Debut Sovereign Green Bond oversubscribed, says DMO

The Debt Management Office (DMO) has announced that the debut Sovereign Green Bond offered to the general public in December, 2017 was very well received by a wide range of investors.

According to DMO in a statement, at the close of the Offer, the total subscription received was N10.791 billion compared to the N10.69 billion offered.

Among the investors which subscribed to the Green Bond were banks, pension funds, asset managers and retail investors. The DMO had offered N10.69 billion Sovereign Green Bond for a Tenor of 5 years and Coupon of 13.48%.

The DMO said it was pleased with the strong interest shown by investors, and added that it shows investors interest in new products and support for the objective behind the issuance of Bond which is to invest in projects that will contribute to preserving the environment. “It also shows support for the Paris Agreement on the Climate, which Nigeria has endorsed”.

It will be recalled that the Green Bond which was rated ‘excellent’ by Moody’s, was issued as part of the Federal Government’s New Domestic Borrowing in the 2017 Appropriation Act to finance three (3) Projects. The Projects are Energising Education Programme, Renewable Energy Micro Utilities and Afforestation Programme.

The DMO expressed its commitment to providing products that meet the needs of investors for their portfolio preferences and to continue to promote financial inclusion.

Police declare BUA Cement MD wanted over Obaseki’s convoy attack

The Nigeria Police Force on Thursday declared the Managing Director of BUA’s Obu Cement Company, Engineer Yusuf Binji, wanted over an attack on the convoy of the Edo State Governor, Mr Godwin Obaseki.

Also attacked were some officials of the Edo State Government who were on the convoy of the Edo State Governor.

According to the police, the decision to declare Binji wanted became necessary as it had earlier received intelligence that BUA International Limited is sponsoring militias in Okpella, Edo State, where the company has a cement factory and mine sites.

These militias, the NPF said, were allegedly sponsored by Binji and his team to attack the convoy of the governor, cause harm and mayhem.