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FG to sell N70bn worth of bonds next week
FELIX OLOYEDE
The Federal Government has concluded plans to sell N70 billion ($351.85 mln) worth of bonds on July 15, at this year’s seventh debt auction.
The Debt Management Office (DMO), which disclosed this yesterday said it will issue N40 billion in five-year paper and N30 billion in the 20-year debt, using the Dutch Auction System.
All these bonds that would be issued next week are the reopening of previously issued debt.
The DMO had last week revealed that it would issue between N180 billion and N240 billion worth of bonds in the third quarter.
Meanwhile, the Monetary Policy Committee of the Central Bank of Nigeria (CBN) was bid to meet on July 20-21, 2015 has been put forward to July 23-24, 2015.
In a release signed by the secretary of the committee and Director, Monetary Policy Department, CBN, Mr. Moses Kpughur Tule, the 245th MPC meeting was postponed because it clashes with the Eid marking the end of the Ramadan fast holiday.
“To enable all stakeholders concentrate on the Eid marking the end fasting and the expected holiday, the chairman has directed that the 245th meeting of the Monetary Policy Committee shall hold on Thursday 23rd and Friday 24th July, 2015,” he stated.
