The Federal Government realized a total of N45.135 billion from retail investors in the bond market (FGN savings bond) in 2022. This reflects strategic efforts by the Debt Management Office (DMO) to stimulate activities in the capital market.
Director General of the DMO, Ms. Patience Oniha, made the disclosure at the engagement with Distribution Agents and Market Stakeholders for Final Demonstration of the FGN Securities Subscription Portal, in Lagos, on Tuesday.
According to her, “Since its introduction in March 2017, the FGNSB has performed relatively well. Total subscription from 2017 to December 2022 was N45.135 billion with investors coming from the six geo-political zones and the Federal Capital Territory.” The DMO boss explained that the portal would be launched in about about weeks, in collaboration with the Central Securities Clearing System (CSCS). She noted that the FGBSB had great capabilities to attract more retail investors and driving the secondary bond market.
She said: “The DMO believes that the product has more potential than what has been achieved so far and has for now, identified two ways to achieve much higher volumes and numbers of investors.
“In 2022 we embarked on investor sensitization programmes across a number of cities in Nigeria, this strategy proved successful as total subscription almost doubled from N8.396 billion in 2021 to N16.589 billion in 2022.