Nigeria’s Debt Management Office will this Monday open the federal government’s Savings Bond auction for the month of June 2017, selling both two and three year papers to retail investors.
DMO is yet to issue circular to state the yields on the two bonds.
In May, two and three year tenured bonds with yields of 13.18 per cent and 14.18 per cents were sold.
Although the yields were higher than the previous FGN Savings bond sales in April, the amount raised form the bond auction declined from N1.288 billion in April to N790.85 million.
Traders say the waning interest in FGN bond is due to liquidity crunch in the banking industry as well as the picking up of activities at the stock market.