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DMO raises N147b to fund 2019 budget


Ms Patience Oniha, Director-General, Debt Management Office, Nigeria<br />

The Debt Management Office (DMO) yesterday raised N146.60 billion to fund the 2019 federal budget.

Its Director-General, Patience Oniha, said the money was raked from the monthly auction of FGN Bonds it conducted for three Instruments with tenors of five-year, 10-year and 30-year at a total face value of N150 billion offered to investors during the exercise.

Her words: “The total subscription received from competitive bids for the instruments was N160.90 billion. In addition, there were also non-competitive bids of N46.60 billion, taking the total subscription received (competitive and non-competitive) to the sum of N207.50 billion. Overall, the total amount allotted at the auction was N146.60 billion.”

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