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DMO speaks on Chapel Hill Denham, Nigeria’s $1bn Eurobond deal .

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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).

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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