- DMO lists two savings bonds for subscription in October
Trading on the floor of the Nigerian Exchange Limited kicked off the week on a positive note as buying interest in the shares of FIDELITY BANK, UBA and DANGSUGER drove the All-Share Index higher by 0.19 percent, to close at 97,706.70 points.
This upward movement translated to increased market capitalization, which also rose by 0.19 percent, reaching ₦56.15 trillion and adding ₦107 billion to investors’ portfolios. Consequently, the year-to-date (YTD) return improved to 30.67 percent.
Most sectors performed positively, with the banking, consumer goods, and oil/gas sectors recording gains of 0.81 percent, 0.40 percent, and 0.22 percent, respectively. In contrast, the insurance and industrial goods sectors saw declines of 0.50 percent and 0.14 percent.
The trading day concluded with 28 stocks advancing and 24 declining. Notable gainers included FIDELITY BK up by 10.00 percent, ABCTRANS 9.76 percent, LIVESTOCK 9.76 percent, REGALINS 8.70 percent and ELLAHLAKES 8.44 percent. Conversely, the worst performers were SCOA, BERGER, TRIPPLEG, GUINEAINS, and THOMASWY, which experienced drops of 10.00 percent, 9.95 percent, 9.64 percent, 8.33 percent, and 7.58 percent in their share prices, respectively.
The market recorded robust trading activity, with the number of deals and trading volume rising by 18.95 percent and 308.08 percent, respectively, as 1,308.71 million shares were exchanged across 10,424 transactions. However, the total trading value declined by 1.00%, closing at ₦5.96 billion. TANTALIZER was the most actively traded stock by volume, with 1 billion shares valued at ₦450.6 million traded over 35 transactions, while UBA topped the list in terms of value traded.
DMO lists two savings bonds for subscription in October
The Debt Management Office has offered two Federal Government of Nigeria bonds for subscription in October at N1, 000 per unit.
According to a statement issued by DMO, the first offer is two-year FGN savings bonds due on October 16, 2026 at an interest rate of 17.084 per cent per annum.
The second offer is a three-year FGN savings bond due on October 16, 2027, at an interest rate of 18.084 per cent per annum.
The opening date for the offers is October 7, with closing date set for October 11, settlement date October 16, while coupon payment dates are January 16, April 16, July 16 and October 16.
“They are offered at N1,000 per unit subject to a minimum subscription of N5,000 and in multiples of N1,000 thereafter, subject to a maximum subscription of N50 million.
“Interest is payable quarterly, while bullet repayment (principal sum) is on the maturity date,” DMO said.
The DMO also said that the savings bonds, like all other FGN securities, were backed by the full faith and credit of the Federal Government.
“They qualify as securities in which trustees can invest under the Trustees Investment Act.
“They qualify as government securities within the meaning of Company Income Tax Act and Personal Income Tax Act for tax exemption for pension funds among other investors.
“They are listed on the Nigerian Exchange Limited, and qualify as liquid assets for liquidity ratio calculation for banks,’’ it said.
