Wednesday, September 19, 2018

Tag "abraham nwankwo"

    Bad outing for bonds as investors shun auctions

Bad outing for bonds as investors shun auctions

The Debt Management Office (DMO) says it raised N56.05 billion in a bond auction on Wednesday, which is less than half of the amount offered.The DMO had offered N135 billion worth of bonds maturing in 2021, 2027 and 2037 at interest rates of 16.8%, 16.8% and 16.9% respectively.At Wednesday's auction, the debt office sold N9.18 billion worth maturing in five [...]

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    REVEALED: Nigeria’s debt profile is $57.39bn

REVEALED: Nigeria’s debt profile is $57.39bn

Abraham Nwankwo, director-general of the Debt Management Office (DMO), on Thursday revealed that the nation’s total debt profile as of December 31, 2016, was $57.39 billion (N17.36 trillion).He made this known while defending the agency’s 2017 budget before the senate committee on local and foreign debts in Abuja.Nwankwo said the amount included domestic and foreign debts owed by the country.He [...]

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    18 states have benefited from bailout, says FG

18 states have benefited from bailout, says FG

Eighteen states have so far benefited from the special intervention fund earlier approved by President Muhammadu Buhari.Over N322 billion of states’ loans were restructured in August, 2015, while about N252 billion have been restructured this month.This was disclosed on Thursday at the national economic council meeting held at the state house and presided over by Vice President  Yemi Osinbajo.While briefing [...]

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    ‘Nigerian bonds strong despite JP Morgan’s delisting’

‘Nigerian bonds strong despite JP Morgan’s delisting’

The Debt Management Office (DMO) says the quality of Nigerian bonds was not affected by the removal of Nigeria from the JP Morgan bond index for emerging markets.Abraham Nwankwo, director-general of DMO, made the statement at a news conference in Abuja on Wednesday.He said the federal government's bonds were strong and robustJ.P Morgan Chase and Co. delisted Nigeria from its [...]

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    FGN bonds issued in ‘note format’

FGN bonds issued in ‘note format’

The Debt management Office (DMO) says the Federal Government of Nigeria bonds in the international market had been issued in global depository note (GDN) format.The GDN is a debt instrument created by a depositary bank that evidences ownership of a local currency denominated debt security.Dr Abraham Nwankwo (pictured), DMO Director General, said in a statement: "On Thursday, July 31, 2014, [...]

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Exchange Rates

September 18, 2018USDGBPEUR
INTERBANK360.45480.18420.32
LAGOS360485425
KANO361483423
PH362482423
ABUJA362481423
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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