Tag Archives: DMO

Nigeria denies failing World Bank transparency rules

The Debt Management Office has denied reports alleging that Nigeria failed the World Bank disclosure rule, stating that no such publication by the World Bank exists. The DMO disclosed this in a statement dated Thursday, July 14, 2022, where it claimed that Nigeria is one of the only countries that has imbibed the principle of Transparency in Public Debt. The ...

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DMO to raise from Bond issuance of N75 billion

The Federal Government through the Debt Management Office (DMO) has announced the offer for subscription by auction for its FGN January bond, with its auction date set for February 16, 2022. This is contained in a recent circular published by the DMO on its website. According to the disclosure, the issuance will be in two tranches, as it aims to ...

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N2.2 trillion allocation to our office not missing- DMO

The Debt Management Office (DMO) has said that N2. 2 trillion is not missing. The DMO in a statement said: “The provisions in the Annual Appropriation Acts for Debt Service, including the 2018 Appropriation Act, are dedicated for Debt Service payments only”. This item in the yearly budget, the DMO said that is for the repayment of Principal, Interest and ...

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DMO hails release of N1.2trn capital funding

The Debt Management Office (DMO) says the release of N1.2 trillion for capital projects by the Federal Government in six months is a positive development in the country. The capital projects are contained in the 2017 Appropriation Act. The 2017 budget was only finalised in July 2017, when its implementation started. The DMO said in a statement on Tuesday evening ...

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FG reduces domestic borrowing for corporate entities – DMO

The Debt Management Office (DMO) has said that the Federal Government was reducing its exposure in the domestic market to pave way for borrowings by corporate entities. The DMO’s Director-General, Patience Oniha, said, in Lagos, that government had reduced its exposure in the bond market for corporate entities to raise funds. “We are reducing the amount we borrow in the ...

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Economic experts slam FG’s proposed $5.5bn loan for infrastructure development

Economic experts on Monday expressed concern over the Federal Government’s intention to borrow 5.5 million dollars to fund some capital projects captured in the 2017 Budget. President Muhammadu Buhari presented a four-page letter to the Senate which showed that the proposed borrowing was for the implementation of the external borrowing approved in the 2017 Appropriation Act. However, this is not ...

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