According to the Nigerian Exchange Limited (NGX), total allotments for FGN Savings Bonds increased to N5.06 billion in the first five months of 2023. Jude Chiemeka, Divisional Head, Capital Markets at NGX, stated this during the recent NGX Savings Bond webinar 2023 organized by the Exchange in collaboration with Optimus by Afrinvest, a leading fintech platform, and backed by the Debt Management Office (DMO) and CSL Stockbrokers.
Chiemeka stated that the webinar was intended to raise awareness among the investing public, particularly the retail section of the market, about the benefits of FGN Savings Bonds, in order to stimulate participation in investments and further improve financial inclusion in the country.The market for FGN Savings Bonds has continued to rise in recent months.
However, there remains opportunity for further participation by the investing public. Meanwhile, the Director-General, DMO, Ms. Patience Oniha, represented by the Director, Market Development Department, DMO, Monday Usiade, during the webinar, revealed that the federal government had successfully raised N50.2 billion from about 35,000 subscribers so far.