Facts About Chinese Loans To Nigeria By DMO

DMO Opens Two FG Bonds For Subscription

The Debt Management Office (DMO), has provided an explanation on the issues of Loans obtained from China by Nigeria. According to the statement released by the Nigerian debt office, the Chinese loan represents only about 3.9% of the country’s total debt profile of $79.3bn as at end of March 2020. However, on the issue of the Chinese government taking over the national assets finance with the loan, the DMO was only able to mention the fact that the assets financed with the loan are revenue-generating assets while ignoring a direct…

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Pfizer/BioNTech Vaccine Effective After 6 Months; Moderna Starts Variant Trial

Pfizer/BioNTech Vaccine Effective After 6 months; Moderna Starts Variant Trial

Pfizer (PFE) and BioNTech’s (BNTX) COVID-19 vaccine is proving effective six months after the second dose, according to an ongoing analysis of the Phase 3 trial participants. The vaccine showed 91.3% efficacy against COVID-19, slightly lower than the original 95% seen in Phase 3 trials. The data, from 12,000 of the more than 44,000 adults in the trial, is a result of observations from seven days through six months after the second dose was received. The two companies announced the results in a statement Thursday, with plans to provide detailed…

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CBN Moves To Protect Financial Institutions From Bad Debtors

CBN moves to protect financial institutions from bad debtors

The Central Bank of Nigeria (CBN) has said it will extend its Credit Risk Management System to the other financial institutions in the country to protect them from bad debtors. It said this became imperative after it had successfully implemented it in other lending institutions in the country. The CBN said this in a circular signed by the Director, Financial Policy and Regulation Department, Kelvin Amugo, titled ‘Credit Risk Management System: Commencement of enrolment of all Development Finance Institutions, Microfinance Banks, Primary Mortgage Banks and Finance Companies’ on Monday. Part…

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Prince Philip’s Funeral:Prince Harry’s Lonely Return Home Without Meghan Is Royal History Repeating Itself

Prince Philip’s funeral:Prince Harry’s lonely return home without Meghan is royal history repeating itself

As Prince Harry boarded a plane from Los Angeles to London, we can only imagine the inner turmoil he must have felt as he prepared for the long and lonely journey home. His adored grandfather had died at a time of unprecedented familial discord, with the Royal Family still reeling from the Duke and Duchess of Sussex’s corrosive, finger-pointing Oprah Winfrey interview. Prince Philip’s death may have prompted an outpouring of national gratitude and affection, but the question now is whether it can cement the deep fissures within the House of Windsor itself. How will…

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Mercy Eke Newly Acquired Mercedes Benz G Wagon

Mercy Ekenewly acquired Mercedes Benz G Wagon

Mercy Eke is one of the very few female celebrities in Nigeria with a fleet of SUVs. Nigerian reality TV star Mercy Eke has added a Mercedes Benz Gwagon to her fleet of cars. The winner of the fourth season of Nigeria’s most popular reality TV show, Big Brother Naija, took to her Instagram page on Tuesday, April 13, 2021, where she shared videos of her new SUV. The reality TV star’s G Wagon has a customized plate number ‘M LAMBO.’ An obvious lover of SUVs, the reality TV star…

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CBN Invites Households, Businesses To Apply For N50bn COVID-19 Loans

CBN invites households, businesses to apply for N50bn COVID-19 loans

The Central Bank of Nigeria (CBN) has said that households and businesses affected by the COVID-19 can now apply for loans under its N50bn Targeted Credit Facility. It said the stimulus package was to support households and Micro, Small and Medium Enterprises affected by the COVID-19 pandemic, adding that beneficiaries could access up to N25m. This was disclosed in a tweet on Monday by the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending Microfinance Bank. The NIRSAL microfinance bank stated that interested households and businesses could apply via the link…

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DMO List N162.6bn 7yr 11.2% Al Ijarah Sovereign Sukuk on the NSE and the FMDQ Exchange

DMO Opens Two FG Bonds For Subscription

The Debt Management Office (DMO) on the 18th of March announced the listing of its third Sovereign Sukuk “₦162.557 BILLION 7-YEAR 11.200% AL IJARAH SOVEREIGN SUKUK DUE 2027” on The Nigerian Stock Exchange (NSE) and the FMDQ Securities Exchange. The Sukuk which at the time of issuance was massively subscribed to the tune of ₦669.124 Billion or 446%, was issued to finance 44 economic road projects across the six (6)-geopolitical zones. With the listing, investors who are already holding the SUKUK can trade them while new investors have an opportunity…

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United States Launches $3Million Food Security Challenge In Nigeria

United States launches $3million food security challenge in Nigeria

The challenge seeks to aid a Nigerian economy hard-hit by the COVID-19 pandemic. The U.S. Agency for International Development (USAID) has launched the USAID/Nigeria COVID-19 Food Security Challenge. With this challenge, USAID will offer $3million in funding and technical assistance to youth-led companies and mid-stage companies (those having an existing customer base of more than 1,000 people) in Nigeria in order to mitigate the impact of COVID-19 on Nigeria’s agri-food systems. In a statement, USAID says: “Nigeria is presently confronted with a food security crisis that is deepened by COVID-19 global…

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FRSC promotes 10 Senior officers, 26 others

FRSC promotes 10 Senior officers, 26 others

The Federal Road Safety Commission (FRSC) has approved the promotion of an Assistant Corps Marshal (ACM) to the rank of Deputy Corps Marshal (DCM) and nine Corps Commanders (CC) to the rank of Assistant Corps Marshal (ACM). The Corps Public Education Officer (CPEO), ACM Bisi Kazeem, who disclosed this in a statement on Tuesday in Abuja, added that 26 Deputy Corps Commanders (DCC) were also promoted to the rank of Corps Commander (CC). Kazeem said that the approval came at the end of the meeting of the Commission on 12…

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