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Lagos, South Africa and New York
Wednesday, October 28, 2020

DMO Suspends April 2020 FGN Savings Bond Offer

His Excellency, President Muhammadu Buhari, GCFR, during a nation-wide broadcast on the Coronavirus (COVID-19) yesterday announced restrictions of movement in the Federal Capital Territory (FCT), Lagos and Ogun States. The restriction of movement was based on the need to keep the populace safe and...

Nigeria spends N254bn on debt servicing in 90 days

The Debt Management Office yesterday reported that Nigeria spent a total sum of N254 billion to service the country’s debt obligations in just three months. Of these figures, FG paid N196.1 billion for the actual debt service for October 2019, N65billion in November 2019 and...

CBN Sells Only N41billion OMO Bills As Investors Shun Auction

The sale of treasury bills by the Central Bank of Nigeria, CBN, via Open Market Operations, OMO, suffered a snag last week Thursday as most investors stayed back from the exercise. The apex bank recorded an abysmal sale of N41 billion of the N300 billion...

Yields on Nigeria’s 2049 Eurobonds up 10.18%

Nigeria to follow Gabon, Ghana in selling sovereign debt Yields on Nigeria's 2049 Eurobonds climbed 143 basis points to 10.18% on Monday, the highest on record, while the naira weakened 1.1% in offshore trading. The country's benchmark stock index slumped to the lowest level in...

UPDATED:Nigeria to pick advisers for $3.3 bln Eurobond via open bids -DMO

ABUJA, Feb 14 - Nigeria plans to appoint advisers for a $3.3 billion Eurobond issue through an open competitive bid process and expects to complete an approval process for the sale soon, the Debt Management Office (DMO) said on Friday. The new Eurobond will...

Investors Bullish for Nigeria’s High-Yielding Debt as Buhari Push Lawmakers to Approve $3.3B Eurobond Sale

Nigerian President Muhammadu Buhari has asked the National Assembly to approve the sale of $3.3 billion in Eurobonds, marking the potential return of Africa’s top oil producer to debt markets after staying out last year. Finance Ministry spokesman Yunusa Abdullahi told Bloomberg a road show...

DMO to raise balance of 2019 borrowing from Eurobond

The Debt Management Office (DMO) says it will raise the balance of the 2019 borrowings from Eurobonds after exhausting the options of borrowing from multilateral and bilateral bodies at cheap rate. Reacting to reports that it has no plans to issue Eurobonds as part of...

Nigeria has no plans to go to eurobond market this year

LAGOS, June 18 - Nigeria has no plans to return to the eurobond market this year, after a sixth outing in November raised $2.86 billion, the head of the debt office said on Tuesday. Nigeria approved a three-year plan in 2016 to borrow more...

N6 bln bond inflow, an indication of Investors confidence in Nigeria’s economy

THE successful conduct of the general elections is rubbing off positively on investments, with the inflow of over $6 billion into the local bond market. Central Bank of Nigeria (CBN) Governor Godwin Emefiele described the foreign capital inflows to the bond market as an indication...

Nigeria’s Sukuk bond oversubscribed, receives N132bn for N100bn offer

The federal government received over N132 billion subscriptions from 2,073 investors for its N100 billion 7-year 15.74 per cent Sukuk offer, the Debt Management Office (DMO) has said. The DMO, in a statement in Abuja on Saturday, announced the result and added that the bond...
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