President Muhammadu Buhari has approved the reappointment 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.

 

 A statement released on Thursday by his Senior Special Assistant on Media and Publicity, Garba Shehu, said the renewal takes effect from July 1, 2022.

 

Shehu said 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.

 

“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,” he added.