The Debt Management Office (DMO) on Monday listed outstanding N4.85 trillion Federal Government of Nigeria Bonds and quotation of N2.80 trillion Nigeria Treasury Bills (NTB) on the FMDQ OTC platform.
Dr Abraham Nwankwo, DMO Director-General, at the listing in Lagos, said that it was another attestation of the commitment of the government to further develop and deepen the domestic debt market to enhance its performance of the pivotal role of financial intermediation.
Nwankwo said that the listings would generate savings and investments necessary for economic growth and development.
He noted that prior to the establishment of the E-Bond platform by the FMDQ OTC in 2014 the secondary market for FGN securities was done using the Reuters Trading Platform and the ICAP Electronic Trading Community System.
Nwankwo explained that although FGN bonds and NTBs were already listed on the FMDQ E-Bond platform and FGN bonds listed on the Nigerian Stock Exchange, the listing of the outstanding securities would boost liquidity.
He, however, said that listing of these FGN securities on FMDQ OTC was to identify with the laudable initiative of market operators and regulators in introducing the FMDQ E-Bond platform.
According to Nwankwo, the listing will upgrade trading in fixed income securities.
He also pledged the institution’s commitment to comply with the listing requirements, adding that DMO would continue to direct all efforts toward ensuring a vibrant domestic debt securities market in Nigeria.