FG to raise N100bn at bond auction

Nigeria Government plans to raise N100 billion ($327 million) by selling sovereign bonds with maturities of five and 10 years on Dec. 13, the Debt Management Office (DMO) said on Wednesday.

The debt office said it will raise 50 billion naira each in of the maturities using the Dutch auction system.

The bonds are re-openings of previous issues and the result of the auction is expected to be published on Dec. 15, the DMO said.