What is the Imo State Debt Management Office law?
Answered by Adaure AI from official Imo State records · last updated
The Imo State Debt Management Office was established by Law No. 6 of 2021, which commenced on the 29th of June, 2021 (Imo State Debt Management Law 2021, pp. 1, 3). This legislation provides for the creation of the Imo State Debt Management Office to manage the state's internal and external debts, handle debt issuance programmes to finance capital budgets or public investment projects, and restructure existing debts (Imo State Debt Management Law 2021, pp. 2, 5).
Sources
The passages this answer was drawn from.
Imo State Debt Management Law 2021, page 1
“IMO STATE OF NIGERIA LAW NO. 6 OF 2021 IM O STATE DEBT MANAGEMENT (ESTABLISHMENT) LAW, 2021 ARRANGEMENT OF SECTIONS Long Title Enactment PART I – PRELIMINARY PROVISIONS 1. Citation 2. Interpretation PART II: ESTABLISHEMENT OF THE IMO STATE DEBT MANAGEMENT OFFICE 3. Establishment of the Imo State Debt Management Office 4. Establishment and Composition of the Board 5. Tenure of Office and Allowances of Members of the B…”
Imo State Debt Management Law 2021, page 5
“A5 I.S.N. Imo State Law No. 6 of 2021 Debt Management Office (Establishment) Law "Sinking Fund" means a specific fund established whenever it is necessary to do so in connection with a particular issue of instruments into which contributions will be made from the Consolidated Debt Service Account in accordance with the terms and conditions of issue of the particular instrument; "State" mean Imo State of Nigeria; "The…”
Imo State Debt Management Law 2021, page 3
“A3 I.S.N. Imo State Law No. 6 of 2021 Debt Management Office (Establishment) Law IMO STATE OF NIGERIA LAW NO. 5 OF 2021 A LAW TO PROVIDE FOR THE ESTABLISHMENT OF THE IMO STATE DEBT MANAGEMENT OFFICE AND FOR OTHER RELATED MATTERS. Long Title BE IT ENACTED by the House of Assembly of Imo State of Nigeria as follows – Enactment PART I – PRELIMINARY PROVISIONS 1. This Law may be cited as the Imo State Debt Management Off…”
Imo State Debt Management Law 2021, page 8
“A8 I.S.N. Imo State Law No. 6 of 2021 Debt Management Office (Establishment) Law provide advice on policies and procedures for their management; (m) establish and maintain relationships with international and local financial institutions, creditors and institutional investors in Government debts; (n) collect and collate data on debt management and disseminate information with the approval of the Board; (o) advise and…”
Imo State Debt Management Law 2021, page 2
“A2 I.S.N. Imo State Law No. 6 of 2021 Debt Management Office (Establishment) Law 20. Borrowing by the State 21. Government Guarantee, etc 22. Internal Borrowing 23. Approval for Grants or Loans 24. Execution of Loan Agreements 25. Limitation of Suit against the Office etc 26. Monetary Judgment against the Office to be paid from Fund of the Office 27. Transitional Provisions etc 28. Repeal of Law No. 4 of 2016”
Imo State Debt Management Law 2021, page 4
“A4 I.S.N. Imo State Law No. 6 of 2021 Debt Management Office (Establishment) Law "Debt" includes domestic and internal debts; "Director-General" means the Director-General of the office appointed in accordance with section 10 of this Law; "Executive Council" means the Executive Council of the Imo State Government comprising the Governor, the Deputy Governor, the Commissioners appointed by the Governor and such other …”
Imo State Debt Management Law 2021, page 11
“A11 I.S.N. Imo State Law No. 6 of 2021 Debt Management Office (Establishment) Law (2) The management team will under the direction of the Director-General, be responsible for the implementation of the policies of the Board and the day to day administration of the Office. 15.(1) There is established for the Office, a Fund from which all expenses incurred by the office will be defrayed. Establishment of a Fund for the …”
Imo State Debt Management Law 2021, page 14
“A14 I.S.N. Imo State Law No. 6 of 2021 Debt Management Office (Establishment) Law Commission subject to any terms and conditions which it deems fit. (c) with the approval of the Executive Council, determine any other form of securities that may be created, issued or floated to achieve the debt management objectives of the Governor; (d) maintain a record of all guarantees by the Government of any authorized loans take…”
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