DMO lists 2.1bn units of FGN savings bond on NSE

The Debt Management Office (DMO) on Wednesday listed 2.1 billion (2.067.961,000 ) units of FGN savings bond series 1 on the Nigerian Stock Exchange (NSE).
Director-General of the DMO, Dr. Abraham Nwankwo, while speaking at the listing on The Exchange commended Nigerians for participating in the first issuance of this bond on March 13, 2017.
According to Nwankwo, “This is the first time that the Federal Government ensured that the common Nigerians participate in a bond and about 75 per cent of these deals were from ordinary Nigerians.
“The Savings Bond, the first of its kind in Nigeria, was opened to investing public by way of offer for subscription over a five day offer period starting from Monday, March 13, 2017 to March 17, 2017 and N2,067,961,000 was raised from the retail market at 13.01 percent coupon.
“About 2.067 billion units were allotted to 2,575 people. The bond is for the retail investors and is being issued to ensure that all Nigerians participate and I encourage everyone to patronise in it. We will issue the next one on April 3rd, 2017 and it will run for five days thereafter.”
Commenting on the listing, in a press statement by The Exchange , Haruna Jalo-Waziri, Executive Director, Capital Markets, NSE, said: “We are pleased to list the series 1 of this innovative investment offering that caters to the retail segment of the Nigerian capital market.”
“The off take of the first tranche underpins the efforts of the Federal Government to continue to work with stakeholders to deepen the capital market whilst delivering value to investors at all income levels.” We look forward to continue the collaboration with DMO to list subsequent series of the Savings Bond”.

Picture Caption:
L- R : Mr. Ayodale Afolabi, Director, Portfolio Development Department, Debt Management Office (DMO); Mr. Oscar N. Onyema, OON, Chief Executive Officer, The Nigerian Stock Exchange (NSE), Dr. Abraham Nwakwo, Director General, DMO; Mr. Haruna Jalo-Waziri, Executive Director, Capital Markets, NSE and Mr. Abubakar Sani Kolo, Head, Portfolio Development Department, DMO at the Listing of Series 1 of the FGN Savings Bond (N2,067,961,000.00) at the Exchange on Wednesday.