Business
FG Makes N196.3m From Savings Bond In Jan – DMO
The Federal Government says it made N196.3 million from sales of savings bond in January.
This is according to the Debt Management Office (DMO).
The results of the sales published on the DMO website on Monday, showed that N73.05 million was allotted at 12.09 per cent with 121 successful subscriptions to mature in Jan. 2020.
It stated that N123.25 million was allotted at 13.09 per cent with 178 successful subscriptions to mature in January 2021.
The savings bond issuance is expected to help finance the nation’s budget deficit.
The bond issuance is part of the Federal Government’s programme targeted at the lower income earners to encourage savings and also earn more income (interest), compared to their savings accounts with banks.
The bonds are debt securities (liabilities) of the Federal Government, backed by its ‘full faith and credit’.
Interests are to be paid at regular periods and principal repaid at maturity.
The bonds have a tenure of between two to three years and a minimum size of investment of N5, 000 and maximum of N50 million.
The bond is aimed at deepening national savings culture, diversifying funding sources for the government and providing opportunity to all citizens, irrespective of income level to contribute to national development.
It will also enable all citizens to participate and benefit from the favourable returns available in the capital market.
Business
FEC Approves Concession Of Port Harcourt lnt’l Airport
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.”
Business
PHCCIMA Leadership Hails Rivers Commerce Commissioner for Boosting Business Ties …..Urges Deeper Collaboration to Ignite Economic Growth
