DMO: Nigeria’s February FGN bond auction 'oversubscribed by over 284%'

The Debt Management Office on Wednesday said its auction of the February 2020 FGN Bond was significantly over-subscribed by about 284.43 per cent.

Also, non-competitive bids for about N60 billion was also received, making the total subscriptions from competitive and non-competitive bids to about N458.2 billion.A breakdown of the competitive subscriptions shows that about N78.43 billion, or 174.30 per cent was received from investors for the 5-year bond; about N95.70 billion, or 212.67 per cent for the 10-year bond, and about N224.07 billion, or 223.15 per cent for the 30-year bond.

While the total allotment for competitive bids was N100 billion across the three tenors, about N60 billion was allotted through non-competitive bid for the 5-year and 10-year tenors, at same rates with the competitive bids, making the total allotment from the two categories of bids at about N160 billion.

CSL will replace Stanbic IBTC Stockbrokers Limited which has served in that capacity prior to the latest appointment.

This is really bad, if money owners dont see their money as a valuable commodity.

When entrepreneurs starts loosing confidence! The best way out is simply secure your funds with the treasury bills. It’s a bad economy signal!

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