• Monday, June 24, 2024
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Five things to know to start your Wednesday


Lagos issues N134.8bn long-tenure capital market bonds

Lagos State on Tuesday issued a 10-year bond and a seven-year bond valued at N115 billion at 15.25 percent and N19.815 billion at 14.7 percent, respectively. The total amounted to N134.8 billion.

The bonds are part of the state government’s initiative to raise funds from the capital market to finance the delivery of key infrastructure projects.

Governor Babajide Sanwo-Olu presided over a ceremony where the state government, issuing parties, and trustees signed transaction instruments for the first sets of allotments in the N1 trillion Debt and Hybrid Issuance Programme.

The 10-year tenure bond is a product of its fourth issuance under the Debt and Hybrid Issuance Programme duly approved by the State House of Assembly, while the seven-year tenure bond valued at N19.815 billion at 14.7 percent Fixed Return Forward-Ijarah Lease Sukuk, billed to mature by 2030, marks the first shariah-compliant instrument to be issued by the state government.

Read more: Lagos issues N134.8bn long-tenure capital market bonds

FG to handover 13 milk collection centres to milk processors

The Federal Government said that it was going to hand over 13 fully equipped milk collection centres that it constructed in seven states to milk processors.

It made this disclosure on Tuesday through the Federal Ministry of Agriculture and Rural Development at a press briefing in Abuja to celebrate the 2023 World Milk Day, jointly organised by the FMARD, the Commercial Dairy Ranchers Association of Nigeria, and the Abuja Chamber of Commerce and Industry.

Speaking at the event, Mahmood Abubakar, Minister of Agriculture and Rural Development, said the United Nations had set aside the 1st of June of every year as World Milk Day.

Abubakar said this year’s theme, “Sustainable Dairy: Good for Planet, Good for You,” is targeting changing the focus and narrative on making milk collection, production, and processing climate smart.

Abubakar said the FMARD would use the event to showcase its achievements in milk production, collection, processing, and transportation, as well as educate Nigerians on how far the national programmes on pasture development, animal feed and feed security, breeding and conservation, and dairy development have achieved under the National Livestock Transformation Plan.

Bauchi, Kaduna, Jigawa, leads in ICAN accountability index

Bauchi, Kaduna, and Jigawa States have come up first, second, and third, respectively, in the Chartered Institute of Accountants of Nigeria Accountability Index.

The three northern states were recognised for their phenominal performance and awarded at the ICAN headquarters, Victoria Island, Lagos, on Monday during the public presentation of the 2020 and 2021 reports of the ICAN-AI.

Speaking during the presentation of the two-year reports, Tijjani Isa, President of ICAN, said the programme was gaining so much attention and attracting the interest of stakeholders in Nigeria’s public finance management system.

The programme, which was launched in 2017, was put in place by the professional body for assessing public finance management and public governance practises in Nigeria.

‘All is not well with PDP’ Jerry Alagbaoso, Rep-member says as he defects to APC

“All is not well with the PDP,” Jerry Alagbaoso, Chairman of the House of Representatives Committee on Public Petition, said on Tuesday as he tendered his resignation from the Peoples Democratic Party (PDP) on the floor of the House.

Alagbaoso used the opportunity to also announce his defection to the All Progressives Congress (APC), which is coming one month before the end of the current Assembly.

In a letter read on the floor of the House, he said all is not well with the PDP in Imo State.

He said, “All is not well in Imo State, PDP. This explains why three of our colleagues from Imo State and PDP extraction in the House of Representatives defected to the APC a few weeks ago.

“I will not be an exception considering the man-made confusion and headaches of the PDP in Imo.

“What is happening in Imo PDP is not satisfactory to those people (members) and my colleagues who crossed over, and it is also not satisfactory to me.

“The time for me to leave PDP and join my colleague and my brothers in APC is now,” he said.

Netflix expands password sharing crackdown around the world

Netflix Inc. on Tuesday expanded its crackdown on password sharing to the United States and more than 100 other countries, alerting users that their accounts cannot be shared for free outside of their households.

Netflix said it was sending emails about account sharing to customers in 103 countries and territories, including the United States, Britain, France, Germany, Australia, Singapore, Mexico and Brazil.

The emails state that a Netflix account should only be used in one household. Paying customers can add a member outside of their homes for an additional fee. In the United States, the fee is $8 per month. (Reuters)