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
MTN Nigeria Takes Go MAD Campaign to The Entrepreneurial Hub of Aba

MTN Nigeria is set to bring its Go Make A Difference (Go M.A.D) campaign to Aba, Nigeria’s renowned enterprise hub, on Sunday, March 23, at Sugarland, Luxury City Hotel.
This initiative continues MTN’s mission to inspire Nigerians to take deliberate steps toward community development and digital empowerment.
Speaking with the press at the campaign launch, Onyinye Ikenna-Emeka, Chief Marketing Officer of MTN Nigeria, shared the inspiration behind the Go M.A.D initiative. “At MTN, we believe in driving progress, giving our customers the power to rise above challenges and create something extraordinary. The Go M.A.D campaign is rooted in the belief that MTN data gives you the power to take on the world, to achieve the extraordinary, and to make a meaningful difference, in your community, your family, and your workplace. It’s our way of saying: we see you, we support you, and we’re here to make your journey better.”
Following exciting stops in Abuja, Enugu, Calabar, Ibadan, and most recently Benin, the campaign now heads to Aba with a promise to spotlight the city’s rich entrepreneurial spirit and creative talent.
In Aba, attendees can expect a thrilling fusion of technology, entertainment, and culture, with augmented and virtual reality zones, a flash mob, interactive games, special guests and inspiring real-life stories. The event will also feature Kahoot trivia games, a Go MAD puzzle, a pledge wall, and giveaways of MTN-branded merchandise and digital devices.
A highlight of this event will be the Talent Showcase, dedicated to spotlighting Aba’s emerging creatives and innovators. This platform provides local talents the opportunity to share their creative skills and connect with a broader audience.
Set against the backdrop of Aba’s reputation as a powerhouse of local industry and innovation, the event will celebrate individuals, known as Go MAD Icons, who are making a difference through MTN Data by driving social impact, growing businesses, or sharing knowledge digitally. These icons will serve as powerful reminders of what’s possible when creativity meets connectivity.
As with the previous activations in Abuja, Enugu, Ibadan, Calabar and Benin, cultural expression will remain central to the experience, with performances and installations that pay homage to the Igbo culture while encouraging young people to take positive action in their communities.
MTN’s Go MAD campaign is not just a series of events; it’s a national call to action. By merging storytelling, digital experiences, and grassroots inspiration, the campaign continues to engage Nigeria’s youth and highlight how technology can be a force for change.
General News
Dolphin Estate Goes Pro as FXTM Hosts Lagos Monthly Crit

Cyclists, have the opportunity to gear up for an unforgettable racing experience! On Saturday, April 19th, FXTM proudly sponsors the Lagos State Monthly Crit at Dolphin Estate, Ikoyi – an event that promises speed, endurance, and the thrill of competition.
The day kicks off at 6:30 AM sharp with registration, setting the stage for an adrenaline-fueled main race starting at 7:30 AM. Over the course of four intense hours, cyclists will go head-to-head across three exhilarating categories: Professional, Junior, and Veteran. And for the champions? A cash prize starting at ₦800,000 awaits – a true reward for those who dare to push their limits.
It’s not just about the race – it’s about the experience. Expect a vibrant atmosphere with refreshments, music, and the perfect opportunity to mingle with like-minded cycling enthusiasts. Whether you’re a racer or a spectator, there’s something for everyone to enjoy.
Kelechi Ehibudu, Country Representative for FXTM, said said: “At FXTM we believe in unlocking potential and empowering individuals with ‘the freedom to succeed.’ Cycling, as a sport, perfectly captures this value – the freedom to ride, to push boundaries, and to achieve greatness. This event is part of FXTM’s global commitment to promoting fitness, well-being, and community engagement.
“We’re thrilled to bring this spirited race to Lagos. Cycling is not just a sport – it’s a celebration of determination, endurance, and the unyielding drive to succeed. It perfectly resonates with our mission to empower people to achieve their goals, both in trading and in life.”
The Lagos Monthly Crit is more than just a race – it’s a celebration of freedom, fitness, and community unity. Whether you’re competing for the prize or simply soaking in the energy of the event, this is an experience you won’t want to miss.
General News
QNET Denies Fraud Claims, Pledges Cooperation with EFCC Investigation

QNET, a globally recognized lifestyle and wellness direct-selling company, strongly refutes allegations linking it to fraudulent activities following a recent operation by the Economic and Financial Crimes Commission (EFCC) Kaduna Zonal Directorate in Minna, Niger State.
The EFCC arrested 28 individuals allegedly involved in Ponzi schemes, claiming they operated from a three-bedroom apartment in Al-Bishiri Estate and were linked to QNET.
We categorically deny any association with these individuals or their illicit activities.
While the EFCC reported recovering QNET application forms and documents during the operation, we assert that these materials are likely forged or fraudulent, as QNET’s business operates exclusively on an e-commerce platform and does not utilize physical application forms.
These items were clearly misused by unauthorized parties exploiting our brand. QNET operates a legitimate and ethical direct-selling business model, empowering independent representatives to promote high-quality wellness and lifestyle products.
As a global leader in the direct-selling industry since 1998, QNET adheres strictly to local and international regulations, maintaining the highest standards of compliance and integrity.
Statement from QNET Leadership
Biram Fall, Regional General Manager for Sub-Saharan Africa, addressed the allegations: “We are deeply concerned by the rising trend of scams falsely linked to QNET, including fake investment schemes and fraudulent job offers.
“These malicious acts not only damage our reputation but also harm unsuspecting individuals by eroding their trust and finances.
“QNET condemns all fraudulent activities and is fully committed to working with authorities to ensure justice is served.
“We urge the public to remain vigilant and verify all QNET-related opportunities through official channels to avoid falling victim to such deceptive practices.”
QNET’s Ongoing Commitment to Anti-Fraud Advocacy
Since entering Nigeria in 2022 through our local partner Transblue Nigeria Limited, QNET has prioritized financial literacy and consumer protection.
In November 2023, we launched the Say NO! campaign to educate the public about scams and Ponzi schemes, collaborating with key stakeholders such as the Lagos State Consumer Protection Agency (LASCOPA) and the Federal Ministry of Labour and Employment.
This initiative has reached thousands across Nigeria and neighboring countries like Senegal and Burkina Faso through multilingual billboards, radio campaigns, educational pamphlets, and social media outreach.
These efforts underscore our dedication to empowering communities with the knowledge to distinguish legitimate QNET services from fraudulent schemes.
Full Cooperation with Law Enforcement
QNET is committed to supporting the EFCC’s investigation into this matter. We are actively cooperating with authorities to clarify the misuse of our brand and ensure that those responsible for these fraudulent activities are brought to justice. We encourage anyone with information about this case to come forward and assist in the investigation.
Public Advisory: How to Stay Safe
To protect yourself from scams misusing QNET’s name, we advise the following:
● Verify all information about QNET through our official website: www.qnet.net.
● Report suspicious activities to our dedicated team at [email protected] or via our WhatsApp hotline at +233256630005.
● Learn more about identifying and avoiding scams at www.saynocampaign.org
QNET remains steadfast in upholding the highest ethical standards in direct selling.
We call on the media and the public to verify facts before associating QNET with unverified claims, as such misinformation can unfairly damage our reputation and the trust of our stakeholders.
For further details about QNET’s business, products, and anti-fraud initiatives, please visit www.qnet.net.
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