Nigerian bourse poised to woo more savings bond buyers

The Nigerian Exchange Limited has joined forces with Afrinvest (West Africa) Limited, a capital market holding company, to drive up investment in the federal government’s savings bond. 

The NGX said in a statement that in line with its mandate to promote investor participation in Nigeria’s capital market, it has collaborated with Afrinvest to host market stakeholders to a virtual workshop on FGN Savings Bond.

The virtual event, slated for next Thursday, is aimed at bringing retail investors, trading licence holders and regulators in the Nigerian capital market under a common forum to create awareness on the FGN Savings Bond product, enhance participation and liquidity of FGN Bonds in the secondary market, the bourse said.

It said the workshop will feature capital markets experts including the Director, Market Development at the Debt Management Office, Monday Usiade; the Chief Executive Officer of CSL Stockbrokers, Biodun Fagbulu; the Managing Director of Optimus by Afrinvest, Ayodeji Ebo; and Divisional Head, Capital Markets at NGX, Jude Chiemeka.

Kalu Aja, financial planner and finance influencer, will moderate the scheduled panel session, according to the statement.

It said the 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 benefit from the favourable returns available in the capital market; and improve liquidity of FGN Savings Bond in the secondary market”.

The bond is backed by the full faith and credit of the Federal Government of Nigeria, with quarterly coupon payments to bondholders.

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