FG to Raise ₦110b at Bond Auction

Nigeria plans to raise 110 billion naira by selling sovereign bonds with maturities of five and 10 years on Jan. 24, the Debt Management Office (DMO) said yesterday, Reuters reports.

The debt office said it will raise 50 billion naira with the five-year bond and 60 billion naira with the 10-year paper, using the Dutch auction system.

The bonds are reopenings of previous issues and the result of the auction is expected to be published on Jan. 26, the DMO said.