Connect with us

Business News

Nigerians can apply for forex online as CBN deploys e-Form ‘A’

Published

on

CBN1 e1630582471559.webp

“For the avoidance of doubt, all established hard copies of Forms ‘A’ for which disbursement had not been made within the transition period of 15 working days shall be deemed cancelled.

“All authority dealer banks are enjoined to inform their customers of the development for compliance.”

Advertisement

The introduction of the e-Form A is just another of several initiatives of the CBN to ensure the easy accessibility of forex and related services to Nigerian bank customers.

Source: NairaMetrics

Advertisement

Business News

DMO Lists $4bn Eurobond on FMDQ Securities Exchange

Published

on

By Aduragbemi Omiyale

The $4 billion Eurobond issued by the federal government of Nigeria has been listed on the FMDQ Securities Exchange, Business Post has learned.

The debt securities were issued by the Nigerian government and sold to offshore investors by the Debt Management Office (DMO).

Advertisement

In a statement dated Tuesday, January 25, 2022, the debt office noted that the bonds would also be listed on the Nigerian Exchange (NGX) Limited to provide “a diversified pool of financial offerings for investors.”

Last September, the DMO sold the $4 billion Eurobond in three tranches of 7 years of $1.25 billion due September 2028 at 6.125 per cent, 12 years of $1.50 billion due September 2033 at 7.375 per cent and 30 years of $1.25 billion due September 2051 at 8.250 per cent.

It was observed that the subscription level for the Eurobond was $12.2 billion, making it one of the continent’s most successful financial transactions of 2021.

The paper was sold to raise funds for the implementation of the 2021 Appropriation Act and it subsequently boosted the external reserves of the nation.

Advertisement

“The Debt Management Office (DMO) listed the $4 billion Eurobond issued by the Federal Government of Nigeria (FGN) on the FMDQ Securities Exchange on January 25, 2022.

“It will be recalled that the Eurobond was issued on September 28, 2021, as part of the fund-raising for the implementation of the 2021 Appropriation Act. In order to manage the liability profile, it was issued in three (3) tranches of 7 years, 12 years and 30 years.

“The subscription level for the Eurobond was $12.2 billion, making it one of the continent’s most successful financial transactions of 2021.

“The Eurobond issuance shored up Nigeria’s foreign reserve, led to the appreciation of the Naira and provided significant capital to finance various projects across Nigeria under the 2021 Appropriation Act.

Advertisement

“The Eurobond will also be listed on the Nigerian Exchange Limited. The listing on these two securities exchanges will enlarge their scope while also providing a diversified pool of financial offerings for investors,” the notice from the DMO stated.

Continue Reading

Business News

DMO Lists $4bn Eurobond on FMDQ Securities Exchange

Published

on

By Aduragbemi Omiyale

The $4 billion Eurobond issued by the federal government of Nigeria has been listed on the FMDQ Securities Exchange, Business Post has learned.

The debt securities were issued by the Nigerian government and sold to offshore investors by the Debt Management Office (DMO).

Advertisement

In a statement dated Tuesday, January 25, 2022, the debt office noted that the bonds would also be listed on the Nigerian Exchange (NGX) Limited to provide “a diversified pool of financial offerings for investors.”

Last September, the DMO sold the $4 billion Eurobond in three tranches of 7 years of $1.25 billion due September 2028 at 6.125 per cent, 12 years of $1.50 billion due September 2033 at 7.375 per cent and 30 years of $1.25 billion due September 2051 at 8.250 per cent.

It was observed that the subscription level for the Eurobond was $12.2 billion, making it one of the continent’s most successful financial transactions of 2021.

The paper was sold to raise funds for the implementation of the 2021 Appropriation Act and it subsequently boosted the external reserves of the nation.

Advertisement

“The Debt Management Office (DMO) listed the $4 billion Eurobond issued by the Federal Government of Nigeria (FGN) on the FMDQ Securities Exchange on January 25, 2022.

“It will be recalled that the Eurobond was issued on September 28, 2021, as part of the fund-raising for the implementation of the 2021 Appropriation Act. In order to manage the liability profile, it was issued in three (3) tranches of 7 years, 12 years and 30 years.

“The subscription level for the Eurobond was $12.2 billion, making it one of the continent’s most successful financial transactions of 2021.

“The Eurobond issuance shored up Nigeria’s foreign reserve, led to the appreciation of the Naira and provided significant capital to finance various projects across Nigeria under the 2021 Appropriation Act.

Advertisement

“The Eurobond will also be listed on the Nigerian Exchange Limited. The listing on these two securities exchanges will enlarge their scope while also providing a diversified pool of financial offerings for investors,” the notice from the DMO stated.

Continue Reading