
The federal government Wednesday in Abuja said its proposed $2.5 billion Eurobond already approved by the National Assembly would yield N762.5 billion proceeds for the refinancing of treasury bills. According to the government, the deal would result in annual savings of N64 billion.
The Debt Management Office has released a statement explaining the $2.5 billion external financing arrangement. The agency said the loan is not a new incremental debt.
Read the full statement below.
The proposed move is to help refinance the country’s maturing domestic debts and re-balance Federal Government debt portfolio, the Debt Management Office, DMO, said. It is not a new or incremental debt because it...