News
US Shutdown May Affect Nigeria’s Bond -Okonjo-Iweala
Nigeria’s Coordinating Minister of the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, said yesterday that the present shutdown in the United States of America might affect the nation’s bond trading in the international market.
Okonjo-Iweala expressed this fear at a news conference on the outcome of the Commonwealth Ministers of Finance Meeting at the ongoing Annual Meeting of the World Bank and International Monetary Fund in Washington DC, United States of America.
The US Government shutdown was prompted by the party that recently lost an election trying to overturn a law it did not like.
Okonjo-Iweala said: “The present situation in the US creates uncertainty for developing and emerging countries and that is why we look forward to a swift resolution on the issue of debt ceiling.
“If not resolved, it could upset the market.
“We could see higher interest rate that will directly affect Nigeria’s bond.
“As you know, we have not only the $500 million bond we floated two years ago but also the Euro bond.
“The highly successful Euro bond that we floated about three months ago and interest rate on that.
“We could see the price and the yield of these bonds affected and that is why we need to have more certainty in the market.”
On the outcome of the meeting, Okonjo-Iweala said that the major focus was on development needs of member-states and how to address the concerns whether they occurred in small or large member-countries.
She named the areas of focus to include issues on growth, job creation and increasing livelihood of the people.
She said: “But specifically, to get there, we focused on issues of financing the post-2015 development framework.
“We are all engaged globally on the post-2015 agenda and how to finance the goals that will come forward.
“We noted that sustainable development financing needs are enormous and there is need for additional resources, if the financing needs of the developing countries are to be met.”
She said that the group maintained that the Official Development Assistance remained vital and called on the international community to meet its existing ODA commitment in a time-bound manner.
Okonjo-Iweala said that the meeting agreed on the establishment of a well regulated financial system, adding that member-countries were advised to adopt domestic resource mobilisation.
She noted that most developing countries had already adopted domestic resources mobilisation to finance some of their projects.
The minister said that issues on how to close tax loopholes, tackle linkages, extend tax pays and harness illicit cash flows and turn them around to finance projects were also discussed.
News
US Embassy, Lagos Consulate Close Today For President’s Day
The United States Embassy in Abuja and the Consulate General in Lagos will be closed today, in observance of Presidents’ Day.
The mission made this known in a notice shared on its official X page, yesterday.
“The U.S. Embassy in Abuja and the Consulate General in Lagos will be closed on Monday, February 16, 2026, in observance of Presidents’ Day,” the post read.
According to the embassy, Presidents’ Day was originally established to honour the birthday of the former US President, George Washington, but has evolved into a day to celebrate all U.S. presidents and their leadership in shaping the country’s history.
The embassy noted that the holiday also recognises the influence of U.S. presidents on global affairs.
In a related message, the mission highlighted that Washington created the first “Badge of Military Merit,” which later became the Purple Heart. The medal still bears Washington’s image today.
Presidents’ Day is observed on the third Monday of February annually in the United States as a federal holiday.
News
Guterres Backs Nigeria’s Bid For UN Security Council Seat …Hails Tinubu’s Reforms, Regional Security Role
United Nations Secretary-General, António Guterres, has charged Nigeria with spearheading Africa’s quest for a restructured global order, describing the country as uniquely positioned to lead the continent toward superpower status.
Guterres, who backed Nigeria’s bid for the world body’s security council seat, also praised the economic reforms of the President Bola Tinubu-led administration as well as Nigeria’s leadership in stabilising the Sahel and ECOWAS regions, despite facing its own security challenges.
The UN scribe made the remarks last Friday night during a high-level bilateral meeting with Vice President Kashim Shettima on the sidelines of the 39th African Union (AU) Summit in Addis Ababa, Ethiopia.
Speaking during the meeting, Guterres said Nigeria’s large population, sustained democratic governance, vast natural and human resources, and longstanding commitment to multilateralism placed it in a unique position to lead Africa in the evolving global order.
“Given Nigeria’s demographic strength, democratic continuity and deep resource base, the country stands a real chance of leading Africa to becoming the next superpower in the evolving global architecture,” he said.
The UN Secretary-General and the vice president discussed key developments in Nigeria and the country’s expanding leadership role in promoting regional stability across West Africa and the Sahel.
Guterres commended the remarkable and outstanding reforms of the administration of President Tinubu, noting that Nigeria’s bold economic restructuring and security commitments have strengthened its continental standing.
The meeting focused on strengthening Nigeria–UN collaboration to advance global economic growth, peace and security, sustainable development, and a coordinated humanitarian response across Africa.
In his remarks, Shettima thanked the UN Secretary-General for his leadership in advancing global peace, noting that Africa has benefited immensely from his tenure, even as the United Nations undergoes internal restructuring.
“We remain committed to multilateralism and to deepening our partnerships with the United Nations and other global institutions,” the vice president said.
Shettima also reiterated Nigeria’s longstanding call for comprehensive reform of the United Nations system to reflect evolving global realities.
He emphasised that Africa must have stronger representation in global decision-making structures and declared that Nigeria deserves a permanent seat on the United Nations Security Council.
Both leaders pledged to deepen cooperation, with Guterres reaffirming the UN’s support for Nigeria’s reform agenda and its growing leadership role in advancing peace, security, and development across Africa.
News
Four To Face Death Penalty Over DPO Angbashim’s Murder
A Rivers State High Court sitting in Port Harcourt has convicted and sentenced four persons to death by hanging over the gruesome killing of the former Divisional Police Officer of Ahoada East Police Division, SP Bako Angbashim.
The presiding Judge, Justice Sika Aprioku, in a landmark judgment, last Thursday, found the quartet guilty of conspiracy, murder, membership of a secret cult group and robbery, saying the prosecution proved its case beyond reasonable doubt.
Those sentenced to death by hanging are Robinson Sonabari, identified as a native doctor; Bright Okparawo; Precious Amaeze, popularly known as Selina; and Loveday Jack, also known as Ragged Excess. The court ordered that they be hanged by the neck until they are confirmed dead.
Justice Aprioku also convicted the sixth defendant, Samuel Nwadinma, and sentenced him to three years imprisonment for conspiracy.
The third accused person was, however, discharged and acquitted of the four-count charge.
In the same vein, the court discharged Famous Okechukwu, Samuel Uchendu, Oyekachi Ikonwa, Godbless Nnamdi and Marshall Daniel, who were earlier found guilty of membership of a secret cult group, on the grounds that they had already served the maximum terms prescribed by law in the correctional facility.
The court held that among those convicted was the native doctor who allegedly prepared the charm used in the killing of the late DPO.
Speaking with newsmen shortly after the judgment, the lead prosecution counsel from the Rivers State Ministry of Justice, Chigozie Amadi, alongside a representative of the police legal team, Celestine Dickson, commended the judiciary for ensuring that justice was served.
Dickson, who represented the Nigeria Police Force in the joint prosecution, expressed concern that officers saddled with the responsibility of protecting lives and property had increasingly become targets of criminal elements.
He, however, expressed optimism that the judgment would serve as a strong deterrent to would-be offenders.
Also reacting, the elder brother of the late DPO, Akasco Angbashim, who travelled from Nasarawa State to witness the judgment, said the verdict had healed a long-standing wound inflicted on the family since the brutal murder of their brother.
He commended the judiciary, the Rivers State Government and the police for their commitment to justice, stressing that the judgment sends a clear message that no individual has the right to unlawfully take another person’s life.
The four convicts were among 72 persons initially arraigned before the State High Court by a joint prosecution team comprising the Department of Public Prosecutions and the Rivers State Police Command over the murder.
During the trial, 61 accused persons, including the Eze Ekpeye Logbo, Eze Kelvin Anugwo, and a former Ahoada East Council Chairman, Cassidy Ikegbidi, were discharged and acquitted for lack of evidence, leaving 13 defendants to face judgment.
SP Angbashim was gruesomely murdered on September 8, 2023, during a police operation in Odemude community, Ahoada East Local Government Area.
His killing sparked tension in the area, prompting a joint security operation that led to the death of the suspected cult leader, David Okparanwo, popularly known as 2Baba.
By: King Onunwor
-
Politics4 days agoAPC Releases Adjusted Timetable For Nationwide Congresses, Convention
-
Sports3 days ago
DG NIS Wants NSC Board Constituted, Seeks Increased In Funding
-
Business3 days agoCustoms Seek Support To Curb Smuggling In Ogun
-
Featured3 days agoINEC Proposes N873.78bn For 2027 Elections, N171bn For 2026 Operations
-
Sports3 days agoSWAN Rivers Set-up Five Functional Committees
-
News3 days ago
Police Bust Kidnapping Syndicate In PH
-
Sports3 days ago
NSC Disburses N200m Training Grants To 26 Athletes
-
Sports3 days ago
‘NTF Will Build On Davis Cup Success For Brighter Future’

