DMO takes FGN savings bond sensitisation to Benue

The Debt Management Office (DMO) on Thursday, advised Benue people to invest in Federal Government securities to get regular income.

DMO’s Director-General, Patience Oniha, made the call at a one day awareness programme on “Investment opportunities in FGN Securities” in Makurdi.

Oniha, who was represented by the Head of Control and Audit, Mr Mohammed Isiaku.

She said that the Federal Government had studied the individual investment preferences in the country and came up with the investment securities that would appeal to the individual investors.

The director-general outlined the various instruments of the FGN securities as FGN bonds, Nigerian Treasury Bills, FGN Sukuk, Green Bonds and FGN savings bond

She said that by investing in FGN savings bonds, individuals would have regular income cash flow either quarterly or semi-annually, which would come in interest or coupon forms.

She reiterated the fact that the FGN savings bond was default risk-free and enjoyed tax exemption.

“Everybody can invest in the FGN savings bond with as little as N5,000, even the low income earners can enjoy the opportunity of investing from what they earn.

“We are here to tell you that having FGN savings bond is a lifetime achievement and as time goes on, you can top up your bonds and even decide to save for your children or relatives,” Oniha said.

She further gave assurance that no matter what happened, investment in any of the FGN securities was safe.

“This investment is a risk free investment and it is backed by the full faith and credit of the Federal Government, and the cash flow can help you to pay rent, school fees and even carry out a projects”. she said.

She said the DMO was created to help the government to raise funds for capital projects.

According to Richard Akinmoladun, a stockbroker from CSL Stockbrokers Limited, the stockbroking firm for the Federal Government, the major benefit of the FGN securities is that it is safe.

Akinmoladun said investors can use the FGN savings bond to obtain loan from banks, as it is a steady income that one can liquidate anytime by contacting his/her stockbroker.

It was reported that the FGN securities Issuance Awareness programme is a collaborative effort between the DMO and CSL.

It was inaugurated in Lagos in March 2022, and has also been taken to Enugu, Ibadan, Kano, Yola, Umuahia, Benin, Port Harcourt, Uyo, Abeokuta, Gombe, Oshogbo, Asaba and Maiduguri.