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FG’s Bond Offer Rose By N1.99trn In Six Months – CBN

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4 years ago

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The Central Bank of Nigeria (CBN) has disclosed that the Federal Government’s bond offer and allotment rose by N1.99tn in the first six months of last year.
According to the apex bank, the bond offer and allotment rose from the N11.67tr recorded in 2020 to N13.66tr recorded last in 2021 within the same period.
The CBN disclosed this through its Financial Market Department in its half-year activity report for 2021, which was made available to newsmen.
The Nigeria’s apex bank has attributed the rise to government’s drive to fund fiscal deficit from the domestic market.
“In the review period, FGN bonds worth N900bn was offered, while public subscription and sale stood at N1.73tn and N1.42tn, respectively. The amount offered comprised new issues and re-openings of FGN bonds.
“In the corresponding period of 2020, FGN bonds issue, subscription and allotment were N615bn, N2.45tn and N1.31tn, respectively. The increase in offer and allotment in the first half of 2021 was attributable to the government’s drive to fund fiscal deficit from the domestic market.
“Consequently, the total value of FGN bonds outstanding at end of June 2021 stood at N13.66tn, compared with N11.67tn at end-June 2020, indicating an increase of N1.99tn or 17.01 per cent”, the report established.
Also, the report has it that in the first half of 2021, there was no new issue of the Federal Republic of Nigeria Treasury Bonds.
Consequently, it added, that the outstanding stock stood at N100.99bn, same as at end-June 2020.
A breakdown of the outstanding showed that the CBN held N18.01bn, while N82.98bn was held in the sinking fund.
In the corresponding period of 2020, it added that CBN held N27.99bn, while N73bn was held in the sinking fund.
The report stated that during the first six months of 2020, “the total NTBs issued and allotted was N1.6tn apiece, indicating an increase of N149.94bn or 9.89 per cent above N1.52tn issued and allotted apiece, in the corresponding period of 2020.
“Total public subscriptions stood at N3.1tn, compared with N2.9tn in the corresponding period of 2020.
“The increase in public subscription was attributed to the increased yield on NTBs, which was market driven amidst investors’ demand for higher yields”, it stated.
It added that the holding structure of the instrument indicated that Deposit Money Banks took up N1.25tn or 75.31 per cent, while mandate and internal funds customers, including CBN branches accounted for the balance of N411.22bn or 24.69 per cent.

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Kenyan Runners Dominate Berlin Marathons

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3 days ago

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September 22, 2025

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Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.

Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.

The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.

Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.

“I did my best and I am happy for this performance,” said Sawe.

“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”

Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.

In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.

Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.

Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.

 

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NIS Ends Decentralised Passport Production After 62 Years

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3 days ago

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September 22, 2025

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The Nigeria Immigration Service (NIS) has officially ended passport production at multiple centres, transitioning to a single, centralised system for the first time in 62 years.
Minister of Interior, Dr Olubunmi Tunji-Ojo, made the disclosure during an inspection of the Nigeria’s new Centralised Passport Personalisation Centre at the NIS Headquarters in Abuja, last Thursday.
He stated that since the establishment of NIS in 1963, Nigeria had never operated a central passport production centre, until now, marking a major reform milestone.
“The project is 100 per cent ready. Nigeria can now be more productive and efficient in delivering passport services,” Tunji-Ojo said.
He explained that old machines could only produce 250 to 300 passports daily, but the new system had a capacity of 4,500 to 5,000 passports every day.
“With this, NIS can now meet daily demands within just four to five hours of operation,” he added, describing it as a game-changer for passport processing in Nigeria.
“We promised two-week delivery, and we’re now pushing for one week.
“Automation and optimisation are crucial for keeping this promise to Nigerians,” the minister said.
He noted that centralisation, in line with global standards, would improve uniformity and enhance the overall integrity of Nigerian travel documents worldwide.
Tunji-Ojo described the development as a step toward bringing services closer to Nigerians while driving a culture of efficiency and total passport system reform.
According to him, the centralised production system aligns with President Bola Tinubu’s reform agenda, boosting NIS capacity and changing the narrative for improved service delivery.
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FG To Roll Out Digital Public Infrastructure, Data Exchange, Next Year 

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3 days ago

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September 22, 2025

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The National Information Technology Development Agency (NITDA) has announced plans to roll out Digital Public Infrastructure (DPI) and the Nigerian Data Exchange (NGDX) platforms across key sectors of the economy, starting in early 2026.
Director of E-Government and Digital Economy at NITDA, Dr. Salisu Kaka, made the disclosure in Abuja during a stakeholder review session of the DPI and NGDX drafts at the Digital Public Infrastructure Live Event.
The forum, themed “Advancing Nigeria’s Digital Public Infrastructure through Standards, Data Exchange and e-Government Transformation,” brought together regulators, state governments, and private sector stakeholders to harmonise inputs for building inclusive, secure, and interoperable systems for governance and service delivery.
According to Kaka, Nigeria already has several foundational elements in place, including national identity systems and digital payment platforms.
What remains is the establishment of the data exchange framework, which he said would be finalised by the end of 2025.
“Before the end of this year and by next year we will be fully ready with the foundational element, and we start dropping the use cases across sectors,” Kaka explained.
He stressed that the federal government recognises the autonomy of states urging them to align with national standards.
“If the states can model and reflect what happens at the national level, then we can have a 360-degree view of the whole data exchange across the country and drive all-of-government processes,” he added.
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