Osinbajo Approves Mrs Patience Oniha As New DMO Boss

The Acting President, Professor Yemi Osinbajo has approved the
appointment of Mrs Patience Oniha as the new Director General of
Debt Management Office (DMO). Minister of Finance Mrs Kemi Adeosun
announced the appointment in Abuja, yesterday.

Oniha, from Edo State, takes over from the former Director
General, Dr Abraham Nwankwo who retired after serving for two terms
of five years each. The handover formalities took place in a brief
ceremony at the office of DMO.

She retired as a director in the agency, served in the
Efficiency Unit of the Ministry of Finance before her recent
appointment as DMO Chief Executive.

The new Director General was part of the success story the
Office achieved in the past 10 years.

During that period, DMO scored a number of firsts in its
operational efforts to manage the country’s debt profile. These
include the establishment of 37 sub-national Debt Management
Departments for the 36 states and the FCT, culminating in the
construction of the first-ever comprehensive and areliable Domestic
Debt Database for all the states and the FCT in 2012; putting in
place Primary Dealing-Market Making (PDMM) system for the FGN
Bonds, enabling two-way quotes in the trading of FGN Bonds and,
therefore, the introduction of a vibrant and liquid Secondary
Market for FGN Bonds; listing of FGN Bonds on the Nigerian Stock
Exchange; inclusion of Nigeria’s Sovereign Bond in Global Market
Indices, the JP Morgan Index and the Barclays Capital Index;
issuing of Nigeria’s Eurobond in the International Capital Market
and its listing and trading on the London Stock Exchange; issuing
of Nigeria’s Sovereign Retail Bonds, the FGN Savings Bond and its
listing on the Nigerian Stock Exchange and on the FMDQ OTC
Exchange.

Others are issuing of Nigeria’s Diaspora Bond and the first-ever
registration of Nigeria to access the Unites States financial
market under the stringent U.S. Securities and Exchange Commission
rules and regulations; designing and implementing Nigeria’s
National Debt Management Framework; Introducing the soon to be
launched first-ever Nigeria’s Sovereign Non-Interest Bearing Bond:
the Sukuk as well as exporting of Public Debt Management services
through capacity-building support to other African countries,
including the Sudan, Zimbabwe, South Sudan, Kenya and Uganda.

Mrs Oniha is expected to consolidate on these achievements.

The Acting President, Professor Yemi Osinbajo has approved the
appointment of Mrs Patience Oniha as the new Director General of
Debt Management Office (DMO). Minister of Finance Mrs Kemi Adeosun
announced the appointment in Abuja, yesterday.

Oniha, from Edo State, takes over from the former Director
General, Dr Abraham Nwankwo who retired after serving for two terms
of five years each. The handover formalities took place in a brief
ceremony at the office of DMO.

She retired as a director in the agency, served in the
Efficiency Unit of the Ministry of Finance before her recent
appointment as DMO Chief Executive.

The new Director General was part of the success story the
Office achieved in the past 10 years.

During that period, DMO scored a number of firsts in its
operational efforts to manage the country’s debt profile. These
include the establishment of 37 sub-national Debt Management
Departments for the 36 states and the FCT, culminating in the
construction of the first-ever comprehensive and areliable Domestic
Debt Database for all the states and the FCT in 2012; putting in
place Primary Dealing-Market Making (PDMM) system for the FGN
Bonds, enabling two-way quotes in the trading of FGN Bonds and,
therefore, the introduction of a vibrant and liquid Secondary
Market for FGN Bonds; listing of FGN Bonds on the Nigerian Stock
Exchange; inclusion of Nigeria’s Sovereign Bond in Global Market
Indices, the JP Morgan Index and the Barclays Capital Index;
issuing of Nigeria’s Eurobond in the International Capital Market
and its listing and trading on the London Stock Exchange; issuing
of Nigeria’s Sovereign Retail Bonds, the FGN Savings Bond and its
listing on the Nigerian Stock Exchange and on the FMDQ OTC
Exchange.

Others are issuing of Nigeria’s Diaspora Bond and the first-ever
registration of Nigeria to access the Unites States financial
market under the stringent U.S. Securities and Exchange Commission
rules and regulations; designing and implementing Nigeria’s
National Debt Management Framework; Introducing the soon to be
launched first-ever Nigeria’s Sovereign Non-Interest Bearing Bond:
the Sukuk as well as exporting of Public Debt Management services
through capacity-building support to other African countries,
including the Sudan, Zimbabwe, South Sudan, Kenya and Uganda.

Mrs Oniha is expected to consolidate on these achievements.