Tranches
Dangote Cement completes issuance of N50 billion bond programme
Dangote Cement Plc has announced the successful issuance of N50 billion series 1 fixed rate senior unsecured bonds, under its new N300 billion multi-instrument issuance programme. In a statement on Tuesday, the cement producer said the bonds were issued on May 26, 2021 at coupon rates of 11.25 percent, 12.50 percent and 13.50 percent for the three, five and seven-year tranches respectively. The bonds will be listed on the Nigerian Exchange Limited and FMDQ Securities Exchange. Dangote Cement said that the proceeds of the bond issuance will be deployed for the company’s expansion projects, short-term debt refinancing and working capital requirements. “Aside from this first issuance of a traditional bond under the new Multi-Instruments Programme, Dangote Cement has registered a programme ena...
Presidency: One million Nigerians benefitting from survival fund
The Presidency yesterday said that over one million Nigerians have so far benefitted from the Survival Fund scheme under the Federal Government’s Economic Sustainability Plan (ESP). The Presidency said there are 500,000 beneficiaries from the MSMEs Payroll support track, 44,500 under the one-off General MSME Grant, and another 265,425 under the artisan support track, among others. Recall that payment to new beneficiaries of the Payroll Support track and the one-time General MSME Grant had commenced at the end of April. A statement by the Senior Special Assistant to the President on Media and Publicity, Office of the Vice President, Mr Laolu Akande, in Abuja last night explained that so far, under the ESP there are currently over one million beneficiaries nationwide from the various schemes...
House summon AGF over ‘blockage’ of $60 billion repatriation
The House of Representatives has again summoned the Attorney General of the Federation and Minister of Justice, Abubakar Malami (SAN) for allegedly halting the repatriation of $60 billion loot from Texas, United States of America. The Chairman of the Ad hoc Committee on Assessment and Status of All Recovered Loots – Movable and Immovable Assets from 2002 to 2020 by Agencies of the federal government for Effective Efficient Management and Utilisation, Rep. Adejoro Adeogun, summoned Malami on Wednesday in Abuja when a former Special Prosecutor to the Special Presidential Investigation Panel (SPIP), Mr Tosin Ojaomo, appeared before it. He also revealed that before the panel which was headed by Okoi Obono-Obla was disbanded, it investigated the Auditor General of the Federation for the withdra...
How love affair gone bad led to imprisonment of Prophet Israel Oladele
When the Lagos State Court of Appeal granted the Senior Shepherd-in-Charge of the Celestial Church of Christ, Genesis Global, Prophet Israel Oladele Ogundipe, a post-conviction bail last week, on grounds of failing health, quite a number of people, particularly members of his congregation, were very happy with the news. This is because the televangelist’s previous bail applications were all turned down. Oladele was arraigned on seven counts bordering on obtaining by stealing, inducing delivery of money by false pretences, unlawful conversion of property and forgery, fraudulently collected N14m and £12,000 in various tranches from the complainant between August 30, 2002 and 2005. He was found guilty on two counts of stealing and unlawful conversion of property not delivered. And on November...
