DMO raises N588bn from FGN bond March offer

The Debt Management Office (DMO) said it raised N588.85 billion from the March 2024 Federal Government (FGN)Bond offer which it opened last week, slightly more than the N450 billion which it had planned to raise.

The March offer was much less than N2.5 trillion which it had set out to raise last month and N1.49 trillion which it eventually raised in the February offer. The bond auction results released by the debt office showed that the longer-tenor bond had interested investors more.

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