FGN September Bond oversubscribed – DMO

Director-General, Debt Management Office, DMO, Patience Oniha
Director-General, Debt Management Office, DMO, Patience Oniha

The monthly auction of the FGN Bonds by the Debt Management Office (DMO) on Wednesday was over-subscribed by over N10.9 billion.

The three Instruments on offer to investors at the auction included 5-year, 10-year and 30-year bonds, with a total face value of N150 billion.

The total subscriptions received from competitive bids for the instruments was N160.90 billion.

In addition, there were also non-competitive bids of N46.60 billion, taking the total subscription received (competitive and non-competitive) to the sum of N207.50 billion.

As in previous auctions, the DMO said investors sentiments remained strong for the longer-dated bonds.

“Subscriptions received from competitive bids for the 10-year and 30-year bonds were N82.91 and N63.66 billion, compared with the amount offered of N50.00 billion and N55.00 billion, for the two instruments, respectively.

“Allotments were made to successful bidders at 14.3900% for the 5-year, 14.4300% for the 10-year and 14.6400% for the 30-year bonds,” it said.

The amount allotted to competitive bidders for the three instruments was N100 billion, while the sum of N46.60 billion was allotted to non-competitive bidders.

Overall, the total amount allotted at the auction was N146.60 billion.


PT Mag Campaign AD

All rights reserved. This material and any other material on this platform may not be reproduced, published, broadcast, written or distributed in full or in part, without written permission from PREMIUM TIMES.

Support PREMIUM TIMES' journalism of integrity and credibility

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.

By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.


TEXT AD: To advertise here . Call Willie +2347088095401...

BE THE FIRST TO KNOW! Subscribe to our newsletter

* indicates required


Now available on

  Premium Times Android mobile applicationPremium Times iOS mobile applicationPremium Times blackberry mobile applicationPremium Times windows mobile application