Nigerian Exchange Limited (NGX) has listed two additional FGN Savings Bonds on its trading platform.
The FGN savings bond is an investment instrument targeted at retail investors with a minimum subscription of N5,000. It encourages savings and allows investors to earn more income compared to traditional savings accounts, with interest paid every quarter and the principal paid at maturity.
According to a notice by the Head, Listings Regulation Department, Godstime Iwenekhai, the savings bonds issued to investors were admitted on the Exchange on Thursday, 31 August 2023. It said, “Trading Licence Holders are hereby notified that the August 2023 Issue of the Federal Government of Nigeria (FGN) Savings Bonds was listed on the Nigerian Exchange Limited (NGX) on Thursday, 31 August 2023. This is for your information and necessary action, please”.
The notice disclosed that the amount issued under the 9.634 per cent FGNSB AUG 2025 was 421,763,000.00 at 421,763 units with 2-year tenor and maturity date at August 16, 2025. Also, the mount issued under 10.634 per cent FGNSB AUG 2026 was 1,057,470,000.00 at 1,057,470 units with a 3-year tenor and maturity date at 16 August 2026.
It stated that the coupon payment for the issued FGN Savings Bond will be August 16, February 16, May 16, November 16. Furthermore, the DMO announced that it has opened offers for subscriptions for the two-year and three-year tenure of Federal Government of Nigeria bonds at 11.031 per cent and 12.031 per cent respectively per annum.
According to the statement, the offer of subscription will last for four days- between the 4th and 8th of September 2023. The bonds are due on September 13, 2025, for the two-year bonds and September 13, 2026, for the three-year bonds.
SOURCE: THESUN
