₦airaland Forum

Harbosede02: guess we've sorted dis awt already?

DMO to encourage sukuk bond in Nigeria

JULY 7, 2014 BY FEMI MAKINDE
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The Director-General, Debt Management Office, Dr. Abraham Nwankwo, has said that the office is working to introduce sukuk bond to all the states.

Osun State had last year raised N11.4bn sukuk, an Islamic bond, and the State Governor, Rauf Aregbesola, came under attack for this.

But according to a statement made available to our correspondent in Osogbo on Sunday by the media aide to the governor, Mr. Semiu Okanlawon, the director-general of the DMO has commended the governor for being a trailblazer in this regard.

The DMO director-general promised to encourage sukuk issuance in Nigeria.

The statement also quoted Nwankwo to have said that Osun debt profile was a sustainable one and was healthy for the economic growth of the state.

Nwankwo, according to the statement, spoke on the sideline of a three-day retreat for members of the House Committee on Aids, Loans and Debt Management.

Nwankwo said, “It is our plan to encourage the issuance of sukuk in Nigeria because we need to diversify the instrument in the bond market.

“We want to make sure that all segments of the society is captured in the bond market because there are some groups of people or individuals who do not want to participate in ordinary bond because of interest.

“Our office, DMO, and others are working hard to introduce sukuk in Nigeria. We are delighted that Osun took the initiative and helped in introducing it in Nigeria. So, Osun is one of the best states in public debt management.”

The opposition parties in Osun State had been claiming that Osun debt profile ranged between N350bn and N419bn.

But Nwankwo who did not give the figure on the actual debt explained that the state needed to be encouraged in term of the management of debt because it had not borrowed beyond its capacity.

According to the director-general, the nation’s debt GDP ratio has fallen from 22 per cent to 13 per cent.

He said, “Our debt is sustainable because the GDP is much lower now. However, in spite of that, government will continue to be very prudent, conservative in its spending.

“From my submission, I told the lawmakers that the GDP ratio is about 12 per cent and this includes both external and domestic debt for both the federal and state governments.”

He decried what he described as the poor attitude of Nigerians to paying tax.

He stated that many enterprises in the country’s small and medium scale businesses that should be in the tax bracket were not.

Harbosede02: Op,permit me to say this...U ARE MAD.


Go ahead and disown them na,na anoda person papa go be ur fada abi??dunno y sum pple are so daft,did u jst say u will graduate soon??gosh!u beta go and resit 4 common entrance....ur family will always be ur family,no 1 can eva replace them,tot there is an adage dat says blood is thicker dan water.....i guess urz is lighter dan water.

ShirelleBaby: I walk away and switch off my fone till am satisfied!!and if he doesn't make extra effort in apologising-the love wanes and I might fall prey into already waiting arms

berem: Lolz! If possible,more days should be declared for fasting and prayers to make sure the impeachment doesn't happen.

berem: no one is getting impeached. All na wash!

berem: Its going to one month I have been hearing this threat to impeach Nyako. They should impeach him if they have the guts. Why the delay?

nwanna89: How many ppl have the time to do that kain research to find out who wears that cap...not a very good campaign strategy in my opinion

mzmariah:

#Bringbackmymoniker#

electropiz: it depends i did @ 200l

mzmariah: So you finally hacked my account

mzmariah: Dear mz mariah,

This is to inform you that your username has been changed to mzmariah.
We apologize for any inconvenience this might cause you.

Best Regards,
Nairaland Forum Team


Seun please I want to know if the mail I posted above is authentic and if it is, I want to know why my moniker was changed.

numericalguy: Word!

@ bolded: to be managed by a B.Sc. holder who earns like five times what HNDs earn and with prospects of making it to top management.

donstein: never can it be said clearer! I went through the polytechnic and remember a course we did in our 300levels "engineer in society" it clearly spell out the role of a technologist n and engineer, as an engineer ie a uni-grad. Its role is to carry out research and d polylite is to put life into the researched work of d uni-grad simply put, so please whats the tussel all about? see it that those engaging is such shouting need to go back to school for proper learning! Gbam!!!

Downtoearth: Like the Super Eagles,they need a sound technical tactician.

Dygeasy: ROTFL

donphilopus: That's our Deputy Speaker, Emeka Ihedioha. How does he expect people who are not privileged/opportuned to see him put on the cap in session know what the cap stands for?!

GPA5: JAMB STATISTICS CAN'T BE USE AS A YARDSTICK IN GAGGING QUALITATIVE EDUCATION?

Obiagelli: APC seems unwilling to try new skills. They are
behaving like soccer teams who play Brazilian style
of football against Brazil. Nothing could be more
foolhardy.

Odenigbo Aroli: I know everybody think the logo designers could do better but our wise men has adopted this very logo and we will stand by them.

Anambra is on a very aggressive rise and we wanna support our leaders.....

Anambra must lead!

shadrach77: me too!