The Federal Government spent $25.82bn to service its debts between 2012 and 2016, the Debt Management Office has said. If converted to naira using the official rate of ₦305 to one dollar as of December 31, 2016, DMO said this amounted to ₦7.88tn. The DMO, which stated this in its 2016 Annual Report and Statement […]
Read More Nigeria total debt rose by ₦4.76 trillion in 2016, the Debt Management Office has disclosed. The DMO disclosed this in its 2016 Annual Report and Statement of Accounts obtained by our correspondent in Abuja on Wednesday. According to the office, Nigeria’s debt as of December 2016 stood at ₦17.36 trillion, up from ₦12.6 trillion a […]
Read More
The Debt Management Office (DMO) has raised ₦106 billion through the Federal Government of Nigeria (FGN) Bonds. The funds raised will support the implementation of the Federal Government’s ₦7.44 trillion 2017 budget, which has an allocation of ₦2.36 trillion to capital expenditure. The funds were raised after the DMO, in line with its mandate, conducted […]
Read More
The Federal Government plans to sell ₦135 billion worth of bonds in its July 12 auction, the Debt Management Office (DMO) has said. The offer circular, which was obtained from its website on Wednesday in Abuja, said it would sell ₦35 billion of bonds that would mature in July 2021 at 14.50 per cent. It […]
Read More The Acting President, Professor Yemi Osinbajo, has approved the appointment of Mrs Patience Oniha as the new Director General of Debt Management Office (DMO). Minister of Finance Mrs Kemi Adeosun announced the appointment in Abuja, at the weekend. Oniha, who hails from Edo State, takes over from the former Director General, Dr Abraham Nwankwo, who […]
Read More
One of Nigeria’s longest serving public servant, Dr Abraham Nwankwo, Director General of Debt Management Office (DMO) will bow out from office on Friday after serving for ten years. Dr. Abraham Nwankwo was appointed Director-General of the Debt Management Office in 2007, having joined the services of the agency in 2001 as Assistant Director. In-between […]
Read More 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 […]
Read More
Nigeria’s apex capital market regulatory authority, the Securities and Exchange Commission (SEC) has commended the Debt Management Office (DMO) for the proposed Federal Government maiden ₦100.0 billion Islamic debt instrument (Sukuk) in the Nigerian Capital Market. According to the apex regulator, the debt instrument is a major milestone for Nigeria as it would catalyze the […]
Read More As Nigeria continues to savour the success of its maiden Diaspora bond and prepares for the issuance of its first-ever sovereign Sukuk, the Federal Government yesterday affirmed that it will explore issuance of more innovative bonds to provide opportunities for all segments of populace to participate in the national economic development. Director-General, Debt Management Office […]
Read More The size of Federal Government’s loans has reflected on the debt servicing expenses as it spent ₦474.06bn to service domestic debts in the first three months of this year. Statistics obtained from the Debt Management Office in Abuja on Wednesday showed that the country also spent $127.92m to service foreign debts in the first quarter […]
Read More The Nigeria’s total indebtedness ranging from foreign to local creditors upsurges to a total of ₦19.16tn, the Debt Management Office has said. This is ₦1.8tn increase from the ₦17.36tn recorded at the end of December 2016. As of March 31, 2015, the country’s total debt stood at ₦12.06tn. This means the debt level increased by ₦7.1tn […]
Read More Director General of Debt Management Office (DMO), Dr. Abraham Nwankwo, has said the administration of President Muhammadu Buhari is set to empower every Nigerian economically with the newly introduced Federal Government of Nigeria Savings Bond (FGNSB). He made the disclosure in an interview with journalists shortly after a grassroots sensitisation workshop on the FGNSB held […]
Read More
