have taken to their social media platforms to mourn the death of Music Legend, Majekodunmi Fasheke, a.k.a Majek Fashek.
Rwanda set to announce new coronavirus restrictions
Rwanda says it will announce new restrictions on containing the coronavirus Tuesday, a stark reversal of the country's plan days ago to ease restrictions, including motor vehicle travel throughout the country.
Nigeria declares telecoms facilities critical national Infrastructure
In response to the yearnings of industry stakeholders to declare telecom facilities Critical National Infrastructure, President Muhammadu Buhari, has finally approved and also directed that necessary physical protective measures be put in place to safeguard telecommunications infrastructure deployed across the country.
ASCAB: President Buhari’s speech underestimate Sani Abacha’s $5 billion loot
Alliance for Surviving COVID-19 and Beyond, (ASCAB), a group led by prominent Nigerian human rights lawyer, Femi Falana has said that President Muhammadu Buhari’s claim that late dictator, Sani Abacha, stole $1 billion contradicts the figures earlier released by his own officials.
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Police nab 69 suspected kidnappers, Shila Boys, others in Adamawa
Adamawa State Police Command, has nabbed 69 suspected kidnappers, Shila Boys, instigators of Tingno communal clash, among other criminal elements and recovered a cache of arms including 3 AK 47 rifles, 2 locally made pistols, 1 dane gun and 162 rounds of live ammunition.
Rwanda reports its first death from the new coronavirus
The victim was a 65-year-old driver who opted to return home from a neighbouring country, where he resided, after falling severely ill, the ministry said in a statement.
Bandits kill three in Katsina
Six others were injured during the attack just as an undisclosed number of animals were rustled from three villages of Yan Nasarawa, Unguwar Alhaji Babba and Unguwar Kanya.
Brendan Rodgers opens up on Liverpool sacking
Rodgers arrived at Liverpool in 2012, but he was sacked three years later. The decision was announced after Liverpool drew 1-1 with Everton at Goodison Park in 2015.
South African rand falls as risk appetite wanes on US protests, Sino-US tensions
The South African rand fell against the dollar in early trade on Tuesday, amid growing concerns over U.S.-China tensions and rising violent protests across the United States.