CERPAC SPV SECURITIZATION: DLM Capital Group has redeemed a major part of the CERPAC Receivables Securitization Funding SPV and paid investors involved in the N25 Billion Future Flow Receivables backed Securitization transaction, a total of N20.161Billion. These redemptions were for the Discrete and Series 1 bonds executed by the Group. The CERPAC N25 Billion…
Metro Africa Xpress (MAX) has successfully raised N400 million through a one-year fixed rate series 1 bond, blazing the trails as the first mobility company in Africa to issue a bond. The N400 million series 1 bond was issued under the newly structured N10 billion or $22 million private company bond programme. Despite the challenging…
Metro Africa Xpress (MAX.ng), the leading mobility platform in Nigeria and West Africa, has announced the successful issuance of a N400-million 1-year fixed-rate notes (the N400m Series 1 Bond) under its newly structured N10bn/$22m Private Company Bond programme (PCB Programme). The N400 million Series 1 Bond is MAX.ng’s first-ever bond issuance and the first bond issued…
(IPPIS), The Federal Government saved about N273.8bn through the implementation of the Integrated Personnel and Payroll Information System (IPPIS). The Accountant-General of the Federation, Ahmed Idris, said this at a meeting of Vice – Chancellors, Registrars and Bursars of Federal Universities held in Abuja. The AGF described the IPPIS scheme as one of the Federal…
Apex bank refutes reports on transactions with govt as mischief The Federal Government emerged the highest claimant against the Central Bank of Nigeria (CBN), in a two-way financial activity in the last five years, netting N3.7 trillion. According to a financial transactions obtained from the apex bank, government was the net creditor of CBN in…
A global credit rating agency, Moody’s Investors Service, has said Nigeria is trapped in a low growth path for the time being. The Vice President – Senior Credit Officer, Sovereign, Aurelien Mali, said on Wednesday that government revenue weakness remained a key credit challenge, adding that the country’s balance sheet had “deteriorated to a level…
The Federal Government (FG) will borrow $2.7bn (N824.82bn) from foreign sources in 2019, the Debt Management Office (DMO), has said. In a statement made available to our correspondent in Abuja on Wednesday, the DMO said that the first priority would be to borrow from multilateral and bilateral sources. The balance, it said, would be borrowed…
The Debt Management Office (DMO) has said the Federal Government will auction N100bn worth of bonds by subscription on June 26. A circular by the DMO on Tuesday showed the breakdown of the figure to include an N30bn five-year re-opening bond that would mature in April 2023 and be offered at 12.75 percent; another N40bn…
