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FirstBank Redeems $350M Eurobond, Cementing Its Global Investment Clout.

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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.

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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.

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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.


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“I Was Offered Dollars To Alter My Content – Governor Amuneke Reveals Shocking Bribe Attempt”.

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Nigerian skit maker Kevin Chinedu, popularly known as Kevinblak or Governor Amuneke, has alleged that he was offered money in dollars by members of a political party to alter the message of his satirical skits, which often criticise politicians and governance.....KINDLY READ THE FULL STORY HERE▶

reports that he made the claim during an interview on ARISE Television, where he spoke about the challenges content creators face while using humour to hold public officials accountable.

Kevinblak said the incident happened at a difficult period in his life, shortly after his wife underwent a Caesarean section, adding that he was invited to Abuja and promised financial relief in exchange for changing his content.

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According to him, despite the pressure and financial difficulties, he rejected the offer and chose to remain committed to his principles.

“I was approached with cash by members of a political party to alter my content. They said they were going to change my life, that I’m earning crumbs, you know, give me dollars,” he said.

He explained that he was told to come to Abuja where he would be “changed” financially, but insisted he could not compromise his values for money.

“I looked at it and said no, I am who I am. I’ve never been involved in anything illegal or influenced by money to do something against my principles,” he added.

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Kevinblak also declined to name the political party involved, referring to it only as “Amuneke’s party,” a reference to a fictional character in his skits, and warned against attempts to publicly identify it.

He further noted that people close to him have also faced similar approaches but have refused, stressing that his circle is made up of individuals who uphold strong personal values.

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“Kachikwu Not Our Member, He Was Expelled – Ex-ADC Chairman Nwosu Declares”.

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The founder and pioneer National Chairman of the African Democratic Congress (ADC), Ralph Nwosu, has spoken on the ongoing internal crisis in the party, blaming it on internal conflicts and disruptive individuals.....KINDLY READ THE FULL STORY HERE▶

reports that Nwosu made the comments during an interview with Punch, where he explained the background to several decisions taken within the party over time.

Speaking on internal reforms, he said the ADC was forced to review and amend its constitution following what he described as disruptive behaviour by certain members.

He explained that stricter rules were introduced to prevent individuals from joining the party and quickly securing tickets without proper screening of their intentions.

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According to him, the decision was influenced by past experiences involving internal challenges that affected party stability.

Nwosu also confirmed that Dumebi Kachikwu was expelled during a party convention, adding that the party later moved on to support the Labour Party presidential candidate during the general election.

He accused Kachikwu of playing a destabilising role within the party, describing his actions as destructive and harmful to its unity.

The ADC founder insisted that Kachikwu is no longer a member of the party, saying his claim to still represent the party was no longer valid following his expulsion.

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He also criticised Kachikwu for continuing to publicly present himself as a presidential candidate of the ADC, stating that such a position had already expired.

Nwosu further alleged that ongoing tensions within the party are being influenced by a mix of internal actors and external interests, which he said has distorted the true nature of the dispute.

He added that individuals linked to the crisis have become entangled in broader political narratives, insisting that the situation is being exaggerated in the public space.

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“Bala Mohammed’s Alleged Defection Sends Shockwaves Through Political Circles”.

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Supporters and loyalists of Bauchi State Governor, Bala Mohammed, are facing growing uncertainty over his possible defection from the Peoples Democratic Party (PDP), following ongoing consultations and mixed political signals.....KINDLY READ THE FULL STORY HERE▶

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