Dipo Olowookere
By Dipo Olowookere
The Director-General of the Debt Management Office (DMO), Ms Patience Oniha, has been commended for running the agency efficiently, which has increased the confidence investors have in the debt market.
The chief executive officer of the Nigerian Exchange (NGX) Limited, Mr Temi Popoola, who gave this commendation last week, said the domestic capital market was now attractive to various categories of investors because of the DMO boss.
Speaking at the closing gong ceremony last Thursday, Mr Popoola said the DG has made it easy to see the journey and the developments happening in the Nigerian debt story.
Last week, the NGX organised the event to commemorate the listing of a triple-tranche $4 billion Eurobonds, $1.25 billion Eurobonds and the N250 billion Sukuk on the exchange.
The NGX chief also used the occasion to assure stakeholders of the bourse’s capacity to be a veritable platform for listings and trading instruments.
“We realise that we also need to diversify our business model by attracting new and young Nigerians to the capital market.
“Events like this are important to us because it gives us the opportunity to diversify the narrative of the Nigerian capital market and we will do everything we can to attach the necessary visibility to make sure that these instruments can trade efficiently, just as we continue the story around the market,” he said on the renewed focus of the NGX brand.
In her remarks, Ms Oniha commended the exchange for providing a credible platform for investors to trade securities issued by the government and corporate organisations.
She said the “Sukuk transaction, which began in 2017, gradually improved with the first two transactions being N100 billion and the last one now at N250 billion.”
“With all the work market operators are doing, people are now getting more familiar and comfortable with these transactions.
“At DMO, we are supporting the government and creating more investment opportunities just as we are also collectively supporting securities transactions at NGX,” she added.
Business Post reports that the debt office had listed on the NGX the triple-tranche $4.00 billion Eurobonds comprising 6.125% $1.25 billion notes due September 2028; 7.375% $1.5 billion notes due September 2023; and, 8.25% $1.25 billion notes due September 2051, on Monday, January 31, 2022.
Other securities listed on the exchange were the N250.00 billion 10-year 13.00% Ijarah Sukuk due 2031 and the 8.375% $1.25 billion Eurobond due March 2029, on Tuesday, July 5, 2022, and Thursday, July 7, 2022, respectively.
