‘DMO Yet To Get Govt Approval To Issue Eurobonds’

The Debt Management Office (DMO) has clarified recent news reports alleging the appointment of transaction advisers for a potential Eurobond issuance by the federal government, saying the reports were not accurate.

The appointment of Transaction Advisers by the DMO is usually done in accordance with the provisions of the Public Procurement Act, 2007 and is subject to the approval of the Federal Executive Council (FEC).

The debt office in a statement that was issued by its management yesterday, said the issuance of Eurobonds by the federal government of Nigeria in the International Capital Market is subject to the approval of FEC and receipt of the resolution of the National Assembly (NASS) in accordance with the provisions of the Fiscal Responsibilities Act, 2007 and Debt Management Office (Establishment, Etc.) Act, 2003.

DMO said it was yet to get the approval of the Federal Executive Council and the resolution of national lawmakers to issue Eurobonds. “Currently, the DMO has not received the requisite approvals from the FEC and Resolution of the NASS for any Eurobond Issuance,” the DMO said in a statement that was issued on Friday.

“We encourage the public to rely on official statements from the DMO for accurate updates on Nigeria’s debt management activities.”