Buhari Renews Appointment of Patience Oniha as DMO DG

By Aduragbemi Omiyale

Ms Patience Oniha has been given an opportunity to remain in office as the Director-General of the Debt Management Office (DMO) for another term of five years.

The debt office chief, who has been in office for the past five years, was allowed to continue on the approval of the renewal of her appointment by President Muhammadu Buhari.

A statement signed by the Senior Special Assistant to the President on Media and Publicity, Mr Garba Shehu, on Thursday night explained that the reappointment of Ms Oniha was purely based on her “significant achievements;” in the last five years.

The image-maker of Mr Buhari noted that the DMO DG, since she assumed office, has internally introduced reforms to strengthen the agency as a critical agency in the public finance ecosystem of the country.

It was stated that amongst her achievements are the “introduction of Sukuk and green bonds to finance the development of infrastructure where there is a huge gap.”

“Under her watch, as part of the initiatives to improve the sustainability of the public debt and opening up avenues for raising long-term funds for corporates, the DMO introduced long-term bonds with tenors of 30 years in the domestic and international markets,” the statement added.

“This is aside from attracting diverse investors including retail investors to the FGN bond market,” the presidency further disclosed.

The reappointment, which Mr Shehu said “takes effect from July 1, 2022, [is] in accordance with Section IV (9-i) of the Debt Management Office (Establishment ETC) Act, 2003.”