The Debt Management Office has announced that it raised 724.9 billion naira in February 2023 Federal Government bond auction.

DBO said it was a 100 percent increase compared to the previous year.

The auction, which was held on February 13, 2023, saw a total of 577 bids worth 724.9 billion naira received for the total amount offered of 360 billion naira.

According to a statement on the DMO’s website, the auction was part of its efforts to raise funds for the implementation of the Federal Government’s 2023 budget and to finance critical infrastructure projects across the country.