FG records N26.92bn shortfall in bond auction

By Peter Egwuatu
The Federal Government, through the Debt Management Office, DMO, has recorded a N26.92 billion or 30.5 percent short fall from its targeted proceeds of N115 billion bond auction, which was part of moves to finance the 2018 budget.

DMO disclosed this, yesterday, stating that the federal government has raised N88.08 billion at its bond auction which was held on Wednesday.

The debt office initially offered N115 billion worth of bonds to be bought but only N88.08 billion was allotted, though subscribers made bids worth N143.48 billion.

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