Close Menu
Chronicle.ng
    Trending Stories
    PDP leadership must sanction Wike, North-East group demands

    Wike criticises Amaechi, says ex-minister is ‘hungry for power, not food’

    June 2, 2025
    Eid-ul-Adha: FG declares Friday, Monday public holidays

    Eid-ul-Adha: FG declares Friday, Monday public holidays

    June 2, 2025
    Catholic Church shuts over 15 parishes in Benue following deadly herdsmen attacks

    Catholic Church shuts over 15 parishes in Benue following deadly herdsmen attacks

    June 2, 2025
    Facebook X (Twitter) Instagram
    Trending
    • Wike criticises Amaechi, says ex-minister is ‘hungry for power, not food’
    • Eid-ul-Adha: FG declares Friday, Monday public holidays
    • Catholic Church shuts over 15 parishes in Benue following deadly herdsmen attacks
    • NiMet forecasts nationwide thunderstorms, rainfall from Monday to Wednesday
    • 66 Nigerians secure Antiguan citizenship for $6.6m
    • Police nab robbery suspects, recover stolen vehicles in Anambra
    • Take It Back Movement protests insecurity, economic hardship on June 12
    • Musk unveils XChat with encrypted calls, file sharing
    Facebook X (Twitter) Instagram
    Chronicle.ngChronicle.ng
    Subscribe
    Monday, June 2
    • News
      • Nigeria News
      • World News
      • Headlines News
    • Politics
    • Business
    • Sport
    • Entertainment
    • Contact Us
    Chronicle.ng

    Nigeria asks Goldman, Stanbic to help sell “diaspora bond”

    Chronicle EditorBy Chronicle EditorJanuary 30, 2017No Comments2 Mins Read
    Facebook Twitter Telegram WhatsApp
    Four bonds valued at N360 billion reopens for auction - FG
    Facebook Twitter WhatsApp
    President Muhammadu Buhari of Nigeria has appointed Goldman and Standard Bank to help sell country’s Diaspora Bond

    Nigeria has asked Goldman Sachs and the local unit of South Africa’s Standard Bank to advise it on the sale of a debut “diaspora bond” targeted at Nigerians living abroad, Stanbic IBTC Bank said on Monday.

    Such bonds are a form of government debt that targets members of the national community abroad and Africa’s biggest economy first announced plans to sell them in 2013 to raise between $100 million to $300 million.

    Goldman Sachs and Stanbic were due to manage the sale at the time, but the government then did not appoint any bookrunners before an election in 2015 that brought President Muhammadu Buhari to power.

    Nigeria is in its first recession in 25 years and needs to find money to make up for shortfalls in its budget.

    Low prices for crude and militant attacks in its oil-producing heartland, the Niger Delta, have slashed its revenues.

    A finance ministry source told Reuters this month that the country will look to issue a diaspora bond after completing a $1 billion eurobond sale.

    According to berkerly.edu, Diaspora Bonds are an inexpensive way for governments to raise funds.

    Dilip coins a term, “Patriotic discount”, to account for the phenomenon where governments have been able to sell bonds to investors abroad and succeeded as result of patriotism.

    Diaspora communities tend to remain loyal to their countries of origin.

    They can provide much needed long-term deposits that can be a stable source of currency that can be used for development projects.

    Share. Facebook Twitter Telegram WhatsApp

    Keep Reading

    NCGC: Things to know about FG's credit guarantee company 

    NCGC: Things to know about FG’s credit guarantee company

    Tinubu slashes oil project costs

    Tinubu slashes oil project costs

    NNPCL shutdown Port Harcourt refinery for maintenance

    NNPCL shutdown Port Harcourt refinery for maintenance

    President Tinubu inaugurates new NNPC board in Abuja

    Tinubu charges new NNPC board to drive reforms, boost oil output

    Tinubu slashes oil project costs

    Tinubu approves licenses for multibillion-dollar oil exploration in Bauchi, Gombe

    Senate raises alarm as FG’s electricity debt hits N800bn in 2025

    Senate raises alarm as FG’s electricity debt hits N800bn in 2025

    Add A Comment
    Leave A Reply Cancel Reply

    Subscribe to News

    Be the first to get the latest news updates from ChronicleNG about world, sports, politics etc

    PDP leadership must sanction Wike, North-East group demands

    Wike criticises Amaechi, says ex-minister is ‘hungry for power, not food’

    June 2, 2025
    Eid-ul-Adha: FG declares Friday, Monday public holidays

    Eid-ul-Adha: FG declares Friday, Monday public holidays

    June 2, 2025
    Catholic Church shuts over 15 parishes in Benue following deadly herdsmen attacks

    Catholic Church shuts over 15 parishes in Benue following deadly herdsmen attacks

    June 2, 2025
    NiMet predicts 290 days of rainfall, dry spells across Nigeria in 2025

    NiMet forecasts nationwide thunderstorms, rainfall from Monday to Wednesday

    June 2, 2025
    Nigerians contribute $6.6m via Antigua Citizenship-by-Investment

    66 Nigerians secure Antiguan citizenship for $6.6m

    June 2, 2025
    Facebook X (Twitter) Instagram
    • Politics
    • News
    • Sports
    • Business
    • About Us
    © 2025 ChronicleNG

    Type above and press Enter to search. Press Esc to cancel.