Two Federal Government of Nigeria (FGN) savings bonds have been listed for subscription for the month of July by the Debt Management Office (DMO), according to an announcement by the office on Monday, July 4.
Debt Management Office Director General Patience Oniha reveals how investment in Federal Government of Nigeria securities is profitable and risk-free.
The Debt Management Office (DMO) says it has received 300 successful bids in the recently released Federal Government of Nigeria (FGN) bonds offer which will raise the country’s National Debt Profile by more than N225 billion, outside the cost of servicing same.
President Buhari, determined to borrow away Nigeria’s future, has written to the House of Representatives to seek an increase in the 2022 budget deficit to be financed through borrowing from the domestic market.
Nigeria has once again exhibited its insatiable appetite for debt by officially raising 1.25 billion dollars through the issuance of a 7-year Eurobonds in the International Capital Market (ICM), thereby increasing its national debt profile.
Atiku said: “Again, I warn that Nigeria is facing a crisis, and we cannot continue to keep up appearances by taking out more loans to prop up our economy. That will amount not just to robbing Peter to pay Paul, but to robbing our children to pay for our own greed!”