General
Afreximbank Raises $527m from Second Samurai Bonds Sale
By Adedapo Adesanya
The African Export-Import Bank (Afreximbank) has successfully closed its second Samurai bond transaction, securing a total of JPY 81.8 billion ($527 million) through regular and retail Samurai Bonds offerings.
Samurai bonds refer to Yen-denominated bonds issued in Japan by non-Japanese entities like Afreximbank. They are sold to Japanese investors under Japan’s market rules.
The execution surpasses the African bank’s 2024 debut issuance size, attracting orders from more than 100 institutional and retail investors, marking a renewed demonstration of strong Japanese investor confidence in the Bank’s credit and its growing presence in the yen capital markets.
On November 18, Afreximbank priced a JPY 45.8 billion 3-year tranche in the Regular Samurai market following a comprehensive sequence of investor engagement activities leveraging Tokyo International Conference on African Development (TICAD9), including Non-Deal Roadshows (NDRs) in Tokyo, Kanazawa, Kyoto, Shiga and Osaka, a Global Investor Call, and a two-day soft-sounding process which tested investor appetite across 2.5-, 3-, 5-, 7-, and 10-year maturities.
With market expectations of a Bank of Japan interest rate increase, investor demand concentrated in shorter tenors, resulting in a focused 3-year tranche during official marketing.
The tranche attracted strong participation from asset managers (22.3 per cent), life insurers (15.3 per cent), regional corporates, and high-net-worth investors (39.7 per cent).
Concurrently, Afreximbank priced its second Retail Samurai bond on November 18, a JPY 36.0 billion 3-year tranche—more than double the inaugural JPY 14.1 billion retail Samurai issuance completed in November 2024. The 2025 retail Samurai bond also marks the first retail Samurai bond issued in Japan in 2025.
Following the amendment to Afreximbank’s shelf registration on 7 November 2025, SMBC Nikko conducted an extensive seven-business-day demand survey through its nationwide branch network, followed by a six-business-day bond offering period. The offering benefited from strong visibility supported by Afreximbank’s investor engagement across the country, including the Bank’s participation at TICAD9, where Afreximbank hosted the Africa Finance Seminar to introduce Multinational Development Bank’s mandate in Africa and its credit profile to key Japanese institutional investors.
SMBC Nikko Securities Incorporated acted as Sole Lead Manager and Bookrunner for both the Regular and Retail Samurai transactions.
Mr Chandi Mwenebungu, Afreximbank’s Managing Director, Treasury & Markets and Group Treasurer, commented, “We are pleased with the successful completion of our second Samurai bond transactions, which marked a significant increase from our inaugural Retail Samurai bond in 2024, and which reflect the growing depth of our relationship with Japanese investors. The strong demand, both in the regular and retail offerings, demonstrates sustained confidence in Afreximbank’s credit and mandate,”
“We remain committed to deepening our engagement in the Samurai market through regular investor activities and continued collaboration with our Japanese partners.”
General
DSS Accuses Malami, Son of Terrorism Financing in Court
By Adedapo Adesanya
The Department of State Services (DSS) has arraigned the former Attorney General of the Federation (AGF) and Minister of Justice, Mr Abubakar Malami, and his son, Mr Abudlazizz Malami, on a five-count charge of abetting terrorism financing and illegal possession of firearms.
They were arraigned before Justice Joyce Abdulmalik of the Federal High Court in Abuja, where they pleaded not guilty to the charges.
In the charge, the former AGF was accused of knowingly abetting terrorism financing by refusing to prosecute terrorism financiers whose case files were brought to his office as the AGF in the last administration for prosecution.
Recall that the secret police had arrested Mr Malami, shortly after his release from Kuje prison in Abuja more than two weeks ago after Justice Emeka Nwite of the Federal High Court in Abuja granted him and two others bail in the sum of N500 million in another case involving the Economic and Financial Crimes Commission (EFCC).
Mr Malami and his son are also accused by the DSS of engaging in conduct in preparation to commit act of terrorism by having in their possession and without licence, a Sturm Magnum 17-0101 firearm, 16 Redstar AAA 5’20 live rounds of Cartridges and 27 expended Redstar AAA 5’20 Cartridges.
His arrest in January followed weeks of reports of surveillance by the secret police in front of the prison facility since the time Mr Malami, his wife and son were remanded there over the money laundering charges.
As per reports, Mr Malami had gathered that he would be picked up upon regaining his temporary freedom and so decided to wait out the DSS. However, after his eventual emergence, the operatives took the ex-AGF into detention again.
General
Lagos Launches Coastal Community Responder Programme for Waterways Safety
By Adedapo Adesanya
The Lagos State Waterways Authority (LASWA) has initiated an inter-agency partnership with the Centre for Rural Development (CERUD) to establish the Coastal Community First Responder Programme (CCFRP).
The first responder programme is aimed at promoting safe and secure transportation across Lagos waterways.
The initiative was unveiled during a meeting between a LASWA delegation and officials of the Ministry of Local Government, Chieftaincy Affairs and Rural Development at the secretariat in Alausa.
Leading the LASWA team, Mr Olademeji Shittu said the programme is designed to reduce fatalities and material losses on Lagos waterways, particularly in hard-to-reach coastal communities.
According to Mr Shittu, the CCFRP will focus on empowering community volunteers through targeted capacity building for sustainable rural development, while also equipping them with relevant skills that can enhance employability within the maritime sector.
He noted that trained volunteers will serve as community-based first responders, working in close collaboration with LASWA to strengthen search and rescue operations.
Providing the rationale for the programme, Mr Shittu highlighted the recurring cases of marine incidents and fatalities on Lagos waterways, often worsened by delayed emergency response in remote coastal areas.
He explained that residents of these communities are usually the first on the scene during accidents, making it necessary to formalise their role through structured training and partnerships.
He added that the collaboration with CERUD will help create a sustainable framework that aligns community development with safety and emergency response, while fostering a sense of ownership and responsibility among coastal residents.
According to a statement, the Coastal Community First Responder Programme is expected to enhance emergency preparedness on Lagos waterways, improve response times during marine incidents, and contribute to safer water transportation across the state.
General
NLC, TUC Suspend Planned Protest, Ask FCTA Workers to Resume
By Adedapo Adesanya
The Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) have suspended their planned protest in the Federal Capital Territory and instructed workers under the Federal Capital Territory Administration (FCTA) to return to their duties with immediate effect.
The directive followed an overnight engagement involving labour leaders, the Minister of the FCT, Mr Nyesom Wike, and members of the Senate Committee on the FCT.
The meeting, which began late on Monday, stretched into the early hours of Tuesday, culminating in an agreement that led to the unions’ decision to halt the protest action and restore normal activities across FCTA offices.
This comes after Justice Emmanuel Subilim of the National Industrial Court issued an interim order restraining the NLC, TUC, and three others from embarking on any form of industrial action or protest.
Ruling on an ex-parte application filed by the Minister of the FCT and the FCT Administration, Justice Subilim granted an interim order restraining the 1st to 5th respondents and their privies or agents from embarking on strike pending the hearing of the motion on notice, also ordering the 5th-9th defendants who are security agencies to ensure no break down of law and order.
The ex-parte motion, which was filed by the counsel to Mr Wike and the FCTA, Ogwu Onoja, submitted that the Chairman of the FCT council had sent a message of mobilization to members and affiliated unions for a mass protest scheduled for February 3.
This move, he noted, was in violation of the orders of court, adding that after the ruling of the court on January 27, the order of the court was served on the defendants, same day the NLC and TUC issued a statement to all affiliated unions to intensify and sustain the strike.
The statement jointly signed by both unions directed that the striking workers should resume the strike as the unions’ counsel, Mr Femi Falana, has filed an appeal against the interlocutory ruling.
He further pointed out that With the statement, JUAC issued a circular directing all employees to continue the strike.
This position they say is aimed at causing break down of law and order in the Nations capital.
The court subsequently adjourned the case until February 10 for hearing.
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