DMO Raises N124 Billion In July FGN Bond Auction As Investors Oversubscribe Long-Term Instrument.

The Debt Management Office (DMO) has announced that it raised the total sum of N123.84 billion; in its Federal Government of Nigeria (FGN) bond auction for the month of July.

This disclosure is in a statement by the DMO and can on its website; where it points out that the 3 instruments were value at N75 billion each, totalling N225 billion.

According to the statement, the DMO noted that although the short-term and medium-term instruments recorded far below the offered amounts; the investors showed more preference for the long-term instrument which was oversubscribed.

-Nairametrics.