Edition:
United Kingdom

Libby George

Lekoil shares plunge as company launches loan scam investigation

15 Jan 2020

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.

UPDATE 3-Lekoil shares plunge as company launches loan scam investigation

14 Jan 2020

* FCA, LSE decline to comment on the case (Adds statement by law firm representing Seawave, closing share price, updates graphic)

Nigeria's Lekoil halts London trading on finding loan was 'complex facade'

14 Jan 2020

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.

Nigeria's Lekoil halts London trading on finding loan was 'complex facade'

13 Jan 2020

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.

UPDATE 3-Nigeria revokes $2 bln tax case against telecoms firm MTN

10 Jan 2020

LAGOS, Jan 10 Nigeria's attorney general has withdrawn a $2 billion tax demand against South African telecoms giant MTN Group, the company and attorney general said on Friday, in a closely watched case that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.

Angola hits 'Princess' dos Santos with asset freeze

31 Dec 2019

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.

Nigeria inks major LNG expansion with oil majors

27 Dec 2019

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%.

UPDATE 2-Nigeria inks major LNG expansion with oil majors

27 Dec 2019

* FID was delayed from Q4 20018 (Recasts, adds quote and background)

Nigeria files fraud charge in bid to overturn nearly $10 billion penalty

06 Dec 2019

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.

Nigeria gives UK court $200 million guarantee for stay on asset seizures in P&ID case

29 Nov 2019

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.

World News