Five things to know to start your Tuesday

DMO is auctioning a N350bn FGN February savings bond

The Debt Management Office has put N350bn worth of Government Savings Bonds back on the market in February.

These bonds will be available for purchase through auction on Monday, as stated in the official announcement from the DMO acting for the Government.

Last month’s N450bn bond auction was highly successful, raising nearly N670bn in total. Of this amount, about N606bn was divided among three different bond types that mature in 2029, 2031, and 2035. January’s bonds proved very popular with investors across all three options, with interest rates that matched current market conditions.

The current offering includes two types of previously issued bonds: N200bn worth of bonds maturing in April 2029 with a 19.30% interest rate, and N150bn worth of seven-year bonds maturing in February 2031 offering an 18.50% interest rate.

IPMAN is threatening to strike over N100bn unpaid bridging claims

The Independent Petroleum Marketers Association of Nigeria has given the government’s fuel regulatory agency seven days to pay £100bn owed to them or they will stop work.

This money is owed for the cost of transporting fuel from main depots to different parts of the country, which helps keep fuel prices the same nationwide.

The marketers warned they will withdraw their services if they aren’t paid before the deadline expires.

This threat comes after the Nigerian Midstream and Downstream Petroleum Regulatory Authority failed to pay the debt, despite making promises 40 days ago in a meeting with National Security Adviser Nuhu Ribadu. If this issue isn’t resolved, the country could face a nationwide shortage of petrol.

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Meranda may step down as Lagos Assembly Speaker

The ongoing leadership crisis in the Lagos State House of Assembly may soon be resolved thanks to intervention from top figures in the All Progressives Congress.

However, both the impeached Speaker, Mudashiru Obasa, and the current Speaker, Mojisola Meranda, might give up their positions to allow another lawmaker to lead the House.

This progress comes after several APC leaders became involved, including former governors Chief Bisi Akande (Osun), Segun Osoba (Ogun), and Akinwunmi Ambode (Lagos).

President Bola Tinubu directed this high-level APC team to sort out the political tension at the Lagos Assembly after the Governance Advisory Council failed to find a solution to the problem.

Elon Musk warned federal workers to answer his next email or be fired

Elon Musk has announced that federal workers will get another opportunity to respond to a government-wide email asking them to detail their work from last week, with a warning that those who don’t comply could lose their jobs.

“Subject to the discretion of the President, they will be given another chance,” Musk posted on X late Monday, just hours before the original deadline expired. “Failure to respond a second time will result in termination.”

Musk’s stance directly contradicts guidance previously provided by the Office of Personnel Management to agency leaders, which had informed them that the two million federal employees did not need to reply to Musk’s request. The original email, sent out on Saturday, had asked workers to list five bullet points of their weekly accomplishments and set a Monday end-of-day deadline for responses.

Putin said Europe needs to join Ukraine talks, but suggested that a peace deal is still distant

Putin says Europe will need to join Ukraine peace talks eventually, but Russia wants to build trust with the US first. He hinted that ending the war might take longer than expected.

Monday marked three years since Russia invaded Ukraine. The war has killed thousands and forced millions to leave their homes. President Trump claimed the war could end within weeks, but didn’t explain how.

Putin said in a Russian TV interview that Trump is handling the Ukraine conflict with a clear head rather than letting emotions guide him. However, Putin suggested the conflict might not end as quickly as Trump hoped.

Also, Putin mentioned that he discussed ending the Ukraine conflict during his phone call with Trump and during recent US-Russia talks in Riyadh, Saudi Arabia.

“But it was not discussed in detail,” Putin said. “We only agreed that we would move toward this. And in this case, of course, we are not refusing the participation of European countries.”