financial News

President Muhammadu Bu­hari has directed the Minis­try of Finance to release N45 billion for the payoff of severance entitlements of hundreds of for­mer staff of the liquidated Nige­ria Airways. The Minister of State for Avi­ation, Hadi Sirika, disclosed this to newsmen after the Federal Ex­ecutive Council (FEC) meeting chaired by Vice-President Yemi Osinbajo at the State House, Abuja. The Minister said “past gov­ernments decided to liquidate the Nigeria Airways without tending to the issues of the entitlement of the workers and they have been struggling to get paid. “This government, when it came on board, decided to take it seriously.…
Operatives of the Economic and Financial Crimes Commission have visited two mansions in Dubai allegedly belonging to a former Minister of Petroleum Resources, Diezani Alison-Madueke. The properties, located at E146 Emirates Hill and J5 Emirates Hill, are said to be worth 74,000,000 dirham (N7.1bn). Emirates Hill, which has been described as the Beverly Hills of the United Arab Emirates, is home to some of the richest men in the world including billionaire Chairman of the Stallion Group, Sunil Vaswani. Others, who are Diezani’s neighbours, include the immediate past Prime Minister of Pakistan, Nawaz Sharif; a former President of Pakistan, Asif…
Osun state Governor, Mr Rauf Aregbesola at the weekend cautioned those calling for autonym for local government administration in the ongoing constitution review in the country to desist. Speaking at a conference organised by Urban Media Resource Limited to x-ray the gains of the South-West under the administration of President Muhammadu Buhari, Aregbesola insisted that local government remains an appendage of a state government. The Governor maintained his position that autonomy should not be given to Local governments because they are absolutely under the control and ambience of the states, explaining that the only organ of the state empowered by…

Things you need to know about Bonds

Bonds are simply a term for loans that you give to the federal or state government, companies etc. It is basically an “IOU” issued by a party to another. The bondholders (or investors) are the lenders, and the issuer is the borrower. The borrower promises to make periodic interest payments (coupon) as well as repay the original loan (principal) to the bond holder on a stipulated date referred to as the maturity date. The amount of income a bond generates each year is fixed and will not change for any reason, that is why bonds are called ‘Fixed Income’ securities.…
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