Nigeria commences mandatory use of national identity number

In line with federal government directive, the implementation of mandatory usage of the National Identification Number (NIN) has commenced with effect from January 1, 2019, the National Identity Management Commission (NIMC) has announced. At its meeting on September 12, 2018 chaired by President Muhammadu Buhari, GCFR, the Federal Executive Council (FEC) approved the new National […]

Nigeria targets low income earners with September bond offer

NASD, Bond, First Bank, Bond Market, Low income earners

Nigeria’s federal government, through its Debt Management Office (DMO), says its September public bond offer is targeted at low income earners seeking investment opportunities. The government is offering for subscription two-year savings bond at 11.36 percent and three-year savings bond at 12.36 percent, aimed at encouraging savings which is poised to earn more income (interest), […]

18th FGN savings bond offer closes August 10

Bond

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

NASD, Bond, First Bank, Bond Market, Low income earners

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’s business leaders consider green bond development programme as FMDQ, FSD, CBI launch 3-year initiative

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 […]