By Peter Egwuatu

Nigerian Exchange Limited (NGX) has announced that the August 2021 issue of the Federal Government of Nigeria (FGN) Savings Bonds were listed on its platform today (Wednesday).

The FGN Savings Bond is an investment instrument targeted at retail investors with a minimum subscription of N5, 000. 

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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 per cent FGNSB August 2023 was N204,965,000 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 N603, 248,000 at 603,248 units with a 3-year tenure and maturity date at August 11 2024. The coupon payment for the issued FGN savings bond will be 11 November, 11 February, 11 May and 11 August.

NGX remains a multi-asset securities exchange providing investors access to equities, diverse fixed income securities, Exchange Traded Products (ETPs), Mutual and other investment funds.