The Nigerian Federal Government has successfully listed its April 2024 Savings Bonds valued at N4.214 billion on the Nigerian Exchange Limited (NGX) platform. This significant financial move was unveiled through a market bulletin signed by Godstime Iwenekhai, the Head of the Issuers Regulation Department at NGX.
In the bulletin, Trading License Holders were officially notified of the listing of the April 2024 Issue of the Federal Government of Nigeria (FGN) Savings Bonds on NGX, effective May 13, 2024.
The breakdown of the Bonds revealed that the FGS April 2026 category comprises 1.228 million units valued at N1.228 billion, boasting a coupon rate of 17.046%. Similarly, the FGS April 2027 category encompasses 2.986 million units, amounting to N2.986 billion with a coupon rate of 18.046%.
These bonds are underpinned by the full faith and credit of the Federal Government of Nigeria and are secured against the general assets of the nation, as reiterated by the debt office.
The Federal Government Savings Bond, issued monthly, presents investment opportunities with tenors of two and three years, offering quarterly payment of coupons (interest) at a predetermined rate published by the Debt Management Office (DMO) every month.
The listing of the April 2024 Savings Bonds on the NGX platform signifies the government’s commitment to providing secure and attractive investment options for both institutional and retail investors. It also reinforces confidence in the Nigerian capital market and promotes the culture of savings and investment within the country.
