Nigerian Exchange Limited (NGX) said it has listed August 2021 issue of the Federal Government of Nigeria (FGN) Savings Bonds on its platform.
The FGN Savings Bond is an investment instrument targeted at retail investors with a minimum subscription of N5,000.
It encourages savings and allows investors to earn more income compared to traditional savings accounts, with interest paid every quarter and the principal paid at maturity.
In a notification on the NGX website, it was reported that the amount issued under the 8.864 percent FGNSB August 2023 was 204,965,000 at 204,965 units with a 2-year tenor and maturity date at August 11 2023. The statement further noted that the amount issued under FGNSB August 2024 was 603,248,000 at 603,248 units with a 3-year tenure and maturity date at August 11 2024. It stated that the coupon payment for the issued FGN savings bond will be 11 November, 11 February, 11 May and 11 August.
