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Nigeria’s Public Debt Surges To N97.341Trn In Q4 2023

The Debt Management Office (DMO) at the weekend disclosed that Nigeria’s Public debt stock rose to N97.341 trillion or $108.229 billion as at December 31, 2023, representing an increase of N9.43 trillion when compared to the debt reported at the end of the third quarter of the year. The Office, in a Notice issued last […]

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Senate Begins Probe Of CBN’s ABP Interventions, Ways And Means Loans

Nigeria’s Senate, the upper legislative chamber, on Monday inaugurated an ad-hoc committee to investigate the Central Bank of Nigeria’s (CBN’s) Ways and Means loans to the Federal Government and the Anchor Borrowers Programme (ABP) intervention funds in the agriculture sector over the past years. In his inaugural address to the ad-hoc committee chaired by Senator […]

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Pension Fund Investment In Bonds Not Loan To Govt – PenCom D-G

The Director-General of the National Pension Commission (PenCom), Aisha Dahir-Umar, has defended investments made by Pension Funds Administrators (PFAs) under the Contributory Pension Scheme (CPS) as investments in Federal Government of Nigeria’s (FGN’s) securities rather than loans to government. She, therefore, refuted the milling rumour in the public space that the Commission gave N10 trillion […]

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DMO To List N350Bn Sukuk Bond On NGX, FMDQ

Following the successful issuance of its sixth Sukuk bond worth N350 billion in October 2023, the Debt Management Office (DMO) has announced the listing of the Sukuk on NGX and FMDQ Securities Exchange. According to a statement by the DMO on the debt instrument, listing the N350 billion Sukuk will enable investors who didn’t subscribe […]

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FG Targets N2.5Trn From Bond Auction In February

The Federal Government is targeting to raise N2.5 trillion from its second FGN bond auction of 2024 as part of its efforts to raise more funds through debt instruments in order to bridge the about N9.18 trillion deficit in the approved 2024 budget. According to the latest circular from the Debt Management Office (DMO) on […]

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Analysts Forecast Bearish Sentiment In TB, Bond Markets

……Also Mixed Sentiment In Eurobond Market Researchers at Comercio Partners, one of Nigeria’s firms with core business in trading fixed income securities and equities as well as providing financial advisory and assets management services, have projected bearish sentiment in the nation’s Treasury Bills (TBs) and FGN’s Bond markets this week in view of the micro […]

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Nigeria’s External Debt Drops To $41.59Bn In Q3 – DMO

Nigeria’s total external debt stock declined to $41.59 billion as of the third quarter this year, representing $1.57 billion drop from the $43.16 billion it stood in the third quarter of last year The Debt Management Office (DMO) gave these figures in its juts published third quarter 2023 public debt report. According to the report, […]

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Nigeria Commits Over N1Trn Sukuk Fund To Infrastructure Projects – Yuguda

The Director-General of the Securities and Exchange Commission (SEC) Nigeria, Mr. Lamido Yuguda, has listed some of the gains recorded since Nigeria committed to collaborating with the Islamic Financial Services Board (IFSB) as including improved funding of the nation’s infrastructure through Sukuk funds. Yuguda, in his keynote address at the First Annual SEC Nigeria-IFSB International […]

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Why FTSE-Russell, MSCI Reclassify Nigerian Securities – SEC D-G

The Securities and Exchange Commission (SEC) has attributed the reclassifications of Nigerian securities indices by FTSE-Russell and MSCI to the current foreign exchange (FX) liquidity challenges in the country and the effects on investor confidence in the economy. FTSE Russell, a subsidiary of London Stock Exchange Group (LSEG), recently downgraded the Nigerian equities market just […]

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FG’s Tax Reforms Could Reduce Debt Service Ratio To GDP By 20% – Oniha

The Director-General of the Debt Management Office, Ms. Patience Oniha, has projected that ongoing Federal Government’s efforts to enhance the nation’s  revenue through current fiscal reform initiatives could  help in reducing the nation’s debt service ratio to GDP by 20% in the medium-term. Oniha, who made this projection on Wednesday during an interview with Bloomberg, […]