FG bars cash payment for $500m domestic bond
FG bars cash payment for $500m domestic bond The Debt Management Office of the Federal Government has begun accepting bids for its $500 million dollar-denominated domestic bond. It was issued with a five-year tenor and a 9.75 percent annual interest rate with a maturity date of 2029. This was due to the fact that it prohibited potential investors from paying for their investments with cash. Start an Oil and Gas business in Nigeria with Oil Companies in USA “Payment shall only be made through the banking system and electronic transfers into the designated accounts. No cash deposits will be accepted under this transaction, except where such cash deposits have been made into the domiciliary account for not less than 30 days before the date of this offer,” the statement posted on its website stated on Monday. Wale Edun, the Coordinating Minister of the Economy and Minister of Finance, declared last week that the $500 million Series 1 domestic dollar bond auction would take plac...