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Multi-billion-naira worth of cocaine concealed in heavy duty automobile pivot shafts, and Ghanaian fabric, Kente, among others have been recovered in a nationwide intelligence-led operation by officers of the National Drug Law

The Nigeria Security and Civil Defence Corps (NSCDC), Oyo State Command, has paraded four suspects for allegedly trafficking young women and minors for prostitution.

Speaker of the House of Representatives, Abbas Tajudeen, has named a seven-member panel that will be part of the joint committee to probe alleged economic sabotage in the petroleum and gas industry.

Tonto Dikeh, a Nollywood actress, is back in the spotlight following reports that she was arrested by Nigerian police just days after a fight with a vehicle dealer in Abuja.

Nigerian Navy is mourning the loss of its personnel, Lieutenant Commander Gideon Yashim Gwaza, who lost his life while leading a rescue operation to save 59 crew members

proposed cost of N279bn for the Second Niger Bridge Bypass by Julius Berger Plc is excessively high, the Federal Government has declared, rejecting the proposal.

Nigeria Civil Aviation Authority (NCAA) has disclosed plans to launch an automated portal to address the consumer protection needs of airline passengers and other stakeholders in the aviation sector.

6 Division, Nigerian Army, has recovered about 238,500 litres of stolen crude oil from suspected oil thieves in Bayelsa, Delta and Rivers States.

Oil theft: Troops Uncover Large-Scale Oil Bunkering Operations in Bayelsa, Rivers 

Department of State Services (DSS) has refuted claims that its operatives raided the Nigerian Labour Congress (NLC) headquarters in Abuja. 

Benue State has suspended Senator Gabriel Suswam, Terngu Tsegba, Richard Gbande, Terseer Tsumba and Professor Nicholas Ada, from the party.

Fed Govt Eyes $1bn from Sales of Dollar-denominated Bonds
The Federal Government of Nigeria has introduced its Series I Domestic USD Bond, aiming to raise a minimum of $500m from both local and international investors.
In an auction circular released, the government said it aims to double its initial offer, targeting $1bn in subscriptions through this bond auction.
However, this auction comes at a time when five of Nigeria’s Eurobonds were ranked among the worst performers in a Bloomberg index of emerging and frontier sovereign debt.
Recall that the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, had earlier affirmed that it would issue $500m domestic foreign currency-denominated bonds in August.
Edun said the government needs to attract savings from Nigerians held abroad.

“We are using the Nigerian financial system, the Securities and Exchange Commission, the banking system, the investment bankers to issue $500m in the first instance that will be available and will attract foreign currency held by Nigerians abroad and anybody else who buys into the macroeconomic reform efforts of President Bola Tinubu,” he said in an interview.
The circular stated that the bond programme has a total size of up to $2.0bn, which can be upsized depending on the issuer’s discretion.
The bond has a five-year tenor, offering a medium-term investment opportunity for investors looking for stable returns.
It was also stated that the bond’s coupon rate is benchmarked to comparable FGN Eurobonds yields, ensuring competitive returns that align with international market standards.
Interest payments will be made semi-annually, providing regular income streams to investors and enhancing the bond’s appeal.
The bond offers bullet repayment at maturity in US dollars, ensuring full repayment of the principal amount at the end of the five-year term.
The bond is open to Nigerians and non-Nigerians resident in Nigeria, Nigerians in the Diaspora, and Qualified Institutional Investors