General News
FG lists $4bn Eurobonds on FMDQ Exchange platform
FMDQ Securities Exchange Ltd. has announced the listing of the Federal Government of Nigeria’s $4 billion dollars Eurobonds under its global medium-term note programme on its platform.
This is contained in a statement by FMDQ Exchange made available to the News Agency of Nigeria (NAN) on Monday in Lagos.
The breakdown of the listings are as follows, 6.12 per cent $1.25 billion dollars, Sep. 2028, 7.37 per cent $1.50 billion dollars, Sep. 2033 and 8.25 per cent $1.25 billion dollars Sep. 2051 Eurobonds under its Global Medium-Term Note Programme.
It said that the listing of the foreign currency-denominated debt securities was another commendable feat for the Federal Government of Nigeria through the Debt Management Office (DMO).
The statement said the transaction demonstrated government’s unrelenting commitment to supporting the development of the nation’s debt capital markets (DCM) toward sustainable economic development.
“These issuances represent the FGN’s seventh Eurobond issuances, following the issuances in 2011, 2013, 2017 and 2019.
“The admission of these Eurobonds, co-sponsored by Chapel Hill Denham Advisory Ltd. and FSDH Merchant Bank Ltd., is reflective of the potential of the Nigerian DCM and the commendable level of confidence demonstrated by both issuer and investors,” it said.
Speaking on the successful issuance of the Eurobonds, the Director-General, DMO, Ms Patience Oniha, was quoted by the statement as saying that “this issuance was one of the largest financial trades in Africa in 2021 and also aligns the objectives of the Nigeria’s Debt Management Strategy (2020-2023).
“Investors’ keen interest in the issuance as shown by the Order Book of over 12 billion dollars demonstrated confidence in Nigeria’s economy, with bids being received from international investors across Europe, America and Asia as well as robust participation from domestic investors.
“The Eurobonds enabled access to international capital markets inflow of foreign exchange and increased our external reserves.
” DMO achieved this successful outing through the team of international arrangers, Nigerian bookrunner, the financial adviser and the legal advisers.
“The proceeds of the Eurobonds were applied to part-finance the deficit in the 2021 Appropriation Act. The Eurobonds have been listed on the London Stock Exchange and FMDQ Exchange,” Oniha said.
Also speaking, the co-sponsor of the Eurobonds and a Registration Member (Listings) of the Exchange, Chapel Hill Denham Advisory Ltd., through its Chief Executive Officer, Mr Bolaji Balogun, said: “Chapel Hill Denham is honoured to have acted as Nigerian bookrunner and Joint Lead Manager on the FGN’s four billion dollars Triple-Tranche Issuance.
“The FGN and DMO appointed a Nigerian Bookrunner for the first time on a Sovereign Issuance and the firm delivered the largest ever domestic demand on a Eurobond Issuance, enabling the FGN price tightly, notwithstanding tricky market conditions”.
Also, the co-sponsor of the Eurobonds and a Registration Member (Listings) of the Exchange, FSDH Merchant Bank Ltd., through its Managing Director, Mrs Bukola Smith, said: “FSDH Merchant Bank Limited is pleased to have acted as Financial Adviser to the FGN on the issuance.
“The Eurobonds were oversubscribed by 300 per cent and saw significant demand from a diverse cohort of large ticket investors and was indicative of confidence in Nigeria and our economy; despite the challenges caused by the COVID-19 pandemic.
“The listing of the Eurobonds on FMDQ Exchange will provide visibility and enhance the liquidity of the Eurobonds.
“We would like to thank the FGN, the DMO and the investor community for their support in ensuring the successful capital raise,” Smith said.
(NAN)
General News
Clergy Urged To Put Members’ Welfare Above All Else
At a solemn ordination service in Abuja, senior church leaders have called on pastors to make the well-being of their congregations a top priority, following the example of Jesus Christ.
Speaking during the priesthood ordination and installation of a Sub Dean at the Cathedral Church of Advent, Life Camp, Abuja, the retired Bishop of the Anglican Diocese of Okene, Rt. Rev. Emmanuel Ajulo, described pastors as shepherds charged with the care of their flock. He urged them to shun worldly distractions and focus on meeting the spiritual and material needs of their members.
Bishop Ajulo also encouraged the newly ordained priests to remain faithful to their calling by teaching God’s word without compromise.
In his charge, the Primate of the Church of Nigeria, Anglican Communion, Most Rev. Henry Ndukuba, urged the new clergy to preach the undiluted gospel and foster religious harmony wherever they serve. He expressed confidence that their new roles would help promote peace and unity in society.
The service also featured prayers for national leaders and divine intervention in addressing the current global economic challenges.
General News
1,000 Prayer Warriors Storm Ilorin for Tinubu, Nation’s Deliverance
In a dramatic show of faith and patriotism, over 1,000 fiery prayer warriors from across Nigeria will descend on Ilorin, Kwara State, this Saturday, lifting their voices in intense intercession for President Bola Tinubu’s success and Nigeria’s survival in the face of biting economic woes and mounting insecurity.
The spiritual siege, themed “Walking in Domini”, is the maiden convention of the Organisation of African Instituted Churches (OAIC), with its Kwara State Chairman, Evangelist Thomas Adeboye, vowing that “heaven will hear and respond to Nigeria’s cry.”
Aside from marathon prayers, the gathering will roll out free medical outreach to locals across Kwara’s LGAs, a gesture aimed at touching both body and soul.
Adeboye, lamenting Nigeria’s “troubling economic and security realities”, called for a nationwide prayer uprising, insisting that Tinubu has shown the will to revive the nation but needs massive divine backing to succeed.
“Banditry, a collapsing economy, and political tension demand we seek God’s face like never before,” he declared. “We will storm heaven for wisdom for the President and governors to steer Nigeria to safety.”
The convention will also feature awards to distinguished personalities, soul-lifting worship, fiery sermons, and unity-driven lectures—all capped with thunderous prayers for Nigeria’s redemption.
Adeboye urged the President to ensure every policy has “a human face,” stressing that Nigerians must not only endure but also enjoy the fruits of governance.
With the OAIC promising to reaffirm believers’ authority in Christ and rally spiritual boldness in the face of national challenges, Ilorin is set to become the epicentre of a powerful spiritual warfare for Nigeria’s destiny.
General News
Nigerian Anglicans Condemn Lesbian Archbishop of Wales, Deepening Global Anglican Rift
…Church leaders accuse Welsh counterparts of “spiritual decadence” and “abandonment of faith”
The Church of Nigeria (Anglican Communion) has issued a forceful condemnation of the election of Rt. Rev. Cherry Vann, an openly lesbian cleric, as the Archbishop of Wales. The move is the latest in a series of developments that have deepened divisions within the global Anglican Communion over sexuality and doctrine.
In a statement from Primate The Most Rev’d Henry Ndukuba, the church denounced the election as a “serious departure from biblical teaching” and a sign of “spiritual decadence” and “an outright abandonment of the faith once delivered to the saints.”
Archbishop Ndukuba warned that Bishop Vann’s elevation compromises the Anglican Church’s global mission and could obstruct evangelism. He compared the situation to the controversial tenure of Most Rev. Katherine Jefferts Schori, former Presiding Bishop of the U.S. Episcopal Church, who also faced intense criticism from conservative Anglicans for her progressive views.
The Primate accused Bishop Vann of being complicit in the “ongoing crisis” around same-sex issues, stating that the election is a “clear revelation that many who claim to be members of the body of Christ cannot endure sound doctrine” (2 Timothy 4:3–4).
The Church of Nigeria called on Anglicans worldwide to reject “rebels” and “apostates” and to instead support conservative bodies like the Global Anglican Future Conference (GAFCON).
“The Church of Nigeria (Anglican Communion) condemns, unequivocally rejects, and will not recognize the election of Rt. Rev. Cherry Vann as Archbishop of Wales,” Ndukuba declared. He concluded with a solemn warning that without repentance, the Church in Wales risks losing “complete relevance” and its leaders will face judgment.
