Nigeria’s August bond auction oversubscribed as investors wager N100bn FGN bond
Adesola Afolabi
August 16, 2018
Nigeria’s Debt Management Office (DMO) said subscribers staked more than N100 billion at the August 2018 FGN bonds auction conducted Wednesday. According to the debt office, although it offered N90 billion bonds as part funds to be raised in financing the country’s 2018 budget, investors oversubscribed the offer by more than N10 billion. “The FGN […]
18th FGN savings bond offer closes August 10
Adesola AfolabiAugust 8, 2018
The eighteenth tranche of the Federal Government of Nigeria Savings Bond (FGNSB), which began Monday, will close Friday, August 10, 2018. The August 2018 offer is a 2 and 3-year tenor bond with a yearly interest rate on the 2year FGNSB set at 10.668 percent while the interest rate on the 3year FGNSB is 11.668 […]
FirstBank obtains approval to redeem $300m bond
Afolabi OluwaseunAugust 8, 2018
First Bank Nigeria Plc., have announced payment to bondholders in a bid to redeem its $300 million 8.25 percent subordinated notes, which was issued in 2013 having obtained the necessary approval. The announcement comes as a follow up to a notice given on Friday 6th July 2018 to FBN Finance Company B.V. stating the bank’s […]
Nigeria to become leading investment destination in Africa with N10.69bn green bond listing
Adesola AfolabiJuly 19, 2018
The N10.69 billion worth of federal government of Nigeria (FGN) green bond scheduled to be listed on the Nigerian Stock Exchange on Friday, July 20 has been described by market operators as an opportunity to launch Nigeria as the leading investment destination in Africa. Operators who spoke to news reporters in Lagos while reacting to […]
Nigeria’s business leaders consider green bond development programme as FMDQ, FSD, CBI launch 3-year initiative
Businessam StaffJune 8, 2018
By Oluwaseun Afolabi A 3-year Nigerian green bond market development programme, developed by FMDQ, in partnership with the Financial Sector Deepening Africa (FSD) and Climate Bonds Initiative (CBI) has been launched to create awareness and drive education required to integrate the principles of green financing into the Nigerian debt capital markets. Explaining the initiative behind […]
Nigeria raised N50.45bn from bonds auction in May
Businessam StaffMay 24, 2018
The Nigerian government has raised N50.45 billion from its May bonds auction, about N20 billion lower than the N70 billion raising targeted, according to the Debt Management Office (DMO). The auction results for the 12.75% FGN APR 2023 (Re-opening 5-year Bond), 13.50% FGN MAR 2025 (Reopening 7-Year Bond) and 13.98% FGN FEB 2028 (Re-opening 10-Year […]
DMO opens FGN May savings bonds offer
Joel EneogweMay 7, 2018
The Federal Government on Monday opened its May savings bonds’ offer, the Debt Management Office (DMO) said. According to the offer circular obtained from DMO’s website, it offered the two-year bonds at 9.48 percent and the three-year bonds at 10.48 percent. The two-year bonds would be due in May 2020, while the three-year bonds would […]
Wema Bank to issue second tranche of N50bn bond in May to boost capital ratio
Businessam StaffApril 18, 2018
Wema Bank plans to start issuing the second tranche of a Tier II capital increase from next month, which is part of a N50 billion ($159 million) programme, Ademola Adebise, its deputy chief executive said on Wednesday. Adebise said the mid-tier bank hoped to boost its capital ratio, which is at 14.3 percent, higher than […]
Nigeria’s DMO strengthens financial market, lists $278m sukuk bonds at NSE
Businessam StaffApril 11, 2018
Nigeria’s Debt Management Office has listed N100 billion, $278 million, 7-year, federal government Ijarah Sukuk with a rental rate of 16.47 percent on the floor of the Nigerian Stock Exchange. Patience Oniha, the director-general, DMO, said the listing of the FGN Ijarah Sukuk bond is about financial inclusion and deepening of the country’s financial market. […]
Nigeria’s central bank backs Crownrise Finance’s N1bn bond in debt market
Businessam StaffApril 2, 2018
Crownrise Finance Plc, a non-banking financial institution, has gotten support from the Central Bank of Nigeria over the intention to float a N1 billion bond in the Nigerian debt market, which will be available to investors this month according to report. CBN described the move as a laudable achievement. While congratulating the board, management and staff […]