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FG offers dollar denominated FGN bond valued at $500m for subscription

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The Federal Government has offered one FGN bond valued at 500 million dollars for subscription to interested investors.

According to the Debt Management Office (DMO) in a statement on Monday, it is a five-year domestic FGN dollar bond due in 2029, at an interest rate of 9.75 per cent per annum.

The opening date for the offer is Aug. 19, closing date is Aug. 30, while, settlement date is Sept. 6.

“It is offered at 1,000 dollars per unit subject to a minimum subscription of 10,000 dollars (10 units), and in multiples of 1,000 dollars thereafter.

“Coupon payment is semi-annually, while bullet repayment (principal sum) is on maturity date.,” DMO said.

It listed eligible investors as Nigerian residents, Nigerians with savings abroad, Nigerian diaspora, and qualified institutional investors.

“Payment shall only be made through the banking system and electronic transfers into the designated accounts.

“No cash deposits will be accepted under this transition, except where such cash deposits have been made into the domiciliary accounts for not less than 30 days prior to the date of offer,” it said.

The DMO said that the dollar-denominated FGN bond was backed by the full faith and credit of the Federal Government of Nigeria, and granted liquid asset status by the Central Bank of Nigeria. (CBN).

“It qualifies as securities in which trustees can invest under the Trustee Investment Act.

“Qualifies as securities in which the Pension Fund Administrators can invest under the Pension Act.

“Qualifies as government securities within the meaning of Company Income Tax Act and Personal Income Tax Act for tax exemption for pension funds among other investors,” it said.

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It said that the dollar-denominated FGN bond would be listed in the Nigerian Exchange Limited and FMDQ OTC Securities Exchange Limited.

The News Agency of Nigeria (NAN) reports that the Federal Government through the Debt Management Office (DMO) on Thursday announced plans to issue the N500 million dollars local bond to boost dollar liquidity.

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, said that dollar funding was critical for the exchange rate to stabilise. (NAN

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National

Alake, Ayankele to Lead Workshop on Illegal Mining

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The Minister of Solid Minerals Development, Dele Alake, and the Chairman of the Miners Association of Nigeria, Engr Dele Ayanleke, are expected to headline a national workshop aimed at addressing the growing challenges of illegal mining and mineral smuggling.

Scheduled to take place from 29 to 30 April 2025 at the Nicon Luxury Hotel in Abuja, the event is being organised by Allied Bond Consulting.

It is expected to bring together policymakers, security chiefs, and industry stakeholders to discuss strategies for securing mining sites and fostering sustainable development within mining communities.

In a statement jointly signed by the Chairman of the Organising Committee, Ahmed Yahya, and the Workshop Coordinator, Willie Tawo, the organisers said the two-day event would focus on “articulating pragmatic strategies and proactive measures to combat the menace of illegal mining and smuggling.”

The workshop also aims to promote international best practices in mining operations, enhance security at mining sites, and explore how the sector can attract further investment and serve as a catalyst for Nigeria’s economic diversification.

Participants will deliberate on creating a stable, secure environment for mining, promoting peaceful coexistence in host communities, and using the solid minerals sector as a platform for building the country’s industrial base.

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Princess Adejoke Orelope-Adefulire Congratulates Otunba Olufemi Pedro on LASU Honorary Doctorate

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The Senior Special Assistant to the President on Sustainable Development Goals (SSAP-SDGs), Princess Adejoke Orelope-Adefulire, has congratulated former Deputy Governor of Lagos State, His Excellency, Otunba Olufemi Pedro, on the conferment of an Honorary Doctorate Degree by the Lagos State University (LASU), Ojo.

The honorary degree is being awarded as part of the institution’s 28th Convocation Ceremony, scheduled to hold on Thursday, 10th April 2025, at the Buba Marwa Auditorium, Main Campus, Lagos.

In a statement released on Wednesday by her Special Assistant on Media, Publicity and Strategic Communications, Desmond Utomwen, Princess Orelope-Adefulire described the honour as “well-deserved and long overdue,” noting that Otunba Pedro’s life and career reflect a legacy of excellence, innovation, and integrity in both the public and private sectors.

“Otunba Pedro’s remarkable journey—spanning the financial sector and public service—is a shining example of visionary leadership and selfless dedication to national development,” the statement read.

“As former Deputy Governor of Lagos State, he played a pivotal role in laying the foundations for the fiscal reforms that have contributed immensely to the state’s economic growth and transformation.”

Princess Orelope-Adefulire further stated that the conferment by LASU is not just a recognition of Pedro’s achievements, but an affirmation of the enduring values he represents: humility, integrity, and service to humanity.

She commended the Lagos State University for recognising one of its most distinguished alumni, adding that the honour would serve as motivation for emerging leaders and professionals across Nigeria and beyond.

“This award is a timely reminder that true greatness is measured not only by accomplishments, but by the positive impact one has on people, institutions, and society at large,” she added.

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She prayed for God’s continued guidance, strength, and good health for Otunba Pedro as he continues to contribute meaningfully to the development of Lagos State, Nigeria, and the global community.

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Group Slams Zamfara Governor,Daudae Over Insecurity

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A civil society organisation in Zamfara State has strongly criticised Governor Dauda Lawal, accusing him of gross incompetence and failure to secure the lives and property of the citizens under his watch.

In a scathing statement signed by the group’s Publicity Secretary, Dr Suleiman Ibrahim Usman, the organisation alleged that Governor Lawal has abandoned his responsibilities, choosing instead to blame his predecessor, Dr Bello Matawalle, for the state’s persistent security challenges.

“Governor Lawal has failed woefully in his primary duty of safeguarding the people of Zamfara,” the group said.

“Rather than tackle the escalating insecurity, he spends his time pointing fingers at his predecessor, all while living lavishly and ignoring the plight of his people.”

The group criticised what it described as the governor’s “luxurious lifestyle”, claiming that while communities in the state suffer from hunger, sickness, and fear of bandit attacks, Governor Lawal is busy acquiring exotic vehicles.

“It is disgraceful for a leader of a traumatised state to indulge in such extravagance,” the statement read.

The statement further accused the governor of mismanaging the state’s increased federal allocation and internal revenue, questioning what tangible security investments have been made since he assumed office.

“Under Governor Matawalle, despite limited funds, security agencies received over 200 Hilux vehicles and motorcycles. What has Governor Lawal done with the increased allocation?” the group queried.

The civil society group also criticised the ongoing road projects in the state, describing them as mere reconstructions of long-standing roads rather than the development of new infrastructure.

“These are not new roads; they are just politically motivated renovations focused mostly on his own local government area,” the statement alleged.

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It condemned aides of the governor for attacking the current Minister of State for Defence, Dr Bello Matawalle, saying he had contributed to improved security in the state.

“Thanks to Matawalle’s interventions, many villages are now able to sleep with both eyes closed, and farming activities are gradually returning,” Dr Usman claimed.

“It is only hypocrites or those who have never stepped foot in Zamfara that would commend this administration. We challenge anyone to visit the state and see the suffering of the people firsthand.”

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