To promote investor participation in Nigeria’s capital market, and enhance secondary market, Nigerian Exchange Limited (NGX) in collaboration with Afrinvest is set to host market stakeholders in a virtual workshop on FGN savings bonds.
The event, slated for Thursday, May 25, was aimed at bringing retail investors, trading license holders and regulators in the Nigerian capital market under a common forum to create awareness of the FGN savings bond product and enhance participation and liquidity of FGN bonds in the secondary market.
The bond webinar is expected to deepen the savings culture among retail investors; reduce the barrier to contributing to national development for all Nigerians irrespective of income level; provide insights that will enable participants to benefit from the favourable returns available in the capital market; and improve the liquidity of the bond in the secondary market.
DMO, on behalf of the Federal government, had launched a retail investment programme – the ‘Federal Government of Nigeria (FGN) Savings Bond’, to help enhance the savings culture among Nigerians while providing all citizens irrespective of income level, an opportunity to contribute to national development; as well as the comparatively favourable returns available in the capital market.
According to NGX, the FGN savings bond is safe and backed by the full faith and credit of the Federal Government of Nigeria, with quarterly coupon payments to bondholders.
NGX recorded N11.23 billion in FFN bond listings which constituted FGN savings bonds with maturities ranging between 2024 and 2026.
Lagos State Government issued the only bond by a sub-sovereign entity with its N137.33 billion series 1V, 10-year 13 per cent, Fixed Rate Bonds due 2031 under its N500 billion debt issuance programme.
The corporate bond segment recorded N112.4 billion senior unsecured bond listing from Dangote Industries Funding Plc and N31.36 billion in Sukuk Issuances from Taj Bank and Family Homes under their respective Sukuk Issuance programmes.
The exchange stated further that, Meristem Stockbrokers Limited topped the chart of the fixed income transactions in the first quarter of 2023 by value as they accounted for 16 per cent of the total value of trades with N143.7 million in trades.
NGX added that other firms in the top five were Arthur Stevens Asset Management (N132.91 million ), APT Securities (86.94ml million ), SMADAC Securities (82.21 million) and Apel Asset Ltd (59.15 million).
Meanwhile, FMDQ Exchange has admitted CardinalStone Partners Limited ₦20.00 billion Commercial Paper (‘CP’) Programme on its Platform.
CardinalStone Partners Limited (the issuer’) is a multi-asset investment management firm that provides services encompassing financial advisory, asset management, securities trading, share registration, and consumer finance on a retail and institutional scale.
According to the exchange, the CP Programme, which is sponsored by FBNQuest Merchant Bank Limited (Lead Sponsor); Emerging Africa Capital Advisory Limited, CardinalStone Partners Limited, FCMB Capital Markets Limited and United Capital PLC (Co-Sponsors), all registration members (Quotations) of the exchange, allows the issuer to efficiently raise short-term finance from the Nigerian debt markets, through CP issues, within the CP Programme limit.
The exchange noted that the successive and successful admittance of the securities listed and quoted so far in the year 2023, following the due approvals obtained, attests to the efficient and uniquely tailored listing and quotation services offered by FMDQ exchange.
FMDQ Group is Africa’s first vertically integrated financial market infrastructure (FMI) group, strategically positioned to provide registration, listing, quotation and noting services; integrated trading, clearing & central counterparty, settlement, and risk management for financial market transactions;
depository of securities, as well as data and information services, across the debt capital, foreign
exchange, derivatives and equity markets, through its wholly-owned subsidiaries.
The bond webinar is expected to deepen the savings culture among retail investors; reduce the barrier to contributing to national development for all Nigerians irrespective of income level; provide insights that will enable participants to benefit from the favourable returns available in the capital market; and improve the liquidity of the bond in the secondary market.
DMO, on behalf of the Federal government, had launched a retail investment programme – the ‘Federal Government of Nigeria (FGN) Savings Bond’, to help enhance the savings culture among Nigerians while providing all citizens irrespective of income level, an opportunity to contribute to national development; as well as the comparatively favourable returns available in the capital market.
According to NGX, the FGN savings bond is safe and backed by the full faith and credit of the Federal Government of Nigeria, with quarterly coupon payments to bondholders.
NGX recorded N11.23 billion in FFN bond listings which constituted FGN savings bonds with maturities ranging between 2024 and 2026.
Lagos State Government issued the only bond by a sub-sovereign entity with its N137.33 billion series 1V, 10-year 13 per cent, Fixed Rate Bonds due 2031 under its N500 billion debt issuance programme.
The corporate bond segment recorded N112.4 billion senior unsecured bond listing from Dangote Industries Funding Plc and N31.36 billion in Sukuk Issuances from Taj Bank and Family Homes under their respective Sukuk Issuance programmes.
The exchange stated further that, Meristem Stockbrokers Limited topped the chart of the fixed income transactions in the first quarter of 2023 by value as they accounted for 16 per cent of the total value of trades with N143.7 million in trades.
NGX added that other firms in the top five were Arthur Stevens Asset Management (N132.91 million ), APT Securities (86.94ml million ), SMADAC Securities (82.21 million) and Apel Asset Ltd (59.15 million).
Meanwhile, FMDQ Exchange has admitted CardinalStone Partners Limited ₦20.00 billion Commercial Paper (‘CP’) Programme on its Platform.
CardinalStone Partners Limited (the issuer’) is a multi-asset investment management firm that provides services encompassing financial advisory, asset management, securities trading, share registration, and consumer finance on a retail and institutional scale.
According to the exchange, the CP Programme, which is sponsored by FBNQuest Merchant Bank Limited (Lead Sponsor); Emerging Africa Capital Advisory Limited, CardinalStone Partners Limited, FCMB Capital Markets Limited and United Capital PLC (Co-Sponsors), all registration members (Quotations) of the exchange, allows the issuer to efficiently raise short-term finance from the Nigerian debt markets, through CP issues, within the CP Programme limit.
The exchange noted that the successive and successful admittance of the securities listed and quoted so far in the year 2023, following the due approvals obtained, attests to the efficient and uniquely tailored listing and quotation services offered by FMDQ exchange.
FMDQ Group is Africa’s first vertically integrated financial market infrastructure (FMI) group, strategically positioned to provide registration, listing, quotation and noting services; integrated trading, clearing & central counterparty, settlement, and risk management for financial market transactions;
depository of securities, as well as data and information services, across the debt capital, foreign
exchange, derivatives and equity markets, through its wholly-owned subsidiaries.
