Business
DMO Trades N60bn Bond At Exchange
The Debt Management Office (DMO) said it has traded bond worth N60 billion on the Nigeria Stock Exchange (NSE) since 2006 when the bond market was resuscitated.
The DMO Director-General, Dr Abraham Nwankwo, made this known at the official presentation of Stanbic IBTC Stockbrokers Ltd., as the government stockbroker to NSE in Lagos on Wednesday.
Nwankwo said that the amount was raised through the sale of Over-The-Counter (OTC) bond from NSE.
He said that the essence of appointing the firm as the government’s stockbroker was to ensure a substantial portion of the Federal Government bond was present on the stock exchange.
Nwankwo said that trading of the government’s bond on NSE would be alongside with the OTC bond in recognition of the importance of trading the sovereign bond on the exchange.
The director-general said that the office would ensure active participation of the retail investors, adding that it led to the selection of Stanbic IBTC Stockbroker to take charge.