The Debt Management Office (DMO) has dismissed a report that Chapel Hill Denham, a company linked to the Minister of Finance, Mr Wale Edun has been appointed as one of the Transaction Advisers for a potential one billion dollars Eurobond.
While dismissing the report, the Director-General of the
DMO, Patience Oniha said the appointment of Transaction Advisers for the
issuance of Eurobond is subject to the approval of the Federal Executive
Council (FEC).
Oniha, in an interview in Abuja on Saturday in Abuja, added
that the approval of the National Assembly (NASS) was also a prerequisite for
such an appointment.
She said appoint appointment of Transaction Advisers by the
DMO is done in accordance with the provisions of the Public Procurement Act,
2007.
The DMO boss therefore dismissed reports suggesting the
appointment of Transaction Advisers for a potential Eurobond issuance.
“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 NASS.
“This is done in accordance with the provisions of the
Fiscal Responsibility 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,” she
said.
Chapel Hill Denham, was one of the five issuing houses
appointed in 2021 during former President Muhammadu Buhari led government as
Transaction Advisers for Nigeria’s Eurobonds.
The other appointed companies were Citigroup Inc., JPMorgan
Chase & Co., Goldman Sachs Group Inc., and Standard Chartered Bank.
With that set of Transaction Advisers, Nigeria issued a total
of 5.25 billion dollars Eurobonds in 2021. NAN
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