Thursday, November 29, 2018

Tag "Debt Management office"

    Oniha: FG to float N100bn Sukuk in December

Oniha: FG to float N100bn Sukuk in December

Patience Oniha, director general of the Debt Management Office (DMO), says another N100 billion Sukuk will be floated in December.The federal government had earlier issued an N100 billion in September 2017 for the construction of 25 economic roads.Sukuk or Islamic Bond is a financial instrument structured to generate returns to ethical investors without infringing on the Islamic law, which forbids [...]

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    Lagos reduces debt by $20m but retains highest foreign debt portfolio

Lagos reduces debt by $20m but retains highest foreign debt portfolio

Lagos has retained its position as the state with the highest foreign debt in the country, with a foreign debt put at $1.45 billion as at June 30.This is according to a report by the Debt Management Office (DMO), on Wednesday in Abuja, titled: States, Federal Capital Territory (FCT) and Federal Governments’ External Debt Stock as at June 30, 2018.According [...]

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    DMO: FG planning another Green bond to finance 2018 budget

DMO: FG planning another Green bond to finance 2018 budget

The Debt Management Office (DMO) says the federal government will issue another Green bond to finance capital projects in the 2018 budget.Patience Oniha, DMO director general made this known on Friday while speaking at the listing ceremony of the pioneer FGN N10.69 billion Green Bond at the FMDQ OTC Securities Exchange in Lagos.NAN reports that Green bonds are fixed income, [...]

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    DMO: Nigeria’s debt hit N22.7trn in Q1 2018

DMO: Nigeria’s debt hit N22.7trn in Q1 2018

Nigeria’s total debt rose slightly by 4.5 percent to N22.7 trillion in the first quarter of 2018, the country’s debt management office (DMO) has said.In a statement issued on the DMO’s website on Wednesday, it said the increase was largely due to a growth in the domestic debts of states and the Federal Capital Territory (FCT).The proceeds from the $2.5 [...]

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    Nigeria’s bonds win three awards from EMEA Finance awards

Nigeria’s bonds win three awards from EMEA Finance awards

Nigeria was celebrated recently as it won awards in three categories for its securities issuance activities in the domestic and international capital markets.A statement issued on Friday in Abuja, by the communications department of the Debt Management Office (DMO), said the awards came from the EMEA Finance (Europe, the Middle East and Africa), a well-respected institution in the international financial [...]

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    DMO: N64bn raised from bonds for 2018 budget

DMO: N64bn raised from bonds for 2018 budget

The Debt Management Office says it has raised N64.04 billion towards the funding of the 2018 budget.In a statement released on Thursday, the office said the money is the proceeds of the federal government's bonds auction.DMO said the bonds were oversubscribed as investors staked N142.81 billion on the issue."We conducted the third in the series of FGN Bond auctions for [...]

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    DMO: Nigeria’s debt increased by N1.3trn in three months

DMO: Nigeria’s debt increased by N1.3trn in three months

Nigeria's debt stock increased by N1.327 trillion between September 2017 and December 2017.This is according to figures provided by Patience Oniha, director general of the Debt Management Office (DMO), on Wednesday at a press conference in Abuja.Oniha said the federal government is planning to reduce domestic debt to 60 percent to the total debt stock from the present 73 percent."The [...]

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    FACT CHECK: How correct is Melaye’s claim that APC borrowed N11tr in three years?

FACT CHECK: How correct is Melaye’s claim that APC borrowed N11tr in three years?

Dino Melaye, the senator representing Kogi west, recently said the APC administration has incurred N11 trillion debt in three years as against N6 trillion borrowed by the PDP in 16 years."About $5.5bn was borrowed from euro bond; what part of it will the youths of this country benefit from? About $1bn is to be spent on security and how does [...]

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    FG floats $2.5bn Eurobond, says debt level will not be affected

FG floats $2.5bn Eurobond, says debt level will not be affected

The federal government through the Debt Management Office (DMO) has floated a $2.5 billion Eurobond, making the fifth issuance in the country's history.According to a statement by Salisu Na'inna Dambatta, director of information at the ministry of finance, said it will be divided into two notes with different maturity periods."The notes comprise a $1.25 billion 12-year series and a $1.25 billion [...]

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    DMO: New $2.5bn Eurobond will be used to refinance old debts

DMO: New $2.5bn Eurobond will be used to refinance old debts

The Debt Management Office (DMO) says the proceeds from the planned $2.5 billion Eurobond will be used to refinance maturing domestic debt obligations of the federal government.The government had proposed a $5.5 billion Eurobond auction although it only issued $3 billion in 2017.In a statement sent to TheCable on Thursday, DMO said the proceeds will be converted to naira and [...]

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    DMO to roll over N1trn treasury bills in Q1 2018

DMO to roll over N1trn treasury bills in Q1 2018

The Debt Management Office (DMO) will roll over treasury bills worth N1 trillion in the first quarter of 2018, data made available by the Central Bank of Nigeria has shown.This represents 85 percent of the total bills that would mature in the first quarter.This comes after the Debt Management Office redeemed N198 billion worth of treasury bills with proceeds from [...]

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    Yet another FG bond oversubscribed

Yet another FG bond oversubscribed

The Debt Management Office (DMO) says the Sovereign Green Bond recorded oversubscription by 0.94 percent.This makes it the fifth federal government bond to record oversubscription in eights months.In June 2017, the federal government issued a $500m Eurobond which was oversubscribed by almost four times.In the same month, the diaspora bond, which was oversubscribed by 130 percent, was listed on the [...]

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    DMO: Foreign debt servicing hit $197.29m in Q3

DMO: Foreign debt servicing hit $197.29m in Q3

A total of $197.29m was spent on servicing Nigeria’s foreign debts in the third quarter of 2017 (Q3 2017), according to the Debt Management Office (DMO).Data obtained from the DMO on Wednesday showed that commercial loans or Eurobonds, accounted for the highest foreign debt payment, gulping 53 percent of the country’s external loan commitment.Following closely was multilateral sources which accounted [...]

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    FG lists $3bn Eurobond, diaspora bond on NSE

FG lists $3bn Eurobond, diaspora bond on NSE

The federal government has listed its $3 billion Eurobond and $500 million diaspora bond on the Nigerian Stock Exchange (NSE).Patience Oniha, director general of the Debt Management Office (DMO), disclosed this on Thursday.Shesaid the federal government would reduce the nation's debt cost in the coming years."We have already listed N1.5 billion early in the year, and we are coming toward [...]

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    FG floats N10bn Green bond — first of its kind

FG floats N10bn Green bond — first of its kind

The federal government, through the Debt Management Office (DMO), has launched a N10.69 billion Green bond to fund clean energy projects in the 2017 budget.The bond has a 5-year tenor and an interest rate of 13.45 percent.Subscription for the bond opened on Monday, December 18 and will close on Wednesday, December 20.Although Kenya announced plans to float a Green bond [...]

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    Nigeria’s debts on the rise — N20 trillion and still counting

Nigeria’s debts on the rise — N20 trillion and still counting

Data made available by the Debt Management Office (DMO) on Tuesday showed that Nigeria's debt stock has hit N20 trillion as at September 30, 2017.Domestic debt accounts for 76.96 percent of this figure while foreign debt accounts for 23.04 percent.In figures, domestic debt stood at N15.679 billion, an increase of 4.1 percent from the N15.034 trillion recorded in June.Foreign debt [...]

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Exchange Rates

November 27, 2018USDGBPEUR
INTERBANK306397354
LAGOS363475418
KANO364476420
PH364476420
ABUJA363478419
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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