{"id":12018,"date":"2017-04-04T12:38:51","date_gmt":"2017-04-04T11:38:51","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=12018"},"modified":"2017-04-04T12:39:19","modified_gmt":"2017-04-04T11:39:19","slug":"fed-govt-committed-to-grassroots-economic-growth-says-dmo","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/fed-govt-committed-to-grassroots-economic-growth-says-dmo\/","title":{"rendered":"Fed Govt committed to grassroots\u2019 economic growth, says DMO"},"content":{"rendered":"

\u2022 N2.067b Savings Bond listed on NSE<\/strong><\/em><\/p>\n

The Debt Management Office (DMO) has reiterated Federal Government\u2019s commitment to ensuring that people at the grassroots benefit from investment and growth potentials in the economy.<\/p>\n

Its Director-General, Dr. Abraham Nwankwo, who spoke during the listing of N2.067 billion Federal Government of Nigeria (FGN) Savings Bond on the floor of the Nigeria Stock Exchange (NSE) said the bond created opportunity for low cadre investors to build sustainable wealth.<\/p>\n

Also speaking, NSE Chief Executive Officer, Oscar Onyema who approved the listing of the bond, commended the DMO for its commitment for growing the savings bond market.<\/p>\n

Nwankwo, who sounded the closing gong at the NSE said the approval of the bonds listings which comes with 13.01 per cent coupon, said: \u201cIt\u2019s an exciting day for Nigerian and DMO in particular; we were giving the opportunity to introduce a savings bond with the Central Bank of Nigeria (CBN), Securities and Exchange Commission (SEC) and other relevant agencies for supporting our efforts.\u201d<\/p>\n

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He said the Federal Government wanted to ensure that progress being witnessed in the economy, benefits the grassroots.<\/p>\n

The DMO boss said out of the 2,555 people that subscribed for the offer, over 95 per cent were individuals consisting of ordinary Nigerians on the street including barbers, hairdressers, vulcanizers teachers, motor park workers among others.<\/p>

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Advertisement<\/div>\r\n\t\t\t\t\t\t\t<\/a>\r\n \r\n\t\t\t\t\t\t\t<\/div>\n

\u201cThese are the people that subscribed for the offer. We are so excited and happy that Nigeria has broken the jinx to make sure that everybody in the country is part and parcel of activities in the capital market. And that is very consistent with the plan of the Federal Government. I repeat that whatever progress Nigeria is making should be inclusive and ordinary people should be part and parcel of it so we are happy that this aspect of the change agenda has been implemented and this will continue every month,\u201d Nwankwo said.<\/p>\n

He said the funds realised from the offer will be used to fund the budget deficit, and refinance matured existing\/domestic bonds.<\/p>\n

He said the bond refinancing makes it possible for the FGN Savings Bond to continue in perpetuity, and on monthly basis. \u201cThe April 2017 offer will coming up on April 3, and it will continue every first week of the month. Nigerians will continue to benefit from the FGN Bonds. We congratulate the NSE for their continued initiative and operation for helping to make the listing a success,\u201d he said.<\/p>\n

He said the Savings Bond has helped the ordinary Nigerians to participate in the capital market which creates benefits that will accrue to their investments.<\/p>\n

\u201cWhat the Federal Government has done through the FGN Savings Bond is to make this opportunity not only for the big investors from pension firms or banks to be part of it, but also for the ordinary man on the street to participate.<\/p>\n","protected":false},"excerpt":{"rendered":"

\u2022 N2.067b Savings Bond listed on NSE The Debt Management Office (DMO) has reiterated Federal Government\u2019s commitment to ensuring that people at the grassroots benefit from investment and growth potentials in the economy. Its Director-General, Dr. Abraham Nwankwo, who spoke during the listing of N2.067 billion Federal Government of Nigeria (FGN) Savings Bond on the …<\/p>\n","protected":false},"author":11,"featured_media":12019,"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":[812],"coauthors":[2392,2393],"class_list":["post-12018","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-news","tag-dmo"],"yoast_head":"\nFed Govt committed to grassroots\u2019 economic growth, says DMO - 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\/fed-govt-committed-to-grassroots-economic-growth-says-dmo\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fed Govt committed to grassroots\u2019 economic growth, says DMO - National Wire\" \/>\n<meta property=\"og:description\" content=\"\u2022 N2.067b Savings Bond listed on NSE The Debt Management Office (DMO) has reiterated Federal Government\u2019s commitment to ensuring that people at the grassroots benefit from investment and growth potentials in the economy. 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