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Maiden N10.69bn Green Bond to be listed on NSE, FMDQ – DMO

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By Our Correspondent
The Debt Management Office (DMO) has said that Federal Government’s maiden N10.69 billion Green Bond, when concluded, would be listed on the Nigerian Stock Exchange (NSE).
Bonds are debt instruments issued by government or a company which represents a fixed sum of money that is borrowed while Green Bonds are debt instruments tied to environmental projects to address climate change.
The DMO Director-General, Ms Patience Oniha said at the Green Bond Investors Forum in Lagos for market participants and investing public that the issue would also be listed on FMDQ OTC Securities Exchange platform explaining that the listing would be in January at the completion of the first tranche of the bond, which would open for subscription on Dec. 18 by book building and close on Dec. 22.
Speaking further, Oniha said the Federal Ministry of Environment would introduce green bond to support the private sector which may also want to issue the product to support financial inclusion and that DMO was not only to borrow but also support the development of the market.
She added that the bond issuance benefits were huge, ranging from poverty alleviation, jobs creation, economic and environmental benefits.
The DMO boss said green bond could also be issued by corporate organisations , aside
government.
She expressed optimisim that government would raise over N10.67 billion from the issue, noting that road shows were ongoing to sensitise investors.
She explained that the issuance of the Green Bond followed Federal Government’s endorsement of the Paris Agreement on Climate Change on Sept. 21, 2016.
Proceeds from the Green Bond, she said, would be used to finance projects in this
year’s budget that had been certified as green because of their positive effects on the environment.
Projects to be financed with the proceeds included renewable energy, micro utilities and afforestation programmes of government.
Hajiya Halima Bwari, the Deputy Director, Department of Climate Change, said
the bond became necessary to tackle climate change experienced in Nigeria and the world.
Bwari said that climate change could become a big issue if left unchecked because of its effect on the environment and social wellbeing.
She said that the country’s target was to reduce emission by 20 per cent by 2030.
Mr Muhammad Mamman-Daura of Chapel Hill Denham Advisory Ltd., said Nigeria’s N10.69 billion debut sovereign green bonds due for issuance on Dec. 18, would be priced in reference to Federal Government bonds of similar tenor.
Mamman-Daura said that the bond, the first in Nigeria and West Africa, second in emerging markets and fourth in the world, was a five-year tenored instrument being issued to raise funds for specific green projects across the country.
He said listing the bond on NSE and FMDQ would boost its liquidity and investor confidence.
He added that the proceeds would be used to provide green electricity to communities that had been in darkness, energise education and support government afforestation initiative.

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Former IGP Abubakar Denies Online Report Criticizing Tinubu on Security Issues‎

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Former Inspector General of Police, Mohammed Dahiru Abubakar (rtd), has debunked a statement circulating online which allegedly quoted him as criticizing President Bola Ahmed Tinubu over the country’s security challenges.

‎The report, dated August 10, 2025, appeared on a little-known website and social media page under the name “ADC Vanguard.” It credited the retired police chief with remarks suggesting disapproval of the administration’s handling of national security.

‎In a statement issued by his media aide, Mahmud Bello on Monday, the former IGP described the publication as “false, malicious, and a product of mischief makers.” He stated that he had not spoken to the press, granted any interviews, or authorized anyone to speak on his behalf regarding the matter.

‎“I am a retired security executive enjoying my retirement. I am apolitical and do not involve myself in partisan politics,” Abubakar said. “The statement credited to me should be disregarded, dismissed, and discountenanced in its entirety. It is a figment of the writer’s imagination, created to malign my image and reputation built over the years.”

‎He further urged Nigerians to avoid spreading unverified claims that could “unnecessarily heat the polity,” and called on political leaders to place national interest above personal ambition.

‎The former IGP’s reaction comes amid rising concerns over fake news and misinformation in Nigeria’s political space, with growing calls for caution and accountability in public discourse.

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Lebanese expatriate worker sues GOC 2 Div, others, for alleged unlawful detention, demands N2bn as damages

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Ibrahim Nassar, a Lebanese expatriate worker with Phoenix Import and Export Limited in Kwara State, has gone to the Federal High Court, Ilorin Division, seeking an order compelling the Nigerian Army to release him immediately from his four-month detention without trial.

In a suit filed on his behalf by his counsel, the applicant identified himself as a citizen of
Lebanon with a valid passport and a lawful resident in Nigeria with a validly issued
Comprehensive Expatriate Residence Permit, and that he has been living and working
with Phoenix Import and Export Limited, Kaiama in Baruten Local Government Area,
Kwara State for some time now, without any criminal record.

In the Suit No. FHC/IL/CS/87/2025 between Ibrahim Nassar (Applicant) and the General Officer, Commanding 2 Division, Nigerian Army, Ibadan, Major-general Obinna Onubogu; the Chief of Army Staff and; the Nigerian Army (as 1st, 2nd and 3rd Respondents, respectively), the Lebanese complained that he was unlawfully arrested on 9th May, 2025 by the officers of the 2nd respondent at the instruction or command of the 1st respondent.

According to Nassar, he was detained for many days and was released by the Department of State Security (DSS) when he was not found culpable for any criminal activities. He said he was re-arrested on the 16th June, 2025 and has since been in detention up to now without any criminal charge against him.

Describing his arrest and detention without any justification as illegal, unwarranted, wrongful and unconstitutional, the Lebanese further told the court that he is both asthmatic and diabetic, among other serious medical conditions, and need to seek medical attention.

He alleged that while in the detention of the respondents, he was humiliated, tortured and harassed in order to self-incriminate himself, which he stood his ground against.

He further alleged that he was treated inhumanly as he was detained in a very dark and fearful confinement like a common criminal. In addition, he claimed that he was not fed well and when he ought to be fed, he was just given a very small portion of any meal available not minding the fact that he is not a Nigerian who is no exposed to any sort of foods.

The application by Ibrahim Nassar for an order for the enforcement of his fundamental
Human rights under the Constitution of the Federal Republic of Nigeria 1999 (as
amended), the African Charter on Human and Peoples Rights (Ratification and
Enforcement) Act CAP A9 LFN 2004, United Nations declaration of Human Rights, 1948,
and Fundamental Rights (Enforcement Procedure) Rules, 2009, was filed by his counsel,
Prof. M.T. Adekilekun Esq, leading Shareef Mohammed Esq., Prof. A.O. Sambo, Oludare
W. Akanbi, Esq, Maryann Osuyak (Miss) and, A.S Adeyemi, Esq.

In the suit, Ibrahim Nassar is also seeking an order and declaration of the court that his continuous arrest, detention, humiliation, torture, inhuman treatment and harassment by the respondents is unlawful, illegal, ultra vires and grossly violates the provisions of the Constitution of the Federal republic of Nigeria (as amended), the African Charter on Human and peoples’ Rights (Ratification and Enforcement) Act, United Nations Declaration of Human rights, 1948.

He is also seeking an order of the court that he be paid exemplary and aggravated damages in the sum of One Billion Naira (N1, 000, 000, 000) only against the respondents jointly and severally as a result of the infringement of his fundamental rights to personal liberty and dignity of human person, harassments, intimidation, threats and public ridicule occasioned by the Respondents on the applicant.

In addition, Nassar is demanding payment of another One Billion Naira (N1, 000, 000, 000) as General Damages against the respondents jointly and severally for his unlawful detention, as well as an order of perpetual injunction restraining the Respondents by themselves, their officers, servants, agents and privies from: (i) arresting, threatening, intimidating, restraining, harassing and humiliating him or threats thereof.

In an affidavit in support of originating motion for enforcement of fundamental human
right of the applicant, one Vandi Vatiki of Czar Farms Limited, Oke oyi, Ilorin Kwara
State and Phoenix Import and Export Limited, averred that sometime on 9th May, 2025, “the officers of the Nigerian Army (the 3rd respondent) came in a gestapo manner, fully armed with weapons, and bumped into the hotel room of the applicant in Kaiama, Baruten Local Government Area, Kwara State and arrested him without warrant of arrest and any offence alleged against him.

“That when myself and applicant’s co-Lebanese present made enquiries as to the
offence committed by the applicant, no any reason whatsoever was given.

“That I know as a matter of fact that the applicant was first taken to Sobi Barracks
where he was detained unlawfully and after sometime was transferred to 2nd Division
of the Nigerian Army, Odogbo Barracks, Ibadan, Oyo State.

“That the applicant was detained without any offence alleged against him for more than
two weeks and every attempt to get the applicant released proved abortive.

“That one of the steps taken to ensure the release of the applicant was the
engagement of Rashidi Isamotu Esq., to apply for the release of applicant who upon
being engaged wrote a letter titled: “Request for Release of Ibrahim Nassar” dated 20th
May, 2025 to the 1st respondent.

“That instead of the 1st respondent to yield to the simple request since nothing
incriminating was traced to or found with the applicant, he ordered the transfer of the
applicant to the office of Department of DSS Oyo State Command, Ibadan for profiling
and further investigation, having spent two weeks with them at Odogbo Barracks,
Ibadan’

“That the office of DSS in Ibadan, upon proper profiling and investigation of the
applicant, found him not culpable for any offence hence, found no reason why it should
keep the applicant in their custody and consequently transferred the applicant to Kwara
State Command, Ilorin, the state where the applicant was arrested.

“That on getting to Ilorin, the DSS in Ilorin too found nothing incriminating about the applicant and consequently released the applicant without any further delay or hindrance whatsoever.

“That the applicant thought the storm was over and was making attempt to settle down
and attend to his health which has deteriorated due to the unlawful detention,
humiliation and torture meted against him by the 1st respondent and other officers of
the 3rd respondent, he was re-arrested on the 16th June, 2025 by the officers of
the 3rd respondent at the mandate and command of the 1st respondent without warrant
of arrest.

“That the applicant upon being re-arrested on 16th June, 2025 was taken straight to
Odogbo Barracks of the 2 Division of the 3rd respondent like the previous arrest and has
been unlawfully and wrongfully detained since then under the watch of the 1st
respondent who the 2nd respondent failed to check (despite having knowledge of the
unlawful arrest) without any crime alleged against or charge framed against him till
now.

“That attempt was made to secure the release of the applicant again by still engaging
the services of Rasidi Isamotu Esq to write a complaint to the Chief of Army staff, the
2nd respondent in respect of the conduct of the 1st respondent and his officers on the
unlawful detention of the applicant.

That the said Rashidi Isamotu wrote the complaint on the 19th June, 2025 and same
was received and acknowledged by the office of 2nd respondent at Army Headquarters,
FCT, Abuja on the 26th June, 2025.

“That the family and friends of the applicant are in disarray now as nothing is even
heard of the applicant again, making them to be subjected to psychological torture, to
the point that other expatriates working with our company are now living in fear and
trembling as a result of the illegal action of the respondents.

“That sequel to the above, many (if not all) of our expatriates have left the country because they feel that their lives are not safe and secured with the inhuman treated made against the applicant coupled with the unlawful arrest and detention. It could be anybody.

That the applicant has not been charged with any offence before any court of Law in
Nigeria.

“That if this Honourable Court do not intervene as a matter of urgency the life of the
applicant is under imminent threat and may lead to his death.

That unless this application is granted, the applicant will continue to suffer violation of
his fundamental rights of freedom of movement and personal liberty as well as dignity
of human person.

As of the time of this report, the 2nd Division of the Nigerian Army and the Nigerian Army headquarters, Abuja, were still to respond to a message sent over the weekend, seeking their comments on the allegations by the Lebanese.

No date has been fixed for the hearing of the suit.

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Oluwole Foundation Lifts 70 Branch Members Of C&S Church in Ilorin

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Stephen Olufemi Oni, Ilorin

Barely a month after empowering no fewer than 70 members at the headquarters of the Cherubim and Seraphim Movement Church Worldwide in Ilorin, the Kwara State capital, the Oluwole Foundation has extended the noble gesture to 24 branches of the Church within Ilorin metropolis and Oke-Oyi.

In the new dispensation, the Oluwole Foundation provided material and financial support to additional 70 beneficiaries, costing the Foundation about N37m.

Fielding questions from journalists on the sideline of the programme, the Chairman of the Foundation, Pastor Moses Ademola Popoola, said the extension of the empowerment programme this year to the branches of the Church was in obedience to divine instruction and as a means to tackle poverty within the Church community.

“We have 62 branches under our Church, but this is the first time we are going beyond our headquarters. For now, we have covered 24 Churches and empowered 70 people, spending close to N37 million. This is not just charity; it’s also evangelism. Some people will not be converted through preaching but through welfare,” Pastor Popoola explained.

He urged beneficiaries to take the gesture seriously, work hard, and extend help to others, assuring the congregants of further expansion of the empowerment programme to cover more beneficiaries in the coming years.

“They should not see this as a national cake. Be prudent, save, grow your business, and from what you have, help someone else. That way, we help the family, society, and the nation,” he cautioned.

Pastor Popoola also called on other foundations, especially those owned by Christians, to carry out their work with sincerity, rather than for personal gain. “This service is first to God, then to society. When we help people genuinely, we reduce poverty, crime, and unemployment.”

The cleric, however, stressed the need for the government to prioritise agriculture and rural development in order to tackle poverty and unemployment ravaging the nation.

He added: “Every wealthy nation built its economy on agriculture. So, government should secure our farmlands, provide tractors, and support our farmers holistically. Let each region focus on its strength, like cocoa in the West and groundnut in the North. We must also develop rural areas with electricity, motorable roads, hospitals, and jobs to curb rural-urban migration.”

One of the beneficiaries, Mrs Janet Shaba, who expressed gratitude to the Oluwole Foundation for the kind gesture, promised that they would make judicious use of the items received.

End

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