Broadcasting
Fidelity Bank redeems $400m Eurobond Notes

Fidelity Bank plc on Monday announced the redemption of the $400,000,000.00 Eurobond Notes due October 17, 2022.

Mrs. Nneka Onyeali-Ikpe, MD/CEO, Fidelity Bank Plc
On October 17, 2017, the bank successfully issued a US$400 million 5-year Eurobond. The transaction also included a Tender Offer (the “Tender Offer” or “Offer”) for the refinancing of the Bank’s US300million Senior Unsecured Notes issued in May 2018. The transaction was the largest combined new issue & liability management offering ever by a Nigerian issuer and was well received by analysts and investors.
The transaction which was managed by Citigroup Incorporated, Renaissance Capital and Standard Bank Group Limited achieved an oversubscribed order book of $630million. Upon final maturity of the Eurobond, noteholders received a total of US$421 million covering the principal amount and the accrued 6 months coupon in line with the executed Trust Deeds.
According to the Bank’s MD/CEO; Nneka Onyeali-Ikpe, “the liquidation of the notes despite the strong headwinds in the domestic economy – especially when viewed against the backdrop of short dollar supply, is a testament to the strong liquidity position of the bank and the resilience of our balance sheet”.
Fidelity Bank is one of the leading financial institutions in Nigeria. According to its interim audited result for the mid-year 2022, the Bank reported strong financial ratios with a capital base of N3.7trillion, PBT of N25bn and a return on equity (ROE) of 15.4% evidencing the efficient management of the bank’s assets.
In recognition of its commitment to product innovation and strong corporate governance, the Bank was recently recognized as the Best SME Bank Nigeria 2022 by the Global Banking & Finance Awards.
The bank also won the 2022 Platinum Award of the Development Bank of Nigeria for its leading role in disbursing loans to focused sectors. In addition, it was recognized as the 2021“Fastest Growing Bank” in Nigeria and “MSME & Entrepreneurship Financing Bank of the Year” at the 2021 BusinessDay Banks and Other Financial Institutions (BAFI) Awards.
Broadcasting
NUJ Accuses NBC of Attempting to Gag Media, Demands Dialogue

Nigeria Union of Journalists (NUJ) has criticised the National Broadcasting Commission (NBC) over a recent directive to broadcast stations, describing it as a threat to free speech and press freedom.

In a press release signed by Achike Chude, national secretary, the union said it viewed the NBC’s notice released on 17th April with “grave concern and utter disappointment.”
It said the directive, which warned broadcasters to ensure “strict and uncompromised compliance,” was “nothing short of a veiled attempt to gag the media and institutionalise censorship.”
The union argued that the NBC’s warning against anchors expressing “personal opinions” interferes with newsroom decisions.
“Journalism, particularly in the realm of current affairs and political analysis, requires robust engagement,” the NUJ said.
It added, “To strip presenters of their right to analyze and contextualise news is to reduce the Nigerian media to a mere mouthpiece.”
The NUJ also faulted what it called vague rules and harsh penalties.
It said classifying such actions as offenses punishable by fines or suspension creates “a chilling effect.”
According to the statement, “This regime of fear encourages self-censorship, where journalists are too afraid to ask tough questions.”
Citing Section 39 of the 1999 Constitution, the union stressed that freedom of expression includes “the freedom to hold opinions and to receive and impart ideas and information without interference.”
It added, “The NBC Code cannot and must not be used to override the supreme law of the land.”
The NUJ called for dialogue instead of threats and urged journalists to remain “resolute, professional, and fearless.”
It said, “The media is the watchdog of society, not the lapdog of the government.”
Broadcasting
Fela Makes History as First African to be Inducted into Rock and Roll Hall of Fame

Fela Anikulapo-Kuti, simply known as Fela, legendary Nigerian musician, has made history as the first African artist to be inducted into the Rock & Roll Hall of Fame.

Fela
This is coming after he was posthumously honored with the 2026 Grammy Lifetime Achievement Award, becoming the first African artist to receive this prestigious special merit recognition.
Fela will be honoured in the early influence category this year, along with Queen Latifah, rapper MC Lyte, country rocker Gram Parsons, and Cuban singer Celia Cruz at this year’s Rock and Roll Hall of Fame event.
The honorees were revealed on Monday night in the US, during an airing of American Idol.
Sade Adu, Nigerian-born British singer, will be honoured in the performance category.
However, Shakira, Mariah Carey, Lauryn Hill, New Edition, and Pink, missed out on the final cut despite being nominated.
Over 1,200 artists, historians and music industry professionals voted to decide the honorees.
The induction ceremony will be held on 14 November at the Peacock Theatre in Los Angeles.
Broadcasting
FG to Gift Nigerians over 100 Free TV Channels from May 15

National Broadcasting Commission (NBC) is set to launch so-called FreeTV, with over 100 channels for news, sports, education, entertainment and children’s programming in multiple Nigerian languages.

The launch is scheduled for May 15.
Charles Ebuebu, director-general, NBC, who disclosed this, said the new platform will offer free-to-air access with no carriage fees, leveraging hybrid satellite and internet delivery via NigComSat-1R.
The new plan is not an upgrade, the NBC stressed. This is a rebuild, according to Ebuebu .
FreeTV will be true free-to-air – no encryption, no set-top box barrier.
Any DVB-T2/S2 television will work. A mobile app will extend reach to phones and tablets.
The platform will launch with over 100 national, regional and state channels across sports, news, children’s programming, education, entertainment and cultural content in Hausa, Yoruba, Igbo, Tiv, Ijaw, Edo, Fulfulde, Ibibio, Efik and Nupe – all in HD.
Crucially, the NBC has partnered with a Bulgarian firm, GARB (operating since 2006 and recognised by the European Broadcast Union), to deliver a 94 per cent-accurate audience measurement system using return-path data, app analytics, demographic panels, and Artificial Intelligence (AI).
To qualify broadcasters, must commit their channels, produce a minimum of 60 per cent local content, and promote FreeTV until January 2029.
After that, a regulated tiered rate card takes effect.
According to NBC, the strategic rationale is simple: build viewers first, monetise later.
The document further revealed that six regional production hubs in Lagos, Abuja, Port Harcourt, Enugu, Kano and Benin would function as local content factories, expected to generate 500 to 1,000 jobs per zone within two years.
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