Uche Orji, the Harvard-trained head of Nigeria’s sovereign wealth fund, said he’s worried about rising stock prices as he prepares to hand over the next tranche of the fund’s $1 billion of holdings to external fund managers.
Sasol Ltd. said it’s appointed Alan Cameron, the current managing director of Sasol Solvents, as the new head of its Sasol Oil unit, replacing Maurice Radebe, who’s been appointed to the company’s executive committee.
The Central Bank of Nigeria left its benchmark interest rate at a record high for an 11th consecutive meeting to protect the currency as oil theft threatens to reduce government revenue and increase borrowing.
Nigeria’s central bank may raise its benchmark interest rate tomorrow for the fourth time this year to bring borrowing costs above inflation and slow price-growth to below 10 percent, according to a survey of analysts.
Nigerian President Goodluck Jonathan risks sectarian clashes when he announces whether he will seek election: in the Muslim north if he does, and in his native oil- rich Niger River delta in the south if he doesn’t.