The Debt Management Office (DMO), on Monday listed two Federal Government of Nigeria (FGN) savings bonds at N1,000 per unit.

According to a statement from the debt office, the first offer is a two-year FGN savings bond due on May 15, 2026, at an interest rate of 17.407 per cent per annum.

The second offer is a three-year FGN savings bond due on May 15, 2027, at the rate of 18.407 per cent per annum.

The opening date for the subscription is May 6, and the closing date is May 10, the settlement date is May 15, and the coupon payment dates are Aug. 15, Nov. 15, Feb. 15 and May 15.

“They are offered at N1,000 per unit subject to a minimum subscription of N5,000 and in multiples of N1,000 thereafter, subject to a maximum subscription of N50 million.

“Interest is payable quarterly, while bullet repayment (principal sum) is on the maturity date,” the DMO said.

It said that FGN savings bonds, like all other FGN securities, were backed by the full faith and credit of the Federal Government and charged upon the general assets of Nigeria.

“They qualify as securities in which trustees can invest under the Trustee Investment Act.

“They qualify as government securities within the meaning of Company Income Tax Act and Personal Income Tax Act for tax exemption for pension funds among other investors.

“They are listed on the Nigerian Exchange Limited and FMDQ.

“They qualify as liquid asset for liquidity ratio calculation for banks,” it said.

The Nigerian Meteorological Agency (NiMet), has said that Gombe State would experience 143 days of rain this season.

The Agency stated this during the presentation of its 2024 Seasonal Climate Prediction (SCP).

This is contained in a statement by Ms Lydia Simon-Bawa, the Desk Officer, Climate Change, Gombe State Ministry of Water, Environment and Forest Resources, on Monday in Gombe.

She said the onset date of rainy season for the state would begin on May 25 in Shongom Local Government Area, and would later occur on June 12 in Nafada.

“The rain is predicted to stay shortly for 112 days in Nafada and stay much longer for 143 days in Yamaltu/Deba LGA.

“The cessation of rainfall is predicted to occur on Oct. 14 in Nafada and would occur much later on Nov. 4 in Yamaltu/Deba LGA.

“The annual rainfall amount is predicted to be below normal and is expected to be between the range of 606mm to 789mm rainfall.

“The prediction shows that Nafada is likely to observe minimum amount of 606mm while Shongom is likely record maximum of 789mm.”

According to Simin-Bawa, a severe dry spell is predicted in the month of July for up to 15 or more days across Nafada, Yamaltu/Deba, Dukku and Funakaye LGAs.

She said that day and night time temperature for May was predicted to be warmer than normal, adding the prediction showed that there would be strong windstorms across the country and sandstorms in the extreme northern states of which Gombe is among.

She advised relevant agencies and residents of the state to de-silt drains to avoid breeding mosquitoes and flooding that might destroy lives and property.

While urging residents to desist from dumping of waste in water ways, Simon-Bawa said advised farmers to leverage the prediction and carry out their activities in a manner that would ensure they were not impacted negatively.

Chairman of the Federal Inland Revenue Service, FIRS, Zacch Adedeji, has challenged tax administrators in Africa to look inwards for local solutions to challenges rather than turning to the Western world for salvation.

Adedeji, according to a statement by his Special Adviser on Media, Dare Adekanmbi, spoke at a three-day council meeting of African Tax Administration Forum, ATAF, hosted by FIRS and held in Lagos.

Headquartered in Pretoria, South Africa, ATAF is an international organisation established in 2009 to provide a common platform for African tax administrators to build capacity, achieve revenue objectives and advance the role of taxation in African governance and state building.

The FIRS chairman, who is the President of the Commonwealth Association of Tax Administrators, CATA, said practicable solutions to address the challenges confronting the continent, particularly in the area of local resource mobilisation, could “only come from wearers who know where the shoe pinches”.

Adedeji urged member countries to take ATAF matters seriously and abide by the rules set.

He stressed that the success of continental body depends on collective efforts to showcase the best Africa has to offer.

“The problem of Africa can only be sincerely solved by Africans. I charge you all to redouble efforts to make sure we prioritise the activities of ATAF.

“In Nigeria, we are giving you our commitment that we will prioritise anything that has to do with ATAF, recognising that solutions to our challenges reside with us in Africa. Nobody can tell our stories better than ourselves. We cannot continue to rely on solutions from platforms that are not indigenous to us.

“We must ensure the sustainability of the organisation and uphold the tenets of ATAF founding agreement and rules and be committed to abiding by them in our decision-making processes.

“The management of the secretariat is also vital to the success of the organisation, and we must prioritise the process of a smooth transition in this meeting, as the term of the current Executive Secretary comes to an end in March 2025 when Mr Logan Wort will have served for 16 years of meritorious efforts. Nigeria joins the rest of ATAF members to applaud and honour Mr Wort,” the FIRS chairman said.