DMO offers 2 new FG savings bonds for subscription at N1

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DMO offers 2 new FG savings bonds for subscription at N1

The Debt Management Office (DMO), on Tuesday, opened two new Federal Government of Nigeria’s savings bonds for subscription at one Naira per unit.

According to information obtained from the DMO’s official website, one is a two-year savings bond due on April 14, 2023, at an interest rate of 5.522 per cent per annum.

The second offer is a three-year bond due on April 14, 2024, at an interest rate of 6.522 per annum.

The bonds are opened at N1 per unit, with a minimum subscription of N5000 in multiples of N1000 thereafter and subject to a maximum of N50 Million.

“The bonds qualify as securities in which trustees can invest under the Trustee Investment Act.

“It is backed by the full faith and credit of the Federal Government of Nigeria and charged upon the general assets of Nigeria,’’ DMO explained.

It urged interested investors to contact the stock-broking firms appointed as distribution agents by the DMO.


Onyema completes tenure as CEO, NSE

Mr. Oscar Onyema, has now completed his tenure as the Chief Executive Officer (CEO) of The Nigerian Stock Exchange.

In commemoration of his exemplary leadership, he was honoured with a digital Closing Gong Ceremony on Thursday, 1 April 2021.

Following the successful demutualisation of The Exchange, Mr. Onyema has transitioned into the Group Chief Executive Officer (GCEO), Nigerian Exchange Group (NGX Group) Plc.

Speaking at the Closing Gong Ceremony, the Chairman, Nigerian Exchange Group (NGX Group) Plc, Otunba Abimbola Ogunbanjo stated that Onyema had made significant contributions to the growth of The Exchange and the development of the capital market in the past ten years.

“ After his first year of leadership, it became evident that his strategic mindset and mastery of Exchange business was what NSE dearly needed to rise to its next level of growth.

“As anticipated, The Exchange went on to experience significant growth as the years went by, most notable of which is the recent completion of the demutualisation of The Exchange. It has indeed been a pleasure working with him in our time at the NSE and I look forward to our continued journey to greatness in the NGX era.”, he said.

The GCEO, NGX Group Plc, Mr. Oscar Onyema, recalled he arrived at The Nigerian Stock Exchange when the stock market was in the doldrums, investors’ confidence low and mono product.

“I am delighted to have worked with the astute members of the National Council, visionary leaders in the Executive Committee and expert crop of staff at The Exchange to have delivered excellent results. We have come a long way from where we used to be and I am excited about the opportunities demutualisation has opened for us in the coming years. I must reiterate my commitment to ensuring that the NGX Group Plc and its subsidiaries deliver on the mandate to become Africa’s leading capital market infrastructure provider. I look forward to deepening partnerships with existing stakeholders and exploring new collaborations locally and globally to bring this to bear”, Oscar said.

The demutualisation of The Exchange has led to the emergence of the Nigerian Exchange Group (NGX Group) Plc and three subsidiaries – Nigerian Exchange (NGX) Limited, NGX Regulation (NGX RegCo) Limited and NGX Real Estate (NGX RelCo) Limited. Mr. Temi Popoola, CFA will assume the role of CEO, NGX Limited, while Ms. Tinuade Awe will become the CEO, NGX RegCo Limited.


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