The servicing of Nigeria’s domestic debt cost the nation N1.23tn in 2016, statistics from the Debt Management Office have revealed. The statistics showed that the highest interest payment of N839.79bn was made on funds borrowed using the instrument of FGN Bonds. Similarly, N335.58bn interest was paid on Nigeria Treasury Bill, while debts incurred via Treasury […]
Read More The Federal Government will today sell the first tranche of its newly introduced Federal Government of Nigeria Savings Bond (FGNSB). The minimum subscription for the FGNSB has been fixed at N5, 000 while the maximum subscription for the new security is fixed at N50 million. The Debt Management Office (DMO), which oversees issuance of Federal […]
Read More Office of the Debt Management Office (DMO), has named Stanbic IBTC Stockbroker Limited as the receiving agent for the much publicised Federal Government of Nigeria Savings Bond (FGNSB) whose subscription opens on Monday. The offer will run for five days, with subscription forms available through Stanbic IBTC Stockbroker Limited and in all branches of Stanbic […]
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The economic recession notwithstanding, the country was able to raise over $7.8billion of the proposed $1 billion in the Eurobond market, in what signifies a global investors’ endorsement of the federal government’s economic recovery initiatives and growth. The issue was 750 percent oversubscribed; underscoring buoyant investor appetite for Africa’s largest emerging market. The bond, issued […]
Read More Nigeria’s total debt profile as at December 31 last year was $57.39 billion (N17.36 trillion), Director-General of the Debt Management Office (DMO), Abraham Nwankwo said yesterday. He spoke during his defence of the agency’s 2017 budget before the Senate Committee on Local and Foreign Debts in Abuja. Nwankwo said the amount included domestic and foreign […]
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