MORE THAN 100,000 CHILDREN HAVE BEEN DISPLACED BY THE LATEST ESCALATION IN EASTERN DEMOCRATIC REPUBLIC OF CONGO, UNICEF SAID ON SUNDAY, WARNING THE NUMBERS ARE EXPECTED TO RISE AS VIOLENCE SPREADS.(PHOTO).

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 More than 100,000 children have been displaced by the latest escalation in eastern Democratic Republic of Congo, UNICEF said on Sunday, warning the numbers are expected to rise as violence spreads. Since Dec. 1, intense fighting has uprooted more than 500,000 people, with children accounting for over 100,000 of those displaced in South Kivu alone, the UN agency said in a statement released Sunday. It said since Dec. 2, hundreds have been killed in the fighting, and children have been among the victims, with four students killed, six injured, and at least seven schools attacked or damaged. The rapid escalation has forced hundreds of thousands of children and families to flee within Congo and into neighboring Burundi and Rwanda, it added. Many people fleeing the violence have crossed into Burundi, with over 50,000 new arrivals reported between Dec. 6 and 11, nearly half of them children, UNICEF said, adding that the numbers are expected to rise as more displaced are identified. “Chi...
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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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