According to the DMO, the said FGN Bond offered was oversubscribed as total Bids received stood at N134.056 billion from N60Billion auctioned, a subscription level of over 220%.

Though the rates of 6.945% and 7.000% for the 15-year and 25-year FGN Bonds, respectively were higher than the rates of 5.000% and 5.785% at the last Auction, the rates reflect the level of interest rates in the market influenced in part by Monetary Policy Actions, it was disclosed.