Saturday, July 08, 2017 8.00am/Proshare WebTV
Nigeria’s leading Debt Capital Market, the FMDQ OTC exchange yesterday led market stakeholders, to honour the outgoing Director-General of the Debt Management Office Dr. Abraham Nwankwo for a decade meritorious service.
Dr Abraham Nwankwo who served from July, 2007 to June 2017, worked tirelessly for the growth of the financial market and development of the Nigerian economy.
Vice-Chairman of the FMDQ Mr Jubril Aku in his opening remarks at the event described Dr Nwankwo as a pacesetter, who contributed immensely to the deepening of the debt capital market, especially the FMDQ OTC.
Mr Aku commended Dr Nwankwo for finishing well and lauded him, for mobilizing efforts that led to the issuance of bonds, like the FGN savings bonds and driving initiatives that transformed the market.
In a one-on-one session anchored by the MD/CEO of FMDQ OTC Mr Bola Onadele, Dr Abraham Nwankwo shared that he was fortunate to have a solid team at the Debt Management Office, which made his work easier.
He urged Nigerians to give their best in their service to the country, in all their endeavours.
Speaking further he said “The next 3 years will be critical for Nigeria, if there is alignment between the political and economic structures focused on growth and recovery, Nigerian will come out stronger”.
Dr Nwankwo thanked his family, friends, colleagues, staff, stakeholders in the market and the media for all the support throughout his 10-year tenure as DG of the DMO.
Under the tenure of Dr Abraham Nwankwo, Nigeria witnessed a comprehensive & accurate national debt database, launch of FGN bond auctioning system, FGN bond liquidity through the Primary Dealers Market Makers system, about $3.3bl bond accessed from the International capital markets and first-ever domestic listing of FGN savings bond.
The Abraham-Nwankwo led DMO also promoted transparency in data, which boosted confidence in Nigeria’s sovereign debt market and also unveiled innovative and pioneer products like FGN savings bonds, FGN Sukuk, FGN Dollar bond and FGN Green bond.
Ms Pat Oniha the new Director General of the Debt Management Office , succeeding Dr Nwankwo will resume office on Monday the10th of July, 2017.