NGX lists additional units of FGN Bond

Nigerian Exchange Limited (NGX) has listed on its platform additional units of the Federal Government of Nigeria (FGN) Bonds issued in August 2021. The listing on Wednesday August 25 of additional 104,814,900 units brings the total outstanding units of the 12.98% FGN Mar 2050 to 715,536,872.

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.

Federal Government Bonds are the most liquid and capitalized bonds on NGX. The Federal Government issues bonds in the primary market through the Debt Management Office (DMO) at its monthly auctions and these bonds are subsequently listed on The Exchange for trading. These bonds are backed by the full faith and credit of the Federal Government of Nigeria and are semi-annual, coupon-paying bonds. Income earned on FGN Bonds is tax-free

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.