February 24, 2026/Cordros Update

At yesterday’s FGN bond auction, the DMO reopened the AUG-2030, MAY-2033 and FEB-2034 bonds, offering a total of NGN800.00 billion. Total demand settled at NGN2.70 trillion (bid-to-offer: 3.4x), with the DMO eventually allotting NGN524.28 billion (bid-to-cover: 5.1x).  The stop rate on the FEB 2034, which was on-the-run last month, declined by 200bps to 15.50%.

Please see the results below