Nigeria

Dangote refinery launches continent’s biggest IPO

14, September 2026

Dangote refinery launches continent’s biggest IPO 0

The Lagos-based refinery, which began operations in 2024, has a capacity of 700,000 barrels per day, exceeding domestic demand in Nigeria, Africa’s most populous country.

It began exporting its fuel abroad a few months ago and has become the largest supplier of jet fuel to Europe, the company says.

The Dangote Petroleum Refinery aims to raise funds to double its capacity to 1.4 million barrels a day by 2028, which would make it the world’s largest refinery, surpassing Jamnagar in India.

Listed on the Nigeria Stock Exchange, the IPO is targeting up to 10 million shareholders across Africa.

Describing it as an “historic day”, Dangote said that the IPO was “not simply about listing a company. It is about listing a new possibility for Nigeria, and for Africa”.

Investors can buy as few as 10 shares at 525 naira each, potentially raising 2.15 trillion naira ($1.6 billion) in a move Dangote hopes will give ordinary people a chance for a stake in a long-term asset.

He has said the offering, which closes October 13, will be the biggest IPO in African history and has encouraged participation by small investors, including people on lower incomes, such as domestic workers and drivers.

“We believe that an asset of this magnitude should not create value for only very few people, it should create value for millions of people,” said Dangote.

Dangote draws parallels with US giant Amazon and Microsoft whose early shareholders saw the value of their investments grow dramatically.

Monday’s opening saw a surge in interest with several investment platforms such as Bamboo reporting on X that it was experiencing “a much higher than expected traffic trying to get into the Dangote IPO”.

Another investment site, Cowrywise, said it was “seeing more traffic than usual” on its app during the first few hours of the offer going live.

In July, the mega-refinery secured $2.5 billion in investment from private investors.

Located outside Nigeria’s economic capital Lagos, the refinery has become a major part of Dangote’s business empire, which spans cement and sugar, to fertiliser production.

Africa currently imports more than 70 percent of its refined fuel, according to an Africa Finance Corporation (AFC) report in April.

Source: AFP

Billionaire Alex Beard pleads not guilty to Cameroon, Nigeria bribery charges

11, September 2026

Billionaire Alex Beard pleads not guilty to Cameroon, Nigeria bribery charges 0

British billionaire Alex Beard, the former head of oil at commodities giant Glencore, has pleaded not guilty to two charges of conspiracy to make corrupt payments linked to the company’s oil operations in West Africa.

Beard, 59, appeared at Southwark Crown Court in London on September 10, where he denied allegations brought by the UK’s Serious Fraud Office (SFO) concerning alleged corrupt payments to officials in Nigeria and Cameroon.

Prosecutors allege that Beard was involved in a conspiracy to make corrupt payments to government or state-owned oil company officials in Nigeria between 2010 and 2014 and in Cameroon between 2007 and 2014. Beard has denied the charges.

The case is part of a wider prosecution involving six former Glencore employees accused of conspiring to make corrupt payments to benefit the company’s oil operations in West Africa. The SFO says the charges relate to the awarding of oil contracts spanning Cameroon, Nigeria and Côte d’Ivoire between 2007 and 2014.

Beard appeared in court alongside Andrew Gibson, Glencore’s former head of oil operations. Gibson, 66, pleaded not guilty to four counts of conspiracy to make corrupt payments relating to Nigeria, Cameroon and Côte d’Ivoire. He also denied an additional charge of conspiracy to falsify documents for accounting purposes.

Four other former Glencore oil traders, Martin Wakefield, David Perez, Paul Hopkirk and Ramon Labiaga, have also pleaded not guilty to related charges. All six defendants are scheduled to stand trial from October 4, 2027.

The prosecution follows Glencore’s earlier corporate bribery case. In 2022, Glencore Energy (UK) pleaded guilty to seven counts of bribery relating to payments made to secure preferential access to oil and was ordered to pay £280 million in penalties and confiscation of proceeds. The corporate case was separate from the current prosecution of the former employees.

Beard became a billionaire after Glencore’s flotation on the London Stock Exchange in 2011. He joined Glencore in 1995 after working as an oil trader at BP and later became the company’s global head of oil, a position he held until his retirement in 2019. His wealth became public when Glencore listed in London and disclosed the value of shares held by senior executives.

The SFO first charged Beard and four other former Glencore employees with conspiring to make corrupt payments in August 2024. A sixth defendant, David Perez, was subsequently charged as part of the case. The agency says the alleged conduct involved contracts and payments connected to Glencore’s West African oil operations.

Beard’s latest court appearance marks the formal entry of his not-guilty plea ahead of the 2027 trial. The allegations against him have not been proven in court. The SFO says it will continue pursuing the case against all six former Glencore employees ahead of the October 2027 trial.

Source: Billionaires.Africa

Nigeria: Benin Catholic archbishop Akubeze dies at 69

10, July 2026

Nigeria: Benin Catholic archbishop Akubeze dies at 69 0

The Catholic Archdiocese of Benin City has announced the death of its Archbishop, Most Rev. Augustine Akubeze.

Akubeze died on Thursday at the age of 69, according to a statement issued by the Chancellor of the Archdiocese, Rev. Fr. Michael Oyanoafoh, on behalf of the Consultors of the diocese.

The statement described the late archbishop as a humble and committed servant of God who touched many lives through his ministry.

It read, “On behalf of the Consultors of the Catholic Archdiocese of Benin City, we announce, with profound sorrow, yet with a firm hope in the resurrection, the passing of our dearly beloved father and Archbishop, Most Rev. Augustine Obiora Akubeze, Archbishop of the Catholic Archdiocese of Benin City, who was called home to the Lord on Thursday, July 9, 2026.

“Archbishop Augustine Obiora Akubeze lived a very simple and humble life in faith and obedience to the will of God. He impacted the lives of so many people. He was a complete gentleman and a father to us all.”

The Catholic Secretariat of Nigeria also confirmed his death in a statement signed by its Secretary-General, Rev. Fr. Michael Banjo.

The secretariat described Akubeze as a “unique shepherd” whose leadership combined spiritual growth with the development of the church and the welfare of its members.

The statement read, “Archbishop Akubeze was a unique shepherd who understood that the true development of the church embraces both spiritual renewal and the holistic growth of God’s people.

“Under his care, the Archdiocese of Benin City has witnessed significant developmental strides. He was deeply committed to the welfare of his priests with the conviction that the future of the church depended on well-formed shepherds.”

The Catholic Secretariat also recalled his contributions as a former President of the Catholic Bishops’ Conference of Nigeria, describing him as a defender of the church’s teachings.

“As an erstwhile President of the Bishops’ Conference of Nigeria, he firmly stood as a pillar of orthodox truth. His voice did not tickle ears but fed souls, bringing to light his episcopal motto: ‘Ut Testimonium perhibeam veritati’ (That I may bear witness to the Truth),” the statement added.

The secretariat praised his leadership style, noting that he demonstrated humility and service throughout his episcopal ministry.

“His patient listening and selfless generosity embodied a compassionate shepherd who knew the smell of his flock.

“He demonstrated always by his gentleness and quiet disposition that genuine authority in the church is not measured by power but by service,” it stated.

Born in 1956, Akubeze was ordained a Catholic priest on October 3, 1987.

He was appointed the pioneer Bishop of Uromi Diocese on December 14, 2005, and consecrated on February 25, 2006.

Source: The Punch

Cameroon, Nigeria sign border security pact

17, June 2026

Cameroon, Nigeria sign border security pact 0

Nigeria and Cameroon have signed a Memorandum of Understanding on bilateral defense cooperation, with a focus on securing their shared southern border and strengthening maritime security in the Gulf of Guinea.

The agreement was signed in Yaoundé on Wednesday by Nigeria’s Minister of Defense, General Christopher Musa (retd.), and Cameroon’s Minister Delegate at the Presidency in charge of Defense, Mr Joseph Assomo, following two days of deliberations by defense and security experts from both countries.

According to a statement on Wednesday by Musa’s media aide, Leah Katung-Babatunde, the MoU establishes a framework for cooperation across terrestrial and maritime domains and covers intelligence sharing, operational coordination, logistics support, joint military training, personnel exchange programmes, and collective response mechanisms to emerging security threats.

“In a major step toward regional stability, the Honourable Minister of Defence of the Federal Republic of Nigeria, General Christopher Musa (retd.) OFR, today signed an MoU with the Minister Delegate at the Presidency in charge of Defence of the Republic of Cameroon, Mr Joseph Assomo, to deepen bilateral defence cooperation and secure their shared southern border.

“The signing ceremony in Yaoundé concluded two days of intensive deliberations by defense and security experts from both nations. The agreement establishes a modernised framework to counter emerging threats across both terrestrial and maritime domains.

“The Memorandum of Understanding establishes a renewed framework for cooperation in securing the terrestrial and maritime domains along the Nigeria–Cameroon southern border and reinforces the long-standing defence relationship between both nations.

“Key areas highlighted during the engagements included enhanced operational coordination, intelligence sharing, logistics support, joint military training, personnel exchange programmes, and strengthened mechanisms for collective response to emerging security challenges,” the statement partly read.

Speaking at the signing ceremony, Musa said the agreement “would henceforth provide a structured framework for military cooperation and operations between both countries and further institutionalise collaboration in addressing common security concerns.”

Both sides also discussed the operationalisation of the Combined Maritime Joint Task Force, described as a strategic platform for enhancing maritime security and safeguarding economic interests within the Gulf of Guinea, where Nigeria and Cameroon are key stakeholders.

On defense industry cooperation, General Musa noted that “one of the enduring challenges confronting African defence capability development has been limited indigenous production of military hardware,” and stressed the need for stronger regional industrial partnerships. He highlighted opportunities under Nigeria’s Defence Industries Corporation framework and reaffirmed Nigeria’s openness to collaboration in defence manufacturing, technology transfer, research and innovation.

Assomo, in response, expressed interest in advancing cooperation in defense technology and confirmed that a formal proposal framework is being finalised to concretise bilateral arrangements in that area.

The signing marks what both governments described as a pivotal milestone in Nigeria–Cameroon relations, reinforcing their shared commitment to regional peace and sovereignty.

The signing comes days after armed Cameroonian soldiers allegedly invaded the Danare community in Boki Local Government Area of Cross River State, causing widespread panic.

Culled from Punch Nigeria

Murder of 3 Cameroonians: Nigeria police arrest shrine chief priest, 3 others

17, February 2026

Murder of 3 Cameroonians: Nigeria police arrest shrine chief priest, 3 others 0

The Anambra State Police Command says it has arrested four suspects in connection with the murder of three Cameroonian nationals in the state.

The Public Relations Officer of the Command, SP Tochukwu Ikenga, who made this known in a statement issued on Monday, said security operatives have intensified efforts to arrest the fleeing gang leader and other members of the criminal network involved in the crime.

Ikenga identified the suspects, all male, as 27-year-old Chukwuemeka Emmanuel, popularly known as “Ugoebenajah,” who is alleged to be the Chief Priest of a shrine; 27-year-old Nwabunne Bright; 21-year-old Chinecherem Chiama; and 38-year-old Michael Ekwunife.

The police spokesperson said the operation, which took place on February 13, 2026, led to the recovery of two pump-action guns, one locally made Beretta pistol, a machete, assorted criminal charms, expanded ammunition, 10 live cartridges, and five live 9mm rounds in the Nando community, Anambra East Local Government Area of the state.

According to him, the arrest of the suspects followed the confession of two suspects earlier arrested and currently in custody.

Ikenga said that while acting on the information obtained, operatives attached to the Rapid Response Squad in Awkuzu mobilised to a shrine in Nando believed to be linked to the suspects.

“On approaching the shrine, about thirty able-bodied men were observed gathered at the premises,” Ikenga stated.

“Upon sighting the Police, the armed men opened fire on the operatives. The Police operatives responded professionally, engaging the armed men in a gun duel.

“While the prime suspect, Uchenna Mmaduamaka Nicholas, a native of Oroma Etiti Anam, escaped alongside other gang members with bullet wounds.

“Also during the gun battle, one of the arrested armed suspects sustained a bullet injury on the thigh and was immediately taken to a hospital, where he is currently receiving medical treatment.”

The Command said the four suspects are undergoing interrogation, while a manhunt has been launched to track down the fleeing gang leader and other members of the criminal gang.

Reaffirming its commitment to protecting lives and property, the police urged residents to provide credible information to support ongoing investigations, assuring that further developments would be communicated in due course.

Source: Sahara

Francophone officials tighten controls to curb cocoa exports to Nigeria in the South West

4, February 2026

Francophone officials tighten controls to curb cocoa exports to Nigeria in the South West 0

Cameroon’s National Cocoa and Coffee Board (ONCC) is stepping up efforts to curb illegal cocoa exports to Nigeria, which continue to affect export revenues and sector oversight. On January 13, ONCC Director General Michael Ndoping chaired a high-level consultative meeting in Douala, on the instructions of Trade Minister Luc Magloire Mbarga Atangana.

According to the ONCC, the discussions brought together public and private stakeholders, including exporters, customs officials, and administrative authorities. Talks focused on three priorities: strengthening coordination, addressing operational challenges, and improving trade flows between Cameroon and Nigeria. The consultations form part of the implementation of new regulatory texts aligned with the African Continental Free Trade Area, aimed at securing cross-border transactions.

The renewed effort comes as Nigeria is accused of siphoning part of Cameroon’s cocoa output, particularly from the Southwest region, through fraudulent imports. Data from Cameroon’s National Institute of Statistics show that Nigeria absorbed CFA41.4 billion worth of informal Cameroonian cocoa in 2024. The issue had already reached a critical level during the 2022–2023 season, when the government officially reported losses of about CFA70 billion due to fraudulent exports to Nigeria.

In response, Mbarga Atangana introduced a precautionary measure during that season, banning cocoa bean exports to the neighboring country. The government then adopted a new marketing system based on tighter controls over land, sea, and air exports, aimed at reducing undeclared outflows and restoring traceability of volumes.

Since then, Nigeria has gradually formalized its purchases. According to the ONCC, it became the leading African importer of Cameroonian cocoa in the 2024–2025 season, buying 2,100 tons. The shift has not eliminated fraud risks but has altered the balance, with part of the flows moving into formal channels while illicit exports persist in border areas.

In this context, the ONCC is accelerating the rollout of the National Unified Cocoa Traceability System. The tool is intended to meet international requirements, including the European Union’s deforestation regulation, while securing volumes exported to neighboring countries.

Source: Sbbc

Anthony Joshua injured in Nigeria car crash, with two others dead

29, December 2025

Anthony Joshua injured in Nigeria car crash, with two others dead 0

British boxer Anthony Joshua has been injured, with two others killed, in a car crash near Lagos in Nigeria.

Local police tell the BBC that Joshua has been taken to hospital – they earlier said he suffered minor injuries but is “fine”

Officials suspect Joshua’s vehicle crashed into a stationary lorry while overtaking at speed – Joshua was pictured in the back of his vehicle

Other pictures, posted by officials, show a badly-damaged car and a dented lorry

Joshua – a two-time world heavyweight champion – has family roots in Sagamu, a town in Ogun State, Nigeria

One relative tells the BBC of their family’s shock – saying Joshua normally visits Nigeria around the New Year.

Source: BBC

US launches airstrikes on Nigeria

26, December 2025

US launches airstrikes on Nigeria 0

The United States has launched airstrikes in northwest Nigeria, with President Donald Trump casting the attack as a response to alleged anti-Christian violence—an assertion Nigerian authorities and analysts have long rejected as a misleading pretext for military action.

The strikes, which Trump announced late Thursday, were presented as a blow against an African branch of Daesh, which he said had carried out large-scale violence against Christians in Nigeria.

“Tonight, at my direction as Commander in Chief, the United States launched a powerful and deadly strike against ISIS terrorist scum in Northwest Nigeria, who have been targeting and viciously killing, primarily, innocent Christians, at levels not seen for many years, and even centuries!” Trump said on social media.

Nigeria’s Ministry of Foreign Affairs confirmed that the attacks targeted Sokoto State and were carried out in coordination with Nigerian authorities.

“This has led to precision hits on terrorist targets in Nigeria by airstrikes in the North West,” the ministry said in a post on X, while not confirming Washington’s claim of persecution of Christians.

The US Department of War later released footage showing the launch of the airstrikes.

Nigeria apologises over Burkina Faso military flight that saw 11 servicemen detained

18, December 2025

Nigeria apologises over Burkina Faso military flight that saw 11 servicemen detained 0

Nigeria’s Foreign Minister Yusuf Tuggar has formally apologised to Burkina Faso for the unauthorised entry of a Nigerian military jet into Burkinabè airspace, an incident that led to the detention of 11 Nigerian servicemen.

Tuggar’s spokesperson told the BBC that the detained personnel had been released and were due to return to Nigeria, without saying when.

The plane was flying to Portugal when it developed a technical problem and had to land in Burkina Faso, according to the Nigerian Air Force.

The unauthorised landing sparked a diplomatic row with the Alliance of Sahel States (AES) made up of Burkina Faso and its neighbours, Mali, and Niger.

In a statement, AES characterised it as an “unfriendly act” and said member states‘ respective air forces had been put on maximum alert and authorised to “neutralise any aircraft” found to violate the confederation’s airspace.

The three AES states, all run by the military, have withdrawn from the West African regional bloc, Ecowas, and moved closer to Russia, while most Ecowas members remain allied to the West.

Tuggar led a delegation to the Burkinabè capital, Ouagadougou, on Wednesday, to discuss the incident with military leader Captain Ibrahim Traoré.

“There were irregularities concerning the overflight authorisations, which was regrettable, and we apologise for this unfortunate incident,” Tuggar said on national TV.

It remains unclear when the military personnel, said to be in “high spirits”, and the aircraft will return to Nigeria.

According to Nigeria’s foreign ministry, both sides agreed to “sustain regular consultations and pursue practical measures to deepen bilateral cooperation and regional integration”.

Source: BBC

Nigeria: One hundred abducted schoolchildren released

8, December 2025

Nigeria: One hundred abducted schoolchildren released 0

About 100 children who were abducted from a Catholic school in central Nigeria last month have been freed, authorities say.

Niger state’s police chief, Adamu Abdullahi Elleman, and Bishop Bulus Dauwa Yohanna, who is in charge of the school as the local leader of the Catholic community, both told the BBC that they had received confirmation of the students’ release.

They said the news had been confirmed by the president’s national security advisor, but Bishop Yohanna said it was not clear when the children would be reunited with their parents.

More than 250 students and 12 staff were kidnapped from St Mary’s Catholic school in Papiri, the latest in a wave of mass abductions.

Source: BBC

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