DMO issues N360bn FGN bond

The Debt Management Office (DMO), will be conducting a bond auction today.

T-bills worth N161.87 billion will be auctioned by CBN via the primary market; viz: 91-day bills worth N1.10 billion, 182-day bills worth N0.92 billion and 364-day bills worth N159.85 billion.

Dealers from Cowry Research expects the stop rates of the 364-day to rise slightly.

Meanwhile, the total amount of FGN bonds on offer is expected to be between N360 billion and N400 billion from four issues.

The instruments include four reopening issues (February 2028, April 2032, April 2037 and April 2049).