FGN up-to-date with debt service obligations – DMO

Emma Ujah, Abuja Bureau Chief 

The Federal Government said has that it was up-to-date coupons and principal repayments on FGN Securities, including Savings Bond and FGN Bonds.

The Debt Management Office (DMO) which gave the clarification this evening, in Abuja, added that the government remained committed to its debt service obligations to domestic and foreign investors as and when due. 

It said, “The Federal Government of Nigeria is up-to-date in coupons and principal repayments on FGN Securities, including Savings Bond and FGN Bonds have been paid as of date.”

The clarification, it was learnt was to address any concern of investors on the Federal government capacity and willingness to service its debts.

Only last week, the Federal Government of Nigeria (FGN) $500 million Domestic Dollar Bond recorded a massive oversubscription as investors staked $900 million.

Analysts considered the oversubscription as an eloquent testimony of investors’ faith in the Nigerian economy, especially given the fact that the government promptly meets its debt service obligations.

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