Federal Government offers N90bn worth of bonds

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The Federal Government has offered for subscription by auction N90 billion worth of bonds in its August 15 auction, according to the Debt Management Office (DMO).

The offer circular obtained from its website in Abuja, showed that it would sell N25 billion of a five year re-opening issue maturing in April 2023 at 12.75 percent.

It would also sell N25 billion seven year re-opening bond to mature in March 2025 at 13.53 percent and another N40 billion 10-year re-opening at 13.98 percent to mature in February 2028.

Nigeria issues sovereign bonds monthly to support the local bond market, create a benchmark for corporate issuance and fund its budget deficit.

Amaka E. Nliam