The Debt Management Office (DMO), on behalf of the Federal Government of Nigeria (FGN), has introduced a retail savings product that will be accessible to all income groups – the FGN Savings Bonds.
Details are as highlighted below for the FGN Savings Bonds:
- 2-Year FGN Savings Bond due September 16, 2022: 3.501% per annum
- 3-Year FGN Savings Bond due September 16, 2023: 4.501% per annum
Summary of the Offer
Issuer
Units of Sale
Redemption
Status
- Qualifies as securities in which trustees can invest under the Trustee Investment Act.
- 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.
- Listed on The Nigerian Stock Exchange.
- Qualifies as a liquid asset for liquidity ratio calculation for banks.
Security
Interested investors should contact the stockbroking firms appointed as distribution agents by the debt management office.
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