Nigerian Exchange Limited (NGX) on Wednesday August 18 listed on its platform the August 2021 issue of the Federal Government of Nigeria (FGN) Savings Bonds.

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.

Read also: Nigeria’s BOI plans N362bn Eurobond to support COVID-hit businesses

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In a notification on the NGX website, it was reported that the amount issued under the 8.864 per cent FGNSB August 2023 was 204,965,000 at 204,965 units with a 2-year tenor and maturity date at August 11 2023.

The statement further noted that the amount issued under FGNSB August 2024 was 603,248,000 at 603,248 units with a 3-year tenure and maturity date at August 11 2024.

The coupon payment for the issued FGN savings bond will be 11 November, 11 February, 11 May and 11 August.

NGX remains a multi-asset securities exchange providing investors access to equities, diverse fixed income securities, Exchange Traded Products (ETPs), Mutual and other investment funds.

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By Iheanyi Nwachukwu • August 18, 2021

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.

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