{"id":11317,"date":"2017-03-03T14:11:18","date_gmt":"2017-03-03T13:11:18","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=11317"},"modified":"2017-03-03T14:14:10","modified_gmt":"2017-03-03T13:14:10","slug":"fg-introduces-savings-bond-for-retail-investors","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/fg-introduces-savings-bond-for-retail-investors\/","title":{"rendered":"FG Introduces Savings Bond for Retail Investors"},"content":{"rendered":"

The Debt Management Office (DMO), has concluded plans to issue a new type of bond called the\u00a0FGN Savings Bond (FGNSB).<\/p>\n

This will be the Federal Government\u2019s third debt instrument after the FGN Eurobond and FGN Treasury Bills.<\/p>\n

Unlike the first two debt instruments, the FGNSB is targeted at retail investors and lower income earners to encourage savings and earn more income compared to their traditional savings accounts.<\/p>\n

According to ARM Securities, the FGNSB is 100% safe as there is no default risk, it is backed up by the \u2018full faith and credit\u2019 of the Federal Government. Interest will be paid every quarter and the principal repaid at maturity.<\/p>\n

The securities and financial advisory firm said amongst the benefits of the bond includes; It is 100% safe with guaranteed returns; Incomes earned from the; instrument are tax exempt; it provides steady income and a more competitive interest rate; the FGN Savings Bond Certificate can be used as collateral for loan; good for savings towards retirement, marriage, school fees, house projects and it enables individuals enjoy those benefits which accrue to high net-worth investors in the capital market.<\/p>\n

Features for the bond showed that the FGN Savings Bond (FGNSB) will be issued on March 13, 2017 and interested parties (individuals and small savers) have five working days to buy the bond via their stockbrokers with allotment notification sent a week after.<\/p>

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Similarly, the minimum investment will be N5, 000 only (additional in multiples of N1, 000) and maximum N50 million.<\/p>\n

\u201cThe tenor will be two \u2013 three years. Subsequent issuances will be monthly with quarterly payment of interest to investors. FGNSBs can be traded through stockbroking firms just like stocks and all requests are to be submitted through designated distribution agents and ARM Securities have been appointed as a key agent\u201d, it added.<\/p>\n

Commenting on the listing of FG\u2019s Eurobond recently, the Director General, Debt Management Office (DMO), Dr Abraham Nwankwo said that \u201cthe listing of domestic Sovereign Eurobond reinforces FGN\u2019s commitment to deepen and grow the
\nNigerian capital market, noting that developing the domestic market can help bridge the infrastructure deficit constraining economic growth\u201d.<\/p>\n

He noted that the Eurobond which was over-subscribed by 780%, is part of FGN\u2019s funding strategy for its 2016 capital expenditure and will be spent on key infrastructure projects, in line with its economic plan. \u201cThis huge oversubscription rate underscores a buoyant investor\u2019s appetite for building exposure to Nigeria and demonstrates international confidence in the economy\u2019s long term prospects\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Debt Management Office (DMO), has concluded plans to issue a new type of bond called the\u00a0FGN Savings Bond (FGNSB). This will be the Federal Government\u2019s third debt instrument after the FGN Eurobond and FGN Treasury Bills. Unlike the first two debt instruments, the FGNSB is targeted at retail investors and lower income earners to …<\/p>\n","protected":false},"author":11,"featured_media":10748,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[17],"tags":[1620],"coauthors":[2393,2392],"class_list":["post-11317","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-news","tag-arm"],"yoast_head":"\nFG Introduces Savings Bond for Retail Investors - National Wire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/fg-introduces-savings-bond-for-retail-investors\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FG Introduces Savings Bond for Retail Investors - National Wire\" \/>\n<meta property=\"og:description\" content=\"The Debt Management Office (DMO), has concluded plans to issue a new type of bond called the\u00a0FGN Savings Bond (FGNSB). 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