1st July, 2010
Vice President Mohammed Namadi Sambo, has charged the Debt Management Office (DMO) to explore potential sources of cheap funds for the national economic growth and development.
He made this disclosure today while chairing the meeting of the DMO Supervisory Board at the State House, Abuja.
The Vice President stated that, ‘the need for potential sources of cheap funds, the amounts available as well as the terms and conditions of such funds which poses a challenge must be surmounted and a strategy evolved for sourcing of funds for national growth and developmentâ€
The DMO is saddled with the responsibility of devising ways of reducing Nigeriaâ€
On the issue of the promotion of staff, the meeting advised that it should wait until the full appraisal of staff exercise currently ongoing is completed in the organization.
The DMO had at a recent forum in London presented FGN Bonds to Nigerians in the United Kingdom with the aim of broadening the investor base for the bond market. Such interaction with Nigerian professionals who participated at the forum, afforded the DMO the opportunity of meeting with registered Primary Dealer Market Makers (PDMMs). The DMO intends to organize similar fora in other countries with high concentration of Nigerians.
The ongoing Debt Data Reconstruction exercise in the 36 states of the federation is targeted at equipping the officers of the DMUâ€
Those at today meeting include the Minister of Finance, Mr. Segun Aganga, Director General, DMO, Mr. Abraham Nwankwo, Solicitor General, Federal Ministry of Justice, Mr. Abdullahi Ahmed Yola, and Accountant General of the Federation, Mr. Ibrahim Dankwambo, Director General, CBN, Mr. Suleiman Bardu and Director, DMO, Mrs. A. M. Mohammed.