The Debt Management Office (DMO) has created a digital bond subscription system to attract more investors, especially young Nigerians, to the sub-sector of the capital market.

The Director-General of the DMO, Ms. Patience Oniha, disclosed this at a meeting with Distribution Agents and Market Stakeholders for Final Demonstration of the FGN Securities Subscription Portal in Lagos, on Tuesday.

Oniha said that DMO would work closely with the Central Securities Clearing System, CSCS, to deploy technology as a major strategy for attracting more investors to the bond market.

She stated: ‘‘The CSCS has developed a Portal through which investors can subscribe for FGN Savings Bond, FGNSB.

“The DMO has worked with the CSCS to develop the Portal and it has been tested with Distribution agents for the FGNSB.

She added that Information and Communications Technology (ICT) has provided very convenient means of doing business and that as such the DMO would leverage on the portal to attract move investors to the securities market.

She said that young Nigerians would be particularly targeted in that regard, as according to her, the market must move with latest smart technologies to remain relevant and attractive.

“Working with the CSCS, we are adopting strategies to improve investment in the FGN Savings Bond. We want to elevate the FGNSB to make subscription easy, fast and more convenient,” the DMO boss added.

She said that the FGBSB had great potential to attract more retail investors and driving the secondary bond market.

Her words, “The DMO believes that the product has more potential than what has been achieved so far and has for now, identified two (2) ways to achieve much higher volumes and numbers of investors.

In his remarks,, the Managing Director/Chief Executive Officer of the CSCS, Mr. Haruna Jalo-Waziri, challenged brokerage firms to set up Apps for their organisations, as that would further attract young investors to the capital market.

SOURCE: VANGUARD