News
DMO Opens FG Savings Bond Subscription At 18.06%
Published
1 year agoon
By
Editor
The Debt Management Office has opened subscriptions for two Federal Government’s savings bonds, each priced at N1,000 per unit at 17.06 and 18.046 per cent, respectively.
It disclosed this in a statement accessed on its website by PUNCH on Wednesday.
The DMO offered a two-year savings bond expected to mature on April 9, 2026, at 17.046 per cent per year.
This bond is designed for retail investors and offers guaranteed quarterly interest payments along with repayment of the principal at maturity.
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The second is a three-year savings bond due to mature on April 9, 2027, at an interest rate of 18.046 per cent.
Similar to the two-year bond, this option also provides quarterly interest payments and principal repayment.
DMO is a government agency established to centrally coordinate the management of Nigeria’s debt.
Investor interest in the FGN Savings Bond has been on the rise, with a 19.3 per cent Year-on-year increase in subscription value, reaching N17.9bn by the end of December 2023, largely due to favorable interest rates.
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These savings bonds, like all government securities, are backed by the full faith and credit of the federal government. They also qualify as securities under the Trustees Investment Act.
Additionally, they meet the criteria for tax exemption and are considered government securities according to the Company Income Tax Act and Personal Income Tax Act.
The bonds are listed on the Nigerian Exchange Limited and serve as liquid assets for banks’ liquidity ratio calculations.
The subscription period for these bonds began on April 1, 2024, and it will close by April 5, 2024.
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The settlement date is April 9, 2024, while the coupon payment dates are as follows: Quarterly – July 9, October 9, January 9, and April 9.
The DMO noted that “the minimum subscription is N5,000, with multiples of N1,000 thereafter, up to a maximum of N50 million. Interest is paid quarterly, and the principal is repaid as a bullet payment upon maturity.”
Earlier, DMO initiated the subscription process for two-year and three-year Federal Government of Nigeria bonds for March 2024 with an interest rate of up to 16.097 per cent.
This announcement was made in a statement on the DMO’s official website. The subscription period is set to last for five days, running from March 4 to March 8, 2024.
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News
Idahosa Optimistic Shaibu Will Perform As National Sports Institute DG
Published
4 hours agoon
June 22, 2025By
Editor
The Edo State deputy governor, Hon. Dennis Idahosa, has expressed optimism that his predecessor in office, Hon. Philip Shaibu will excel in his new role as Director General of the National Institute for Sports (NIS).
The deputy governor expressed his optimism during the Thanksgiving Mass to celebrate the appointment at St. Paul Catholic Church in Benin on Sunday.
Idahosa, who appreciated President Bola Tinubu for the appointment, said Shaibu will bring to bear on the new job his experience as an astute sports administrator.
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“We are indeed grateful for what God has done. We will continue to thank God on his behalf, because, he has served our state.
“Now, God has given him the opportunity to serve the nation. We will continue to pray for him for a successful tenure,” he stated.
The former deputy governor appreciated Idahosa for according him the honour with his physical attendance at the Thanksgiving Mass.
He assured the state of his readiness to effectively be a good ambassador effectively by working to reposition of the NIS in line with the renwew hope agenda of the President.
“I will try my best to bring the institute back to life. I will ensure that the reason for setting up the NIS is achieved,” he stated.
News
Falana Slams Government Over Failure To Prosecute Suspected Killers In Benue
Published
5 hours agoon
June 22, 2025By
Editor
Human rights lawyer and senior advocate of Nigeria, Femi Falana (SAN), has criticized the Federal and Benue State Governments for consistently failing to prosecute suspects arrested in connection with ongoing violent attacks across Benue State.
In a statement issued under the platform of the Alliance on Surviving COVID-19 and Beyond (ASCAB), which he chairs, Falana lamented that although hundreds of suspects have been arrested over the years for crimes ranging from illegal possession of firearms to mass killings and kidnapping, most of them are never charged or brought to trial.
The legal luminary’s reaction follows President Bola Ahmed Tinubu’s recent visit to Benue, during which he directed the Nigeria Police Force to arrest and prosecute all those involved in the latest wave of violence in the state. However, Falana described the president’s order as potentially symbolic, pointing out that previous arrests had not led to convictions or justice for victims.
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Falana also berated the Chief of Defence Staff, General Christopher Musa, for alleging that residents of Yelwata community provided shelter for the killers. He described the statement as an attempt to shift blame onto victims instead of addressing the systemic failures of security and governance.
Providing a timeline of law enforcement actions, Falana stated:
On December 30, 2024, the Benue State Commissioner of Police, Mr. Hassan Yabanet, announced the arrest of 273 suspects involved in capital crimes, along with the recovery of 20 firearms and 51 rounds of ammunition.
On January 17, 2024, Police spokesperson Olumuyiwa Adejobi revealed that an illegal firearms factory had been uncovered in Benue. Two suspects—Friday Aduduakambe and Iorwashima Iornyume—were arrested, and a cache of weapons, including nine locally made pistols and one unfinished AK-47, was seized.
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On April 17, 2025, Governor Hyacinth Alia disclosed that three herdsmen were arrested over the killing of 11 people in the Otobi community, Otukpo Local Government Area.
On June 19, 2025, Community Volunteer Guards apprehended three suspected kidnappers at the Otukpo motor park with ransom money collected from their victims.
According to Falana, between January and June 2025 alone, dozens of violent crime suspects have been arrested, including 43 suspected killers in the last 10 days. Despite these arrests, no significant prosecutions have been reported.
“It is undoubtedly clear that the authorities have continued to treat suspected killers in Benue State like sacred cows,” he said. “The Attorney-General and Commissioner for Justice of Benue State, Mr. Fidelis Mnyim, must take immediate steps to ensure that justice is served.”
Falana stressed that the right to life, guaranteed under Section 33 of the 1999 Constitution, is meaningless unless the state acts decisively to punish those who violate it.
He warned that unless concrete action is taken, the ongoing culture of impunity will only worsen the bloodshed and erode public trust in the rule of law.
News
Troops Nab 8 Kidnap Suspects, Rescue 2 Victims In Kwara
Published
5 hours agoon
June 22, 2025By
Editor
Troops of the 22 Armoured Brigade, deployed at the Forward Operation Base (FOB) Patigi, in Kwara have nabbed eight suspected kidnappers and rescued two victims.
This is contained in a statement signed by Lt. Stephen Nwankwo, Acting Assistant Director, Army Public Relations of the Brigade in Ilorin on Sunday.
“Acting on credible intelligence, troops launched a tactical operation on Saturday, targeting a hideout on the outskirts of Latandaji Village in Patigi Local Government Area.
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“During the engagement, troops encountered mild resistance, but swiftly subdued the criminals with superior firepower,” he said.
Nwankwo said that the operation led to the rescue of two kidnap victims, identified as Amos Moses and Philip Michael, while eight suspected kidnappers were arrested.
He, however, said that one Mohammed Mohammed sustained gunshot wounds during the exchange of fire and had been taken to hospital for medical attention.
The brigade spokesman said that further operational exploits in the area led to the recovery of two motorcycles and two expended cartridge shells, believed to be used by the suspects.
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“All arrested individuals are currently in military custody for preliminary investigation and will be handed over to relevant authorities for prosecution,” Nwankwo said.
He said that the operation underscores the Nigerian Army’s unwavering commitment to ensure safety of lives and property across the country.
“We urge members of the public to continue providing actionable intelligence to security forces in order to dismantle criminal networks.
“The Nigerian Army remains resolute in its mission to safeguard communities and restore lasting peace in all regions of deployment,” he said.
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