FG hopes to borrow N2.5 trillion from FGN Bond auction in February

The Federal Government seeks to borrow N2.5 trillion from its second FGN bond auction of 2024, according to the latest circular from the Debt Management Office (DMO).

According to the circular seen by Nairametrics, the auction is set for February 19, 2024, with the settlement date being February 21, 2024.

In the previous month, the DMO offered four bonds worth N90 billion each. The February auction appears to the first time the Federal Government is borrowing over a trillion through a single bond.