Author: Akintayo Adams

Nigeria’s Eurobond issuance has achieved a significant milestone, raising $2.2 billion after returning to the international market. This comes with a remarkable $9 billion oversubscription of the bond. The bond issuance, which began on Monday under the Global Medium Term Note Programme, aimed for a target issuance of $1.7 billion but was oversubscribed. The federal government plans to use the Eurobond to address the country’s fiscal deficit. The issuance included two tranches: $700 million worth of a 6.5-year Eurobond maturing in 2031 at a coupon rate of 9.625%, and $1.5 billion of a 10-year Eurobond at 10.375%. Finance Minister Wale…

Firdausi Muhammad, a 25-year-old woman from Jigawa State, has given birth to triplets, just a year after delivering twins. The triplets, consisting of a boy and two girls, were born via Cesarean section at Dutse General Hospital. All three babies are in good health and are being well cared for by the medical team. Firdausi’s husband, Dayyabu Muhammad, a junior police officer, expressed his excitement and gratitude for the new additions to their family. However, he also highlighted the challenges they face in providing for their growing family. Firdausi has appealed to the Jigawa State Governor, Umar Namadi, his wife,…

The Economic and Financial Crimes Commission (EFCC) has announced its largest asset recovery since its inception in 2003. This follows a ruling by Justice Jude Onwuegbuzie of the Federal Capital Territory High Court on the final forfeiture of an Abuja estate measuring 150,500 square meters, containing 753 units of duplexes and other apartments. The estate, located on Plot 109 Cadastral Zone C09, Lokogoma District, Abuja, belonged to a former top government official. The EFCC emphasized that the forfeiture aligns with its mandate to ensure that corrupt individuals do not benefit from their unlawful activities. Justice Onwuegbuzie ruled in favor of…

The Oyo State Government has significantly increased the 2025 capital budget allocation for Persons With Disabilities (PWDs) by over 70% compared to 2024. Governor Seyi Makinde announced this during the 2024 Stakeholders Summit and International Day of PWDs celebration in Agodi, Ibadan. Represented by his deputy, Bayo Lawal, Governor Makinde highlighted the government’s efforts to support the disability community over his four-year administration. He noted that the capital budget for PWDs has been raised to N877,500,000 from the initial N492,000,000, following requests made during the last Budget Town Hall meetings. Additionally, the overhead cost for the state Agency for Persons…

Nigerian music superstar Davido (David Adeleke), in a recent interview on Streetz94.5, a hip-hop radio station in Atlanta, shared insights about his journey and the support he received from his family during the early days of his career. Davido revealed that many people did not believe in his potential initially. He mentioned that it was primarily his family and manager who stood by his side. Davido also discussed the influence of his father’s religious values, which guided him through challenges. Reflecting on life’s hardships, Davido recalled a conversation with his father about why bad things happen to good people. His…

Edo North Senator, Adams Oshiomhole, has voiced his support for the financial autonomy of local governments in Nigeria. On July 11, 2024, the Supreme Court upheld this autonomy, marking a significant step towards decentralization. Speaking at a forum on local government autonomy organized by the House of Representatives, Oshiomhole emphasized the importance of character in governance and accountability. He advised local government chairmen to allocate resources to essential services such as roads and hospitals. In a lighter vein, Oshiomhole remarked, “It’s better to have 774 local government chairmen who are thieves than one big thief,” suggesting that with financial autonomy,…

Oxford Languages has declared ‘brain rot’ as the Oxford Word of the Year for 2024, reflecting the evolving concerns surrounding online culture and its impact on mental well-being. This decision, made public on Monday through a press release, marks a significant cultural moment as ‘brain rot’ surged in usage, especially among younger generations. Defined as “the supposed deterioration of a person’s mental or intellectual state, especially viewed as a result of overconsumption of material (now particularly online content) considered to be trivial or unchallenging,” the term gained prominence throughout 2024, resonating strongly with those worried about the effects of excessive…

The Nigeria Police Force (NPF) recently conducted a successful operation led by officers from Zone 7 Command and the National Cybercrime Centre (NPF-NCCC) in Abuja. The operation resulted in the arrest of 113 foreign nationals involved in sophisticated cybercrime activities, including internet fraud and marketing scams. Key Details of the Operation Legal Proceedings Following the investigation and recovery of evidence, the Nigeria Police Force National Cybercrime Centre (NPF-NCCC) has arraigned the 113 foreign nationals before the Federal High Court in Abuja. The suspects face serious charges, including: Impact and Future Actions The arraignment of these suspects follows extensive investigations that…

Central Bank of Nigeria Governor, Olayemi Cardoso, recently revealed that the federal government spent N6.2 trillion on foreign exchange (FX) subsidies in 2022, compared to N4.5 trillion on fuel subsidies. He made these remarks during the 59th annual Bankers Dinner of the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos. Cardoso emphasized that FX subsidy losses have been a more significant issue for the country’s revenue than fuel subsidies. He pointed out that the potential revenue lost due to a less reflective FX regime in 2022 was approximately N6.2 trillion, compared to N4.5 trillion from fuel subsidies. He also…

The Federal Government of Nigeria has been urged to remit a total of N12 billion in loans deducted from workers’ salaries without delay. The Humanity Development and Empowerment Organisation (HDEO), a money lenders association, emphasized the urgency of this remittance due to the economic hardships faced by workers. The association highlighted that the loans were deducted from civil servants’ payslips and salaries but were not credited to the lenders. During a leadership handover ceremony in Abuja, the outgoing National President, Osita Nebolisa, revealed that these loans remain unremitted. He tasked the newly elected executives, led by National President Mr. Dele…