Nigeria Raises N380.77bn in Might Bond Public sale

Nigeria Raises N380.77bn in Might Bond Public sale

The Nigerian authorities has raised N380.769 billion in a extremely subscribed bond public sale carried out on Might 13, 2024.

Nonetheless, the quantity raised is 39% lower than what was raised within the April FGN bond public sale.

The combination subscription throughout all tenors reached a staggering N551.316 billion, far decrease than the N920.088 billion in subscriptions recorded within the earlier month.

Nonetheless, the DMO additionally recorded a non-competitive allotment of N301.300 billion, suggesting continued curiosity from sure institutional traders, regardless of the broader market’s reticence.

This part of the public sale highlights the continued reliance on assured patrons, which considerably cushions the affect of diminished aggressive bidding.