Business
Nigeria Sells N101bn Treasury Bills
Nigeria sold N101.22 billion naira ($642.67m) worth of treasury bills last week at a regular debt auction, with yields on the 91-day inching up while the 182-day bill had lower yields than at the previous auction, the central bank said on Thursday.
The regulator sold 37.49 billion naira of the 91-day treasury bill at a 14.30 percent marginal rate, up from 14.18 percent at the previous auction.
The central bank auctioned 63.73 billion naira in the 182-day bill at 15 percent, compared with 15.48 percent previously, the bank said in a statement.
Total demand stood at 326.57 billion naira versus 328.78 billion naira at the last auction.
Yields on Nigeria’s most liquid 3-year government bond fell on the secondary market on Wednesday, after a surprise decline in inflation and a move by the central bank to hold rates steady for a third time in a row.
Nigeria, Africa’s second biggest economy after South Africa, issues treasury bills regularly as part of monetary control measures to help lenders manage their liquidity.
Business
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Business
Senate Orders NAFDAC To Ban Sachet Alcohol Production by December 2025 ………Lawmakers Warn of Health Crisis, Youth Addiction And Social Disorder From Cheap Liquor
The upper chamber’s resolution followed an exhaustive debate on a motion sponsored by Senator Asuquo Ekpenyong (Cross River South), during its sitting, last Thursday.
He warned that another extension would amount to a betrayal of public trust and a violation of Nigeria’s commitment to global health standards.
Ekpenyong said, “The harmful practice of putting alcohol in sachets makes it as easy to consume as sweets, even for children.
“It promotes addiction, impairs cognitive and psychomotor development and contributes to domestic violence, road accidents and other social vices.”
Senator Anthony Ani (Ebonyi South) said sachet-packaged alcohol had become a menace in communities and schools.
“These drinks are cheap, potent and easily accessible to minors. Every day we delay this ban, we endanger our children and destroy more futures,” he said.
Senate President, Godswill Akpabio, who presided over the session, ruled in favour of the motion after what he described as a “sober and urgent debate”.
Akpabio said “Any motion that concerns saving lives is urgent. If we don’t stop this extension, more Nigerians, especially the youth, will continue to be harmed. The Senate of the Federal Republic of Nigeria has spoken: by December 2025, sachet alcohol must become history.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
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