FG to sell ₦70 billion in bonds

The Debt Management Office (DMO) plans to sell ₦70 billion ($351.85 million) worth of bonds next week, its seventh debt auction this year.

The DMO said, on Tuesday, it will issue ₦40 billion in five-year paper and N30 billion in the 20-year debt, using the Dutch Auction System on July 15.

All are the reopening of previously issued debt.

Last week the debt office said it would issue between ₦180 and ₦240 billion worth of bonds in the third quarter.