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DMO announces N720 billion borrowing plans

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DMO says Nigeria’s public debt stock hits N42trn

Debt Management Office (DMO) has reviewed its bonds issuance calendar for the third quarter of 2022.

According to the revised calendar, the DMO is scheduled to raise about N720 billion through some re-opened Federal Government of Nigeria (FGN) bonds.

On 19 July, the office was scheduled to re-open a March 2025 FGN bond valued at between N70 billion to N80 billion, and an interest rate of 13.53 per cent per annum.

It has a two years, eight months maturity period, with an original tenor of seven years.

On the same date (19 July), the DMO re-opened an April 2032 FGN bond valued at between N70 billion to N80 billion at a 12.50 per cent interest rate per annum.

Term-to-Maturity is nine years, nine months, with an original tenor of 10 years.

Also, on 19 July, the DMO re-opened a January 2042 FGN bond valued at between N70 billion to N80 billion, at an interest rate of 13 per cent per annum, with a maturity period of 19 years, six months. It had an original tenor of 20 years.

On 15 August, the DMO, again, re-opened the March 2025 FGN bond, valued at between N70 billion to N80 billion, at an interest rate of 13.53 per cent per annum.

It had a maturity period of two years and seven months.

On 15 August, it also re-opened the 2032 FGN bond valued at between N70 billion to N80 billion at an interest rate of 12.50 per cent per annum.

Its Term-to-Maturity was now nine years, eight months.

On the same date, the DMO, again, re-opened the January 2032 FGN bond valued at between N70 billion to N80 billion, at an interest rate of 13 per cent per annum.

The maturity period was 19 years and five months.

On 19 September, the DMO will, again, re-open the March 2025 FGN bond valued at between N70 billion to N80 billion, at the rate of 13.53 per cent per annum.

The maturity period will now be two years and four months.

On the same date (19 September), the office will also re-open the April 2032 FGN bond valued at between N70 billion to N80 billion, at a 12.50 per cent interest rate per annum.

Its Term-to-Maturity will be nine years and seven months.

On 19 September, the DMO will re-open a March 2037 FGN bond valued at between N70 billion to N80 billion, at an interest rate of 16.24 per cent per annum.

It has a Term-to-Maturity of 14 years and seven months, and an original tenor of 20 years.

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Commission, journalists partner to revamp water sector in Kaduna

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The Kaduna State Water Services Regulatory Commission (KADWREC) says it is partnering media practitioners towards revamping water services in the state.

Mr Dogara Bashir, the Executive Chairman of KADWREC, disclosed this on Monday at a one-day workshop organised for media practitioners on regulation of ‘Water, Sanitation and Hygiene’ (WASH) activities held in Kaduna.

Bashir said the commission was aware of the importance of the role media practitioners played in the society.

He stated that the workshop was to provide an avenue to liaise with them as important stakeholders on water supply and sanitation services in the state.

Bashir said: “As media practitioners, we believe you are a gateway to the citizens so, the workshop would acquaint you with some of the regulations already in place so that you can in turn transmit it to the public

“The state of water services in Kaduna State is in dire need of attention and the State Water Corporation and KADWREC were established towards addressing the seeming challenges.

“The commission is mandated to ensure better service delivery and regulation of water and sanitation services in the State.

“The idea is that once the regulations are developed, we send them to the State Ministry of Justice to gazette and then we get the state government to endorse and give the go ahead to commence the implementation of the regulations

“We intend to implement them fully come January, 2025 God willing, as we have embarked on advocacy activities having gone to zones 1 and 2 where we talked to traditional rulers, security agencies and the Judiciary.”

He disclosed that a special Court has already been attached to the commission by the Chief Judge of the State for service providers who may likely violate regulations.

The chairman further said that amongst the commission’s objectives include ensuring security, reliability and quality of service in the production and delivery of water to the consumers as well making regulations to control the sinking of boreholes.

Others included; maximising access to water services by promoting and facilitating consumer connections to distribution systems in urban and rural areas.

According to Bashir, they also include ensuring that regulatory decision-making has regards to all the relevant health, safety, environmental and social legislation applying to the water sector.

Bashir further said that the commission collaborate with the relevant state and federal agencies on water policies.

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Crime

2 ladies docked for allegedly obtaining money by fraud

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The police in Lagos have dragged two women, Mmesuma Ofunna, and Blessing Adimekwe, before an Ojo Magistrates’ Court in Lagos, over alleged obtaining money by false pretence.

Ofunna, 22, and Adimekwe, 25, were arraigned before the Magistrate, Mr L K J Layeni, on a four-count charge bordering on conspiracy, obtaining by false pretence, stealing and conduct likely to breach peace.

They each, however, pleaded not guilty to the charge.

The prosecutor, ASP Simon Uche, told the court that the defendants conspired with others now at large, to commit the offence on Oct. 26 at the Okokomaiko area of Ojo.

He alleged that they had obtained the sum of N70, 000 from one Faith Ahamefule, with a promise not to post her nude photo on social media.

The prosecutor alleged that the defendants later posted the nude photo of the nominal complainant on social media, knowing that their promise was false.

He alleged that they stole the N70, 0000, thereby conducting themselves in a manner likely to breach public peace.

The offence contravenes the provisions of sections 168(d), 287, 314, and 411 of the Criminal Law of Lagos State 2015.

The court granted the defendants bails in the sum of N500, 000 each, with two sureties each in like sum.

He adjourned the case until Jan. 8, 2025 for mention.

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Driver jailed 6 months for attempting to steal a car

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A Jos Magistrates’ Court on Monday, sentenced a 37-year-old driver, Ahmad Umar to six months in imprisonment for attempting to steal a car.

The Magistrate, Shawomi Bokkos, summarily tried and sentenced the convict after he pleaded guilty to the charge.

Bokkos in his judgment, ordered the convict to pay an option of N30, 000 fine or spend six months in prison.

Earlier, the Prosecutor, Insp Ibrahim Gokwat, told the court that the case was reported on Oct. 10, at the Area Command Police station through a distress call by one Sydney Peacemorie the complainant.

Gokwat said the complainant parked his Toyota RAV4 in front of Access Bank and went inside to carry out some transactions, only to return to find the convict inside his car.

“The convict unlawfully opened the car and was in the driver’s seat when the complainant raised alarm and he was apprehended, but his accomplice escaped.

“The convict was severely beaten by a mob but was rescued by the police,” said Gokwat.

“The prosecutor said that the offence contravened the Plateau Penal Code Law.

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