Nigeria to raise N120 billion at bond auction

News Express |7th Sep 2016 | 2,185

The Federal Government is set to raise 120 billion Naira at a bond auction on September 14, 2016, a report from Abuja said.

The report, by Channels TV, quoted the Debt Management Office (DMO) as disclosing that N40 billion each will be raised from debts maturing in 2021, 2026 and 2036, using the Dutch Auction System.

The Federal Government has estimated it will borrow around 900 billion from the local debt market this year to fund a budget deficit projected at N2.2 trillion.

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