DMO to Raise N60bn through Bond Auction

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Nume Ekeghe

The Federal Government through the Debt Management Office (DMO) is set to raise N60 billion through bond issuance.

The DMO in a bond offer circular released yesterday on its official website, stated that it plan to raise N20 billion each from the 12.75% FGN APR 2023 five-year paper, 12.50% FGN MAR 2035, 15 year paper and 12.98% FGN MAR 2050, 30 year paper all of which are to reopen next week Wednesday.

Last month, in spite of the lockdown, it had raised N156.06 billion and an additional N20 billion through uncompetitive bids from the three bond auctioned , higher than N60 billion which it initially planned to raise.