The Federal Government will on Monday sell the first tranche of its newly introduced Federal Government of Nigeria Savings Bond (FGNSB).
The minimum subscription for the FGNSB has been fixed at N5, 000 while the maximum subscription for the new security is fixed at N50 million.
The Debt Management Office (DMO), which oversees issuance of Federal Government bonds, will be issuing the savings bonds on behalf of national government. Parties to the debt issue confirmed at the weekend that all arrangements have been concluded for the successful issuance of Nigeria’s first-ever savings bonds.
Executive Director, Capital Market Division, Nigerian Stock Exchange (NSE), Haruna Jalo-Waziri, said to ensure that the maiden offer reaches the last-mile subscribers, the DMO has accredited 87 stockbroking firms of the NSE to market and distribute the savings bonds.
Several stockbroking firms had over the past three weeks been sensitising the investing public about the savings bonds, raising optimism that the initial launch will be a huge success.
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