The federal government bond which was auctioned on July 12, 2017 has recorded a successful subscription of N9.10 billion for the five year tenor, N55.31 billion for ten years and N64.75 billion for twenty years respectively.
The auction attracted interest rates of 14.50 per cent, 16.2884 per cent and 16.2499 per cent meant to mature on July 15, 2021, March 17, 2027 and April 18, 2037 respectively. According to the data culled from the Debt Management Office website, N3.90 billion was allotted for the five year tenor, ten years tenor attracted N47.01 billion while N55.05 billion was allotted to the twenty years tenor.
Similarly, the FGN savings bond which was auctioned on July 3 to 7, 2017 recorded 342 successful subscriptions for the two year tenor at the rate of 13.386 per cent while the three year tenor had 437 successful subscriptions at the rate of 14.386 per cent.
The bond which is expected to mature on July 12, 2019 had an allotment of N160.770 Million while N239.803 Million was allotted to three year bond meant to mature on July 12, 2020.
Meanwhile, federal government has benchmarked bonds between 2 years tenor to 20 years at the rate between 10 per cent to 16.2499 per cent maturing April 2037. The next FGN savings bond is scheduled to be auctioned on August 7 to 11, 2017.