Browsing: The Debt Management Office

Oniha made the assertion at the 2nd Vanguard Economic Discourse tagged: “Economy in Rebound: Pitfalls, Trajectories and Resetting’’.

“We made the proposal to the Vice President, who liked it and took it to the President, who approved it and then presented to the National Economic Council, which also approved it. Twenty-three states showed interest and we have restructured their debts into a 20-year Federal Government of Nigeria bonds,” Dr. Nwankwo said

According to the DMO, the three-year bonds will be for N10 billion, the 10-year tenor bond would be for N30 billion, while the 20-year tenor bond will be for N25 billion

This was contained in the DMO March 2014 FGN Bond Offer Circular, posted on the company’s Website

The DMO in its January 2014 FGN Bond Circular on its Website on Friday, said settlement for the bonds would take place on January 17

The debt office said it would issue N35 billion each of the three-year bonds to mature in August 2016 and 20-year bond to mature in July 2030

“It has to do with what we have done to transform the market.”
Nwankwo said that the DMO had transformed the market to raise long-term funds of up to 20 years from the market