The Federal Government of Nigeria (FGN) Savings Bond received a total subscription of N45.135 billion between its inception in 2017 and 2022, according to the Debt Management Office (DMO).
FGN savings bond which was specifically designed to encourage retail investors, performed well across the country’s six geopolitical zones.
The FGN Savings Bond is a product introduced by the DMO in March 2017 to allow retail investors to participate in the FGN securities market and promote financial inclusion.
Patience Oniha, Director-General of the DMO, stated this on Tuesday in Lagos, during the unveiling and demonstration of the Securities subscription portal at a stakeholders meeting.
Oniha said the portal was created to make subscriptions to various FG securities easier, particularly for retail investors.
Ms. Oniha claims that the portal will make it simple for subscribers to subscribe to various FG securities. She stated that various stakeholders in the sector would be present at the event to demonstrate the portal.
“Participants will include distribution agents and other key stakeholders involved in the issuance and processing of FGN securities. The forum is an opportunity to engage directly with the DMO and other parties on any concern they may have on the portal,” added Ms. Oniha.
She also stated that the portal would allow for the seamless remittance of investor subscriptions as well as the validation of account details for timely coupon payments.
