Nigeria

JP Morgan aims to expand into merchant banking

The US bank wants to transform its representative office in Lagos into a fully-fledged business branch, marking a further step in its CEO's strategy to strengthen its presence on the African continent.

Nigerian reinsurer Continental Re gears up for its return to the stock market

The reinsurance company, headed since 2021 by Lawrence Mutsunge Nazare, is seeking to raise new capital to strengthen its activities on the continent. Its ambitions extend beyond its home country, where it left the Nigerian Stock Exchange five years ago.

Apix Energy, Lukoil's new vehicle in Africa

Several Litasco employees have joined forces to form a new Dubai-based trading company, Apix Energy, which has set its sights on the African continent. However, management denies any link between the two structures.

Emirates considers again grounding Lagos-Dubai flights

The airline Emirates is reportedly considering suspending the route once more. The Emirati company is said to be struggling to fill its planes to capacity, mainly because of the strict visa requirements it had for Nigerians.

Renaissance buys Shell's oil fields, but regulator keeps them in its sights

The Nigerian Upstream Petroleum Regulatory Commission has attempted to reclaim more than 90 fields from Shell's Nigerian subsidiary as it prepares for its upcoming oil block tender. Yet just days earlier, the regulator had approved their $2.

Tycoon Tein Jack-Rich seeks buyer for his junior BelemaOil

Nigerian junior BelemaOil has been up for sale for several weeks. Since 2014, it has been operating the OML 55 block, in which it holds a 40% stake, and whose suspension had caused a decline in the company's financial situation.

NNPC seeks to maintain commercial relations with Trump administration

Nigerian National Petroleum Co executives are due in the coming weeks to pay two visits to the United States, where they hope to meet with the new Energy Secretary Chris Wright.

At IDEX show, army negotiates to buy over a hundred armoured vehicles

The Nigerian army was at the IDEX trade show in Abu Dhabi to negotiate the purchase of armoured vehicles, in particular from the Egyptian company Eagles International for Defense Systems.

Digital Economy Minister Bosun Tijani has plans for an African summit on AI

Minister of Digital Economy, Bosun Tijani, is making plans for an African summit on artificial intelligence with Nigeria at the forefront.

Abuja and Ottawa to strengthen cooperation in tackling illicit financial crime

Faced with an increase in trafficking from Canada, Abuja's financial authorities want to strengthen their partnership with their counterparts in Ottawa. A Nigerian delegation travelled to the Canadian capital at the end of February.

German giant Rheinmetall woos Nigerian Army

The German armaments conglomerate has proposed its Skyguard-type defence systems to the Nigerian Army, which has been seeking to bolster its anti-aircraft capabilities for several months.

The New Guard
Nigeria, Ivory Coast, Morocco

Every Wednesday, Africa Intelligence spotlights a new generation of movers and shakers in business and politics.

NigeriaMark Okoye II, Bola Tinubu's financial arm in the South East

Ivory CoastLinda Pathinvo Abihona, a bridge between Ivorian startups and Silicon Valley

MoroccoIlyas El Maliki, leader of Moroccan streaming

Kano throne turns into poisoned chalice for Emir Muhammadu Sanusi II

Sanusi Lamido Sanusi returned to the head of the northern Nigerian emirate last May, four years after being dethroned, but now once again finds himself in the crosshairs of the central government.

Sanctions-hit Dubai trader Coral Energy reinvents itself again

After an initial name change to 2Rivers, oil trader Coral Energy has transferred its activities to a new entity, Safira Global Trading. Coral Energy was sanctioned in December for selling Russian oil below the floor price.