| Bonds & Fixed Income |    1651 VIEWS  |
| Bonds & Fixed Income | |
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Wednesday,
May 13, 2020 / 04:58 PM / By DMO / Header Image Credit: Shuttershock
In line
with the provisions of the Debt Management Office (Establishment, Etc.) Act,
2003, Section 33, which empowers the Debt Management Office (DMO) to issue
Guidelines for the effective implementation of its functions, the DMO has
released the Revised External and Domestic Borrowing Guidelines for the Federal
Government, State Governments, and the Federal Capital Territory (FCT), and
their Agencies. A review of the Guidelines (which was last issued in the year
2012), became necessary to reflect recent developments in the fiscal operations
of Government, especially in the area of Public Debt Management.
The
Guidelines are derived from provisions in extant legislations, principal of
which are: The Constitution of the Federal Republic of Nigeria, 1999 (as
amended), the Debt Management Office (Establishment, Etc.) Act, 2003, the
Fiscal Responsibility Act, 2007, and the Investments and Securities Act, 2007.
The Guidelines also incorporate provisions in the Fiscal Sustainability Plan - Fiscal Framework for Sub-National Governments in Nigeria.
Through
the Issuance of this revised Guidelines, the DMO has provided a useful manual
that serves to clarify the process for borrowing, requirements, compliance and
documentation, as well as, debt transparency.
Download Here - The Revised External and Domestic Borrowing Guidelines
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