The second FGN bond auction of the year is intended to raise ₦2.5 trillion for the Federal Government.
In a circular released on Wednesday, the Debt Management Office said that the offerings were ₦1.25 trillion with a 10-year tenor and ₦1.25 trillion with a maturity date of February 2031.
The Federal Government’s domestic borrowing plan includes FGN savings bonds.
About N7.06 trillion was raised by the Federal Government from the fixed income market last year.
The Federal Government estimates that it would borrow ₦7.83 trillion this year.
The National Assembly was asked to approve President Bola Tinubu’s plan to borrow $8.69 billion and €100 million from outside sources between 2022 and 2024.
The most recent FG bonds have a face value of ₦1,000 and are redeemed in multiples of N1,000, with a minimum subscription requirement of ₦50,01,000.
FGN bonds typically pay interest on a semi-annual basis.
A two-year FGN savings bond due January 17, 2026, at 11.033 percent annual yield, and a three-year FGN savings bond due January 17, 2027, at 12.033 percent annual yield, were both offered by the FG in January.
It allocated ₦1.394 trillion for the three-year bond and N603.42 billion for the two-year tenor bond.