General News
Afreximbank Signs Deal with UTM on Financing for Historic Floating LNG Project

African Export-Import Bank, Afreximbank, yesterday disclosed that it has executed a project preparation facility financing head of terms with UTM Offshore Limited, under which the Bank will part-finance activities designed to progress a Floating Liquefied Natural Gas (FNLG) project in Nigeria to bankability.

The Bank in a statement explained that the deal marked its ongoing support “in leading UTM’s fundraising efforts to secure the necessary investment required for the projects’ implementation.
This project is of historical significance as it is the first FLNG project developed by an African-owned company on the continent”.
It stated that UTM is undertaking the development, design, and construction of an FLNG facility with a Liquified Natural Gas (LNG) nameplate production capacity of 1.2 million metric ton per annum and a storage capacity of 200,000 cubic meters, as well as ancillary facilities to be located 60km from the shore of Akwa Ibom State, Nigeria.
According to the Bank, “as well as representing a ‘first’ as an African-led intervention in the FNLG sector, the project aligns with Afreximbank’s strategic aim of advancing activities which boast strong climate finance credentials.
“Most importantly, the project paves the way for a just energy transition in line with the reduction of carbon emissions as prescribed at COP26. Moreover, this project has economically transformative potential – establishing trade-enabling infrastructure which will allow Nigeria to pivot from a crude oil export-based economy to a gas-based processing industrial economy in turn unlocking significant development impacts.
“To advance the timely implementation of the project, Afreximbank is leveraging its diverse product suite to provide end-to-end solutions. During the pre-investment stage, the project preparation facility will be deployed to de-risk the project and rapidly progress it towards bankability.
“In addition, under the PPF, the Bank will be appointed as mandated lead arranger (MLA) and lead in syndicating the debt raise – with the ability to incorporate credit enhancements, if required.
“Through its Financial Advisory Mandate, Afreximbank has been playing an instrumental role in structuring the transaction to ensure optimal returns and debt sizing, as well as identifying equity investors to invest in the project on favorable terms”.
Commenting on the deal, Mr. Amr Kamel, Afreximbank Executive Vice-President in charge of Business Development and Corporate Banking, said: “The intervention by Afreximbank will help, Nigeria, one of its member states, to invest in natural gas as part of its pathway towards a just energy transition and achieve a more sustainable and climate resilient economic development.
“The holistic approach deployed by the Bank in the UTM project is a model that Afreximbank aims to replicate across its member countries. It is through such interventions that we can ignite transformative actions that will spur industrialization and export development activities across the continent”.
General News
Catholic Bishops Urge FG to Give Tax Laws Human Face

Catholic Bishops of the Ibadan Ecclesiastical Province has called on the Federal Government to implement the ongoing tax reforms with equity, openness and empathy, cautioning that policies devoid of human consideration could further compound the suffering of millions of Nigerians.

The appeal was contained in a communiqué released after the bishops’ first provincial meeting for 2026, which took place at the Jubilee Conference Centre in Ibadan, Oyo State.
The document was jointly signed by Most Rev. Gabriel Abegunrin, chairman of the Ibadan Ecclesiastical Province, and Most Rev. John Oyejola, secretary.
Recall that the tax reforms were introduced by the administration of President Bola Tinubu and assented to on June 26, 2025.
They officially came into effect on January 1, 2026, and have continued to attract diverse reactions across the country.
In the communiqué, titled “Sustaining Hope and Strengthening Our Good Efforts,” the bishops acknowledged the government’s desire to overhaul Nigeria’s tax system but expressed concern that its implementation had sparked widespread unease and debate, especially among the poor and vulnerable.
“The reforms should be anchored on fairness, transparency and accountability, urging the government to apply them with compassion.
“The bishops also advised that vulnerable citizens should be given sufficient time to adapt to the new tax regime before strict enforcement measures are introduced.”
The clerics warned that economic policies pursued without sensitivity could widen inequality and heighten social unrest, noting that taxation should not become an added burden for Nigerians already grappling with inflation, unemployment, and rising costs of living.
The bishops encouraged Nigerians to remain hopeful while backing prayers with responsible citizenship, diligence and respect for justice and the rule of law.
“As shepherds of God’s people, we urge Nigerians to reject cynicism and despair. Prayer must be accompanied by good works. This is the only country we have,” the communiqué concluded.
General News
Taraba Adopts Electronic Case Management System
Taraba State in Nigeria has developed an electronic platform for filing criminal cases in the state’s High Courts, marking the implementation of the new National Case Management System.
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The launch, announced on Monday, marks a move from manual to electronic filing of criminal cases and is part of attempts to reform court processes and expand access to justice using technology.
Governor Agbu Kefas stated that the action underlines the government’s dedication to institutional strengthening, the rule of law, and effective governance.
Kefas pledged continued government support for the judiciary, noting that technology is essential for delivering swift, fair and transparent justice.
He also stated that the state would give the resources and infrastructure required to maintain the ongoing judicial reforms.
Justice Joel Agya, Chief Judge of Taraba State, stated that the e-filing facility will enable the electronic filing of originating processes and subsequent applications.
He explained that the system would enhance case tracking from filing to final determination while reducing delays caused by manual registry procedures.
Justice Agya went on to say that the platform would improve the security and accessibility of court records, as well as help judges manage dockets and time better.
He emphasised that the platform is intended to supplement rather than replace judicial decision-making, ensuring that administrative procedures do not impede the delivery of speedy justice.
The development is consistent with a broader national push to digitalise judicial processes across Nigerian courts, which has already been implemented in several regions.
General News
Cybersecurity Firm Detects a Wave of Crypto Phishing Following BlockFi Bankruptcy

Kaspersky has detected a wave of phishing attacks preying on former customers of the bankrupt crypto lending platform BlockFi.

These scams leverage the ongoing distribution of customer assets following BlockFi’s 2022 bankruptcy, tricking victims into surrendering cryptocurrency wallet seed phrases, potentially leading to financial losses.
BlockFi, once a prominent provider of high-yield interest accounts and crypto-backed loans, announced bankruptcy in November 2022. The company began disbursing repayments to affected clients in 2024 as part of its restructuring plan.
Kaspersky has detected fraudulent emails mimicking BlockFi’s official branding, which falsely invite recipients to “claim the payment” they are “entitled to.” After clicking on the link, users land on a phishing page and are prompted to “connect their wallet”.
The attackers suggest that users import their existing wallet by typing in the secret phrase – this grants attackers direct access to the funds in the victim’s wallet.
“Phishing attacks like this are widespread, capitalising on real-world events to build trust and urgency. Victims who fall for these scams risk exposing their crypto wallets to theft. It’s critical for individuals to verify any communications directly through official channels and to check the address from where the email originates for legitimacy,” comments Roman Dedenok, anti-spam expert at Kaspersky.
The phishing emails feature convincing logos, colour schemes, and language, making them difficult to spot at first glance. Kaspersky recommends the following steps to avoid falling victim to this or similar scams:
- Do not click on links or respond to unsolicited emails.
- Protect Sensitive Information: Never share banking credentials, wallet seed phrases, or other private keys in response to an email or online form.
- Use Security Tools: Enable two-factor authentication (2FA) on all financial accounts, employ reputable security software like Kaspersky Premium, and consider using a password manager to safeguard credentials.
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