According to Nigerian Exchange Limited, overall allotments for FGN Savings Bonds have increased to N5.06 billion in the first five months of 2023.
The FGN Savings Bonds market has remained on an upward trend in the current year (from January to May), with allotments averaging N1.01 billion (total allotments from January to May stand at N5.06 billion,” Chiemeka added.
As inflation continues to rise (it is already at 22.22 percent as of May), the yields on FGN Savings Bonds, which are in the market, are falling. The Director-General, DMO, Ms Patience Oniha, represented by the Director, Market Development Department, DMO, Monday Usiade, during the webinar, revealed that FG had successfully raised N50.2bn from about 35,000 subscribers.
The NGX set up the webinar to create more awareness of the benefits of FGN Savings Bonds to the investing public, especially the retail segment of the market, thereby encouraging participation in investments and driving financial inclusion in the country.