Elementary concept in Islamic Banking dates back to the mid-1940s. Comprehensive details appeared in the late 1960’s. The first experiment was set up undercover in MitGhamr Egypt, 1963 (the model was German Savings bank modified with Islamic principles. Islamic Development Bank was established in...

The Debt Management Office (DMO) has announced the commencement of a global offering of Nigeria’s first Diaspora Bond. DMO made this known in a statement, the News Agency of Nigeria, said on its website. It said the nation has filed a registration statement for the bonds...

The size of Federal Government’s loans has reflected on the debt servicing expenses as it spent N474.06 billion to service domestic debts in the first three months of this year. Statistics obtained from the Debt Management Office in Abuja on Wednesday showed that the country...

The Debt Management Office (DMO) Monday revealed that Nigeria’s total debt stock increased to N19.15 trillion at the end of first quarter 2017, from the N17.36 trillion at the end of last year. According to the DMO, the external component of the country’s debt stood...

The Director-General, Debt Management Office (DMO) Abraham Nwankwo stated in Kano that the newly introduced Federal Government of Nigeria Savings Bond is designed to empower Nigerians across board with the financial capacity to acquire and live better lives. Nwankwo who spoke to representatives of business...

Amid attempts by the country to borrow more from external sources, Nigeria has in the past five years spent $1.62bn to service its external debts that include loans secured for what turned out to be white elephant projects, EVEREST AMAEFULE writes. In the past five...