Business
Federal Government Offers New Tax-Free Savings Bonds with Up to 18.23% Annual Returns
The Nigerian government, through the Debt Management Office (DMO), has introduced two new savings bond offers designed to attract individual and institutional investors while providing tax-free returns.
The first offer is a two-year bond with an annual interest rate of 17.23 percent, set to mature in January 2027.
The second is a three-year bond offering a slightly higher interest rate of 18.23 percent per year, with maturity in January 2028.
According to DMO’s notice, these bonds have unique advantages. Both are tax-free under Nigerian tax laws, meaning investors won’t pay personal or corporate taxes on the returns.
They are also open to large-scale investors, including pension funds and trustees, making them suitable for individuals and institutions alike.
The bonds are affordable, with each unit priced at N1,000. The minimum purchase is N5,000, while the maximum investment is capped at N50 million.
These savings bonds are backed by the Federal Government of Nigeria, which guarantees both the repayment of the principal and the interest.
Dangote Petroleum Refinery has lowered the price of Premium Motor Spirit (PMS), or petrol, to N825 per litre, down from N835, as competition heats up in Nigeria’s fuel market.
This follows last month’s price reduction, when the 650,000 barrels per day refinery dropped the price from N865 to N835. The recent price change is aimed at providing more value to customers while strengthening Dangote’s position as a leader in the domestic market.
Skype, once a go-to platform for video and voice calls, is officially shutting down today, May 5, marking the end of its 22-year journey connecting people around the globe. The app was one of the first to revolutionize online communication, offering free calls over the internet long before it became common.
During its prime in the mid-2010s, Skype boasted over 300 million active users each month. Microsoft bought Skype in 2011 for a massive $8.5 billion, planning to make it a key part of its communication tools. However, as newer apps like WhatsApp, Zoom, and even Microsoft’s own Teams grew in popularity, Skype slowly lost its place.
In February, Microsoft announced it would officially shut down Skype on May 5 to focus more on Teams, which now handles most of its communication services. This move affects both free and paid users, although Skype for Business will stick around for a little longer.
Business
United Bank Of Africa, UBA, Delivers 23% Total Dividend for 2024, CEO Promises More to Come
United Bank of Africa, UBA, pays 171 Billion in total to its shareholders for the 79 percent increase for 2024.
This information was revealed during the 63rd Annual General held on the 25th of April, 2025. The UBA shareholders approved of the 3 naira dividend share, which will com bine with 2 naira interim dividend and will represent a 23 percent total dividend for 2024 in total.
It can be noted that UBA now has the highest Nigerian stocks and the CEO, Oliver Alawuba has assured the shareholders of the dividends that will be paid.”What we can assure our shareholders today is that UBA will continue to pay more dividends.”
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