The Federal Government has listed its April 2024 Savings Bonds valued at N4.21 billion on the Nigerian Exchange Limited (NGX), according to a market bulletin signed by NGX’s Head of Issuers Regulation Department, Godstime Iwenekhai.
The bonds, comprising the FGS April 2026 and FGS April 2027 issues, total 4.214 million units with a combined value of N4.21 billion.
The FGS April 2026 bonds consist of 1.228 million units valued at N1.23 billion, offering a coupon rate of 17.046 percent. Meanwhile, the FGS April 2027 bonds comprise 2.986 million units amounting to N2.99 billion, with a coupon rate of 18.046 percent.
Backed by the full faith and credit of the Federal Government of Nigeria and charged upon the nation’s general assets, these savings bonds provide investors with secure investment options.
The FGN Savings Bond, issued monthly in tenors of two and three years, offers quarterly payment of coupons at a predetermined rate published by the Debt Management Office (DMO). This initiative, introduced in 2017, aims to democratize the bond market, making it accessible to Nigerians and facilitating continuous development in the domestic market to address infrastructure deficits hindering economic growth.
In a related development, the Federal Government recently conducted a bond auction, raising approximately N380.76 billion. While this amount signifies a significant financial injection, it represents a 39 percent decline compared to the proceeds from the previous April FGN bond auction.
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