Fed Govt’s July Bonds Oversubscribed By N340.13bn

The Federal Government Bonds for the month of July worth N130bn, which were auctioned on Wednesday, were oversubscribed by N340.13bn, the Debt Management Office has said.

The total subscription received for the bonds was N470.13bn, comprising of N71.97bn for the 12.5 per cent FGN January 2026 bonds; N60.32bn for the 12.5 per cent FGN March 2035 bonds; N130.27bn for the 9.8 per cent FGN July 2045 bonds; and N207.57bn for the 12.98 per cent FGN March 2050 bonds.

The 12.5 per cent FGN January bond was offered for N25bn, while the other three bonds were offered for N35bn each.

The auction results published on the DMO site on Wednesday said that 36, 58, 70 and 29 were successful bids for the total bids for each bonds auction of 97, 87, 131 and 189 bids.

According to the DMO, successful bids for the 12.5000 per cent FGN January 2026, 12.5000 per cent FGN March 2035, 9.80 per cent FGN July 2045 and 12.9800 per cent FGN March 2050 were allotted at the marginal rates of six per cent, 9.5 per cent, 9.8 per cent and 9.95 per cent respectively.