DMO will do more after my exit – Nwankwo

The outgoing Director General of Debt Management Office (DMO) Dr Abraham Nwankwo, has assured that his exit will not affect the performance of the agency, but would better initiatives from the team he is leaving behind.

Nwankwo disclosed this Wednesday, on the floor of Nigerian Stock Exchange (NSE) at his validatory closing bell ringing of the day.

The out-going DG commended the NSE Chief Executive Officer Oscar Onyema and his management team for the support they gave him during his tenure in office, stating that he enjoyed good working relationship with the exchange and dealing members in the market.

While emphasizing that DMO’s achievements under his watch, was with the blood and sweat of the staff he stressed that they are ready to do more in order to give Nigeria the best. “I assure you that DMO remains on a trajectory, resilience and positive initiatives.

Commenting on the success of diaspora bond, he said Nigerian should be commended that its first retail fund raising in the international capital market was successful. The bond was structured as a retail instrument targeted at Nigerian abroad, in which $300 million was raised at coupon rate of 5.625 percent for a tenor of five years.

On his part the NSE CEO, while commending Dr Nwankwo said his leadership has helped to restructure the debt instrument, thereby deepening the Nigerian debt market both at the primary and secondary level. Adding that the success and initiatives of FGN Bond, Green Bond, Sukuk, Diaspora Bond among others was to the credit of the outgoing DMO DG.

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