FG RAISES N7BN FROM SAVINGS BOND IN 10 MONTHS
source : http://www.eyesoflagos.com/2017/12/fg-raises-n7bn-from-savings-bond-in-10.html

The federal government has raised a total sum of N7.3 billion in the past 10 months from its savings bond introduced in March 2017 to boost domestic investors’ participation in the bond market.
The government, this year, planned to use the savings bond to finance the budget deficit but investors’ appetite for investment in the savings bond diminished in the fourth quarter of 2017.
The December allotment figure shows that N246.41 million had been raised, which is the lowest savings bond the Debt Management Office (DMO) generated this year over drop in coupon rate.
Analysts attributed the drop in savings bond coupon to improved macro economy.
The Managing Director, Highcap Securities Limited, Mr. David Adnori said, “The savings bond coupon rate dropped due to improvement in macro economy as interest rate is on decline in the economy. Rates on bonds and Treasury Bills (T-Bills) are all declining”.
The coupon rate allocated were 11.738 per cent for FGNSB DEC 2019, which is a two-year bond and 12.738 per cent for FGNSB DEC 2020, representing a three-year bond.
For November allotment, the figures show that N256 million had been raised through 12.091 per cent (FGNSB NOV 2019) two-year bond and 13.091 per cent (FGNSB NOV 2020) three-year bond.
Subscription in November was the second lowest as investors’ appetite started dropping.
Before November and December, the average coupon rate on FG’s savings bond was pegged at an average 12 per cent to 13 per cent, with a two-year and three -year bonds.
In October, the saving bond allotment dropped by 5.6 per cent to N389.19 million from N412.7 billion, following the slowdown in coupon rates.
The coupon rate assigned to a FGNSB OCT 2019 and FGNSB OCT 2020 in October was at 12.059 per cent and 13.059 per cent respectively, while in September, the coupon rate was at 13.817 per cent (FGNSB SEP 2019) and 14.817 per cent (FGNSB SEP 2020)respectively.
Before the last quarter of 2017, there was increased participation at the debt market in the first quarter as demand for T- Bills, FGN Bonds and the Savings bond increased relative to supply
Specifically, in March the debt office had raised N2.068 billion from the 13.01 per cent two years debt with 2,575 total number of successful subscriptions.
According to Eyes Of Lagos findings, data from Debt Management Office (DMO) showed that the initial auction of the savings bond still had the largest participation in the first quarter and started dropping in the second and third quarter.
At the end of first quarter in April, DMO raised N1,288.02 billion that comprises of N419.33million and N868.69 million for a 12.794 per cent and 13.794 per cent, two- year and three-year savings bond respectively.
In May, it raised N791.15 billion with yields rising to 13.189 per cent for the two-year paper and 14.189 per cent for the three-year allotment.
The yield remained the same in June but the amount raised dropped to N607.26 million.
However, an increased yield failed to spike interest in July, as only N400.57 million was raised from the two-year and three-year paper, although the yield for the papers were raised to 13.386 and 14.836 per cents respectively.
By August, investors’ interest in the savings bond increased along with the yield offered.
The two-year bond was offered at 13.535 per cent, while the three-year Savings bond was offered at 14.535 per cent, just as the DMO was able to raise N738.14 million through the Savings Bond.
Analysts maintained that many retail investors traded with caution following the yuletide celebration, while some diverted funds to the equity market, foreign exchange market, as yield on savings bond and T-Bills are not attractive.

GOOD DEVELOPMENT

These goats think you can tell a hungry man there is plenty of food without him getting any and he will be happy. Useless paper progress

Is that why we don’t have fuel? Mumu Fg

What the money will be used for is more important to me than when, how or where it was raised

I would really like to see all these monies saved on papers translate to bettering the lives of the citizens in reality

Okay

.

After dev mortgage the future of the incoming generation by borrowing to even to fuel their convoys.....And for those of u still supporting this act of wickedness ......may God run una lives the way Buhari is running this country

∆ ∆

okay

H

Good one. If it were goatluck thieves na to de spend and embezzlement. We didn't hear savings for goatluck era, na just spend and spend like the prodigal son.
This is transparency, given the amount and details of how it was realised.
The yestern ipob cursed generations will never like this

ok

corrupt government, one of them go still embezzle the money, we no go hear last about the money

Nice one. We need to start making more than we spend. Nigeria will be great again.
Sai Buhari!

ManirBK:
GOOD DEVELOPMENT

You dumb boy

He really try but we need more

Dollar as to fall

Hmm

This is a form of debt.

dahunsy:
After dev mortgage the future of the incoming generation by borrowing to even to fuel their convoys.....And for those of u still supporting this act of wickedness ......may God run una lives the way Buhari is running this country

1.Borrowing happened under GEJ regime.

2.Want to know why...Nigeria needs oil to be at $123 per barrel to live sans borrowing.

3. GEJ had oil at 94-120. Bubu had oil at 28-70 USD.

4.Tell me, how do you expect to fund the budget when oil money isn't enough.

5.And even then, Bubu took your savings from $28bn to $34 bn with low oil prices....is that not savings for future generations.

6.If you want a stable economy, vote for leaders who will industrialise nigeria....not APC or PDP

brainpulse:
Good one. If it were goatluck thieves na to de spend and embezzlement. We didn't hear savings for goatluck era, na just spend and spend like the prodigal son.
This is transparency, given the amount and details of how it was realised.
The yestern ipob cursed generations will never like this

GEJ had to spend part of the savings because Nigerians refused to have oil subsidy removed....hence we had to spend billions funding a subsidy on mostly imported expensive fuel

ok nice please rate my design

All these propaganda figures mean nothing until companies who went out of business came back and those who downsized re-employed the number downsized and the poor man in the street feels the effect of it in his pucket, business and savings.

We hear but address our problems

9jakohai:


GEJ had to spend part of the savings because Nigerians refused to have oil subsidy removed....hence we had to spend billions funding a subsidy on mostly imported expensive fuel

With all the monies that could build another refinery. You no get excuse for your thief boss

So what should we now do about that now?

brainpulse:
With all the monies that could build another refinery. You no get excuse for your thief boss

I dont care for GEJ, but if we had removed subsidies in 2012...we might have had more investment flowing into the oil sector from that date....enough to fund more refineries.

AndGEJ's govt, messed up though it was, did help Dangote get the $6billion in extra funding from international banks, etc needed to build that his refinery.

That's all we've been hearing, abeg person wey never chop belleful dey get reserve?

Incorporate or register your business/company name with corporate affairs commission through accredited professional with track records; also do your TIN NO; business permit,quota & visa renewal for expatriate,international passport processing within 5 days.

Call Isaac Johnson on 08080261582 & 07034672434(WhatsApp)
Bbm:D88A149E