Nigeria, Jan. 29 -- A new 10-year tenured bond was issued by the Debt Management Office (DMO) with the highest yield and coupon rate ever recorded for FGN bonds, 22.60%.

On Monday, January 27, the 10-year bond, also known as the (Jan-2035), was first auctioned. It had the highest coupon rate ever recorded, at 22.60 percent.

In contrast to the N200 billion offered by the DMO, the bond's high coupon attracted investors, resulting in an oversubscription of N368.1 billion.

According to Atiko Audu, chief investment officer at ARM Pension Managers, investors could take advantage of the 200 basis point yield pick-up between the March 2035 and January 2035 FGN bonds.

"At 20.5 percent, sell your March 2035 shares, and at 22.6 percent, purchase...