SEPTEMBER 2019 FGN SAVINGS BONDS OFFER FOR SUBSCRIPTION

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SEPTEMBER 2019 FGN SAVINGS BONDS OFFER FOR SUBSCRIPTIONSEPTEMBER 2019 FGN SAVINGS BONDS OFFER FOR SUBSCRIPTION

Pursuant to the Debt Management Office (Establishment) Act 2003 and the Local Loans (Registered Stock and Securities) Act, CAP. L17, LFN 2004 Debt Management Office (DMO) on behalf of the Federal Government of Nigeria Offers for Subscription and is authorized to receive applications for the Federal Government of Nigeria Savings Bond at the following interest rates.

  • 2-Year FGN Savings Bond due September 11, 2021: 11.150% per annum
  • 3-Year FGN Savings Bond due September 11, 2022: 12.150%  per annum

Opening Date:                                  September 2, 2019

Closing Date:                                    September 6, 2019

Settlement Date:                              September 11, 2019

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Coupon Payment Dates:                 December 11, March 11, June 11, September 11

Summary of the Offer

Issuer

Federal Government of Nigeria (“FGN”)

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Units of Sale

N1,000 per unit subject to a minimum subscription of N5,000 and in mul4iples of N1,000 thereafter, subject to a maximum subscription of N50,000,000.

Interest Payment – Payable Quarterly

Redemption – Bullet repayment on the maturity date

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Status

  1. Qualifies as securities in which trustees can invest under the Trustee Investment Act.
  2. Qualifies as Government securities within the meaning of Company Income Tax Act (“CITA”) and Personal Income Tax Act (“PITA”) for Tax Exemption for Pension Funds, amongst other investors.
  3. Listed on the Nigerian Stock Exchange.
  4. Qualifies as a liquid asset for liquidity ratio calculation for banks.
Read Also:  NSE to launch Exchange Traded Derivatives

Security

Backed by the full faith and credit of the Federal Government of Nigeria and charged upon the general assets of Nigeria.

Interested investors should contact the stockbroking firms appointed as distribution agents by the debt management office.

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SEPTEMBER 2019 FGN SAVINGS BONDS OFFER FOR SUBSCRIPTIONSEPTEMBER 2019 FGN SAVINGS BONDS OFFER FOR SUBSCRIPTION

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SEPTEMBER 2019 FGN SAVINGS BONDS OFFER FOR SUBSCRIPTIONSEPTEMBER 2019 FGN SAVINGS BONDS OFFER FOR SUBSCRIPTION

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