News

DMO Releases N1.2 trn FGN Bond Issuance Calendar For Q3

Published

2 years ago

June 27, 2023

Editor

The Debt Management Office has indicated plans to issue Federal Government of Nigeria (FGN) bonds valued at N1.2 trillion in its third quarter “Bond Issuance Calendar” for 2023.

According to the calendar, on July 17, the DMO will re-open a 14.55 percent, April 2029 FGN bond. Valued between N80 billion to N100 billion.

It has a 10-year original tenor, with term-to-maturity of five years, nine months.

Also on July 17, the DMO will re-open a 14.70 percent, June 2033 FGN bond valued between N80 billion to N100 billion, with a 10-year original tenor and term-to-maturity of nine years, 11 months.

On the same date, the DMO will re-open a 15.45 per cent June 2038 FGN bond valued at between N80 billion to N100 billion, with 15-year original tenor, and term-to-maturity of 14 years, 11 months.

Again, on July 17, the office will re-open a 15.70 per cent, June 2053 FGN bond, valued between N80 billion to N100 billion, with 30-year original tenor, and term-to-maturity of 29 years, 11 months.

On Aug. 14, the DMO says it will, again, re-open the 14.55 per cent, April 2029 FGN bond valued between N80 billion to N100 billion, this time, with term-to-maturity of five years, eight months.

Also on Aug. 14, the DMO will re-open the 14.70 percent, July 2033 FGN bond valued between N80 billion to N100 billion, with term-to-maturity of nine years, 10 months.

It will also re-open the 15.45 per cent, June 2038 FGN bond valued between N80 billion to N100 billion on Aug. 14; this time, with term-to-maturity of 14 years, 10 months.

Also on Aug. 14, the DMO will re-open the 15.70 percent, June 2053 FGN bond valued at between N80 billion to N100 billion, with a new term-to-maturity of 29 years, 10 months.

On Sept. 11, the DMO will, again, re-open the 14.55 percent, April 2029 FGN bond, valued between N80 billion to N100 billion; with a new term-to-maturity of five years, seven months.

Also, on Sept. 11, it will re-open the 14.70 percent, June 2033 FGN bond valued between N80 billion to N100 billion; with term-to-maturity of nine years, nine months.

On the same date, it will re-open the 15.45 percent, June 2038 FGN bond, valued between N80 billion to N100 billion, with a term-to-maturity of 14 years, nine months.

Finally, on Sept 11, the DMO will re-open the 15.70 per cent, June 2053 FGN bond, valued at between N80 billion to N100 billion; with term-to-maturity of 29 years, nine months.

Recall that the FGN savings bonds, like other government securities such as the FGN savings bonds, treasury bills, and the Sukuk bond, constitute the domestic component of the government borrowing plan.

Re-openings of previously issued bonds, successful bidders would be required to pay a price corresponding to the yield-to-maturity bid that clears the volume being auctioned plus any accrued interest on the instrument.

VANGUARD

News

PHOTOS: Brazil Welcomes Tinubu With Full Military Honours In Brasília

Published

9 hours ago

August 25, 2025

Editor

Brazil on Monday rolled out full military honours at the Planalto Palace in Brasília to receive President Bola Tinubu.

Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga, disclosed this on X on Monday.

Onanuga said Tinubu was welcomed by his host, President Luiz Inácio Lula da Silva.

He wrote, “More photos of the official reception for President Tinubu at the Planalto Palace in Brasília, Monday, August 25, 2025. Brazil’s President Luiz Inácio Lula da Silva welcomed President Bola Tinubu with full military honours.”

News

Tinubu Signs Direct Flight, Other Agreements With Brazil

Published

9 hours ago

August 25, 2025

Editor

President Bola Ahmed Tinubu has signed a landmark Bilateral Air Service Agreement with Brazil, signalling the establishment of direct air links between Nigeria and South America’s largest economy.

The agreement was formalised on Monday during Tinubu’s official state visit to Brasília.

Media aide to the minister, Tunde Moshood, made this known through a statement, made available to The PUNCH.

At the signing ceremony which was witnessed by Messrs Nigerian President, Tinubu and the Brazilian President Luiz Inácio Lula da Silva in Brasilia also had the Nigeria’s Minister of Aviation and Aerospace Development, Festus Keyamo, signed the agreement on behalf of Nigeria, while Brazil’s Minister of Transport, Silvio Costa Filho, also signed for the host country.

The BASA creates a new framework for direct flights between Nigeria and Brazil, with the potential to significantly enhance trade, tourism, investment, and diplomatic relations.

The statement further noted that, “ It also marks a key step in Nigeria’s broader efforts to strengthen international partnerships and improve global connectivity.”

Tinubu had arrived in Brazil with a delegation that included Minister of Finance and Coordinating Minister of the Economy, Wale Edun; Minister of State for Foreign Affairs, Bianca Ojukwu; Minister of Agriculture and Food Security, Abubakar Kyari; and other senior government officials.

According to the statement, the Brazilian President welcomed the agreement, expressing his administration’s commitment to expanding cooperation with Nigeria in sectors such as aviation, agriculture, and infrastructure.

He described the BASA as a reflection of the strong ties between both countries and an opportunity to deepen economic and cultural collaboration.

Tinubu is also scheduled to hold meetings with key Brazilian government officials, including the President of the Senate, the President of the Chamber of Deputies, and the President of the Supreme Federal Court.

The two-day visit will include high-level discussions between Nigerian and Brazilian delegations across various sectors, as both nations explore opportunities for mutual growth and development.

The statement reads, “The ongoing state visit will also see President Tinubu meeting the President of the Brazilian Senate at the National Congress, the President of the Chamber of Deputies, and the President of the Supreme Federal Court.

“The working visit, which continues tomorrow, will also feature high-level engagements between Nigerian and Brazilian delegations across various sectors, underscoring both nations’ commitment to building a future of mutual growth and prosperity.”

News

NAFDAC Warns Of Fake Postinor-2 In Circulation

Published

9 hours ago

August 25, 2025

Editor

The National Agency for Food and Drug Administration and Control on Monday issued a public alert, warning the public about confirmed counterfeit batches of Postinor-2 (Levonorgestrel 0.75 mg) now circulating in Nigeria.

The alert follows a report from the Society for Family Health, the marketing authorisation holder, confirming that they did not import the suspect batches.

Postinor-2 (Levonorgestrel 0.75mg) is a brand of emergency contraceptive pill containing the active ingredient levonorgestrel.

NAFDAC revealed there are noticeable labelling discrepancies between the authentic and fake products.

It said, “The National Agency for Food and Drug Administration and Control (NAFDAC) hereby notifies the public of falsified Type 1 and 2 batches of POSTINOR 2 (Levonorgestrel 0.75mg) product in circulation.

“The noticeable difference was found to be as follows: The font size of the text on the pin verification sticker appears smaller and has a wrong spelling of the word Veify instead of Verify on the fake; meanwhile, the text font on the sticker of the original appears bigger and more visible. There is also a wrong spelling behind the pack of the fake “Distnibuted in Nigeria” instead of distributed in Nigeria”, NAFDAC said.

NAFDAC identified the original Postinor-2 as batch T32458H, manufactured in February 2023 with an expiry date of February 2027 and registration number 04-6985.

The agency, however, confirmed two falsified versions: Counterfeit Product (Type 1), batch T36184B, manufactured in August 2024 with an expiry date of August 2028; and Counterfeit Product (Type 2), batch 332, manufactured in March 2023 with an expiry date of February 2027, both carrying the registration number 04-6985.

It said that due to the potential presence of incorrect, substandard, or harmful ingredients, improper dosages of levonorgestrel, and a lack of sterile manufacturing conditions, poses significant risks to individual health and public safety.

“The risks of administering falsified Postinor 2 (Levonorgestrel 0.75mg) include failure of contraceptive effect, toxic or harmful contaminants, unpredictable side effects, delayed or missed opportunity for genuine emergency contraception, and potential long-term reproductive health impact. Unexpected side effects: Unknown substances can trigger allergic reactions, organ damage, or death.

“Counterfeit medicines are unregulated, untested, and illegal, making their safety and efficacy impossible to guarantee. Patients should only obtain Postinor-2 from verified pharmacies or licensed healthcare providers.

“Although Investigations are still ongoing regarding the source of the falsified product, all NAFDAC zonal directors and state coordinators have been directed to carry out surveillance and mop up the falsified product of type 1 and 2 postinor 2 (Levonorgestrel 0.75mg) within the zones and states,” it added.

NAFDAC urged consumers and healthcare providers to verify PIN stickers carefully, report suspected counterfeit products, and always purchase medications from reputable sources.