The Debt Management Office (DMO) has clarified that recent news reports suggesting the appointment of Transaction Advisers for a potential Eurobond issuance are inaccurate.
It noted that the appointment of Transaction Advisers by the DMO is done following the provisions of the Public Procurement Act, 2007, and is subject to the approval of the Federal Executive Council (FEC).
Also, the DMO added that the Issuance of Eurobonds by the Federal Government of Nigeria in the International Capital Market is subject to the approval of the FEC and receipt of the Resolution of the National Assembly (NASS) following the provisions of the Fiscal Responsibilities Act, 2007 and Debt Management Office (Establishment, Etc.) Act, 2003.
In a statement by the management, the DMO said currently, it has not received the requisite approvals from the FEC and Resolution of the NASS for any Eurobond Issuance.
“We encourage the public to rely on official statements from the DMO for accurate updates on Nigeria’s debt management activities,” the DMO stated.
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