DMO sells N66.56bn in sovereign bonds

The Debt Manaagement Office (DMO) sold N66.5 billion in 5-year and 3-year sovereign bonds at its second debt auction of the year. The debt office sold N30 billion in the 5-year and N36.5 billion in the 3-year instruments at last Wednesdays auction with marginal rates of 11 per cent and 9.25 percent respectively, slightly lower yields than at the previous auction in January.Meanwhile, the Central Bank of Nigeria (CBN) plans to sell N47.65 billion in 91-day and 182-day treasury bills this Wednesday as part of measures to curb inflation and help banks manage their liquidity.The regulator said it would auction N17.65 billion in 91-day bills and N30 billion in 182-day bills using the Dutch Auction System (DAS). The result would be released the following day.The treasury bills are regularly part of monetary control measures.The central bank has said getting headline inflation, which stood at 12.1 percent year-on-year in January and has been in double-digits for more than a year, back down below 10 percent is a priority.
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