FG Rakes in N1.49tr from February Bond Auction
By Patience Ikpeme
The Debt Management Office (DMO) confirmed that the Federal Government realized N1.49 trillion from two FGN bond offers issued in February.
According to a statement released by the DMO raised N1.495 trillion in FGN bonds during its February 2024 auction.
This included N1.25 trillion in 7-year FGN bonds maturing in 2031 and N1.25 trillion in 10-year FGN bonds maturing in 2034.
The total bids received amounted to N1.9 trillion, the highest ever in any FGN securities auction.
Following the auction, N873.53 billion was allotted for the FGN 2031 bonds and N621.38 billion for the 2034 FGN bonds, making a total allotment of N1.495 trillion.
The DMO stated that the substantial offering aimed to meet federal financing needs and attract foreign investors.
