FG Lists N368.3bn Bond On NGX, Issues N234bn Supplementary Bonds

The Federal Government of Nigeria (FGN) has officially listed a N368.3 billion bond on the Nigerian Exchange Limited (NGX), along with an additional N234 billion in supplementary bond issuances.

The move strengthens Nigeria’s debt market and provides investors with more opportunities to engage with government-backed securities.

A notice filed by the NGX’s Head of Issuer Regulation, Mr. Obioma Oge, confirmed that the newly listed bond, designated 22.60 percent FGN JAN 2035, and comes with a 22.60 percent coupon rate and a 10-year tenor, maturing on January 29, 2035. Investors will receive coupon payments twice a year, on July 29 and January 29.

In addition to this listing, the federal government expanded the outstanding units of two previously issued bonds. The 19.30 percent FGN APR 2029 bond saw 78.86 million new units issued, increasing total outstanding units to 463.16 million. Similarly, the 18.50 percent FGN FEB 2031 bond recorded an addition of 153.87 million new units, pushing its total outstanding units to 2.11 billion.

Meanwhile, the NGX reported that total FGN Savings Bond allotments have reached N5.06 billion within the first five months of 2023, underscoring a growing appetite for government securities among investors.