The Debt Management Office (DMO) from the presidency has appointed 13 financial institutions to play the role of primary dealers and market makers in respect of the Federal Government of Nigeria’s bonds.
The financial institutions selected comprised of 10 banks. Bonds are securities issued by the Federal or state governments to raise long-term funds from the capital market for developmental projects. This has taken effect from August 1, 2018.
The 10 banks appointed are:
- Access Bank Plc
- Citibank Nigeria Ltd
- Coronation Merchant Bank Ltd
- Ecobank Nigeria Ltd
- FBNQuest Merchant Bank Ltd
- First Bank of Nigeria Ltd
- First City Monument Bank Plc
- FSDH Merchant Bank Ltd
- Guaranty Trust Bank Plc
- Stanbic IBTC Bank Plc
- Standard Chartered Bank Nigeria Ltd
- United Bank for Africa Plc
- Zenith Bank Plc.
