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"The domestic bond market, according to the DMO boss, has not been just for financing government's fiscal deficits, as it served as a platform for issuance of the Asset Management Corporation of Nigeria (AMCON) bonds to buy toxic debts off the balance sheets of Nigeria banks. Proceeds of the domestic bond issuance, he Adidas Neo Shoes Price

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´╗┐llion or 75 per cent the following year; last year, N744. 44 billion or 65 per cent of of the federal deficit was funding domestically; while N544. 06 billion or 61. 33 per cent of this year's deficit is to be sourced from the domestic bond market.

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According to Nwankwo, "the current practice of financing part of the country's fiscal deficits by borrowing from the market has not only led to the development of the domestic debt Adidas Shoes Women White

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Others include "the purchase of locomotives for the revitalisation of rail transportation; and, the provision of seed money for the development o.

a Sovereign Yield Curve and benchmark for private sector borrowing.

market, it has brought other salutary benefits for monetary policy operations and the economy. "These, he continued, include "removal of conflict of interest clear separation of debt management functions from monetary policy operations thereby allowing each agency, especially the CBN, to concentrate on its core mandate; subjecting government's borrowing to Adidas Superstar Gold market discipline; use of long term as against short term funds to finance long term projects a clear case of optimal asset matching; significant reduction in refinancing risks through tenor elongation. "One other benefit, he added, was the "establishment of Adidas Tubular Viral Black

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noted, were also used to fund special government stimulus spending initiatives like the N200 billion commercial agriculture programme, whereby the funds raised by the DMO were made available to the CBN for lending to agriculture enterprises through the commercial banks between 2008 and 2010. Also, proceeds from the issue was used to fund the cotton, textile and garments revitalisation programme, part funding to the tune of N100 billion with FGN bond proceeds.

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