Gospel singer Mercy Chinwo has broken her silence on the fraud allegation against Ezekiel Onyedikachukwu, her former manager.

Onyedikachukwu, who is the founder of the record label EeZee Conceptz, is accused of exploiting the singer.

He allegedly diverted approximately $345,000 from her digital platforms and events without disclosing the transactions and remitting her share.

The record label boss had earlier denied allegations of financial misconduct.

In a lengthy statement signed by her lawyer Pelumi Olajengbesi on Saturday, Chinwo accused her former record label boss of contract fraud.

The 34-year-old singer alleged that he replaced the original contract signed when she joined the record label in 2017 with a new one in 2019 without her knowledge.

Chinwo claimed Eezeetee refused to give her a copy of the contract in 2017 till the contract duration expired in 2022.

The singer alleged that the new contract allocated lifetime ownership of all music works to Eezeetee and was designed to “keep me in servitude”.

Chinwo also accused Eezeetee of doctoring financial reports and failing to remit her share of digital streaming earnings.

She alleged that Eezeetee retained USD 274,000 in digital platform revenues without her knowledge or consent.

The singer also accused Eezeetee of doctoring reports received from Symphonic, Africori, and YouTube by not declaring the correct revenue split to be paid to her.

Chinwo revealed that she and Eezeetee had reached a reconciliation agreement at the EFCC office after which he apologised and promised to make amends.

She said Eezeetee allegedly reneged on the agreement and took her to court instead.

She called on Eezeetee to explain the disappearance of the original 2017 contract and the introduction of the new 2019 contract.

The singer also urged Eezeetee to inform the public about the true state of the two contracts.

Read the statement below:

MERCY CHINWO AND MR. EZEKIEL THANKGOD (EEZETEE): SETTING THE RECORD STRAIGHT

We are Solicitors to Minister Mercy Chinwo, hereinafter referred to as Minister Mercy.

It is with deep concern that we address the recent controversies surrounding Minister Mercy’s relationship with Mr. Ezekiel ThankGod (Eezeetee), her former manager. While we would have preferred to maintain silence on this matter, the severity of the falsehoods being circulated compels us to clarify the facts and set the record straight.

GENERAL NOTE

Contrary to the sensational narratives, Minister Mercy did not initiate any court action case against Mr. Ezekiel ThankGod (Eezeetee) regarding her music catalogue. At no point has she claimed that a 50/50 revenue split from her DSP earnings is unfair. The issues with Mr. Eezeetee are, in fact, grave matters that have posed significant threats to her life and cannot be easily exhausted, but she has preferred to remain silent.

WHAT WERE THE REAL ISSUES?

BACKGROUND

Minister Mercy’s journey with Eezeetee began humbly during her days as Eezeetee’s backup singer in Port Harcourt. Over time, their work relationship flourished, with Eezeetee assuming a loco parentis role, advising and mentoring her. Their relationship was not born out of contract, but beyond, She honours him like a father.

He commenced managing her early in 2017, introduced her to his Pastor, Pastor Temple Odoko and later specifically advised that they sign a management contract on her birthday to remarkably announce their work. He brought the contract, and it was happily executed on September 5, 2017, in Port Harcourt. (Note date and place).

WORK RELATION

The work relation was super cordial. Minister Mercy “Excess Love” project was recorded in 2017, and it was a major success. Other projects followed. Eezeetee put in the work and passion, he talked big on his vision for gospel music in Nigeria, and she strongly bought into it.

RELOCATION TO LAGOS

The grace of God was evident, and need to relocate to Lagos became crucial in 2018. He established the structure, and they worked with unity and a common vision. Everyone was committed to the organization vision, and she was instrumental in ensuring that more gospel ministers, starting with Judikay, joined the organization in early 2019.

THE TURNING POINT

Towards the middle and end of 2019, commencing the 3rd year of working with Eezeetee, things began to change gradually. They had discussions, as usual, about the organization and her plans. He expressed his intention for her to extend her five-year contract to twelve years. However, she declined, stating that she is got other plans.

Afterwards, she noticed that at any given opportunity to address any issue, Eezeetee would be hostile and make reference to the contract. He started talking tough and repeatedly about the contract, which was not the norm. It was at this point that she realized she needed to have a copy of the contract. As the situation got worse in 2020 she demanded for her copy of the contract. (By the way, her copy of the contract was only given at the end of the contract time on the 23rd of November, 2022)

By the fourth year, the relationship had become extremely toxic, as Minister Mercy started to endure untold verbal and emotional assault that literally affected her person. Eezeetee would threaten her with statements like: “I will deal with you, I will mess you up, I made you whom you are, I can shut you up, and nobody will hear you again, I will destroy your career” including the use of the “F” word, sadly on different occasions. Extremely hostile, antagonistic and abusive.

Eezeetee continue to intimidate her, isolating and bulling her, misleading people inviting her for events about her availability.

When she gets invitations to minister at programs, the management would respond to the invitees that she was not available or that she was sick. In some cases, the management would demand an outrageous fee for her to attend programs in order to frustrate the invitation.

One of such heartbreaking incidents involved a church program that had been concluded for her to attend in October 2021, hosted by a father of faith in Edo State, Rev. Felix Omobode. Eezeetee suddenly told the host that Minister Mercy could not attend because she had a terminal health problem. She got wind of it and fought back. It became chaos while she threatened it was over and done with the organization.

She was threatened with the contract but she insisted she will go and minister against the management’s wish. There were interventions, after much pressure, he claimed the organizers did not make flight arrangements. She said she will attend by any means. He eventually booked the flight. To her surprise, her host came along with a medical team to the airport to receive her believing she was unwell and may need support. Meanwhile, Minister Mercy also discovered that her ticket and that of Eezeetee had been long booked by the host.

RECONCILIATION

Though broken, she made efforts at reconciliation. She prayed and had discussions with her spiritual mentor. She decided to make a deliberate effort to restore the good working relationship. She was led to sow a seed to him. She bought a brand-new SUV for him as a seed. She made efforts, and they tried to achieve a genuine reconciliation. They reconciled, but he was more particular about posting the car on social media to appreciate her. She declined, and things got worse.

The situation worsened as there was no longer trust. She lived in tears. She had to narrate her experience to Minister Chioma Jesus, whose intervention led to the management returning her call lines to her in December 2021 to manage her program scheduling herself. Without removing her cost of logistics for travels and remuneration for her team members which she must pay, she remitted an absolute total of 50% of any gift or honorarium with date and evidence to Eezeetee. If she delayed, he would certainly send a mail.

CASE OF FORGERY

After her contract had expired on the 5th of September, 2022, Minister Mercy was directed to get her copy of the contract from his Pastor, Temple Odoko who has now become their mutual father, and she got her copy November 22, 2022. Shockingly, It turned out that the contract that was signed in 2017 had been replaced with another contract made in 2019. A new contract made in 2019 was altered to seem as if it was the document signed in 2017.

Clearly, on the face of the contract, at the front page, the “2019” was altered to “2017” by turning the “9” to “7” with a pen. However, the commencement page was carelessly reading “2019.” Eezeetee is challenged in one word to release the first three pages and the execution page of the contract in public. The contract till date has no original, just the photocopy.

Due diligence revealed that after signing the original contract in 2017, two years later, when they had relocated to lagos. Eezeetee secured the services of a prominent and respected law firm in Lagos (Udo Udoma & Bello-Osagie) to prepare a new contract in 2019. The contract was used to substitute the 2017 original contract.

The contract was prepared and sent to him via email in 2019 by Udo Udoma & Bello-Osagie. He altered the front page of the contract to read 2017 and claimed it was the contract signed. Meanwhile, the commencement date was carelessly left as 2019 on the document. He refused to release the original contract signed in 2017 but the new one 2019.

At an investigation meeting, Our Managing Partner, Pelumi Olajengbesi respectfully asked Mr. Mena Ajakpovi, Esq., Partner at Udo Udoma & Bello-Osagie, to speak to the integrity of the contract. The partner confirmed that while they drafted the contract in 2019, it was never signed in their presence as Eezeetee claimed. He added that their firm only sent it to him via email and was not aware of the 2017 alterations on the contract. This exposed the fact that it was not the same contract signed 2017 in Porhartcourt.

It is important to reiterate that while the 2017 contract was just about 5 pages, the 2019 contract, which was introduced by Eezeetee to replace the old contract was 25 pages, allocating lifetime ownership of all music works to Eezeetee and couched in a manner intended to perpetually have Minister Mercy in servitude.

OTHER ISSUES

Eezeetee, in the continued onerous act, doctored reports received from Symphonic, Africori, and YouTube by not declaring the correct revenue split to be paid out to Minister Mercy. He brought documents in the mid years of the contract that she needs to sign to help recover her revenue from publishing as song writer. Yet, he falsely listed himself as the writer of all her songs, to receive revenues as both writer and producer. He refused to remit her a penny from the publishing revenue for the past seven years, from inception till date and Minister Mercy didn’t make it an issue. He did not remit his ‘choiced’ 50% of the Digital Streams earnings from 2022 to 2024 — a complete two years.

Eezeetee claimed he has paid her over $600,000; that couldn’t have been the reason for the issues. Minister Mercy recorded and released almost 40 songs with him. Whatever he has remitted to her is from the 50% ratio, and she has never complained about the percentage.

AFTER THE CONTRACT

Minister Mercy made significant efforts to record an additional album before the expiration of her contract. She had clear instructions on the songs, wrote them down and sent a list to Eezeetee, requesting a recording schedule. However, his responses were dismissive, with one reply stating, “Na you dey teach me work now,” and another time, indicating he was too busy at the time.

After the original contract, which spanned from 2017 to 2022, had expired, Eezeetee insisted that the contract be extended. He justified this by citing the fact that a third album had not been recorded, referencing a questionable contract clause from 2019.

APOSTLE ANSELEM’S MADUBUKO INTERVENTION

Apostle Anselem attempted to help resolve the matter on several occasions. We were advised to forgive and forget, and we happily did. Eezeetee was told to remit Minister Mercy’s due, and everyone agreed on an independent audit. A neutral auditor was appointed. The audit was about to start when Eezeetee pulled out and refused to comply further on the excuse that his lawyer was not at the meeting where the audit was agreed upon. The auditor had to resign for lack of cooperation. Having seen the volume of revenue coming, he had to manipulate a new contract.

FORGERY AND DIVERSION INVESTIGATION

At the EFCC investigation panel in 2024, with all parties present and their lawyers, it was established that the sum of USD 274,000 had been unlawfully retained and diverted by Eezeetee from digital platform revenues reviewed as at then. Eezeetee claimed Minister Mercy had asked him to help keep part of the revenue to avoid mismanagement and that he was holding the remaining to ensure reconciliation before releasing the payment. He stated there was no intention to steal. He was understood. The money was recovered peacefully.

Eezeetee now admitted at the EFCC office for very first time that there were two contracts, the original signed in 2017 and another he introduced two years after the actual contract had been signed. He, however, appealed that the matter be settled amicably in peace. He started crying and preached peace. Minister Mercy broke down emotionally also in tears. There was forgiveness and reconciliation.

The Legal Practitioner representing Mr. Eezeetee, Dapo Akinosun SAN, Senior Partner at Simmons Cooper Partners admonished that parties should settle as Christian family. Eezeetee apologized in tears to Minister Mercy, and reconciliation was encouraged. Parties settled, and the learned silk encouraged that a settlement agreement be prepared and signed afterward.

A draft agreement was prepared and sent to us by the Learned Silk representing Eezeetee, outlining terms aimed at amicably resolving the matter. After reviewing the draft, we provided our input to address certain terms and awaited the signing of the final settlement agreement. However, upon following up with the Learned Silk, the last response remained that we should wait.

COURT CASE

Just as we were waiting for Eezeetee to finalize the settlement peacefully by signing, we were told that Eezeetee had engaged a new lawyer and had now taken the matter to court. Eezeetee was the one who filed a court case against Mercy Chinwo and Judikay separately, in suit referenced – LMDC/09-24/289/WI-M. The same Eezeetee pushed the false report of Minister Mercy taking him to court for a catalogue to mislead the public and draw sentiments or pity to him.

He filed another suit in court against the EFCC for investigating the allegations. We latter heard that he has been charged for fraud by EFCC, a warrant of arrest issued for him to be compelled to appear before the court.

FINAL SETTLEMENT

Minister Mercy firmly believes that the Lord has settled her and wiped away her tears, reaffirming her position that these issues are not beyond resolution. However, Eezeetee should tell the world as he has been doing, what happened to the 2017 contract she signed in Port Harcourt? What is the reason behind the introduction of a new Lagos-based contract in 2019? Why was the document forged? and why has he refused to inform the public about the true state of the two contracts.

Minister Mercy deeply appreciates your prayers, love, and continued support during this time.

SIGNED:
Pelumi Olajengbesi Esq.
Solicitors and Attorneys-at-Law to Minister Mercy Chinwo

Chinwo is not the only former artiste to have a contractual dispute with Onyedikachukwu.

Recently, Judikay accused the label boss of theft. She claimed he defrauded her of £800,000 by falsifying financial records and altering streaming data.

dismissed allegations of misappropriation

Impeached Speaker of the Lagos State House of Assembly, Mudashiru Obasa has described the corruption allegations against him as “fictitious and unsubstantiated”.

Speaking during a welcome rally at his residence in GRA, Ikeja on Saturday, Obasa maintained that he was not afraid of being impeached but emphasised that due process was not followed.

The former speaker alleged that his removal was orchestrated while he was away, and accused the state commissioner of police of aiding the process.

He claimed security agents, led by the police commissioner, invaded the assembly complex and his homes in Agege and Ikeja, locking his family indoors with over 200 officers present.

Obasa dismissed allegations of misappropriation.

He mocked claims that a gate construction had cost N16 billion, saying, “Is it the wall of Jericho?”

He said “I am not afraid of being removed, after all, it is not my father’s chieftaincy title. I am representing my people and they have returned me six times. If you want to do anything, do it well.

“They did the removal all because I was out of the country. Lagos is a special place, we cannot denigrate the state.

The former speaker cited the case of the former speaker, Rt. Hon Jokotola Pelumi.

He said when Pelumi was removed, he was in the assembly and “we did not invite policemen.

“When my sister, former deputy speaker of the house, hon. Adefunmilayo Tejuosho was removed, we did not invite the police.”

Obasa said an innocent person should not be discredited, and there must be proof of allegations showing exactly what he has done.

“The Lagos State House of Assembly is above common standard of excellence.

“I appreciate the members of the governance advisory council and Governor Babajide Olusola Aanwo-Olu of the state. He is my brother and he always calls me his younger brother.”

Obasa was impeached on January 13 by more than two-thirds of the 40-member legislative house over alleged misconduct and sundry offences.

His Deputy, Mojisola Meranda, was immediately elected the new speaker, becoming the first female to take charge of the legislative body in the South-West state.

The Federal Government has announced the addition of hairstyling, plumbing, GSM repair, makeup and 12 other new trades/new subjects to the basic education curriculum.

The development comes following ongoing reforms in various sectors of the economy.

A statement issued by the National Orientation Agency (NOA), said the new trades were added to the Basic Education curriculum to boost students’ practical skills and employability.

The new subjects include plumbing; tiling and floor works; POP installation; event decoration and management; bakery and confectioneries; hairstyling; makeup; interior design; GSM repairs and satellite/TV antenna installation.

Others are CCTV and intercom installation and maintenance; solar installation and maintenance; garment making; agriculture and processing (including crop production, beekeeping, horticulture and livestock farming like poultry and rabbit rearing), and basic digital literacy (including IT and robotics).

The statement noted that the new subjects will take effect from January 2025 for primary and junior secondary students across the country.

Bandits have demanded a ransom of ₦540 million for the victims abducted during an attack on a General Hospital in Kankara Local Government Area of Katsina State.

Naija News recalls that the attack, which occurred on Tuesday, left a medical doctor, Dr. Murtala Sale Dandashire, and another individual with gunshot injuries.

Dr. Dandashire sustained a gunshot wound during the raid, while several staff members were kidnapped.

Among the abductees is the Assistant Director of Nursing Services and head of the nursing department at the hospital, Yusuf Muhammad Mairuwa.

According to Daily Post, sources disclosed that the bandits are demanding ₦270 million for the release of Mairuwa and an additional ₦270 million for the other hospital staff and workers from a nearby fertilizer factory who were also kidnapped during the incident.

Governor Dikko Umaru Radda of Katsina State has condemned the attack, expressing his administration’s commitment to ensuring the safety and security of health workers.

In a statement issued by his Chief Press Secretary, Ibrahim Kaula Mohammed, Governor Radda acknowledged the progress made in reducing similar attacks but emphasized that the mission remains incomplete.

“We are restrategising our security approach to ensure that our medical professionals can perform their vital duties without fear.

“The safety of our healthcare workers and residents remains our paramount concern,” the governor assured.

The Deputy Speaker of the House of Representatives, Benjamin Kalu, has disclosed that the Federal Government saved as much as $10 billion in 2023 due to the removal of fuel subsidy.

The lawmaker made the disclosure during a meeting with some investors and a group of scholars at Oxford University in London on the sidelines of his ongoing United Kingdom-Nigeria Parliamentary Strategic Dialogue working visit to the United Kingdom.

He explained that removing fuel subsidy has positively affected the economy, adding that the policy led to a 22 percent increase in dollar remittances from the Diaspora, totalling $28 billion in 2024.

A statement issued by his Chief Press Secretary, Levinus Nwabughiogu, on Friday, said the Deputy Speaker spoke on politics, security, economy, and development with the team led by Peter Claus, a Prof. of History and Access Fellow at Pembroke College, University of Oxford.

The Deputy Speaker noted that the removal of the subsidy had enabled the Federal Government to redirect funds to critical sectors such as healthcare, education, and infrastructure.

He has also disclosed that synergy between the Nigerian armed forces and regional counterparts has resulted in the capture of over 1,500 insurgents in the Lake Chad Basin.

In the development sector, the Deputy Speaker said the government has launched various initiatives to promote technological advancement and innovation.

The statement quoted Kalu as saying, “The removal of the fuel subsidy saved the government $10 billion in 2023, redirecting funds to healthcare, education, and infrastructure, while dollar remittances from the Diaspora have increased by as much as 22 per cent, totaling $28 bn.”

Former Presidents Olusegun Obasanjo and Muhammadu Buhari have testified before the International Chamber of Commerce Court of Arbitration in Paris, France, denying claims that the Federal Government awarded a $6 billion contract for the Mambilla Power Project in Taraba State to Sunrise Power and Transmission Company Limited.

The arbitration case was initiated by Sunrise Power and its founder, Leno Adesanya, who are demanding $2.3 billion in compensation over an alleged breach of contract by the Federal Government.

In their testimonies, Naija News understands that Obasanjo and Buhari argued that the alleged 2003 agreement between the Federal Government and Sunrise Power is invalid.

They maintained that Sunrise obtained a letter of award, signed by a former Minister of Power, Dr. Olu Agunloye, just 24 hours after the Federal Executive Council (FEC) rejected the company’s proposal.

The former presidents urged the arbitration court to disregard the document, asserting it was not a legitimate government contract.

Agunloye, who served as Minister of Power during Obasanjo’s administration, is currently facing trial in Abuja on charges of forgery, disobedience of a presidential directive, and corruption concerning the Mambilla project.

The Economic and Financial Crimes Commission (EFCC) accused Agunloye of awarding a contract for the construction of the 3,960MW Mambilla Hydroelectric Power Station to Sunrise Power without budgetary provision, approval, or cash backing.

Agunloye has dismissed the allegations, claiming the government is using him as a scapegoat to discredit Sunrise’s case before the arbitration panel.

Corroborated Testimonies

The former presidents’ testimonies were supported by current Justice Minister and Attorney-General of the Federation, Lateef Fagbemi (SAN), former Justice Minister Mallam Abubakar Malami (SAN), former Power Minister Babatunde Raji Fashola (SAN), and former Water Resources Minister Engr. Suleiman Adamu.

Reports also indicated that former Justice Minister Mike Aondoakaa (SAN) was briefly present in Paris, although it was unclear whether he appeared for the Federal Government or Sunrise Power.

As of Thursday evening, Sunrise Power and its founder, Leno Adesanya, had yet to produce any witnesses at the arbitration hearing.

A source at the proceedings who spoke with TheNation said Obasanjo and Buhari were at their best to “defend the interest of Nigeria.”

The source added, “It is very important for nation’s case that the Minister of Justice and Attorney-General of the Federation, Lateef Fagbemi, was successful in bringing two former presidents – Chief Olusegun Obasanjo and Muhammadu Buhari to testify at the hearing

“By this action, the government of Nigeria sent a signal of its strong commitment to defending the nation’s interest.

“Both leaders-Obasanjo and Buhari-are known for speaking forthrightly and unequivocally, and this they were said to have exhibited in Paris.

“To the delight of the international team of lawyers representing Nigeria, the two past presidents did extremely well, exposing the Sunrise/Leno’s claim for what it is: an attempt at using fraud, deceit and lies to scoop settlement from Nigeria in the first instance, for the alleged violation of a 2003 contract for which there is no valid approval.”

The source branded Nigeria’s witnesses as “Team Nigeria” and united.

According to the source, “It was by and large a great showing, consolidated by the equally outstanding testimonies of former ministers Engineer Sulaiman Adamu, formerly of Water Resources, and Babatunde Raji Fashola, Power.

“The Arbitration Court in France had a week-long hearing 18th-23rd January in Paris on the ongoing dispute between Sunrise Company/Leno Adesanya and the government of Nigeria on the existence or the absence of a contract for the construction of the Mambilla Power Project.

“Although it is up to the chairman and other members of the tribunal to decide on who is right and who is wrong, it can be said at this point that Nigeria had a very good outing on the basis of certain facts that have emerged from Paris.”

The source said Sunrise and Leno Adesanya had not been able to produce any major witness.

The source added: “It is evident from the proceedings that the case of the complainants was rooted in a purported 2003 agreement.

“The 2003 contract was established not to have been validly in existence. This is worsened by the fact that the complainants failed to produce their major witnesses.

“The much-touted appearance of a one-time Minister of Power, Dr. Olu Agunloye, did not also materialise. He was the one who allegedly signed a letter communicating the approval of the contract 24 hours after its rejection by the Federal Executive Council (FEC) which meeting was presided over by Obasanjo.

“A third ‘key witness” a Senegalese lady, did not also appear at the hearing.

“So who spoke for Sunrise/Leno Adesanya?

“He did everything for and by himself.

“Another major setback suffered by the complainants was their over-reliance on an earlier witness statement deposed to by Abubakar Malami, Minister of Justice and Attorney General under President Buhari.”

Malami, on whose testimony the complainants made heavy weather, ended up lining up behind his former boss, President Buhari, to support and prepare him well for his (Buhari’s) testimony.

The source said, “This strategy had the dual benefits of ensuring Buhari’s successful testimony and at the same time pulling the rug from under Leno Adesanya’s feet.”

Veteran actress, Oluwabukola Ajoke, aka Bukky Wright has opened up about her time away from Nigeria and how she changed careers during her stay in the United States of America.

Speaking in an interview with Saturday Beats, she said, “I will be practising it (tech) simultaneously with entertainment. The fact that I had to deviate totally from entertainment to tech was something many people thought I would not be able to do. I would tell all my mentees that if I can do it, they can do it too.”

On what she missed the most about Nigeria while away, Wright said, “What I would love to eat again would be proper Naija amala. What I would like to do again would be to act with Nollywood actors.”

As for her highly anticipated return to Nollywood, the actress promised fans plenty of exciting projects ahead. She added, “I have a lot for fans, including my project— ‘The Return of Omotara Johnson’, which is coming and a whole lot of other things. I am back to stay.”

Sharing the secret to her timeless beauty, she quipped, “I don’t joke with my beauty sleep.”

FG to raise N450bn from Jan bond auction

Nigeria’s inaugural domestic dollar-denominated bond has contributed a substantial N1.47 trillion to the nation’s total domestic debt, latest domestic debt report from the Debt Management Office (DMO) has shown.

The bond accounts for 2.12% of Nigeria’s total domestic debt stock, which stood at N69.22 trillion as of September 30, 2024. Its issuance represents a milestone in the Federal Government’s strategy to diversify funding sources and attract foreign investment. Unlike naira-denominated instruments, this dollar bond offers investors a unique opportunity to participate in Nigeria’s economy while mitigating the currency risks associated with naira volatility.

This comes as the federal government, through the Debt Management Office (DMO), has announced plans to raise N450 billion in its January 2025 bond auction. This represents a notable increase from the N360 billion offered in January 2024 and the N120 billion issued in December 2024.

The initiative is a strategic move to address the fiscal deficit, fulfill financial obligations, and provide attractive investment opportunities for both institutional and individual investors. The January auction features a blend of reopened and new bond issuances, thoughtfully designed to appeal to a diverse range of investors.

The auction includes three bond categories, one of which is a five-year bond with a 19.30% coupon rate, initially issued in April 2029. Through the reopening of this bond, the government seeks to raise N100 billion, further reinforcing its commitment to effective debt management and economic stability.

Meanwhile, the domestic debt recorded mixed performance, declining by 5.34% in dollar terms from $48.45 billion in June to $45.87 billion in September. In naira terms, however, domestic debt increased by 3.10%, from N71.22 trillion to N73.43 trillion.

Federal Government bonds remained the largest component of domestic debt, increasing by 4.47% to N54.65 trillion in September, up from N52.32 trillion in June. This represents 78.95% of the total domestic debt stock, an increase from 78.13% in the previous quarter.

The second-largest domestic debt component, Treasury Bills, declined marginally by 0.66% to N11.73 trillion, from N11.81 trillion in the previous quarter. This reduction aligns with efforts to moderate short-term debt and mitigate rollover risks.

Promissory notes, used to settle government obligations, grew by 5.80%, increasing from N1.67 trillion in June to N1.77 trillion in September.

Federal Government Sukuk, an infrastructure funding instrument, declined by 9.14% to N992.56 billion, down from N1.09 trillion.

Savings bonds increased by 16.11% to N64.09 billion, reflecting growing retail investor participation. Green bonds remained unchanged at N15 billion, maintaining their minimal contribution of 0.02% to the domestic debt stock.

A Nigerian police officer, Inspector Lawal Ibrahim, has reportedly died following a sexual encounter with a woman he met on social media.

The incident occurred on Wednesday at Palasa Guest Inn in Gwagwalada, Abuja, where Ibrahim, who was attached to the Kwali Division, had checked in with Maryam Abba, a woman he had invited from Dutse, Jigawa State.

According to Abba, the pair engaged in sexual activity overnight and resumed in the morning. She recounted, “After the second round, I noticed his breathing became irregular and stopped abruptly. I sprinkled water on him to revive him, but it was to no avail.”

Abba alerted the hotel manager, Danlami Palasa, who in turn contacted the police. Officers arrived at the scene and transported Ibrahim to the University of Abuja Teaching Hospital, where he was pronounced dead. His body has since been deposited at the hospital’s morgue.

A police officer at the Gwagwalada Division, speaking on condition of anonymity, confirmed the incident and disclosed that Abba has been taken into custody for questioning.

Efforts to obtain a statement from the Federal Capital Territory Police Command spokesperson, SP Josephine Adeh, were unsuccessful, as she did not respond to calls or messages.

Investigations are ongoing to determine the exact circumstances surrounding the officer’s death.