N2.669 trillion Treasury Bills Sold by Nigeria’s Debt Management Office in March
In March 2024, Nigeria’s Debt Management Office (DMO) conducted auctions and sold treasury bills totaling N2.669 trillion. This information was recently revealed in the Markets Monthly Report for March by FMDQ.
The N2.669 trillion figure reflects a 3.07% increase (N79.54 billion) compared to the value of treasury bills sold in February 2024, which stood at N2.589 trillion.
Additionally, in March 2024, the DMO auctioned Federal Government of Nigeria (FGN) bonds amounting to N608.86 billion, which includes N133.20 billion from non-competitive bids. These bonds comprised a new three-year issuance along with the reopening of seven-year and 10-year FGN bonds.
The report highlighted that the total sale of bonds had a 35.30% oversubscription rate compared to the offer and saw a 59.27% dec...