The Federal Government of Nigeria has appointed three banks as advisers to $1 billion Eurobond sale, with effect from January 2017.
The Minister Finance, Ms. Kemi Adeosun, disclosed that the banks, which are Citigroup, Standard Chartered Bank and Stanbic IBTC, are expected to manage any follow-up Eurobond issuance for Nigeria over the next three years so as to cut short the tendering process.
Federal Government began the process of appointing banks for the Eurobond sale in September and had said it wanted to issue the bond by the end of the year.
Adeosun said, “a fully competitive open tender process was carried out before the appointments. The $1 billion Eurobond programme is part of funding for 2016 budget and we hope to be able to commence the process in January.”