DMO

Aisha Dahir-Umar, the Director General of National Pension Commission (PenCom), has described as “totally misleading” widespread reports that the Commission gave a N10 trillion loan to the Federal Government. She also responded to claims that PenCom was owing the Federal Government retirees arrears of pensions as well as insinuations that Pension Fund Administrators (PFAs) are not fulfilling their obligations to retirees with regards to access to their retirement savings. Mrs. Dahir-Umar, in a media interview at…

The Ways and Means had been a recurring loan the CBN issued to the federal government to finance shortfalls in the government budget. The post CBN announces measures to check inflation, stops Ways and Means to FG appeared first on Premium Times Nigeria. The Ways and Means had been a recurring loan the CBN issued to the federal government to finance shortfalls in the government budget. The post CBN announces measures to check inflation, stops Ways and Means to FG appeared first on Premium Times Nigeria. FOLLOW US…

The Debt Management Office (DMO) has re-opened four Federal Government of Nigeria (FGN) Bonds valued at N360 billion for subscription through a primary market auction window. According to a statement issued by the DMO on Tuesday, the bonds are a 13.98 per cent, February 2028 FGN Bond; a 12.50 per cent, April 2032 FGN Bond; a 16.25 per cent, April 2037 FGN Bond; and a 14.80 per cent , April 2049 FGN Bond. The four bonds are all valued at N90 billion, totalling N360 billion. According to the debt management…

Nigeria’s Debt Management Office (DMO) on Thursday said that the next administration will inherit a public debt of N77 trillion if the N23 trillion loans from the Central Bank of Nigeria (CBN) are securitised. The Director-General of the DMO, Patience Oniha, made this known in a statement on Thursday. In recent weeks, there have been heated debates on the sustainability of Nigeria’s debt amid shrinking revenue and mounting CBN loans. Last week, President Muhammadu Buhari requested a delayed approval for the…

The Debt Management Office (DMO) on Monday announced two Federal Government of Nigeria (FGN) Savings Bonds as its first bonds issuance for 2023. A statement by the DMO said one is a two-year FGN Savings Bond due on 11 January, 2025, at the interest rate of 9.600 per cent per annum. The second offer is a three-year FGN Savings Bond due on January 11, 2026, at the interest rate of 10.600 per cent per annum. The debt office said that the opening date would be January 3rd while the closing date would be January 6th.…

The Debt Management Office (DMO) has re-opened three Federal Government of Nigeria (FGN) Bonds valued at N225 billion for subscription, for the month October. According to a statement by the DMO, the bonds are a 14.55 per cent, April 2029 FGN Bond; a 12.50 per cent, April 2032 FGN Bond; and a 16.24 per cent, April 2037 FGN Bond. The bonds have original tenors of 10 years, 10 years and 20 years, respectively. Opening date for the auction is Oct.17, while the settlement date is Oct.19.“ The bonds are offered at…

The Debt Management Office (DMO) says Nigeria needs to earn higher revenue and manage its debt profile more efficiently.The Director-General, Patience Oniha, said this in Abuja on Wednesday when she spoke with the News Agency of Nigeria (NAN). “How much revenue is Nigeria generating? Statistics show that relative to other countries, Nigeria’s revenue is low. “The World Bank’s World Economic Outlook for 2020 showed that Nigeria with a revenue to GDP ratio of 6.3 per cent was ranked at 194 out of 196 countries…

The Debt Management Office (DMO) says revenue generation is a major constraint of the Federal Government and impacts the country’s debt situation negatively. The Director-General of the DMO, Patience Oniha, said this in a telephone interview with the News Agency of Nigeria (NAN) on Sunday in Abuja. According to Ms Oniha, the systemic resource mobilisation has been compounded by recent economic recessions. She said that the most viable solution to the country’s challenge remained to grow…

The Debt Management Office (DMO), on Monday announced the offer of two Federal Government of Nigeria (FGN) bonds for subscription. The first offer is a two-year FGN savings bond which will be due on May 18, 2024, at an interest rate of 7.93 per cent per annum. The second one is a three-year FGN savings bond which will be due on May 18, 2025, at 8.93 per cent per annum. According to the DMO, the opening date for the bonds is May 9, while the closing date and settlement date is May 18.…