The Debt Management Office (DMO) has dismissed reports claiming that the federal government of Nigeria spent N611.71 billion in March 2025 servicing its first-ever U.S. dollar-denominated bond issued in the domestic capital market.
![](https://thenigerialawyer.com/wp-content/uploads/2025/05/idrinstitute.png")
In a statement issued yesterday, the DMO explained that the figure had been wrongly attributed, stressing that N611.71 billion represented the debt service for all outstanding federal government of Nigeria (FGN) bonds, excluding the U.S. dollar bond.
“The statement is wrong in its entirety. The figure published by the DMO on its website for Q1 2025 as debt service on the U.S. dollar-denominated bond was N67.988 billion and not N611.71 billion,” the DMO said.
The agency clarified further that its publications show the distinction between the two figures. “For the avoidance of doubt, the Q1 2025 Domestic Debt Service figure published on the DMO’s website for Federal Government of Nigeria Bonds in the month of March 2025 was N611.71 billion. In the same report and on a separate line, the debt service for Domestic FGN U.S. Dollar Bond for March 2025 was N67.988 billion,” it stated.
The DMO also addressed claims of principal repayment on the bond, noting that no such payment has been made. “Contrary to some claims, no amount was repaid as principal repayment on the U.S. dollar bond. The bond is to be repaid in full at maturity in 2029,” it said.
The publishing firm has produced an impressive catalogue of authoritative legal texts authored by its proprietor, Basil Momodu, Esq.,
For inquiries, contact:
📧 momodulawpublishing@yahoo.com
📞 07051822705
______________________________________________________________________
“Your Must-Have Legal Classic” — 225-Page Hardback Offering The Definitive Guide To Electoral Security In Nigeria And The U.S.
Edited by Dr. Akin Olawale Oluwadayisi, Ph.D; ACIArb, FIPDM, Notary Public, Awi Boluwaji, and Olumide Awoyemi, LL.M, Price: ₦20,000 or $20 per copy
Order Your Copy Now:📧 Email: benakollegalclassics@gmail.com,📱 WhatsApp: 07038211889, 📞 Voice Call: 07065830466 | +2347038211889
______________________________________________________________________
“Timely And Groundbreaking” — Babalola, Nnawuchi Release Casebook On Privacy & Data Protection In Nigeria
A timely new publication, Casebook on Privacy & Data Protection in Nigeria, co-authored by Olumide Babalola and Uchenna Nnawuchi, 📘Casebook on Privacy & Data Protection in Nigeria is now available on Amazon: https://a.co/d/8TmFZrd
______________________________________________________________________
Groundbreaking Guide For Lawyers: Adigwe Publishes ‘Artificial Intelligence For Lawyers’ With Free Research eBook
Authored by Ben Ijeoma Adigwe Esq., ACiarb (UK), LL.M, Dip. in Artificial Intelligence, Director at the Delta State Ministry of Justice, Asaba, Nigeria.
How to Order:
📞 Call, Text, or WhatsApp: 08034917063 | 07055285878
📧 Email: benadigwe1@gmail.com
🌎 Website: www.benadigwe.com
Ebook Version: Access it directly online at https://selar.com/prv626
______________________________________________________________________
Alexander Payne Co. Law Reports
Contact & Orders 📞 0704 444 4777 | 0704 444 4999 | 0818 199 9888 🌐 www.alexandernigeria.com
______________________________________________________________________
The books are available for purchase at:
Online: www.educodex.com | www.selar.com | www.amazon.com | www.mikeozekhome.com
Enquiries: +234 704 044 9375 | +234 814 813 4773 | +234 816 872 3532
Email: educodexl@gmail.com
______________________________________________________________________
Explore Nigeria’s Constitutional System — 17 Chapters, 924 Pages Of Insight By Prof. Hagler Sunny Okorie
