By Modupe Gbadeyanka Some unnamed banks have been shortlisted by the Debt Management Office (DMO) to manage the proposed plan by the Federal Government to sell $1 billion Eurobond before the end of 2016. Reuters reports that a senior official, who begged for anonymity, however disclosed that the FG was yet to make a final decision on this. \u201cThe names have been picked but it has to go through government process,\u201d he told Reuters. \u201cThe issue will happen this year\u201d though no bank has been appointed yet to arrange the issue. But already, according to Reuters, the list has been sent to the Bureau of Public Procurement (BPP), after which the Minister of Finance, Mrs Kemi Adeosun, will offer the names to the cabinet for approval. The official said Mrs Adeosun met with Moody\u2019s Investors Service on Friday to discuss Nigeria\u2019s ratings before the bond sale. Moody\u2019s downgraded Nigeria\u2019s sovereign rating to B1 from Ba3 in April, citing risks to government efforts to diversify revenues away from oil, its mainstay. Citibank and Deutsche Bank managed previous issues by Nigeria in 2010 and 2013. Nigeria has $500 million of commitments for the planned Eurobond and any decision to increase the size of the offer will depend on pricing, said Mrs Adeosun.