The Debt Management Office (DMO) says the results of the second Sovereign Green Bond demonstrates greater commitment from the public towards protecting the environment. The organisation said this in a statement on Thursday in Abuja, declaring the results of the auction which opened on June 3 as over subscribed.

According to the statement, total value of subscriptions received was N32.93 billion, representing 220 per cent of the N15 billion offered. It said that the issuance revealed increased knowledge and awareness of green bonds by subscribers. “Similarly, the number of subscribers doubled when compared to the figure for the first Sovereign Green Bond issued in December 2017.

“Retail investors were not left out, as the number of individuals who subscribed for the second Sovereign Green Bond more than doubled. “The amount of subscriptions grew by almost 201 per cent with the share of total subscriptions rising to 1.43 per cent compared to 0.67 per cent for the 2017 Sovereign Green Bond.” It said that the stronger participation of retail investors showed that financial inclusion and deepening of the domestic financial market were being achieved.

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