The federal government plans to issue 180 billion to 240 billion naira of five and 20-year bonds in the third quarter, the Debt Management Office (DMO) said on Monday.

The DMO raised 210.22 billion naira ($1.1 billion) through government bond sales in the second quarter.

The debt management office plans to sell the 15.54 percent 2020 bond at auctions in July, August and September with 35-45 billion naira on offer each month.

It said it would also offer the 12.1493 percent 2034 bond in July, August and September with 25-35 billion naira on offer each month.

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