$1bn Eurobond well utilised – Sambo

Daily Trust - - BANKING - By Isi­aka Wak­ili

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.

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