Nigeria, Sept. 22 -- A three per cent month-on-month drop of N14.78 billion indicates either a reduction in the government's short-term borrowing requirements or modifications in the auction timetable.



Along with treasury bill sales, the DMO raised N136.16 billion from Federal Government of Nigeria (FGN) bonds, a significant 26.8 per cent decrease compared to July produced the N185.9 billion. Although volumes were lower, demand for these government-backed assets stayed high. Highlighting ongoing investor confidence in sovereign instruments, treasury bills were oversubscribed by more than 142 percent and FGN Bonds saw an oversubscription rate of over 34%.



The News Chronicle learnt that the continuous fascination in these bonds poin...