By Jennete Ugo Anya
The Debt Management Office (DMO)has urged the residents of Benue to consider investing in federal government (FGN) securities for a steady income.
Ms. Patience Oniha, Director-General (DG) of DMO, did this during a one-day awareness program on ‘Investment opportunities in FGN Securities’ in Makurdi recently .
Represented by Mr. Mohammed Isiaku, Head of Control and Audit, DMO, Ms. Oniha explained that the federal government, having analysed the investment preferences in the country, has designed investment securities tailored to individual investors.
These include FGN bonds, Nigerian Treasury Bills, FGN Sukuk, Green Bonds, and FGN savings bonds.
She stated that investing in FGN savings bonds could provide individuals with regular income in the form of interest or coupons, distributed quarterly or semi-annually.
The FGN Savings Bond, as emphasised by Ms. Oniha, boasts default risk-free status and tax exemption, making it accessible for everyone with a minimum investment of N5,000.
She highlighted the lasting value of holding FGN savings bonds, emphasising the ability to augment investments over time and even designate savings for family members.
She assured that investments in FGN securities are secure, backed by the federal government’s full faith and credit, offering a reliable source of cash flow for various needs.
The DMO, dedicated to funding government capital projects, collaborates with City Stockbrokers Limited (CSL) to promote awareness of FGN securities issuance.
Mr. Richard Akinmoladun, a stockbroker, underlined the safety of FGN securities, highlighting their utility for obtaining loans and ease of liquidation through a stockbroker.
The FGN Securities Issuance Awareness program, initiated in March 2022, spans multiple cities, promoting the benefits of the secure investments nationwide.
