This is to bring to the notice of the public that the Debt Management Office (DMO), on behalf of the Federal Government of Nigeria (FGN), wishes to introduce a retail savings product that will be accessible to all income groups – the FGN Savings Bond.
2 Year FGN Savings Bond
August 14, 2021: Coupon 10.301%per annum
3 Year FGN Savings Bond
August 14, 2022 Coupon 11.301% per annum
Monday, August 5, 2019
Friday, August 9, 2019
Wednesday, August 14, 2019 (this is the date the bonds will be credited into your CSCS Account domiciled with your broker).
Units of Sale
N1,000 per unit subject to a minimum subscription of N5,000 and in multiples of N1,000 thereafter, subject to a maximum subscription of N50,000,000.
Quarterly (Coupon rate divided by 4)
Bullet payment on the maturity date
- To deepen the national savings culture.
- To provide the opportunity to all citizens irrespective of income level to contribute to National Development.
- To enable all citizens to participate in and benefit from the favourable returns available in the capital market.
- To diversify funding sources for the Government.
- Interest income is paid quarterly directly into the bond holder’s account.
- The Bond is acceptable as collateral for loans by banks and can be sold for cash in the secondary market before maturity.
- Good for savings towards retirement, marriage, school fees, house projects, etc.
- Safety: backed by the full faith and credit of the Federal Government of Nigeria.
On settlement date, CSCS will credit investor’s account with the volume of bonds purchased.