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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
CDS), General Christopher Musa, has warned that military takeovers in West Africa pose a significant threat to democratic values and regional stability.
Politics
National Agency for Food and Drug Administration and Control (NAFDAC) has destroyed fake, expired, and substandard goods worth ₦1.3bn in Abuja.
Independent Electoral Commission (INEC) has dismissed claims of discrepancies between the results on its website and those presented by returning officers at the National
Chief of the Air Staff, Air Marshal Hasan Abubakar, was in Kainji, Niger State, earlier today, 15 August 2024, to celebrate the achievement of a significant flying milestone
Kano State High Court, carting away crucial documents related to corruption charges against the former governor of Kano State, Abdullahi Umar Ganduje.
The Economic and Financial Crime Commission (EFCC) has made a case for a specialized court to try culprits of oil theft in the country.
The World Health Organisation on Wednesday declared the mpox surge in Africa was now a global public health emergency, sounding its highest possible alarm over the worsening situation.
On February 18, 1947, the Daily Service newspaper published a story whose theme, like the ancient Secretarybird, has remained with Nigeria ever since. It is a story of the affinity between sex and corruption. Son of Alake of Egbaland and a no-nonsense judge,
Health
Tedros Ghebreyesus, Director-General, World Health Organisation (WHO) on Tuesday, said the organisation regretted the decision of the United States to withdraw from it.
Earlier, U.S. President Donald Trump signed
Politics
Nigerian music executive, Don Jazzy, has lamented his relationship status.
Lifestyle
The Police Command in the Federal Capital Territory (FCT), has detained a woman for allegedly abandoning her one-day old baby along a bush path in Abuja.
No fewer than three policemen and one suspect were killed in a fatal road accident that reportedly occurred on the Benin-Ore-Ijebu Ode Expressway in Ore, the headquarters of
National Bureau of Statistics (NBS) has reported over 25 million phone thefts between March 2023 and April 2024, according to its Crime Experience and Security Perception Survey 2024.
Lagos State House of Assembly under the Speaker, Mudashiru Obasa, spent at least N200million on Friday evening to organise a lavish end-of-year party for its members amid the gruelling economic hardship being faced by most residents in Lagos and nationwide.
Commander, 34 Artillery Brigade of the Nigerian Army, Obinze, near Owerri, Brig.-Gen. Usman Lawal, has declared Imo safe for the Yuletide celebrations, going forward
FCT Police Command has recovered a todller stolen from his school in Port Harcourt.
Defence Headquarters has debunked the allegations levelled against it by Amnesty International, calling on the organization to