Federal Government’s bonds for August worth N150 billion, auctioned on Wednesday, were oversubscribed by N92.23 billion, Debt Management Office has said.

The total subscription received for the bonds was N242.23bn, comprising of N32.68bn for 12.5 per cent FGN January 2026 bonds; N48.82bn for  12.5 per cent FGN March 2035 bonds; N46.44bn for 9.8 per cent FGN July 2045 bonds; and N114.29bn for 12.98 per cent FGN March 2050 bonds.

The auction results showed that there were 34 successful bids each for January 2026 and March 2035 bonds, while July 2045 and March 2050 bonds recorded 31 and 55 successful bids from a total of 45, 71, 46, and 1,000 bids respectively.

According to DMO, successful bids for the 12.5 per cent FGN Jan 2026, 12.5 per cent FGN Mar 2035, 9.8 per cent FGN Jul 2045 and 12.98 per cent FGN Mar 2050 were allotted at the marginal rates of 6.7 per cent, 9.35 per cent, 9.75 per cent and 9.9 per cent respectively.

It, however, added that original coupon rates of 12.5 per cent for 12.5 per cent FGN Jan 2026, 12.5 per cent for 12.5 per cent FGN Mar 2035, 9.8 per cent for  9.8 per cent FGN Jul 2045 and 12.98 per cent for 12.98 per cent FGN Mar 2050 would be maintained.

Punch