ABUJA — The Federal Government has signed a N728.9 billion Series 2 power sector bond to settle debts owed to electricity generation companies. It consists of N402 billion in cash bonds and N326.9 billion in non-cash bonds, and 11 generation companies took part. With the N501 billion Series 1 bond issued in January, the government has raised N1.23 trillion in nine months towards clearing about N4 trillion in obligations. Finance Minister Taiwo Oyedele said the bond programme cannot stand alone and must be backed by sector reforms.