The DMO made this known in a statement released through its
official website on Tuesday.
The News Agency of Nigeria (NAN) reports that the DMO held
the FGN bond auction on Monday, amidst monetary policy tightening and
uncertainties.
Four instruments were offered to investors at the auction.
The instruments were 14.55 per cent April 2029 FGN bond;
14.70 per cent June 2033 FGN bond; 15.45 per cent June 2038 FGN bond and 15.70
per cent June 2053 FGN bond.
They were valued at N90 billion each, making a total offer
of N360bn.
“In spite of current market conditions, the auction received
a total subscription of ₦312.56 billion.
“Investors’ appetite for the 15.70 June 2053 (30-year bond)
remained strong, with a bid-to-cover ratio of 2.71 times.
“The amount allotted to successful bidders for the four
instruments was N227.76 billion.
“Allotments were made at 13.85 per cent for the 14.55 per
cent April 2029 instrument and 15.00 per cent for the 14.70 per cent June 2033
instrument.
Also “15.20 per cent was for the 15.45 per cent June 2038
instrument, and 15.85 per cent for the 15.70 per cent June 2053 instrument, ”
the DMO said.
The News Agency of Nigeria (NAN) reports that the FGN bond,
like the FGN savings bond and the sovereign sukuk, are FGN securities which
constitute the local component of government borrowing. NAN