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Buhari retains Oniha as DG Debt Management Office

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President Muhammadu Buhari has retained the services of the current Director General (DG), Debt Management Office (DMO), Patience Oniha.

The President gave the approval of the renewal her appointment on Thursday 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 signed by the Senior Special Assistant on Media and Publicity to the President, Garba Shehu, stated that the renewal takes effect from Friday, July 1st, 2022.

Buhari noted that Oniha’s reappointment was based on the significant achievements recorded by the DMO in the last 5 years, under her leadership.

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It recorded that amongst the achievements are the introduction of Sukuk and Green Bonds to finance the development of infrastructure where there was a huge gap that needed to be filled.

The statement partly reads, “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,” the statement stated.