Business
CBN To Auction N93.13bn Treasury Bills
The Central Bank of Nigeria is billed to auction N93.13 billion worth of treasury bills in a Dutch auction at the end of the month.
The CBN said in its tender notice on Wednesday that the treasury bills spread across the 91-day, 182-day and 364-day tenors.
It said N28.02 billion would be offered on the 91-day tenor while N10.62 billion would be offered on the 182-day tenor.
It added that the 364-day tenor offered N93.92 billion for subscription.
The notice read in part, “All money market dealers should submit bids through the CBN S4 web interface between 9.00 am and 11.00 am on Wednesday, October 30.
“Each bid must be in multiple of N1,000 and subject to a minimum of N50,001,000.
“Authorised money market dealers can submit multiple bids. A bid may be for authorised money market dealers own account, non-money market dealers or interested members of the public.”
The CBN said the result of the auction would be announced by 11.30 a.m. on Wednesday, October 30, 2019.
It stated that it reserved the right to reject any bid, adding that allotment letters would be issued for successful bids on Thursday, October 31, 2019 while payment for the successful bids would be made not later than 11.00am on Thursday, October 31, 2019.
According to the notice, the CBN reserves the right to vary the amount on offer in line with market realities prevailing as at the period of auction of the treasury bills.
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
