Author: Chronicle Editor

Nigeria’s United Bank for Africa (UBA) said it had made a provision on loans made to 9mobile, the mobile operator formerly known as Etisalat Nigeria. Reuters says the lender did not give details of the provision but said it had a 38 billion naira ($125 million) exposure to 9mobile. UBA said the exposure was secured, and part of a syndicated loan with 12 other banks extended to Etisalat Nigeria four years ago. Nigerian banks have agreed an extension to a $1.2 billion loan made to 9mobile, pending the mobile operator finding new investors. However, some lenders outside the syndicated facility…

Tottenham are close to signing 19-year-old Argentina Under-20 defender Juan Foyth from Estudiantes for £8m and are still trying to push through the £23m signing of Paris St-Germain right-back Serge Aurier, 24. (Guardian) Liverpool have agreed to sell 25-year-old Brazil midfielder Philippe Coutinho to Barcelona in deal worth 160m euros (£148m). (Yahoo Sports) Although Liverpool CEO Peter Moore appeared to suggest in a tweet that Coutinho will not be sold before Thursday’s transfer deadline. (Liverpool Echo) Arsenal have rejected a £50m bid from Premier League rivals Manchester City for forward Alexis Sanchez. BBC Sport Arsenal could be tempted to sell…

Everton have rejected a £25m offer from Chelsea for Ross Barkley, but the England midfielder could still leave the club before Thursday’s deadline. Chelsea’s offer was below Everton’s original £50m price tag – although it is likely this will be reduced as he has only one year left on his contract. The 23-year-old has turned down a new deal at his boyhood club. READ: Monaco sign Stevan Jovetic from Inter Milan His situation is further complicated by a serious hamstring injury which could keep him out for three months. Chelsea are expected to return for further discussions and Tottenham, long-time…

President Muhammadu Buhari is expected to preside over the Federal Executive Council, FEC, meeting at the Council Chamber of the State House in Abuja, Nigeria’s capital today. Last week, Buhari cancelled the FEC meeting but did not give any reason for doing so. But the FEC meeting is expected to hold today as the President looks increasingly fitter following 104 days on medical vacation in London. In a statement by his Special Adviser to the President on Media and Publicity, Femi Adesina, the President said, “The meeting of the Federal Executive Council (FEC) will not hold today.” Adesina however noted…

…Agreement set to deliver 74MMscf of gas to Greenville’s $500M mini-LNG facility The Ministry of Petroleum Resources led by its Minister, Dr. Emmanuel Ibe Kachikwu recorded yet another milestone in the development of Nigeria’s gas market with the execution of the Gas Sale and Aggregation Agreement (GSAA) for the delivery of 74 million standard cubic feet (MMscf) of gas to the Greenville Oil and Gas Company Limited (Greenville) US$500m Mini-LNG facility in Rumuji, River State. The signing of agreement which was supervised by the Honorable Minister of State for Petroleum Resources, Dr Kachikwu, had in attendance the representatives of Nigerian…

A South African minister has criticised African leaders who seek medical treatment abroad. Aaron Motsoaledi condemned “health tourism” while speaking in Zimbabwe. President Robert Mugabe, who frequently receives treatment in Singapore, had left the meeting of health ministers when Dr Motsoaledi made the comments. Mr Mugabe’s spokesman has said that the president’s doctor “is not only Zimbabwean, he is actually black… He is very, very, very black”. George Charamba made those comments to Zimbabwe’s state-run Herald newspaper in May, insisting that President Mugabe was not turning his back on Zimbabwean medical help. READ: Buhari making investment easy in Nigeria –…

Ligue 1 champions Monaco have signed Montenegro striker Stevan Jovetic from Inter Milan for a reported £10m. The former Manchester City forward, 27, has signed a four-year deal. On Monday, photos emerged of Jovetic wearing the number 10 shirt, previously worn by Kylian Mbappe who is reported to be joining Paris St-Germain on loan. READ: Wenger wants Sergio Aguero in exchange for Sanchez “I’m very happy to be here. There are some great players on this team. That’s why I chose AS Monaco,” he told the club website. ⬇️ Suivez Stevan Jovetic sur ses réseaux ⬇️???? @sjovetic ???? https://t.co/Oj51WJRSWH  ????…

Nigeria’s Vice President, Prof Yemi Osinbajo has stated that President Muhammadu Buhari is committed to making investment easy for businessmen in Nigeria. Osinbajo who was in Auchi, Edo State to commission a cement and fertilizer plant said the Buhari administration takes private enterprise very seriously. “First let me say how pleased I am to be here in Auchi, I was here in camp as a Youth Corper in 1979. I lived here among the warm and friendly people of Auchi for 6 weeks. “I have had the unique honour and privilege of visiting two great industrial enterprises in Edo State,…

West Africa’s leading provider of connectivity and data center solutions, MainOne has reiterated the importance of Internet traffic domiciliation as a key requirement for growing the internet ecosystem in Africa. Speaking at the just concluded African Peering and Interconnection Forum (AfPIF), MainOne’s Chief Executive Officer, Funke Opeke challenged the continent’s leading Internet players to exchange traffic on the continent, noting that this would significantly lower costs and improve performance. During her keynote address titled “Vision 80/20 by 2020” which approached the goal set by AfPIF to route 80% of Africa’s Internet traffic on the continent by the year 2020, Ms.…

Tanzania is set to launch the world’s largest drone delivery network in January, with drones parachuting blood and medicines out of the skies to save the lives of women giving birth and children struck by malaria, in a country larger than Nigeria. California’s Zipline will make 2,000 deliveries a day to more than 1,000 health facilities across the east African country, including blood, vaccines and malaria and AIDS drugs, following the success of a smaller project in nearby Rwanda. “It’s the right move,” Lilian Mvule, 51, said by phone, recalling how her granddaughter died from malaria two years ago. “She…