BY KENNETH EZE
Additional units of the Federal Government of Nigeria Bonds issued in August 2021 have been listed on the platform of the Nigerian Exchange Limited.
The NGX in a statement to the media, Wednesday, announced that the additional 104,814,900 units will bring the total outstanding units of the 12.98 per cent FGN Mar 2050 to 715,536,872.
It stated, “Federal Government Bonds are the most liquid and capitalised bonds on NGX.”
The Point, reports that the Federal Government issues bonds in the primary market through the Debt Management Office at its monthly auctions and these bonds are subsequently listed on The Exchange for trading.
The bonds are backed by the full faith and credit of the Federal Government of Nigeria and are semi-annual, coupon-paying bonds. The fact that income earned on FGN Bonds is tax-free are some of the reasons for their liquid nature.
“NGX continues to thrive as a multi-asset securities exchange providing access to a diversified range of assets including equities, fixed income, Exchange Traded Products (ETPs). Through its vast network of Trading License Holder Firms and an integrated trading platform, NGX provides institutional and retail investors access to one of the most liquid markets in Sub-Saharan Africa,” the statement added.
