FGN bonds attract N1.75 trillion in bids, as DMO allots N1.21 trillion
The Federal Government of Nigeria (FGN) bond auction attracted N1.75 trillion in subscriptions in October 2026, while the Debt Management Office (DMO) allotted N1.21 trillion across three reopened bonds. The post FGN bonds attract N1.75 trillion in bids, as DMO allots N1.21 trillion appeared first on Nairametrics .
In October 2026, the Federal Government of Nigeria's bond auction saw a staggering N1.75 trillion in bids, while the Debt Management Office (DMO) allocated N1.21 trillion towards three reopened bonds. The auction featured maturities ranging from February 2034 to June 2038, with the most sought-after bond being the September 2036 instrument.
This bond garnered the highest subscription of N925.35 billion, surpassing the N800 billion offer. The other two bonds, February 2034 and June 2038, also exceeded their offers, with subscriptions of N78.36 billion and N350.72 billion, respectively. The September 2036 bond received the lion's share of market allotments, indicating its popularity among investors.
The DMO also recorded non-competitive allotments of N400 billion each for the February 2034 and September 2036 bonds, but none for the June 2038 bond. The auction rates fell to 16.99% to 17.29%, following the Central Bank of Nigeria's decision to reduce the benchmark interest rate by 350 basis points to 23% on September 22.
Written by urgent.news from Nairametrics's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
