Nigeria's Debt Management Office Raises N724.9bn In February Bond Auction 

The Debt Management Office has announced that it raised N724.9 billion in February 2023 Federal Government bond auction. <br />DBO say it was a 100% increase compared to the previous year. <br />The auction saw a total of 577 bids worth N724.9 billion received for the total amount offered of N360 billion. <br />The total amount allotted was N771.56 billion, with successful bids allotted at marginal rates of 13.99%, 14.90%, 15.90%, and 16.00%. <br />The DMO’s says the auction was part of its efforts to raise funds for the implementation of the Federal Government’s 2023 budget and to finance critical infrastructure projects across the country.