Nigeria plans to redeem N762.5 billion ($2.5 billion) worth of treasury bills from the proceeds of a planned $2.5 billion Eurobond, to lower borrowing costs for the government, Finance Minister Kemi Adeosun said on Wednesday.
Government expects to save N64 billion each year after it refinances the local bills with the dollar debt, she told reporters after the Federal Executive Council meeting prresided over by President Muhammadu Buhari in the capital Abuja.
In January, the Director General of the Debt Management Office, Ms. Patience Oniha of the debt office said, the government would consider raising $2.5 billion through Eurobonds in the first quarter to refinance a portion of its domestic treasury bills portfolio at lower cost.
The Federal Government said that the purpose of the bond issue was to help to refinance $3 billion worth of a local treasury bill portfolio of N2.7 trillion. It sold $3 billion in Eurobonds in November, part of which it used to fund its 2017 budget, and then paid off N198 billion in treasury bills in December. The debt pay-off led to a drop in rates by around 300 basis points which translates into savings for the government, Adeosun said.

On Wednesday, bond yields rose 50 basis points to a level last seen five months ago as global risk-off sentiment spread to local assets. The rise hit the actively traded five year bond and benchmark 20-year debt the most.
The minister said the cabinet reappointed the banks that handled the previous eurobond sale – Citigroup, Stanbic IBTC Bank and Standard Chartered Bank – for the new bond sale.

http://www.akelicious.com/2018/02/nigeria-to-redeem-n7625bn-t-bill-with.html

If its for the good of the people/nation then goodluck,not be sauandered


Check my siggy for importation

ezex:
If its for the good of the people/nation then goodluck

Thanks, but not a certain 'goodluck' tho!

A

R

Nigeria shall be great again.
My optimism has never been this high. Insha Allah PMB shall lead this nation to greatness.

Let those who hate the truth keep hating.

Those who spread falsehood should keep spreading.

Those who stand for the truth should keep defending it for light shall never surrender to darkness.

Everyone of us will reap from what we sow.

I am a very proud Nigerian. I do not aspire to be a citizen of any other country. I will live and die a Nigerian.

So I pledge to Nigeria my country, to be faithful, loyal and honest.

To serve Nigeria with all my strength.

To defend her unity.

And uphold her glory.

So help me God.

#IstandwithBuhari -Insightful Observer

Thank God for the good news on my birthday. If your agreed with me that naija can and will be better soon, show me your love

make we dey look

modelmike7:


Thanks, but not a certain 'goodluck' tho!

True sha,we know what might come out of it if not properly used

We always hope for the better, the future is our hope.

NIGERIA NEWSPAPERS: TODAY'S THE PUNCH NEWSPAPER HEADLINES [8TH FEBRUARY , 2018].
Naija Newspapers


Below are the headlines found on The Punch Online Newspaper for today, Thursday, 8th February, 2018.

Killings by herdsmen: Reps want IG sacked, Senate rejects Benue panel report
Thu, 08 Feb 2018
The House of Representatives on Wednesday asked President Muhammadu Buhari to sack the Inspector-General of Police, Mr. Ibrahim Idris, over his “lack of capacity” to address security challenges in the country, particularly the killings by herdsmen in Benue State and the insecurity in Kano State.

“We call on Mr. President to replace the IGP with a more professional officer,” the resolution of the House read.

The resolution was passed after lawmakers debated two motions: one on the killings by herdsmen in Benue State, and the second on the “need to curb thuggery development in political activities in Kano and Nigeria in general.”

The motion on the killings by herdsmen was moved by a member from Benue State, Mr. Mark Terseer-Gbillah, while the second motion was moved by a Kano State lawmaker, Mr. Abubakar Danburam-Nuhu.

The two motions were later amended to a motion for the sacking of the IG.

Ruling on the motion to sack the IGP, the Speaker, Mr. Yakubu Dogara, said, “If we pass this amendment, it means that the entire House has passed a vote of no confidence in the IGP.

“I will go ahead and put the question since that is the decision of the House.”


http://www.naijanewspapers.com.ng/2018/02/nigeria-newspapers-todays-punch_7.html

Using debt to pay debt... This Buhari's administration is a real ponzi scheme.

eezeribe:
Using debt to pay debt... This Buhari's administration is a real ponzi scheme.

Is not ponzi scheme,it is called MMM.
I even doubt if Buhari can spell "DOLLARS"

eezeribe:
Using debt to pay debt... This Buhari's administration is a real ponzi scheme.

Terrible Ponzi scheme.
Borrowing more money at high interest rates while bragging about increasing reserves of low interest rates?
What kind of crazies do that
This is what we get for electing a perpetual failure and illiterate into office.
Buhari is a monumental error of gargantuan proportions that must be corrected in 2019.

Ok

Ok

Check my signature to order your football jerseys and get FREE CUSTOMIZATION, YES you heard me right FREE CUSTOMIZATION... Val Promo is on

OK, I hope the man will still go back to his village come 2019.

When PDP connects

Nigeria , Reedem 700 B


their blood temperature boils

Borrowing to pay debts here and there and some people are shouting about it being good news. Rubbish!!!

eezeribe:
Using debt to pay debt... This Buhari's administration is a real ponzi scheme.

well this time the debt will be secured at a much lower rate.

seunlayi:
Thank God for the good news on my birthday. If your agreed with me that naija can and will be better soon, show me your love

HBD LLNP

What are the implications of all that pls