Featured Nigeria

Enhancing Financial Inclusion: Telecoms and AML in Nigeria

The rapid development of mobile money is creating unprecedented opportunities for poor people in developing countries to more actively participate in the economy. For millions of underserved individuals around the world, a mobile phone represents more than just a tool for communication; it has become a payment terminal in the… Read More

Enhancing Financial Inclusion: Telecoms and AML in Nigeria

The rapid development of mobile money is creating unprecedented opportunities for poor people in developing countries to more actively participate in the economy. For millions of underserved individuals around the world, a mobile phone represents more than just a tool for communication; it’s a payment terminal in the pocket. Every… Read More

Nigerian widows sue Shell for complicity in activist deaths

AP — The widow of a Nigerian activist executed by their country’s government more than two decades ago accused oil giant Shell of complicity in his death at a civil case in a Dutch court Tuesday. “Shell came into my life to make me a poverty-stricken… Read More
Anti-money laundering author Ehi Eric Esoimeme devles into the issues surrounding pension fraud in Nigeria. Of interest is a revised approach to the processing of death benefits in one of Africa’s most populous states. Will the new measures prove effective, or can more be done?… Read More
16th January 2019
AP — British lawmakers overwhelmingly rejected Prime Minister Theresa May’s divorce deal with the European Union on Tuesday, plunging the Brexit process into chaos and triggering a no-confidence vote that could topple her government. The defeat was widely expected, but the scale of the House of… Read More
18th December 2018
An Italian judge said on Monday oil majors Eni (ENI.MI) and Royal Dutch Shell (RDSa.L) were fully aware their 2011 purchase of a Nigerian oilfield would result in corrupt payments to Nigerian politicians and officials. Italy’s Eni and Shell bought the OPL 245 offshore field for about $1.3 billion (1.03… Read More
10th December 2018
Nigeria’s main opposition party said authorities had frozen the bank accounts of its vice presidential candidate in the run-up to elections next February. The People’s Democratic Party (PDP) said late on Saturday accounts belonging to Peter Obi, its vice presidential candidate, his wife, family members and their businesses had been… Read More
5th November 2018
HSBC (HSBA.L) and UBS (UBSG.S) have closed their offices in Nigeria, the country’s central bank said in a report on Friday as it revealed foreign investment had fallen sharply from a year ago. The bank said foreign direct investment in Nigeria fell to 379.84 billion naira ($1.2 billion) in the… Read More
30th October 2018
Two Afren executives have been sentenced to a total of 30 years for a scheme which saw them profit from business deals the firm made with its Nigerian oil partners, without the knowledge of its board of directors. According to the Serious Fraud Office (SFO), former Afren CEO Osman Shahenshah… Read More
18th October 2018
James Ibori, the former governor of Nigeria’s oil-rich Delta State, has challenged a British court ruling which convicted him of laundering stolen public funds. Ibori is alleged to have used the money to acquire various assets. He reportedly owned houses in the US and UK, luxury brand cars and was… Read More
24th September 2018
Pirates kidnapped 12 crew members from a Swiss merchant vessel on Saturday in Nigerian waters, the ship’s operator said in a statement. Kidnapping for ransom is a common problem in parts of Nigeria. A number of foreigners have been kidnapped in the last few years in the southern Niger Delta… Read More
18th September 2018
Nigeria has accused HSBC (HSBA.L) of laundering money for one of the country’s former rulers, hitting back at a research note by the global bank that suggested a second term for President Muhammadu Buhari risked prolonging economic stagnation. HSBC declined to comment on the allegation late on Saturday by the… Read More
17th September 2018
Officers from Nigeria’s financial crime agency visited the Lagos office of Standard Chartered’s (STAN.L) Nigerian operations on Friday, but the bank said in a statement that there was no reason for the officers to be there and they left shortly afterwards. Last month Nigeria’s central bank ordered Standard Chartered and… Read More