Business

UAE Invests in $25bn African- Atlantic Gas Pipeline

The gas pipeline will connect Nigeria’s gas network with Morocco’s southern city of Dakhla and then go northward toward Europe.

Published

1 year ago

May 9, 2025

OhiBaba

681 Views

•Gas pipelines

Morocco’s Minister of Energy Transition and Sustainable Development, Leila Benali, said that the UAE is now one of the supporters of the Nigeria to Morocco gas pipeline project, which is estimated to cost $25 billion.

“The project now called the “African-Atlantic Gas Pipeline”, has won the support of IDB, OPEC Fund, EIB and the UAE,” Benali told Nigerian lawmakers, this week.

Benali also said that Morocco has finished all the feasibility and engineering studies needed for the pipeline.

Moroccan industry experts said that the project has already passed the feasibility study and Front End Engineering Design stages.

The gas pipeline will connect Nigeria’s gas network with Morocco’s southern city of Dakhla and then go northward toward Europe.

The line will pass through 15 African countries, boosting trade, development, and access to electricity in the region.

In Phase One, it will link Morocco to gas fields near Senegal and Mauritania, and connect Ghana to the Ivory Coast.

Phase Two will link Nigeria to Ghana, while Phase Three will connect the Ivory Coast to Senegal.

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Business

Court jails illegal forex dealer two months

The EFCC stated that the defendant pleaded guilty after the charge was read to him.

Published

9 hours ago

August 5, 2026

OCHEFA

8 Views

A Federal High Court sitting in Ikoyi, Lagos, has convicted and sentenced a bureau de change operator, Dabo Malam Ardi, to two months’ imprisonment for engaging in illegal foreign exchange transactions.

The Economic and Financial Crimes Commission, in a statement on its official X account , said that Ardi was arraigned before Justice F. N. Ogazi by the Lagos Zonal Directorate 1 of the EFCC on a one-count charge bordering on illegal foreign exchange transactions.

The charge read, “That you, Dabo Malam Ardi, sometime in 2026 in Lagos State, within the jurisdiction of this Honourable Court, engaged in a foreign exchange transaction other than through the official foreign exchange market and thereby committed an offence contrary to Section 11(1)(a) of the National Economic Intelligence Committee (Establishment, etc.) Act, 1994, and punishable under Section 11(2) of the same Act.”

The EFCC stated that the defendant pleaded guilty after the charge was read to him.

Following the guilty plea, the prosecution counsel, S. I. Suleiman, reviewed the facts of the case and urged the court to convict and sentence the defendant accordingly.

Justice Ogazi subsequently found Ardi guilty and sentenced him to two months’ imprisonment, with an option of an N80,000 fine.

Business

Zenith Bank sends cyber-attack alerts to customers

It warned customers to ignore suspicious emails, text messages, and phone calls requesting sensitive banking information.

Published

9 hours ago

August 5, 2026

OCHEFA

11 Views

Zenith Bank has confirmed that hackers gained unauthorised access to part of its database, exposing limited customer information.

The bank says funds and accounts remain safe, and its banking systems have not been compromised.

The disclosure came in an email to customers on Tuesday, part of a coordinated global campaign targeting organisations across multiple sectors.

Zenith Bank said the attackers accessed a limited amount of customer information, including email addresses and phone numbers.

According to the bank, there is no evidence that hackers reached customers’ accounts, passwords, PINs, One-Time Passwords (OTPs), or funds.

The statement reassured customers that mobile and internet banking platforms, ATMs, and digital channels remain secure and fully operational.

Zenith Bank said it immediately activated its incident response protocols and cybersecurity safeguards after detecting the breach.

Investigations are ongoing, with security teams working to determine the full scope and strengthen protections against future threats.

The lender urged customers to stay vigilant against phishing attempts that often follow data breaches. It warned customers to ignore suspicious emails, text messages, and phone calls requesting sensitive banking information.

As reported by TheCable, Zenith Bank also reminded customers never to disclose passwords, PINs, OTPs, card details, or other security credentials to anyone, regardless of claims that the request comes from the bank. Cybersecurity experts have long warned that stolen contact details are often used for targeted phishing campaigns.