Nigeria’s green bond market grew at N49.19bn – GCFRNG

Nigeria’s green bond market grew at N49.19bn – GCFRNG

The price of Nigeria’s green bonds has grown by 49.19 billion naira, marking four issues in the last three years since the federal government released it in 2017.

The CEO of Nigerian Exchange Limited (NGX) Mr. Temi Popoola, revealed this in a merchant webinar entitled: “Sukuk and Green Bonds: Not just Investing”, organized by the exchange.

In 2017, NGX partnered with the Ministry of Finance and other stakeholders to launch the first phase of the Climate Bond Initiative worth N10.69 billion.
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This follows the 15 billion Series II green ownership in 2019, which recorded a 220 per cent subscription rate of N17.93 billion subscribers.

The other is N15 billion 15.5% five years plus additional unsecured Green Bond provided by Access Bank of Nigeria Plc; and N8.5 billion 15.6% over the 15 years funded by the North South Power Company (NSP).

Speaking at the event, Popoola said the potential for sukuk and green leafy vegetables is still huge and could expand into the years of new customers, products and importers and the appetites that ensue. money has strong health.

He assured that NGX will continue to promote development and strategy that will promote the growth of the market, saying: “The transformation will continue to provide investors with a market capitalization and the quality and supply of water in Africa, preserving and accessing standards and Sustainable. Introductory Governance (SDG) key investment complaint and investment. We promise to work with all marketers to promote this exciting classroom, and ultimately for the growth of green and sukuk bonds in Nigeria and Africa. in general. “

Mr Adamu Mohammed, deputy chief financial officer of the Department of Securities, Debt Management (DMO), said investors were showing increasing interest in bonds. green bond and subscription rates for green bonds are up 220 percent in 2019.

Giving a paper titled: “Harnessing Green Bond as a tool for personal growth”, Mohammed said: “Investors are keen to invest in public relations and show strong demand for green bonds which showed that the subscription rate in Nigeria green bonds is increasing by 220 per cent. in 2019 more than 110 per cent in the first edition.

“The green color in the sukuk segment of the market is a unique and astonishing factor that can deepen the economic system while promoting economic growth, making this discussion be the right time. “

The first bank to launch the LIT app, supporting the decision to put customers first

Continuing its commitment to pioneering mobile digital trading in Nigeria, First Bank of Nigeria Limited has announced the launch of the LIT application, which is designed to transform the culture and experience of mobile banking in Nigeria.

Modern banking applications are the first of its kind in the industry, exposing customers to more opportunities to improve their security, quality while striving to be on the edge of the digital banking world today. It is a mobile banking application developed and owned by the bank and designed with many interesting features to meet the needs of its powerful customers.

The LIT app is not only for payday loans, cash transfers or airtime repayments, but also has many other interesting features that replicate the bank’s decision as it expands its digital infrastructure to improve relationships with customers, no matter where they may be. across the world.

These functions of the LIT application include: multiple deliveries that allow customers to select multiple beneficiaries at the same time for a single transfer; the opportunity to open an account for non-customers as well as account management, helping clients identify their social managers for immediate assistance, if the need arises.

In addition, customers can issue a bank statement with the option to download as a pdf or send an email message where they receive the receipt as required. With the LIT application, customers are able to register and manage their complaints without having to go to the domain. The LIT app is not only for use but rewards as users (customers) are paid for using the app.

Expressing his happiness, Dr. Adesola Adeduntan, CEO, First Bank of Nigeria Limited said that “the LIT application is designed to strengthen our commitment to our customers, ensure their financial security continues and provide them with access. change and transformation mainly.in the digital world today.The development of applications is necessary to ensure that our customers have their many ways with which we can interact seamlessly.

The LIT app is a new addition to the Bank’s robust electronic banking family, with others being the multiple global award-winning FirstMobile, *894# USSD Banking, FirstOnline internet banking, WhatsApp chat banking, amongst many others.”

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