$1bn Eurobond well utilised – Sambo
Vice President Mohammed Namadi Sambo said the proceeds from the $1 billion Euro bond issued last year have been well utilised.
Sambo stated this at the State House in Abuja, during the 15th supervisory board meeting of Debt Management Office (DMO).
The vice president, who is also the chairman of the board, said the proceeds would impact positively on the growth
the of the nation’s economy.
According to him, the proceeds will provide the much needed funds for power generation, distribution and transmission as well as agriculture, gas and aviation sectors.
At the meeting, the board ratified the appointment of an external auditor, Messrs Sada Idris & Company, for the financial operations of the DMO following the expiration of the tenure of the current external auditors.
Earlier, DMO Director- General Abraham Nwankwo briefed the meeting on the utilisation of the proceeds from the Eurobond which, he said, was being disbursed to targeted sectors of the economy as ordered by the government.
Nwankwo assured that the DMO would continue to ensure effective management of the country’s debt profile.
He commended President Goodluck Jonathan and Sambo for their commitment to the success of the activities of the DMO.