DMO Raises N99.26b from N140b Bond Auction

By Dipo Olowookere

A total of N99.26 billion was raised by the Debt Management Office (DMO) on behalf of the Federal Government from the bond auction exercise carried out on Wednesday.

The debt office said on Thursday that it sold the five, 10 and 20-year bond at a flat rate of 16.19 percent.

Nigeria had wanted to raise N140 billion from the market, but could not get such amount from investors during the exercise, which was conducted using the Dutch system.

Data released by the DMO revealed that N4.22 billion was realised from the 2021 notes at 16.19 percent in contrast to 16.30 percent it achieved in May 2017.

Also, the debt office sold the 2027 paper for N30.25 billion at 16.19 percent, compared with 16.29 percent a month earlier.

Furthermore, the DMO said N64.79 billion was raised from the 2037 paper at 16.19 percent, versus 16.29 percent last month.