Nigeria targets N450 billion from bond auction

The Federal Government is targeting at least N450 billion through its latest bond offering for June 2024.

The Debt Management Office (DMO) disclosed this in a statement on Thursday in Abuja.

The agency has announced a new date for the auction.

The bond offering will be conducted via auction and consist of three different reopenings, each with different maturity dates and interest rates.

READ ALSO: Nigeria’s debt to reach N121tr by Q1 2024 – DMO

The bond auction was originally scheduled for June 17 but was postponed to June 24 due to the Sallah holiday.

The completion date remains June 26.

The minimum subscription requirement is N50,001,000, and subsequent offers must be in multiples of N1,000.

This offer is in accordance with the Debt Management Offices (Establishment) Act 2003 and the Local Loans (Registered Shares and Securities) Act, CAP. L17, LFN 2004, provides the legal framework for bond issuance.

By: Babajide Okeowo

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