Tuesday, May 22, 2012
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AllAfrica News: Latest
All Africa, All the Time.
  • Nigeria: Pension Fraud - Sanusi, Lamorde, Others Face Senate Today
    [Daily Trust] The Governor of the Central Bank of Nigeria (CBN), Sanusi Lamido Sanusi and the Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Lamorde, are expected to appear today before the Senate panel probing the alleged mismanagement of pension funds in the country.
  • Nigeria: NNDC - Oil Search in North Failing
    [Daily Trust] Full text of response by the New Nigerian Development Company (NNDC) to Daily Trust's request for information on oil exploration in the North. A story on the NNDC brief was published in Daily Trust of yesterday.
  • Nigeria: The Unpredictable Terror of Boko Haram
    [RNW Africa] For weeks now, the Boko Haram sect spreads panic at the border between Nigeria and Cameroon. The latest attack left at least twelve persons injured. Residents on both sides of the border are traumatised.
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Strategic Research and Analysis

  • The Management of $1 Billion Nigeria’s Sovereign Wealth Fund The Management of $1 Billion Nigeria’s Sovereign Wealth Fund
      “Transparency for the management of $1 Billion Sovereign Wealth Fund” - Afripol At the on-going World Economic Forum at Addis Ababa, Ethiopia the Nigerian minister of finance, Dr. Okonjo-Iweala spoke to Wall Street Journal on the country’s sovereign wealth fund (SWF). She confirmed that $1 Billion was withdrawn from Excess Crude Account and was used as seed money to establish Nigeria’s sovereign wealth fund.   The Excess Crude Account...
  • Kenyan Oil Discovery: A Source of Wealth Creation and Development Kenyan Oil Discovery: A Source of Wealth Creation and Development
      With the discovery of a large oil deposits in the isolated northern Turkana region of Kenya by Tullow Oil PLC and British Oil, the east African nation has begun its journey of joining the exclusive club of African oil producing nations.   Africa is becoming the gold rush for oil exploration: Oil and gas exploration spots are crowding African landscape. With already older oil exploration spots in Nigeria, Angola, Sudan , Chad and the most recent...
  • Eurozone Politicians are Rejecting Austerity Measures unlike African leaders Eurozone Politicians are Rejecting Austerity Measures unlike African leaders
    France, Greece are electing politicans that have rejected austerity policies which African leaders gladly accepted in 80s and 90s.   "In all the capitals, beyond government leaders and state leaders, there are people who, thanks to us, are hoping, are looking to us, and want to put an end to austerity,” with these liberating words the newly elected president of France, Socialist François Hollande assured French people and the rest of debt-ridden...
  • President Obama Invites African Leaders to G8 Summit expect Nigeria President Obama Invites African Leaders to G8 Summit expect Nigeria
    Nigeria was not invited to the month of May's G8 Gathering in United States Ethiopia, Ghana, Tanzania and Benin presidents were officially invited to the forthcoming G8 Summit later this month in the United States by U.S. President Barack Obama. United States will be hosting the next G8 summit and with the tradition of the event, the host nation can invite other world leaders that have issues that can enhanced the gathering. Nigeria, an oil rich...
  • Nigeria: Inflation spikes, Naira recoils and T-bills sell continues Nigeria: Inflation spikes, Naira recoils and T-bills sell continues
    March Inflation Rate stands at  12.1 percent, Central Bank of Nigeria (CBN) Retains Monetary Interest Rate at 12 percent The country’s inflation rate is not subsiding and with March's surging inflation rate at 12.1 percent, the partial removal of fuel subsidy has begun to clamp down on the economy. The inflation rate of February was at 11.9 percent, and the new number for March (12.1 percent) shows that inflationary trend is gaining momentum as...
  •  South Sudan withdrawal from Heglig and the burden of history South Sudan withdrawal from Heglig and the burden of history
    As South Sudan withdrew from Heglig, the dispute is far from over The newly independent nation of South Sudan has officially withdrawn its determined but insufficiently equipped military contingent on the disputed Heglig oil field and the aggressive Khartoum government to the north, The Islamic Republic of Sudan has declared victory.   The Heglig oil field or Panthou oil field as South Sudan called it, is situated in the southern Sudan but the...
  • AFRIPOL PERSON OF THE YEAR: ELON MUSK AFRIPOL PERSON OF THE YEAR: ELON MUSK
    ELON MUSK: AFRIPOL PERSON OF THE YEAR Elon Musk is the co-founder and CEO of Pay Pal, SpaceX, Tesla Motors and Chairman of SolarCity. Elon Musk, a South African immigrant to United States is an African success story. Born and grew up in South Africa during days of Apartheid. Musk, a young man of great vision  and emerging intellectual rejected the Apartheid system and migrated to North America to pursue his dreams and visions. "Musk was born and...
  • Africa is most profitable area in the World Africa is most profitable area in the World
    Africa is most profitable area, say economists Africa is the world’s most profitable region, says Econometrix chief economist Azar Jammine. At a presentation in Johannesburg yesterday, he cited an analysis by the University of Oxford which showed that, adjusted for risk, Africa came out “way above” Asia and Latin America. Jammine, with Frontier Advisory chief executive Martyn Davies, presented the findings of the MasterCard Worldwide Insights...
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