Federal Republic of Nigeria through the Debt Management Office (DMO) has pioneered the inaugural listing of Diaspora Bond on the FMDQ OTC Securities Exchange platform.
FMDQ in a statement in Lagos said that the listing was the first in the Nigerian debt capital markets (DCM).
The statement said the 1.5 billion dollars Federal Government Eurobond due 2027 at 6.5 per cent and 1.5 billion dollars notes due 2047 under its global medium-term note programme Eurobonds were also listed.
It said that the Diaspora Bond Diaspora Bond, which was due in 2022, was issued in June 2017 along with the two tranches of the FRN Eurobonds, and listed on FMDQ to promote, among others visibility for the issues and financial inclusion.
It said that the listings of foreign currency-denominated debt securities by the FRN showed the government’s unrelenting commitment to supporting the growth and development of the nation’s DCM.
Ms Patience Oniha, the Director-General of the DMO, said that the listings would increase number and range of securities available in the domestic capital markets, thereby deepening the market and promoting financial inclusion.
Oniha said: “this history will give more visibility to the domestic debt capital markets, which will be beneficial for attracting capital from local and
Ms Tumi Sekoni, the Vice President, Business Development of FMDQ, was quoted by the statement as saying the bonds listing would contribute to the DCM development.
Sekoni said that Diaspora Bond provided the opportunity for Nigerians in the international markets (and those in the domestic market with foreign capital) to contribute to the development of the Nigerian DCM and by extension, the economy.
She said that listing the bonds on FMDQ would rightly position the nation to continue to maximise its potential via the Nigerian DCM.
The Guardian Newspaper December 22nd, 2017