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Spain based businessman, 50-year-old Francis Akajiobi, has been arrested by operatives of the National Drug Law Enforcement Agency, NDLEA, at the departure
National Drug Law Enforcement Agency (NDLEA), says it has arrested 17 suspects and destroyed 31,250 kilogrammes of cannabis in Osun.
Terseer Ugbor (APC-Benue), says Nigeria is at a crossroad and the citizenry cannot afford to undermine her economy sequel to the planned protest slated for Aug. 1.
Fast rising singer, Royal Onyedikachi known as Phantom Burger is set drop a new single “100 meter” featuring Lyta and Picazo Rhap.
Kenneth Okonkwo, a former spokesman for the Labour Party’s presidential campaign council, has announced his departure from the party.
Nigerian singer and Afro Pop star, Yemi Alade, has opened up on her latest album, ‘Rebel Queen’, describing it as the most intentional.
Police Command in Lagos State has arrested five persons, including a couple, over their alleged involvement in selling a two-month-old baby.
Politics
Former President Muhammadu Buhari has expressed deep sorrow over the recent tragic stampedes in Oyo State, the Federal Capital Territory (FCT), and Anambra State, which resulted in significant loss of lives and injuries. In a condolence message released on Sunday, Buhari extended his sympathies…
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.
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
National Agency for Food and Drug Administration and Control (NAFDAC) has expressed concern over its staff shortage, which was limiting the agency’s effectiveness in its regulatory duties.
Politics
Popular crossdresser Idris Okuneye, also known as Bobrisky, has asked human rights activist and lawyer, Femi Falana, and his son, Folarin, popularly known as Falz, to hold controversial media critic Martin Otse, also
Lifestyle
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
FCT Police Command. A distress call from Shandam Michael reported a shocking event involving Ismail Usman, a local herbalist known for his unconventional
News
Former President Muhammadu Buhari has expressed deep sorrow over the recent tragic stampedes in Oyo State, the Federal Capital Territory (FCT), and Anambra State, which…
President Bola Tinubu cancelled all his official events in Lagos today, including his attendance at the 2024 Lagos Boat Regatta in honour of the stampede victims in Abuja and Okija, Anambra State.