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Value of FGN bonds on NGX drops by 90% in 8 months amid additional listing

Value of FGN bonds on NGX drops by 90% in 8 months amid additional listing

In eight months to August 2023, the value of listed FGN bonds on the Nigerian Exchange Limited (NGX) decreased by about 90 percent to N148.2 billion from N1.6 trillion recorded in the same period of 2022.

This is even as the Federal Government of Nigeria on Tuesday listed 11,702,998,918 additional units of its bonds, according to a notice signed by Lilian Dako for: Head, Listings Regulation Department on the Federal Government of Nigeria: Supplementary Listing of FGN Bonds (January to September 2023)

The notice to Trading Licence Holders notified that the January – September 2023 Federal Government of Nigeria (FGN) Bonds were listed on the Nigerian Exchange Limited on October 10, 2023.

Read also: NGX says total allotments for FGN Savings Bonds rise to N5.06bn in 5 months

FGN Bonds supplementary listings from January to May 2023 bring the total outstanding units of the 13.98 percent FGN Feb 2028 to 1,495,291,322.

For the 12.50 percent FGN APR 2032 bond, the total units outstanding as of October 10 were 423,790,646, and 16.2499 per cent FGN APR 2037 bond had outstanding units of 1,168,846,545.

FGN bonds; 14.80 per cent FGN APR 2049, 13.00 per cent FGN JAN 2042, 12.98 per cent FGN MAR 2050, and 14.55 per cent FGN APR 2029 had outstanding units of 1,778,920,045, 958,593,154, 1,595,413,424 and 860,453,782 respectively.

Read also: DMO offers 2 new FGN savings bonds for subscription

The 14.70 percent FGN JUN 2033 for June, July, August and September has outstanding units of 91,520,000, the 15.45 percent FGN JUN 2038 bond has outstanding units of 398,989,000 and the 15.70 per cent FGN JUN 2053 for the period of time has 1,220,336,000 units.

Also, 91,520,000.00 units of the 14.70 per cent FGN JUN 2033 bond were outstanding as of Tuesday, 15.45 per cent FGN JUN 2038 bond has 398,989,000 units outstanding and the 15.70 per cent FGN JUN 2053 bond has 1,220,336,000 units.