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Africa Energy Bank begins operations in Abuja with $5bn capital

A high-voltage transmission tower and power lines (stock image)
Stock image: Ron Clausen / Wikimedia Commons, CC0

A new pan-African bank dedicated to financing energy projects has officially started work in Nigeria's capital.

What happened

The Africa Energy Bank held its first general meeting in Abuja and named Helmy Ghazi as its first president, according to a statement by the African Export-Import Bank (Afreximbank) reported on Sunday, 1 November 2026. The bank has an authorised capital of $5 billion.

What the bank will do

The bank was set up by Afreximbank and the African Petroleum Producers' Organisation (APPO) to fund oil, gas and other energy infrastructure on the continent. Afreximbank estimates that Africa needs about $200 billion in energy investment to meet its development needs. Supporters of the bank say it will help African producers finance projects at a time when many Western lenders have pulled back from funding oil and gas.

Background

Nigeria won the bid to host the bank's headquarters, beating other African countries, and the Federal Government has promoted the institution as a sign of investor confidence. African oil producers have long complained that it is difficult to raise money for fossil fuel projects as global banks shift towards renewable energy. The bank is expected to fund a mix of projects, including gas processing, refineries and power generation.

What it means

For Nigeria, hosting the bank could bring jobs, international meetings and closer ties with energy investors, though analysts say its success will depend on how quickly it can raise funds and start lending.

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A Nigerian 500 naira note
Photo: CBN / Wikimedia Commons (Public domain)

Akwa Ibom announces 13th-month pension bonus and ₦10,000 payment for retirees

Akwa Ibom Governor Umo Eno has announced a 13th-month pension bonus for all pensioners in the state, plus a ₦10,000 welfare payment to be paid with November pensions. He said ₦100 billion of an inherited ₦111 billion gratuity backlog has been cleared.

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Pensioners in Akwa Ibom State are set to receive an extra month's pension, Governor Umo Eno has announced.

What was announced

Speaking at the Ibom Hall Grounds in Uyo, in remarks reported on Saturday, 31 October 2026, the governor said all pensioners in the state would receive a 13th-month pension bonus. He also announced a separate ₦10,000 welfare payment, which will be paid together with November 2026 pensions. The exact amount and payment date of the 13th-month bonus were not stated in reports.

Clearing the backlog

The governor reportedly said his government had paid ₦100 billion of a ₦111 billion gratuity backlog it inherited and planned to clear the remainder before the end of its first term. He also urged pensioners aged 65 and above to register for the state's free health insurance scheme for older people.

Background

At the event, the Nigeria Union of Pensioners presented the governor with a merit award. Unpaid pensions and gratuities are a long-standing problem in many Nigerian states, and retirees have often protested over delays. Some states have recently announced extra payments to help workers and pensioners cope with rising living costs, while the Federal Government this week unveiled a ₦50,000 monthly cash relief scheme for vulnerable households.

How people reacted

Pensioners welcomed the announcement, while some residents called on other states to follow the example.

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The Lagos skyline seen from the water
Stock image: kopee15 / Wikimedia Commons, Public domain

Three kidnapped Zamfara clerics rescued after weeks in captivity

Security forces have reportedly rescued three of six Islamic clerics who were kidnapped in Zamfara State in September while travelling to a prayer session for President Tinubu. The clerics are said to be unharmed and will be handed over to the state government.

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Three Islamic clerics who were kidnapped in Zamfara State more than six weeks ago have been freed, according to reports on Saturday, 31 October 2026.

What happened

The clerics were among six imams abducted on 12 September 2026 on the Dakko–Damri road in Bakura Local Government Area, near Sububu Forest, while travelling to Talata Mafara for a prayer gathering for President Bola Tinubu's government. Their kidnappers reportedly demanded a ransom of ₦30 million.

The rescue

The three were reportedly rescued through intelligence-led operations by the Office of the National Security Adviser and the Department of State Services, working with the police. They were said to be unharmed and in stable condition after medical checks and security debriefings, and will be handed over to the Zamfara State Government to be reunited with their families. The fate of the other three clerics was not reported, and it was not said whether any ransom was paid.

Background

Zamfara is one of the states worst affected by banditry in the North West, with frequent kidnappings on rural roads and in villages. Security agencies have stepped up operations in the region, but abductions for ransom remain common. Insecurity is a key issue in the 2027 election campaign, and opposition candidates have promised tougher action against kidnappers.

What happens next

Security agencies say efforts are continuing to secure the release of the remaining captives.

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Medics at work in an Ebola observation ward (stock image)
Stock image: DFID - UK Department for International Development / Flickr, CC BY 2.0

Two suspected Ebola cases in Adamawa test negative, NCDC says

The NCDC says two suspected Ebola cases in Yola, Adamawa State, tested negative after two rounds of laboratory testing. Nigeria still has only one confirmed case, an imported case in the FCT, and the public has been urged to rely on official information.

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The Nigeria Centre for Disease Control and Prevention (NCDC) has announced two suspected cases of Ebola virus disease in the North-East of the country.

What the NCDC said

In a social media post on Saturday, 31 October 2026, the NCDC said the two cases were suspected only and had not been confirmed. Both people have been isolated, laboratory tests are being carried out, and health workers have begun identifying and listing everyone who came into contact with them. The agency did not say which states the cases are in or give details about the patients, and said it would provide updates as verified information becomes available.

Advice to the public

The NCDC urged Nigerians to wash their hands thoroughly and often, improve sanitation and follow guidance from health authorities. Health officials generally advise anyone with symptoms such as sudden fever, weakness, vomiting or unexplained bleeding, especially after contact with a sick person or recent travel to an affected country, to seek medical care quickly and avoid self-medication.

Update: cases test negative

On Sunday, 1 November, the NCDC said the two suspected cases, in Yola, Adamawa State, had tested negative in two separate rounds of laboratory testing. The agency said it had worked with the Adamawa State Government on the investigation, that the index case in the Federal Capital Territory remains Nigeria's only laboratory-confirmed case, and that no further confirmed cases have been reported. It urged the public to stay calm and to rely only on official sources.

Background

Nigeria recorded one confirmed imported Ebola case this month in a traveller who had recently been to Uganda. That patient was evacuated to Switzerland for treatment, and dozens of contacts were monitored. The wider outbreak, caused by the Bundibugyo strain, began in the Democratic Republic of Congo in May and has now passed 10,000 confirmed cases, with nearly 5,000 deaths. Africa CDC warned this week that the continent is not winning the fight against the virus.

What happens next

Health officials say surveillance will continue, and anyone with symptoms such as fever, severe weakness, vomiting or unexplained bleeding, especially after travel or contact with a sick person, should seek care quickly and tell health workers their history.

Naija newsReported
A Nigerian 500 naira note
Photo: CBN / Wikimedia Commons (Public domain)

EFCC, ICPC and FCCPC warn celebrities they will be held accountable for promoting scams

Nigeria's anti-graft and consumer protection agencies have warned celebrities and influencers that they will be held responsible if they promote fraudulent products, such as crypto schemes and fake loan apps. They urged stars to check products with regulators before taking endorsement deals.

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Nigerian celebrities and social media influencers who advertise fraudulent products could face consequences, three federal agencies have warned.

What happened

At a joint stakeholder meeting in Abuja on Friday, 30 October 2026, the Federal Competition and Consumer Protection Commission (FCCPC), the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) reportedly said they would no longer accept claims of ignorance from celebrities whose endorsements lead Nigerians into scams.

What the agencies said

FCCPC Executive Vice Chairman Tunji Bello said celebrities would be held accountable for the products they promote. EFCC Chairman Ola Olukoyede warned that influencers who promote fraud would be treated as accomplices, saying the trust fans place in them must not be abused. The ICPC said fake endorsements undermine consumer confidence and fuel corruption. The agencies said skit makers, musicians and actors had promoted crypto schemes and fake loan apps that cost many Nigerians billions of naira.

Advice

The agencies urged celebrities to check products with regulators such as NAFDAC, the Securities and Exchange Commission and the FCCPC before signing endorsement deals. They also asked members of the public to report suspicious products and adverts that seem too good to be true.

Background

Several high-profile investment schemes promoted online have collapsed in recent years, leaving thousands of investors out of pocket. Some entertainers who advertised such schemes later faced public anger, and regulators have repeatedly warned about unregistered investment platforms and loan apps. The FCCPC publishes an updated list of approved digital lenders.