The Debt Management Office (DMO) on Thursday, revealed that it raised a total of N50.2 billion through FGN Savings Bond from about 35,000 subscribers so far.
The Director General, DMO, Patience Oniha, stated this during the NGX Savings Bond webinar 2023 organised by the Nigerian Exchange Group (NGX) in collaboration with Optimus by Afrinvest and CSL Stockbrokers in Lagos.
Commending the NGX for its role in enlightening retail investors of the opportunity that exists in fixed income securities market especially with respect to the FGN savings bond, Oniha said that the DMO uses the FGN bond benchmark yield curve to price the savings bond to ensure that retail investors earn comparable returns.
Oniha who was represented by the Director, Market Development Department at DMO, Monday Usiade, said that the DMO has raised a total of N50.2 billion through FGN Savings bond from about 35,000 subscribers. “Several countries have made enquiries on the FGN savings bond to the DMO and some are actually working to introduce similar products in their jurisdictions.
Across Africa, Kenya has something similar to what we are doing here in Nigeria. The DMO has raised a total of N50.2 billion through FGN Savings bonds from about 35,000 subscribers.”
