FEDERAL GOVRNMENT OF NIGERIA SAVINGS BOND

 

The Debt Management Office (DMO) of Nigeria, on behalf of the Federal Government of Nigeria, has launched a new 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. 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. 

1. The coupon/interest income from the Savings Bond are tax-free.
2. The bondholder enjoys coupon/interest on a quarterly basis which is paid directly to his/her bank account
3. It makes it possible for individuals to plan and save towards personal projects.
4. FGN Savings Bonds are liquid as Secondary Market trading will be on the trading platform of the Nigerian Exchange Limited (NGX)
5. The FGN Savings Bond is acceptable as collateral for loans.
6. It offers guaranteed returns, and encourages financial inclusion.

Features

1. Minimum subscription of N5,000 with additions in multiple of N1,000; subject to a maximum of N50 million.
2. Fixed coupon will be paid quarterly to investors.
3. Bond tenors will range from 2 – 3 years’ tenor.
4. It will be issued on a Monthly Basis through an Offer for Subscription.
5. Monthly offer will be open for 5 days from the date of announcement.

Benefits

1. The coupon/interest income from the Savings Bond are tax-free.
2. The bondholder enjoys coupon/interest on a quarterly basis which is paid directly to his/her bank account
3. It makes it possible for individuals to plan and save towards personal projects.
4. FGN Savings Bonds are liquid as Secondary Market trading will be on the trading platform of the Nigerian Exchange Limited (NGX)
5. The FGN Savings Bond is acceptable as collateral for loans.
6. It offers guaranteed returns, and encourages financial inclusion.

How to Invest

Investors are to subscribe through Trading License Holders of NGX accredited by the DMO to act as Distribution Agents. 

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MTN’s N195 billion loss downs the Nigerian Stock Exchange

 TotalEnergies Marketing and Presco posted massive gains today in the NGX, gaining 9.98% and 9.97% respectively.

The gains recorded by these stocks took their share prices to N388.90 and N323.20 respectively. 

However, the gains posted by these stocks were unable to offset a 4.04% loss posted by MTN Nigeria, marking a N195.3 billion equity loss by the stock.

The market capitalization of MTN Nigeria slid to N4.63 trillion, from N4.83 trillion at the start of trading.  

The huge loss posted by MTN Nigeria dragged the NGX to a 0.16% loss, as the All-Share Index declined to 99,630.51 points, reflecting a 163.20-point decline from yesterday’s 99,793.71 points.  

There was also a 0.16% decline in the market capitalization, as it declined to N56.362 trillion, from yesterday’s N56.452 trillion. 

In terms of market activities, there was a 7% decline in the number of deals to 8,057, from yesterday’s 8,657. There was also a 12% decline in turnover volume to 848.943 million shares, from yesterday’s 963.541 million shares.  

Market highlights

One stock that has continued to garner attention is Fidelity Bank Plc, which recorded a turnover volume of 605.257 million shares.

Today, Fidelity Bank continued as the top traded stock with a turnover volume of 293.180 million shares.  

Another stock that captured market attention was Nigerian Breweries Plc with a turnover volume of 101.584 million shares, as well as a 3.57% gain. It cannot be speculated whether this rush is linked to the announced takeover of Guinness Nigeria by Tolaram.  

Zenith Bank, with a 0.57% increase, posted a turnover volume of 74.278 million shares. There was sell pressure on Ecobank Transnational, as the stock declined by 2.47% with a turnover volume of 62.457 million shares.  

Access Holdings gained 1.85% and recorded a turnover volume of 51.901 million shares.  

In terms of turnover value, Fidelity Bank, which gained 2.04%, recorded N2.93 billion, followed by Nigerian Breweries with a turnover value of N2.91 billion.  

Zenith Bank posted a turnover value of N2.57 billion, while Seplat with a 0.26% gain, recorded a turnover value of N1.80 billion. Ecobank Transnational posted a turnover value of N1.48 billion.  

The top gainer in the market was TotalEnergies, with a 9.98% gain to close at N388.90. This week, TotalEnergies has gained 20.96%, after beginning the week at N321.50.  

Presco Plc followed with a 9.97% gain, and UPDC gained 9.62%. FTN Cocoa Processors gained 9.65%, Chams HoldCo gained 9.47% and Linkage Assurance gained 9.09%.  

The top loser in the market was NASCON which lost 9.09%, while Thomas Wyatt shed 9.66%, followed by May and Baker which lost 7.13%. C&I Leasing lost 6.67%, Consolidated Hallmark lost 4.17%, and MTN Nigeria lost 4.04%.  

SWOOTs and FUGAZ Update 

During the day, the big stocks recorded mixed trading sentiment, as Zenith Bank, GTCO, and Seplat posted 0.57%, 2.63%, and 0.26% gains respectively. While MTN Nigeria posted a 4.04% loss.  

Other members of the SWOOTs category, Airtel Africa, BUA Cement, BUA Foods, Geregu Power, Transcorp Power, and Dangote Cement posted no price changes.  

The top tier banking stocks also enjoyed a bullish ride, however, FBN Holdings posted a 0.43% loss. UBA, GTCO, Access Holdings, and Zenith Bank posted 0.23%, 2.63%, 1.85%, and 0.57% gains respectively.  

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