The Debt Management Office says it is impressed at the response of investors to its awareness programme on the benefits of investing in Federal Government of Nigeria (FGN) securities.
Mrs Jumai Saidu-Ahmed, the Team Leader, Domestic Debt Unit of the DMO said this on Thursday on the sidelines of the FGN Securities Issuance Awareness Programme in Kaduna.
According to Saidu-Ahmed, the programme is a collaborative effort between the DMO and CSL Stockbrokers Limited, the stockbroking firm of the Federal Government.
“It has contributed in no small measure to enlightening potential Nigerian investors on the benefits of investing in FGN securities,” she said.
She said that the improved response from investors to the various FGN securities offer like the recently offered FGN bond. FGN savings bond and the Sukuk was proof that the awareness had been impactful.
She said that the DMO was determined to sustain the awareness programme to ensure that every Nigerian across the length and breadth of the country benefitted from the lucrative investment opportunities.
Also speaking, Ukwunna Ifeoma Ukwunna, Head, Retail Business at CSL, said that response to the awareness programme had been very encouraging.
According to Ukwunna, investors need information because they care about safe investment and for the opportunity to engage capital market operators on issuance of these FGN securities.
“Also, the feedback from investors has been encouraging.
“Capital raised from FGN savings bond has also grown significantly due to the impact of these awareness programmes,” she said.
BRANDPOWER reports that the FGN Securities Issuance Awareness Programme was innaugurated in Lagos in March, 2022.
It has also been held in Enugu, Ibadan, Kano, Yola, Umuahia, Gombe, Osogbo, Port Harcourt, Benin, Uyo, Asaba, Maiduguri, Abeokuta, and Makurdi.
The DMO was established on 4th October, 2000 to centrally coordinate the management of Nigeria’s debt, which was hitherto being done by a myriad of establishments in an uncoordinated fashion. This diffused debt management strategy led to inefficiencies. For instance, in the FMF alone, four different departments have functions for the management of external debt in the following format:
