NDLEA DISMANTLES ABUJA DRUG BUNKS, ARRESTS 132, RECOVERS 220KG ILLICIT SUBSTANCES. (PHOTOS). #PRESS RELEASE.

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 NDLEA dismantles Abuja drug bunks, arrests 132, recovers 220kg illicit substances  -Marwa hails operation, vows to sustain crackdown in FCT, other states  In a non-stop two-week offensive action against traffickers and dealers, operatives of the National Drug Law Enforcement Agency (NDLEA) have successfully dismantled several drug joints and bunks within and around the Federal Capital Territory (FCT) Abuja where a total of 132 suspects were arrested and 220 kilograms of assorted illicit substances recovered. The wel-coordinated raids jointly conducted by the Agency's Directorate of Operations and General Investigation (DOGI) and the FCT Strategic Command from llth to 25th April 2026 were launched to dismantle illicit drug hubs contributing to substance abuse, trafficking, and associated criminal activities in the capital city after weeks of intelligence and surveillance across all identified hotspots. Areas where notorious drug joints were raided, dismantled and suspects...
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FG SETS GUIDELINES FOR INVESTING IN ITS $500M BOND OFFER. (PHOTO).

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FG SETS GUIDELINES FOR INVESTING IN ITS $500M BOND OFFER 



The Federal government has given directives to investors seeking to invest in its latest $500m bond financial instrument 


This was made known in a Frequently Asked Questions document provided by the Debt Management Office on its website.


According to the Debt Management Office's Frequently Asked Questions document, Nigerian citizens, including those living abroad, must have a Bank Verification Number and a National Identification Number to subscribe to the domestic dollar bond, which was issued on Monday.


The $500 million bond is part of a broader $2 billion program, aimed at attracting local and foreign investors. Eligible participants include Nigerians resident in Nigeria, those in the diaspora with foreign exchange savings abroad, and foreign institutional investors.


The document stated that subscription to the Domestic FGN US Dollar Bond cannot be made by cash as all payments must be made through electronic transfers into designated accounts.


Also, for those utilizing balances in their domiciliary accounts for subscription, the funds must have been in the account for at least 30 days before the application date.


The bond, with a 9.75 per cent per annum coupon rate over a five-year tenor, is targeted at both domestic and international investors, with a minimum subscription amount of $10,000. It differs from traditional Eurobonds in accessibility, with a lower entry threshold of $10,000 compared to the typical $200,000 required for Eurobonds.


The DMO’s FAQ reveals that income from these bonds is exempt from several forms of taxation, making them an attractive investment option. The bonds will be listed on the Nigerian Exchange Limited and the FMDQ Securities Exchange Limited, offering liquidity to investors who wish to trade before maturity.


The auction for this bond will remain open until August 30, 2024, with the settlement date set for September 6, 2024.


The Finance Minister, Wale Edun, has said that the $500 million domestic dollar bond will enhance external reserves and help stabilize the foreign exchange situation in the country.

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