Amidst prevailing uncertainties and a tightening monetary policy, the Debt Management Office (DMO) conducted the Federal Government of Nigeria Bond Auction for August on Monday, August 14, 2023.....KINDLY READ THE FULL STORY HERE▶

During the auction, four instruments (14.55 percent FGN April 2029, 14.70 percent June 2033, 15.45 percent Federal Government June 2038, and 15.70 percent FGN June 2053) were made available to investors, with each instrument having an offering of N90 billion….CONTINUE READING

Despite the current market conditions, the auction received an impressive total subscription of N312.56 billion, signaling strong interest from investors.

The 15.70 percent FGN June 2053 (a 30-year Bond) particularly garnered robust demand, boasting a bid-to-cover ratio of 2.71 times.

Successful bidders were allocated a total of N227.76 billion for the four instruments.

Specific allotment rates were as follows: 13.85 percent for the 14.55 percent FGN April 2029, 15.00 percent for the 14.70 percent FGN June 2033, 15.20 percent for the 15.45 percent FGN June 2038, and 15.85 percent for the 15.70 percent FGN June 2053.