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

The total subscription received for the bonds was N470.13bn, comprising of N71.97bn for 12.5 percent FGN January 2026 bonds; N60.32bn for 12.5 per cent FGN March 2035 bonds; N130.27bn for 9.8 per cent FGN July 2045 bonds; and N207.57bn for 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 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 DMO, successful bids for the 12.5 percent FGN January 2026, 12.5 percent FGN March 2035, 9.80 percent FGN July 2045 and 12.98 percent 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.

Punch