The Federal Government of Nigeria has again demonstrated its commitment to honouring its debt obligations as and when due by the redemption of the USD300 million Diaspora Bond which matured on June 27, 2022.
In a statement on Wednesday, the Debt Management Office said the Diaspora Bond was issued on June 27, 2017, for a tenor of five (5) years in the International Capital Market and the proceeds were used to partly finance the deficit in the 2017 Appropriation Act.
In addition to the objective of raising funds for the Government, it was an initiative to avail the Nigerian Diaspora the opportunity to invest in their home country.
DMO said with the redemption of the USD500 million Eurobond in January 2021 and recently, the USD300 million Diaspora Bond, the FGN had increased investors’ confidence in its commitment and ability to fulfill its debt obligations at maturity thereby reinforcing its presence in the International Capital Market.
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