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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.
Bola Tinubu has pleaded with Nigerians to be patient with his administration, assuring the country is about to enter a new dawn.
), Mele Kyari, has declared that he will reveal the truth about the company’s operations when the time is right.
Over $10 billion is being invested by state governments and private sector companies in the development of new deep and river
How Soldier’s Warning Shot Kills Teenage Protester in Zaria– Army Spokesman
Politics
Port Harcourt refinery has not formally commenced operations despite completing its overhaul for the production of petroleum products “in order to avoid a situation
Bashir Adewale Adeniyi, has assured that the Service is committed to implementing the directive of President Bola Tinubu to remove tariffs and
Ekiti State Governor, Biodun Oyebanji has officially inaugurated the Ekiti Startup Garage, a pioneering innovation hub designed to nurture creativity, promote entrepreneurship
The monies unremitted by Revenue Generating Agencies to the coffers of the Federal Government increased to N4.1tn as of June 2024, the Federation Accounts Allocations Committee has said.
The Minister of Information and National Orientation, Mohammed Idris, has said the Tinubu Administration has set up the structures to create three million jobs for the Nigerian youth through the 3 Million Technical Talent (MTT) Programme.
A Rivers State High Court sitting in Port Harcourt, on Monday, sacked the seven-man caretaker committee of the All Progressive Congress in the state led by Tony Okocha, which was inaugurated by the National Working Committee of the party.
Republic of Ghana requires Nigerian traders to pay a $1 million deposit as foreign capital base. Hundreds of shops belonging to Nigerian traders, mainly from the Southeast
Health
Jemila Adamu, a principal agriculture officer, Home Economics Division, Kwara Ministry…
Politics
Edo State Governor, Godwin Obaseki has revealed that the 6,000-capacity Edo Arena would be named after afrobeats global star, Rema.
Lifestyle
Two men, Olufemi Bamidele, 40, and Isoje Felix, 37, were arraigned before a Customary Court Grade ‘A’, Iyaganku, Ibadan, on Friday, for allegedly stealing electrical cables.
Nigeria Labour Congress (NLC) has reaffirmed the validity of its previous statements regarding the recent negotiations between President Bola Ahmed Tinubu and its leadership.
Nigerian-South African beauty queen Chidimma Adetshina has revealed the personal struggles she has faced while pursuing her dream in pageantry
Emir of Kano Alhaji Aminu Ado Bayero was received by a mammoth crowd on Tuesday after arriving at Mallam Aminu Kano International Airport from Abuja.
Office of the Head of the Civil Service of the Federation has organized a two-day retreat for its top management and departmental heads to bring the new Head of the Civil
Popular street-pop singer Habeeb Okikiola Badmus, often known as Portable, is making waves again. The Nigerian artist shared footage
and order in the state, operatives of the Lagos State Environmental Sanitation Corps have arrested 14 miscreants who have been terrorising passersby and
News
Port Harcourt refinery has not formally commenced operations despite completing its overhaul for the production of petroleum products “in order to avoid a situation
Two years after it suspended operations over trapped funds accruing from ticket sales and other sundry factors, Emirates Airlines has concluded plans to relaunch flights into the