LAGOS Shares in Nigerian oil company Lekoil Ltd plunged more than 70% on Tuesday following a suspension of trading after the firm discovered that a $184 million loan it had announced was fraudulent.
* FCA, LSE decline to comment on the case
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LAGOS Trading in shares of Nigerian oil company Lekoil was suspended on the London Stock Exchange on Monday when the company said it had discovered that an announced $184 million loan agreement with the Qatar Investment Authority (QIA) was fraudulent.
LAGOS, Jan 13 Trading in shares of Nigerian oil
company Lekoil was suspended on the London Stock Exchange on
Monday when the company said it had discovered that an announced
$184 million loan agreement with the Qatar Investment Authority
(QIA) was fraudulent.
LAGOS, Jan 10 Nigeria's attorney general has
withdrawn a $2 billion tax demand against South African telecoms
giant MTN Group, the company and attorney general said
on Friday, in a closely watched case that investors say has
damaged Nigeria's appeal.
LISBON/JOHANNESBURG/LAGOS Angola has frozen the assets of Isabel dos Santos, the billionaire daughter of the country's previous leader, in a sign that President João Lourenço is taking a tougher line against the former first family.
ABUJA/LAGOS Nigeria signed a major gas expansion deal on Friday, a much-needed collaboration with oil majors that Nigeria LNG said would boost its liquefied natural gas output by more than 30%.
* FID was delayed from Q4 20018
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LAGOS Lawyers for the Nigerian government filed "new and substantive" allegations of fraud with a British court on Friday, carrying on a fight against an arbitration award now worth close to $10 billion, a spokesman for the attorney general said.
LAGOS The Nigerian government on Thursday placed a bank guarantee of $200 million with a high court in London to secure a stay on asset seizures of up to $9 billion related to a failed gas project, a spokesman for its attorney general said.