Investors oversubscribed FGN Bond, Patience Oniha,
Patience Oniha, Director-General, Debt Management Office

The Debt Managment Office (DMO), the agency in charge of government debt will issue N193 billion in treasury bills during its bi-monthly auction holding next week. N26.14 billion will be raised through 3 month treasury bills, N62 billion will be raised through bil 6 month tenure and N100 billion in bills with a one year tenure.

Finance Minister,  Kemi Adeosun had recently mentioned the government’s plan to refinance $3 billion treasury bills in order to lower the government’s cost of borrowing. This is subject to approval by the National Assembly. The auction is part of the FG’s move to fund a trillion Naira deficit.

Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training. He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE). He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time, he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy. You can contact him via onome.ohwovoriole@nairametrics.com

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