From Cross Udo
President Muhammadu Buhari has approved the renewal of the appointment of Patience Oniha as the Director-General of the Debt Management Office (DMO) for the second term of five years.

A statement issued by the Senior Special Assistant to the President on Media and Publicity, Mallam Garba Shehu, said the re-appointment was in accordance to Section IV (9-i) of the Debt Management Office (Establishment ETC) Act, 2003.

The statement further said that the renewal takes effect from July 1, 2022.

“Her appointment for a second term was based on the significant achievements recorded by the DMO in the last 5 years, under her leadership.

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“Amongst the achievements are the introduction of Sukuk and Green Bonds to finance the development of infrastructure where there is a huge gap. Under her watch, as part of the initiatives to improve the sustainability of the public debt and open 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, “ the statement said.

It further added, “Internally, Oniha introduced reforms to strengthen the DMO, as a critical agency in the public finance ecosystem of the country.”