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The Debt Management Office (DMO) sold Treasury Bills (T.bills) valued at N2.669 trillion across its auctions in March 2024.
This was contained in the FMDQ Markets Monthly Report for March. The amount represents a 3.07% % (N79.54 billion) month-on-month (MoM) increase in the value of T-bills sold across auctions in February 2024 (N2.589 trillion).
Similarly, the DMO sold FGN bonds worth N608.86 billion (inclusive of N133.20 billion non-competitive bids) via the issuance of a new three-year as well as the re-opening of a seven-year (7Y) and 10-year FGN bonds in March 2024.
The report noted that the total sale represents a 35.30% over subscription of the amount offered and a 59.27% (N886.05 billion) MoM decrease on the amount sold in February 2024 (N1.494 trillion) across the 7Y and 10Y FGN bond maturities.
In March 2024, the CBN sold open market operations (OMO) bills worth N1,056 trillion auction in the primary market.
According to the report, there were no new listings of non-sovereign bonds on the FMDQ Exchange in March 2024.
“However, corporate bonds worth N15.00 billion matured and were redeemed resulting in a 0.68% (N15.00 billion) MoM decrease in the value of Non-Sovereign Bonds outstanding to N2.194 trillion in March 2024,” the report stated.
