Africa Business News

The chair of the African Union Commission has called on leaders to tackle conflicts in the continent and condemned a series of coups in some African countries. Moussa Faki Mahamat made the call on the first day of the two-day AU summit. Wars in Sudan and the Democratic Republic of Congo are at the top of the African bloc's agenda. Mr Faki says he was extremely worried about a litany of difficulties facing the region. He expressed concern over the fighting in the Democratic Republic of Congo, saying the conflict in the east of the country was leading to a worsening of its eternal crises. He says the rise in jihadist insurgencies was resulting in exorbitant military spending, at the expense of vital social sectors, while opening the way to misleading populist speeches.

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A key parliamentary committee says the government's plan to send some asylum seekers to Rwanda is fundamentally incompatible with the UK's human rights safeguards. The Joint Committee on Human Rights says the legislation jeopardised the UK's international reputation. The bill will be debated in detail by the House of Lords this week and face substantial opposition. The UK Supreme Court ruled that Rwanda was not a safe country because it could send victims of abuses, including torture, back to countries they have fled from.

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A key parliamentary committee says the government's plan to send some asylum seekers to Rwanda is fundamentally incompatible with the UK's human rights safeguards. The Joint Committee on Human Rights says the legislation jeopardised the UK's international reputation. The bill will be debated in detail by the House of Lords this week and face substantial opposition. The UK Supreme Court ruled that Rwanda was not a safe country because it could send victims of abuses, including torture, back to countries they have fled from.

Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.

The Central Bank of Nigeria under the previous administration split the transfer of $134m to the United Kingdom branch of Nigerian bank to avoid violating its guidelines regarding offshore deposit placement. The audit report was published two years later than it was expected by law. CBN under its immediate past Governor, Godwin Emefiele, had been accused of several malpractices. However, Emefiele has since denied many of the allegations. The report partly states that, CBN deposited $134m to First Bank of Nigeria (UK) London (these deposits were split into $59m and $75m) to circumvent the provisions of the CBN guidelines on offshore deposits. The audit report says the apex bank did not provide further information at the time of the audit to enable the auditor to verify the average monthly deposit of FBN UK LTD. London, over one year, to establish if it is qualified for such exposure.

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The Central Bank of Nigeria under the previous administration split the transfer of $134m to the United Kingdom branch of Nigerian bank to avoid violating its guidelines regarding offshore deposit placement. The audit report was published two years later than it was expected by law. CBN under its immediate past Governor, Godwin Emefiele, had been accused of several malpractices. However, Emefiele has since denied many of the allegations. The report partly states that, CBN deposited $134m to First Bank of Nigeria (UK) London (these deposits were split into $59m and $75m) to circumvent the provisions of the CBN guidelines on offshore deposits. The audit report says the apex bank did not provide further information at the time of the audit to enable the auditor to verify the average monthly deposit of FBN UK LTD. London, over one year, to establish if it is qualified for such exposure.

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The Federal Airports Authority of Nigeria has reopened the 3.9km Runway 18R/36L of the Murtala Muhammed International Airport, Lagos after almost 11 months of maintenance repairs. During the repair period, both international and local airlines were using runway 18L/36R, a shorter runway that is meant to handle only domestic flights. Kenya Airways has already utilised the reopened runway, receiving a ceremonial welcome, marking the runway’s return to service. The Nigerian Airspace had issued a Notice to Airmen, announcing the opening of the Runway After Midnight Of February 15.

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The Federal Airports Authority of Nigeria has reopened the 3.9km Runway 18R/36L of the Murtala Muhammed International Airport, Lagos after almost 11 months of maintenance repairs. During the repair period, both international and local airlines were using runway 18L/36R, a shorter runway that is meant to handle only domestic flights. Kenya Airways has already utilised the reopened runway, receiving a ceremonial welcome, marking the runway’s return to service. The Nigerian Airspace had issued a Notice to Airmen, announcing the opening of the Runway After Midnight Of February 15.

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President Bola Tinubu met with his Brazilian counterpart, President Luiz Inácio Lula da Silva, in Addis Ababa, Ethiopia, and had fruitful discussions on the comprehensive strengthening of bilateral ties in all fields. Tinubu’s media aide, Ajuri Ngelale, noted that the Nigerian leader, at the meeting, emphasized the strength of Nigeria’s economic potential and influence, saying the country is witnessing a leap forward, despite some short-term reform pains, as his administration is removing all encumbrances to business. The President further explained that his administration is investing in critical sectors of the economy like healthcare, education, and agriculture to ensure the welfare of all Nigerian citizens and to create sustainable economic prosperity for future generations.

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President Bola Tinubu met with his Brazilian counterpart, President Luiz Inácio Lula da Silva, in Addis Ababa, Ethiopia, and had fruitful discussions on the comprehensive strengthening of bilateral ties in all fields. Tinubu’s media aide, Ajuri Ngelale, noted that the Nigerian leader, at the meeting, emphasized the strength of Nigeria’s economic potential and influence, saying the country is witnessing a leap forward, despite some short-term reform pains, as his administration is removing all encumbrances to business. The President further explained that his administration is investing in critical sectors of the economy like healthcare, education, and agriculture to ensure the welfare of all Nigerian citizens and to create sustainable economic prosperity for future generations.

Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.

A key parliamentary committee says the government's plan to send some asylum seekers to Rwanda is fundamentally incompatible with the UK's human rights safeguards.
The Joint Committee on Human Rights says the legislation jeopardised the UK's international reputation.
The bill will be debated in detail by the House of Lords this week and face substantial opposition.
The UK Supreme Court ruled that Rwanda was not a safe country because it could send victims of abuses, including torture, back to countries they have fled from.

Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.