By Agency Reporter

Thursday, 2 Dec 2010

Some financial experts have advised the Federal Government to use revenues derived from bonds judiciously.

The News Agency of Nigeria reports that the Debt Management Office has been issuing bonds more frequently than hitherto in its bid to raise revenues and develop the local bonds market.

The experts, who spoke separately with NAN in Lagos on Tuesday, made their observation against the backdrop of the new N70bn FGN Bond just issued by the DMO.

A lecturer in the Department of Economics, University of Lagos, Dr. Adebayo Ogundairo, said that revenues from bonds, if well used, could save the depletion of the country’s foreign reserves.

He said that the bonds could also open up the Nigerian economy and make the country a financial hub in Africa, in view of the rising interest of foreigners in the FGN bonds.

 

Source: Punch