The federal government plans to raise 110 billion naira by selling sovereign bonds with maturities of five and 10 years on Jan. 24, 2018. This was disclosed to newsmen by the Debt Management Office (DMO) on Wednesday.
According to the report by the debt management office, the bond is in two categories, consisting of 50 billion naira with five-year bond and 60 billion naira with 10-year paper, using the Dutch auction system.
The bonds are re-openings of previous issues and the result of the auction is expected to be published on Jan. 26,2018 the DMO said.
-(Emma Ikechukwu)
