The Savings Bonds webinar is also anticipated to deepen the savings culture among retail investors, lower the barrier to all Nigerians, regardless of income level, contributing to the country’s development, provide insights that will enable participants to take advantage of the favorable returns offered by the capital market, and increase the bond’s liquidity in the secondary market.
Federal Government of Nigeria (FGN) Savings Bond was a retail investment program that DMO, acting on behalf of the Federal government, introduced to encourage Nigerians to save more money while also giving everyone, regardless of income level, a chance to contribute to the country’s development and take advantage of the capital market’s comparably favorable returns.
The FGN savings bond is secure, backed by the Federal Government of Nigeria’s full confidence and credit, and provides bondholders with quarterly coupon payments, according to NGX.
FFN bond listings on the NGX totaled N11.23 billion and consisted of FGN savings bonds with 2024 to 2026 maturities. Under its N500 billion debt issuance program, the Lagos State Government issued the sole bond issued by a sub-sovereign organization in the form of its N137.33 billion series 1V, 10-year 13% Fixed Rate Bonds due 2031.
Dangote Industries Funding Plc listed senior unsecured bonds for N112.4 billion in the corporate bond segment, and Taj Bank and Family Homes issued sukuk worth N31.36 billion as part of their respective sukuk issuance plans.
The exchange added that Meristem Stockbrokers Limited, which accounted for 16% of all trades with a value of N143.7 million, topped the list of fixed income transactions in the first quarter of 2023 by value.
