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FGN August Bond Oversubscribed By N92.23bn

Deby Management Office (DMO) has disclosed that the Federal Government’s August bonds, which were valued at N150 billion and auctioned on Wednesday, were oversubscribed by N92.23 billion.

DMO, in the auction results posted on its website, said  the total subscription received for the bonds was N242.23bn.

The breakdown for the N242.23bn bonds are; 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.

Investors Oversubscribe FGN's July Bonds By N340.13bn

There were 34 successful bids each for the January 2026 and March 2035 bonds, while the July 2045 and March 2050 bonds attracted 31 and 55 successful bids from a total of 41, 71, 46 and 1,000 bids respectively.

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

“The original coupon rates of 12.5% for the 12.5% FGN Jan 2026, 12.5% for the 12.5% FGN Mar 2035, 9.8% for the 9.8% FGN Jul 2045 and 12.98% for the 12.98% FGN Mar 2050 will be maintained,” the DMO said.

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