FGN Savings Bond Designed to Favour the Poor – DMO DG

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By David-Chyddy Eleke in Awka

The Director General of the Debt Management Office (DMO), Mr Abraham Nwankwo, has stated that the new Federal Government of Nigeria Savings Bond (FGNSB) is designed purposefully to favour the poor and give them a stake in government.

The director general was addressing leaders of market unions and leaders of middle income earner organisations in an advocacy/sensitisation workshop on the FGN Savings Bond in Onitsha.

He said that over the years, the federal government has issued bonds, but it remained elitist bonds, which were sold as wholesale bonds to privileged individuals, corporate companies and organisation.

“All these super rich individuals bought it as wholesale bond, but the difference we have in the FGNSB is that we are making these bond available to the ordinary Nigerians,” he said.

Details later…