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FirstBank Redeems $350M Eurobond, Cementing Its Global Investment Clout.
First Bank of Nigeria Limited (FirstBank) successfully redeemed its $350 million Eurobond upon maturity yesterday, marking another milestone in the bank’s strong record of liability management.....KINDLY READ THE FULL STORY HERE▶
The Eurobond, issued as Senior Notes in October 2020 at an 8.625 per cent coupon rate with semi-annual payments, was 70 per cent oversubscribed at the time, reflecting robust investor confidence and FirstBank’s deep market access. The funds from the issuance were deployed to support diverse customer projects, including initiatives of significant national and economic impact.
FirstBank Group Chief Executive Officer, Olusegun Alebiosu, described the redemption as a testament to the bank’s effective liability management, strong foreign currency liquidity, and enduring franchise strength. He noted that the move further solidifies FirstBank’s position as a preferred issuer in the international investment community.
According to Alebiosu, the bank has now successfully redeemed a total of $1.275 billion across four Eurobond maturities since its inaugural 2007 issuance. He emphasized that the redemption was fully financed from FirstBank’s balance sheet, highlighting the bank’s superior assets and liabilities management and reinforcing investor confidence.
Alebiosu also reaffirmed FirstBank’s 131-year legacy as a leading corporate bank in Nigeria and across Sub-Saharan Africa. He assured customers of the bank’s continued commitment to providing transaction banking, treasury, and cash management solutions, leveraging innovative technologies to enhance efficiency and customer experience.
Fitch Ratings recently affirmed FirstBank’s Long-Term Issuer Default Ratings (IDRs) at ‘B’ and upgraded its National Long-Term Ratings to ‘A+(nga)’ from ‘A(nga)’, both with stable outlooks, underscoring the bank’s credit strength and solid balance sheet. In recognition of its leadership, FirstBank was named Best Bank for Corporates in 2024 by Euromoney, Global Finance, and World Economic Magazine.
The All Progressives Congress (APC) in Kebbi State has produced a new crop of state executives after holding its congress at the FIFA Stadium Goru in Birnin Kebbi on Tuesday.....KINDLY READ THE FULL STORY HERE▶
Delegates from all 21 local government areas participated in the exercise, which was monitored by the Independent National Electoral Commission (INEC) and ended without any reported incidents or disturbances.
Alhaji Abubakar Kana-Zuru emerged as the State Chairman, elected alongside 29 other members into the State Executive Committee.
Governor Nasir Idris, who was present at the venue, commended the peaceful conduct of the congresses from ward to state level. He called on party faithful to rally behind the newly elected leaders and sustain unity as the party prepares for future elections.
Representatives from the APC national secretariat and members of the local congress committees praised the process, describing it as transparent and well-organised.
Also in attendance was former Kebbi State Governor and current Minister for Budget and Economic Planning, Atiku Bagudu, who said the hitch-free exercise demonstrated strong collaboration among party stakeholders.
Party members and delegates reportedly gathered at the stadium from early hours to take part in the congress across the state.
A senior aide to the late Iranian Supreme Leader, Ayatollah Ali Khamenei, has stated that Iran has no plans to engage in negotiations with the United States.....KINDLY READ THE FULL STORY HERE▶
Mohammad Mokhber disclosed this on Wednesday during an interview on State TV, emphasizing that Tehran does not trust Washington and sees no grounds for dialogue.
According to Mokhber, Iran is prepared to continue the ongoing conflict in the Middle East for as long as necessary.
“We will not enter into any negotiations with the US. The Americans cannot be trusted. We can sustain the war for as long as we choose,” he said.
He added that previous interactions with the United States have left Iran doubtful about any diplomatic efforts.
His remarks come amid heightened tensions following reports that Khamenei was killed in joint US-Israeli strikes.
Meanwhile, Iran has announced plans for a three-day state funeral in honour of the late leader. The official Islamic Republic News Agency reported that members of the public will be allowed to pay their respects at the Imam Khomeini Grand Mosque in Tehran.
“Starting at 10:00 pm (1830 GMT), the faithful will be able to pay their final respects to the body of the martyred guide of the nation at the Imam Khomeini Grand Mosque,” the agency quoted a statement from the Islamic Development Coordination Council as saying.
Khamenei, who was 86 at the time of his death, is expected to be laid to rest in his hometown of Mashhad in northeastern Iran.
Indomitable Lionesses head coach Mike Ndoumou has acknowledged that his team lost control of the game after Cameroon suffered a 3–1 defeat to Nigeria’s Super Falcons in Tuesday’s international friendly in Yaoundé.....KINDLY READ THE FULL STORY HERE▶
According to reports, Cameroon made a bright start at the Military Stadium, scoring first and hoping to build on their 1–0 victory over Nigeria in last weekend’s earlier encounter. However, the momentum soon shifted.
Christiane opened the scoring to give the Lionesses an early advantage and excite the home fans. Nigeria quickly regrouped, with Chiwendu Ihezuo equalising before Omorinsola Babajide and Michelle Alozie sealed the comeback with well-taken goals.
Reflecting on the match, Ndoumou admitted his side struggled after their promising start.
“We allowed Nigeria to dominate and push us back into our half. The goals came in quick succession,” he said after the game.
Nigeria, under head coach Justine Madugu, displayed improved intensity and sharper movement in the second half, applying sustained pressure that forced defensive lapses from the hosts.
Babajide played a key role in the turnaround, scoring once and providing an assist in an impressive performance that underscored her growing importance to the team.
“Great reaction from the team today,” the AS Roma Women forward wrote on .
The Super Falcons will now shift their attention to preparations for the 2026 Women’s Africa Cup of Nations (WAFCON).
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