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August bonds oversubscribed by N92.23bn – DMO

The Federal Government’s bonds for the month of August worth N150bn, which were auctioned on Wednesday, were oversubscribed by N92.23bn, the Debt Management Office has said.

The total subscription received for the bonds was N242.23bn, comprising of N32.68bn for the 12.5 percent FGN January 2026 bonds; N48.82bn for the 12.5 percent FGN March 2035 bonds; N46.44bn for the 9.8 percent FGN July 2045 bonds; and N114.29bn for the 12.98 percent FGN March 2050 bonds.

The auction results showed that there were 34 successful bids each for the January 2026 and March 2035 bonds, while the July 2045 and March 2050 bonds recorded 31 and 55 successful bids from a total of 45, 71, 46, and 1,000 bids respectively.

According to the DMO, successful bids for the 12.5 percent FGN Jan 2026, 12.5 percent FGN Mar 2035, 9.8 percent FGN Jul 2045, and 12.98 percent FGN Mar 2050 were allotted at the marginal rates of 6.7 percent, 9.35 percent, 9.75 percent and 9.9 percent respectively.

It, however, added that the original coupon rates of 12.5 percent for the 12.5 percent FGN Jan 2026, 12.5 percent for the 12.5 percent FGN Mar 2035, 9.8 percent for the 9.8 percent FGN Jul 2045 and 12.98 percent for the 12.98 percent FGN Mar 2050 would be maintained.

Source: Voice of Nigeria