• About
  • Advertise
  • Careers
  • Contact Us
Wednesday, June 18, 2025
  • Login
No Result
View All Result
NEWSLETTER
Tech | Business | Economy
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Mobility
    • Environment
    • Travel
    • StartUPs
  • Economy
  • TECHECONOMY TV
  • TBS
  • About Us
  • Contact Us
  • Telecoms
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Mobility
    • Environment
    • Travel
    • StartUPs
  • Economy
  • TECHECONOMY TV
  • TBS
  • About Us
  • Contact Us
  • Telecoms
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
ADVERTISEMENT
Home Economy Finance

FG Raises N418.197 billion in January 2024 Bond Auction  

By; Tobi Adetunji

by Techeconomy
January 30, 2024
in Finance
0
bond and FG's bonds 2024
An employee counts mixed denomination rand currency banknotes at the Forex department inside a First National Bank (FNB) branch in Johannesburg, South Africa, on Friday, March 15, 2013. A recovery in mining and manufacturing is giving South Africa's rand and bonds a breather amid concern that growth is slowing while inflation accelerates. Photographer: Nadine Hutton/Bloomberg

An employee counts mixed denomination rand currency banknotes at the Forex department inside a First National Bank (FNB) branch in Johannesburg, South Africa, on Friday, March 15, 2013. A recovery in mining and manufacturing is giving South Africa's rand and bonds a breather amid concern that growth is slowing while inflation accelerates. Photographer: Nadine Hutton/Bloomberg

UBA
Advertisements

According to the results, the Federal Government has raised about N418.197 billion from the four bonds that were auctioned.

The auction which took place on January 29, 2024, saw the reopening of the 10-year 16.2884% FGN MAR 2027, the 10-year 14.55% FGN APR 2029, the 10-year 14.70% FGN JUN 2033, and the 15-year 15.45% FGN JUN 2038 bonds.

Furthermore, N90 billion was offered for the 16.2884% FGN MAR 2027 bond. A subscription of N166.997 billion, representing an oversubscription of N76.997 billion was received, with bids ranging between 12.00% and 18.50%.

However, only N86.187 billion was allotted with the marginal rate being 15.00%. N90 billion was offered for the 14.55% FGN APR 2029 bond.

A subscription of N56.839 billion was received, representing an under-subscription of N33.161 billion, with bids ranging between 12.50% and 18.00%.

However, the total allotted amount was N21.939 billion with a marginal rate of 15.50%.

N90 billion was offered for the 14.70% FGN JUN 2033 bond. A subscription of N68.846 billion was recorded, representing an under-subscription of N21.154 billion, with bids ranging between 13.50% and 17.97%. The total allotted amount was N43.346 billion with a marginal rate of 16.00%.

N90 billion was offered for the 15.45% FGN JUN 2038 bond. A subscription of N311.875 billion was received, representing an oversubscription of N221.875 billion with bids ranging from 15.7% and 18.5%. The total allotted amount was N266.725 billion with the marginal rate being 16.50%.

The auction results display continued investors’ appetite for longer-tenured bonds in Nigeria due to higher yield rates, even as Nigeria is yet to turn the corner concerning inflation.

With a drop in 2024’s budget deficit to N9.18 trillion from 2023’s budget deficit of N11.34 trillion, it is expected that there will be a drop in the amount raised through FGN bonds.

For example, the N418.197 billion allotted in FGN bonds in January 2024 is a 36.9% year-on-year decline from the N662.617 billion raised in January 2023

Loading

Advertisements
MTN ADS

Author

  • Techeconomy
    Techeconomy

    View all posts
0Shares
Tags: BondBonds
Techeconomy

Techeconomy

Next Post
identity fraud

Nigeria, Ghana Lead West Africa’s Identity Fraud Cases - Report

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recommended

Apple Delays Smart Home Hub Launch Due to Siri Development Setbacks

Apple Delays Smart Home Hub Launch Due to Siri Development Setbacks

3 months ago
Sophos and IBM leadspace

Sophos Launches Incident Response Retainer

2 years ago

Popular News

    Connect with us

    • About
    • Advertise
    • Careers
    • Contact Us

    © 2017 TECHECONOMY.

    No Result
    View All Result
    • News
    • Tech
      • DisruptiveTECH
      • ConsumerTech
      • How To
      • TechTAINMENT
    • Business
      • Mobility
      • Environment
      • Travel
      • StartUPs
    • Economy
    • TECHECONOMY TV
    • TBS
    • About Us
    • Contact Us

    © 2017 TECHECONOMY.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    Translate »