Nigeria to issue N90bn bonds next week

Otunla, Accountant general with Ngozi Okonjo Iweala

Bright Okogu, left with accountant general of the federation, Niyi Otunla and Dr. Ngozi Okonjo Iweala, finance minister

Nigeria’s Debt Management Office (DMO) says it will on 15 January auction N90 billion worth of Federal Government bonds which will mature in 2016 and 2030.

The DMO in its “January 2014 FGN Bond Circular” on its Website on Friday, said settlement for the bonds would take place on January 17.

The debt office said it would issue N45 billion for the three-year bonds, which would mature in August, 2016 and the 20-year bond, which would mature in July, 2030.

It also said that the issuance of the bonds would be re-opening of previous issues.

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The DMO said that the three-year bond would be issued at 13.05 per cent yield rate, while the 20-year bond would be issued at 10.00 per cent yield rate.

The News Agency of Nigeria (NAN) recalls that the DMO ,also on Dec. 11, 2013, sold three-year and 20-year papers.

It said that the three-year bond worth N40 billion would mature also in Aug. 16, 2016 and the 20-year bond worth N35 billion would mature in July 23, 2030.