In July 2023, the Debt Management Office (DMO) auctioned off treasury notes for N406.10 billion.
The value of T-bills sold across its auctions in June increased by 0.39 percent (N1.59 billion) month on month to 404.51 billion. The FMDQ Exchange financial markets monthly report for July, which was issued on Wednesday, indicated this.
Similarly, in July 2023, the DMO reopened two 10-year, one 15-year, and one 30-year FGN bonds totaling N657.84 billion. The overall sale marked an 182.73% oversubscription of the amount offered, as well as a 39.03% (N184.68bn) month-on-month increase over the amount sold in June 2023 (N473.16bn) for the identical FGN Bond maturities.
During the review period, the Central Bank of Nigeria did not hold any public OMO bills auctions.
In July 2023, the average FGN bond coupon rate fell to 13.05%, 14.10%, and 14.30%, respectively, over the 10-year, 15-year, and 30-year segments.
In addition, no corporate bonds were offered on the FMDQ Exchange in July 2023, compared to N17.50 billion in corporate bonds posted in June 2023. As a consequence, the total outstanding value of corporate bonds remained constant in the month under review, at N1.76tn.
