L-R: Ms. Patience Oniha, Director-General, Debt Management Office, Nigeria; Mr. Bola Onadele. Koko, Managing Director/Chief Executive Officer, FMDQ Securities Exchange PLC; during the presentation of the mementos to the issuer at the Listing Ceremony for the US$2.50bn Dual-Tranche and US$2.87bn Triple-Tranche Federal Republic of Nigeria Eurobonds at Exchange Place, Lagos.
The listing comprises dual-tranche 2.50 billion dollars and triple-tranche 2.86 billion dollars Eurobonds for federal government through Debt Management Office to raise US$2.50bn Dual-Tranche and US$2.87bn Triple-Tranche Eurobonds from capital markets on the Financial Market Dealers Quotation (FMDQ) in Lagos.
Ms Patience Oniha, Director General, DG, DMO stated this while signing of the FMDQ Bond listing register and presentation of the Bond listings certificate to the issuer (Federal Government) at FMDQ Securities and Exchange place.

Speaking during the listing, Oniha noted that listing of foreign currency-denominated debt securities by the Federal Government showed its unrelenting commitment to supporting the growth of the Debt Capital Market (DCM) for economic development.
She said the Eurobonds are in line with the Federal Government’s debt management strategy aimed at achieving lower cost.

L-R: Mrs. Hamda Ambah, Managing Director, FSDH Merchant Bank Limited; Mr. Bola Onadele. Koko, Managing Director/Chief Executive Officer, FMDQ Securities Exchange PLC; Ms. Patience Oniha, Director-General, Debt Management Office, Nigeria; Mr. Kobby Bentsi-Enchill, Executive Director & Head, Debt Capital Markets, Stanbic IBTC Capital during the presentation of the FMDQ bonds listings certificates at the Listing Ceremony for the US$2.50bn Dual-Tranche and US$2.87bn Triple-Tranche Federal Republic of Nigeria Eurobonds at Exchange Place, Lagos.

L-R: Mrs. Hamda Ambah, Managing Director, FSDH Merchant Bank Limited; Mr. Bola Onadele. Koko, Managing Director/Chief Executive Officer, FMDQ Securities Exchange PLC; Ms. Patience Oniha, Director-General, Debt Management Office, Nigeria; Mr. Kobby Bentsi-Enchill, Executive Director & Head, Debt Capital Markets, Stanbic IBTC Capital during the signing of the FMDQ bonds listings register at the Listing Ceremony for the US$2.50bn Dual-Tranche and US$2.87bn Triple-Tranche Federal Republic of Nigeria Eurobonds at Exchange Place, Lagos.
The DG said the government was committed to achieving a ratio of 60 percent to 40 percent between domestic and external debt adding that the bonds were raised to refinance the country’s domestic debt.
Oniha said the proceeds of the Eurobonds would be used to fund the fiscal deficit as well as other financing needs of the country.
She also disclosed that the 2.50 billion dollars Eurobonds issued in February 2018 was meant for refinancing of domestic debt.

Mr Bola Onadele, FMDQ Managing Director, commended the federal government for the landmark achievement:
He said the FMDQ would further deepen and effectively position the Nigerian DCM for growth through consistent collaboration with its stakeholders.
While Executive Director & Head, Debt Capital Markets, Stanbic IBTC Capital Limited, Mr Kobby Bentsi-Enchill applauded the federal government through DMO for strengthening the market with an array of products.

He said the market had been more functional with the activities of DMO.
Also Mrs Hamba Ambah, Managing Director, FSDH Merchant Bank Limited, added that the DMO play a critical role in deepening the domestic market.
Ambah therefore urges the DMO to ensure that securities were accessible and traded by retail investors.