DMO redeems ₦130 billion T-bills, Traders says
The Debt Management Office (DMO) has paid off around ₦130 billion ($413 million) worth of Treasury bills maturing this week instead of rolling over the notes as it has done in the past, traders said on Friday.
The government raised $2.5 billion from the Eurobond market last month to refinance a portion of its local Treasury bill portfolio to lower the cost.
Government had in it effort to reduce its domestic debt profile which attracts huge interest, started increasing foreign debt portfolio by taking more Eurobond which attracts low interest.
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