The Federal Government has listed its April 2024 Savings, FGS, Bonds worth N4.2 billion on the Nigerian Exchange Limited platform, NGX.
In a market bulletin, the Head of the Issuers Regulation Department of NGX, Godstime Iwenekhai, said the Bonds include FGS April 2026, 1.2 million units valued at N1.2 billion at a coupon rate of 17 percent, while FGS April 2027, 2.9 million units amounted to N2.9 billion at a coupon rate of 18 percent.
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The bonds are backed by the full faith and credit of the Federal Government of Nigeria and charged upon the general assets of Nigeria, according to the debt office.
The FGN Savings Bond is issued monthly in tenors of two and three years with quarterly payment of coupons (interest) at a rate predetermined and published by the Debt Management Office, DMO, every month.
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