Finance

Buhari reappoints Oniha as DG, DMO

DMO raises N1.2bn as March savings bond offer opens

The President, Major General Muhammadu Buhari (retd.), on Thursday, approved the renewal of the appointment of Patience Oniha as the Director General of the Debt Management Office for a second term of 5 years in accordance with Section IV (9-i) of the Debt Management Office (Establishment ETC) Act, 2003.

According to a statement signed by his Senior Special Assistant on Media and Publicity, Garba Shehu, the renewal takes effect from July 1, 2022.

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The statement is titled ‘President Buhari re-appoints Patience Oniha as DG, DMO.’

According to Shehu, Oniha’s appointment for a second term was based on “the significant achievements recorded by the DMO in the last 5 years, under her leadership. Amongst the achievements are the introduction of Sukuk and Green Bonds to finance the development of infrastructure where there is a huge gap.

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“Under her watch, as part of the initiatives to improve the sustainability of the public debt and opening up avenues for raising long term funds for corporates, the DMO introduced long term Bonds with tenors of 30 years in the domestic and international markets.”

“This is aside from attracting diverse investors including retail investors to the FGN Bond Market. Internally, Oniha introduced reforms to strengthen the DMO, as a critical agency in the public finance ecosystem of the country,” the statement added.

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