DMO Reports N5.06bn Allotment in November Savings Bond

The Debt Management Office (DMO) allotted N5.06bn to investors in its November Federal Government of Nigeria Savings Bond offer, reflecting a 17.4 percent decline from the N6.12bn recorded in October. The November allotment included N746.01m for the two-year bond and N4.31bn for the three-year instrument.

The offer was open from November 2 to 6 and settled on November 11, with annual interest rates set at 13.25 percent for the two-year bond and 14.25 percent for the three-year bond. The decrease in allotment occurred despite the higher interest rates on both instruments, indicating that the improved returns did not lead to increased demand during the offer period.