The federal government at the weekend listed the October tranches of its monthly savings bonds on the Nigerian Exchange (NGX), paving the way for the general investing public to trade on the bonds.

Two tranches of the monthly Federal Government of Nigeria Savings Bonds (FGNSBs) were listed at par value at the NGX. Government listed a 2-Year FGN Savings Bond due October 13, 2023 at a coupon of 6.899 per cent per annum.

It also simultaneously listed a 3-Year FGN Savings Bond due October 13, 2024 at coupon of 7.899 per cent per annum. A total of 66,455 units of the 2-year bond and 248,951 units of the 3-year bonds were listed at par aloe of N1000 per unit.

The October issuance is the 52nd issue of the savings bond, which was introduced in 2017. The federal government had cut coupon on the October issuance of savings bonds by more than one basis points.

Government had offered its 2-Year FGN Savings Bond due September 15, 2023 at a coupon of 7.92 per cent per annum while the 3-Year FGN Savings Bond due September 15, 2024 was offered at a coupon of 8.92 per cent per annum.