Federal Republic of Nigeria Minister of Information Dora Akunyili has forcefully expressed the government's displeasure with the targeting of this oil-rich West African state as a "country of interest" related to "terrorism."
Originally uploaded by Pan-African News Wire File Photos
By Elizabeth Archibong
December 2, 2010 07:00AM
The Federal Government yesterday approved the appointment of Deutsche Bank AG and Citigroup Global Market Limited as joint book runners for Nigeria’s $500million 10-year bond issuance in the international capital market.
The Federal Executive Council (FEC) had, on September 1, 2010, ratified President Goodluck Jonathan’s anticipatory approval of the $500million and had appointed White and Case,London and Banwo/Ighodalo, Nigeria, as legal advisers while Barclays Capital, London and FBN Capital, Nigeria as financial advisers.
While briefing journalists after the weekly FEC meeting, the minister of information and communications, Dora Akunyili,said National council gave the approval following an extensive consultation . “After deliberation,the Council approved that Deutsche Bank AG and CitiGroup Global Markets be appointed as joint book runners to the $500 million 10-year sovereign bond issuance, in the sum of $650,000.00 to the government,” she said.
She further disclosed that the council “also approved that the Debt Management Office should execute the relevant engagement letters on behalf of the Federal Government with Deutsche Bank AG and CitiGroup Global Market”.Mrs. Akunyili also said Council gave approval for the implementation of integrated payroll and personnel information system phase 11 at a cost of N2.1 billion.
Bill on sovereign investment
She explained that the sum of N233.7 million has also been approved “as the annual recurrent charge for the payment of software licenses and support services of the application system in the office of the Accountant General of the Federation’s”.
Mrs. Akunyili said FEC approved the forwarding of the draft bill of Nigeria Sovereign Investment Authority (NSIA) be sent to the Attorney General and Minister of Justice for onward transmission to the National Assembly.
The National Economic Council (NEC) had, on November 25, 2010 approved the NSIA bill and directed that the bill be forwarded to the NASS through FEC.
Speaking on further approval by the council, the minister said the council approved N519, 962,557.00 million for the supply and installation of aerial surveillance equipment on board Nigeria Immigration Service’s (NIS) air border patrol aircraft-Dornier 228 5N-AUZ for effective surveillance of the nation’s borders.
“The new state of the art modern surveillance system will provide real time video down streaming of pictures through satellite and will allow for telephone communication between the aircraft and command post on the ground, or from anywhere and any telephone line with direct data transmission to NIS headquarter,” Mrs. Akunyili explained.
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