Quality
Seplat issues $650 million oil and gas bond
Seplat Petroleum Development Company, a Nigerian independent oil and gas firm, has issued $650 million in aggregate principal amount of senior notes due in 2026. It is said to be the largest ever Nigerian oil and gas bond issuance. A senior note is a type of bond that must be repaid before most other debts in the event that the issuer declares bankruptcy. It is more secure than other bonds. The dual listed company said the five-year bond was well-received in the market with orders from high quality institutional investors. “The notes priced at a yield of 7.75%, representing a significant pricing reduction from its $350 million debut issuance in 2018, which priced at a yield of 9.50% , with a coupon of 9.25%,” a statement by the company read. “The offering was well oversubscribed with deman...
NANS flays ‘commercialisation’ of tertiary institutions
The National Association of Nigerian Students (NANS), has decried an alleged clandestine move to commercialise public tertiary institutions stressing that it might deprive many the access to quality education. The NANS National President, Com Sunday Asefon, said this on Thursday at the Lagos State University (LASU), while speaking on the decadence of the Nigerian educational system. Asefon in a statement entitled : ‘Need to Perceive Education As a Social Service’ , and made available to newsmen in Ado Ekiti, on Friday, said any developing nation that views education from the prism of commercialisation would fail in giving the youth the right attitude to life. The students leader described education as a veritable weapon to rid the society of ignorance, criminality, and building of future l...
Commodities trading: SEC issues new rules on warehousing, collateral management
File Photo In a bid to ensure a vibrant commodities trading ecosystem, which would in turn boost foreign exchange earnings for the country, the Securities and Exchange Commission (SEC) has released new rules covering warehousing and collateral management, among others. According to the rules, every warehouse that stores commodities to be traded on a registered exchange shall apply to be registered by the SEC, while the commission shall maintain a register of all registered warehouses to be published on its website. The new rules also provide that any warehouse applying for registration shall submit proof of ownership or registered-lease deed or rent agreement, alongside a disclaimer from the owner of the warehouse/property providing waiver of ownership regarding commodities stored in such ...
Former Roma boss, online fan clash over Mo Salah sale
Four years after Mohammed Salah was sold to Liverpool for £35m a die-hard Roma fan has hauled pebbles at the decision describing it as undue emphasis on money over quality. Former Roma president James Pallotta locked horn with a fan who from all indication was ready to throw blows should the need arise. Salah has starred for Liverpool ever since leaving Roma in 2017 for £35m. The unamed fan took Pallotta online , suggesting it was all about money, claiming Roma only cared about Financial Fair Play regulations. He posted to social media: “Replacing Salah with [Patrik] Schick is confirmation of the inability of a company that constantly sells the best players. “You’re not good enough at turning omelettes, trust me.” Pallotta replied: “You still show ignorance by ignoring fact that Salah want...
Niger governor decries level of corruption in Nigeria
The Niger State Governor, Alhaji Abubakar Sani Bello, has decried the level of corruption in the country’s political and economic environment, insisting that corruption is endemic in all the facets of the nation’s life. Speaking at a two-day ‘Get involved leadership’ training in Minna Wednesday, Governor Bello said: “The problem with Nigeria today is enormous, every sector is corrupted. There is no country that can develop with the level of corruption we have. According to the governor, “When you have a system where only limited or few people are transparent, the system can never work.” He submitted that as a result of the high level of corruption in the polity, political positions either elective or those appointed have always gone to the highest bidder, a development he described as unac...
Minister: Nigerian government to establish micro enterprises in 774 local council areas
Dr George Akume, the Minister of Special Duties and Inter Governmental Affairs, on Wednesday said that micro enterprises will be established in the 774 Local Government Areas (LGAs) of the country. The Minister disclosed this in Abuja at the Association of Local Governments of Nigeria (ALGON) General Assembly with the Theme: Strategic Positioning for the Future: A New Era. “As a ministry, we have proposed the establishment of Micro, Small and Medium enterprises in the 774 local governments in Nigeria based on economic corridors. “We believe that this will create jobs and ensure improvement in the well-being of the local populace,’’Akume said. The minister, who was represented by Mr Simon Tyungu, Deputy Director, Office of the Minister, said that the establishment of the micro enterprise wa...
Super Eagles invitee wants to prove there are quality NPFL players
Abia warriors defender Adekunle Adeleke has revealed his aim in the Nigeria national team squad is to prove there are quality players in the Nigeria Professional Football League. The defender is one of the three home-based players invited for the Super Eagles’ 2022 Africa Cup of Nations qualifiers this month. The three-time African champions will take on the Republic of Benin on March 27 before slugging it out against Lesotho three days later in Lagos. Adeleke has set himself a target of representing the home-based players well in the national team in order to open doors of opportunities for them. “Definitely we are going to give a good account of ourselves and try to do our best to show that there are good and quality players in the league,” Adeleke told Brila FM. The defender is optimist...
Nigerian Army appoints new NDA commandant
Major-General Sagir Yaro has been appointed as the commandant of the Nigeria Defence Academy (NDA). The NDA is a military university based in Kaduna. Bashir Jagira, the academy’s spokesperson, in a statement on Wednesday said Yaro is taking over from Jamil Sarham, also a major-general who is now to proceed on a senior research course at the National Institute for Policy and Strategic Studies (NIPSS) Kuru, Plateau state. Jaguar described Yaro as a seasoned military officer of the Nigerian Army Corps of Engineers, and member of the 36th regular course of the NDA, who has held several appointments cutting across command, staff and instructional. Until his appointment, Yaro was the general managing director, Nigerian Army Welfare Limited by Guarantee (NAWLG). While addressing principal staff o...
AfDB approves $1.3 million grants for women’s access to digital finance
The African Development Bank (AfDB) has approved two grants of $1.3 million for research aimed to increase African women’s access to a range of digital financial services, including loans and micro-insurance. According to a statement from the AfDB on Monday, the grants for $1 million and $300,000 respectively, will be disbursed through the Africa Digital Financial Inclusion Facility (ADFI). ADFI is a pan-African initiative designed to accelerate digital financial inclusion throughout Africa. It is a blended finance facility of AfDB with two financial technology firms; Pula Advisors Kenya Ltd. and M-KOPA Kenya Ltd. Pula Advisors will use the $1 million for research of social, cultural and economic factors that impact women farmers’ access to micro-insurance in Kenya, Nigeria and Zambia. Mor...
Osun governor condemns ethnic colouration in fight against terrorism
Governor Gboyega Oyetola of Osun State has condemned the ethnic coloration in which the fight against terrorism and insurgency is taking in Nigeria. Oyetola, however, called on Nigerians to form a collective synergy with the aim of bringing an end to the worrisome security situation bedevilling the nation. Oyetola, who was represented by the Secretary to the State Government, Prince Oluwole Oyebamiji, on Saturday at an international colloquium organised in honour of Prof. Siyan Oyeweso’s 60th birthday and Book Launch held at Western Sun International Ede, Osun State, flayed the ethnic coloration the issue of security is taking in the country. The governor called on security operatives to go after criminals devoid of any kind of sentiment. According to him, the menace of terrorism and insur...
Robert Lewandowski discusses potential move to MLS
Bayern Munich star Robert Lewandowski has said he knows a lot about MLS but wouldn’t be drawn on a possible move to North America in the future. Lewandowski’s wife has said in the past that her husband is interested in ending his career in Los Angeles, which is no doubt intriguing to both LA Galaxy and Los Angeles FC. Although the 32-year-old isn’t closing any doors, he has indicated that he is not thinking much about his long-term future right now. In an interview with CBS Sports, the Bayern star said: “Playing in the USA? I don’t know because I don’t know what it means for me and when. For sure I know a lot about MLS because a few Polish players and also German players played there and they talk to me about the life there, but also about MLS. “They say that every year there is a step up ...
Chelsea boss takes blame for Hakim Ziyech struggles at Stamford Bridge
Chelsea boss Thomas Tuchel has shouldered the blame for Hakim Ziyech’s stalled progress at Stamford Bridge, challenging the midfielder to fight for his place in the team. Morocco international Ziyech, who signed in July, has only featured twice so far under Tuchel, leading to suggestions the former Ajax star could seek a summer exit. But Tuchel is adamant he will need to call on Ziyech as the hectic season unfolds. “It is my fault actually, not his,” Tuchel said on Friday. “It is my hard decisions at the moment as well for Mason Mount, Callum Hudson-Odoi and for Christian Pulisic sometimes in the half positions where we seem the strongest. “It is the same for Hakim at the moment and for some other players — there were hard decisions to make. It is never easy but it is a good thing, we have...
