The Federal Government Tuesday offered for subscription by auction N90 billion worth of bonds in its April 25 auction.

The Debt Management Office (DMO), through a circular hosted on its website, indicated that it would auction N30 billion of a five-year new issue maturing in April 2023 at a yet-to-be disclosed rate.

The Office also stated that it would also sell N30 billion seven-year re-opening bond at 13.53 percent to mature in March 2025 and another N30 billion 10-year re-opening bond at 13.98 percent to mature in February 2028.

FGN Bonds are debt securities (liabilities) of the Federal Government of Nigeria (FGN) issued by the Debt Management Office (DMO) for and on behalf of the Federal Government.

The bonds are issued monthly or as need arises to finance government fiscal deficits in a non-inflationary and sustainable manner, enhance fiscal discipline, refinance maturing debt obligations of government and to establish benchmark yield curve, to develop and ensure liquidity in the domestic bond market on a sustainable basis, amongst others.