The Federal Government has listed its latest issuances under its Federal Government of Nigeria Savings Bond (FGNSB) on the Nigerian Exchange (NGX) Limited.
The listing of the two tranches of the FGNSB issued earlier this month paved the way for bondholders to trade on their holdings.
FG offered a 2-Year FGN Savings Bond due November 10, 2023 at a coupon of 7.376 per cent per annum. It also simultaneously offered a 3-Year FGN Savings Bond due November 10, 2024 at coupon of 8.376 per cent per annum. The July 2021 offer was the 53rd tranche of the savings bond, introduced in 2017.
Regulatory documents showed that the government raised about ₦418 million under the savings bonds in November 2021.
A total of 133,407 units of the two-year bond valued at ₦133.41 million were listed at par value of ₦1,000 while a total of 285.44 million units of the three-year bond valued at ₦285.44 million were listed at par value of ₦1,000.
The coupon payment dates for the bonds, which pay interest rates quarterly are February 10, May 10, August 10 and November 10 respectively.
Usually, the minimum subscription to the bonds, offered at ₦1,000 per unit, is ₦5,000 or five units and in multiples of ₦1,000 thereafter, subject to a maximum subscription of ₦50 million.
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