The Debt Management Office has faulted recent news reports suggesting the appointment of transaction advisers for a potential Eurobond issuance.
The DMO made its position known in statement made available to PUNCH Online on Friday.
It was earlier reported that the Federal Government has enlisted the expertise of leading global investment banks, including Citibank NA, JPMorgan Chase & Co, and Goldman Sachs Group Inc., to guide its forthcoming Eurobond issuance.
The earlier report also said that the FG appointed Standard Chartered Bank and the Lagos-based financial advisory firm Chapel Hill Denham to consult on this venture.
According to the DMO, the appointment of Transaction Advisers follows strict guidelines set forth by the Public Procurement Act, 2007 and is contingent upon approval from the Federal Executive Council.
Additionally, the issuance of Eurobonds by the Federal Government of Nigeria in the International Capital Market is subject to further checks.
These include approval from the FEC and the receipt of the Resolution of the National Assembly, in accordance with the provisions of the Fiscal Responsibilities Act, 2007 and the Debt Management Office (Establishment, Etc.) Act, 2003.
It stated that, as of now, the DMO has not received the necessary approvals from the FEC or the resolution of the NASS for any Eurobond issuance, therefore, any claims suggesting otherwise are unfounded.
The DMO urges the public to rely on official statements directly from their office for accurate updates on Nigeria’s debt management activities. Transparency and adherence to legal processes remain paramount in ensuring responsible financial management for the nation.
The statement read, “The Debt Management Office would like to clarify that recent news reports suggesting the appointment of Transaction Advisers for a potential Eurobond issuance are inaccurate.
“The appointment of Transaction Advisers by the DMO is done in accordance with the provisions of the Public Procurement Act, 2007 and is subject to the approval of the Federal Executive Council.
“Also, 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 in accordance with the provisions of the Fiscal Responsibilities Act, 2007 and Debt Management Office (Establishment, Etc.) Act, 2003. Currently, the DMO 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,.”
