Lagos pays N141.59 billion to bond holders

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R-L: Mrs Babatunde Adepeju, Director, Debt management Department; Permanent Secretary, Office of Finance, Mrs Olufunmilayo Balogun; M.D. STL Trustees, Funmi Ekundayo; Commissioner for Finance, Mr Akinyemi Ashade and Olufunke Aiyepola, M.D. Union Trustees Limited at the 5th AGM on bond series on Tuesday in Lagos.

By Kazeem Ugbodaga

The Lagos State Government has paid the total sum of N141.59 billion to bond holders in its various fixed rate bond programmes.

The bonds are the Lagos State N80 billion fixed rate programme 2, Series 1 floated in 2012 with a maturity date of 2013; N87.5 billion fixed rate programme 2, Series 2 floated in 2013 with a maturity date of 2020 and N47 billion fixed rate programme 3, series 1 floated in 2016 with a maturity date of 2023.

The figures were revealed on Tuesday at the 5th Annual General Meeting, AGM, between the state government and bond holders…

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