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Nigeria : OYO AND KADUNA STATES names Sterling Bank as receiving bank for their BOND ISSUES

August 5, 2014

The governments of Oyo and Kaduna States has nominated Sterling Bank Plc as receiving bank for their bond issuance programmes.

It is projected by Oyo State to lift up N5 billion, while Kaduna State is raising the sum of N15 billion to enable them execute developmental projects in their domains.

The option of the Sterling Bank may have been determined by its track record in collections.

According to Olalusi, The "bank's adherence to rules as specified by the regulatory authorities based on antecedents, transparency and professional service delivery in a timely manner also stood it out as a financial institution of choice for the programme.The antecedent of Sterling Bank in this business is unparalleled. This business is all about experience, deep understanding of the terrain, sincerity and trust. Sterling Bank has demonstrated all these qualities in similar transactions. The issuing houses also look out for banks with rich experience in the business and they are comfortable with Sterling Bank based on our past experience".

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Source: TendersInfo (India)

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